International Wayside Gold Mines Ltd.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

International Wayside Gold Mines Ltd. is a Canadian public company based in Vancouver, B.C. The Company is focused on the exploration and development of its gold properties in the historic Cariboo Goldfields in east-central British Columbia, Canada, where the Company has acquired more than 100,000 hectares of mineral tenure.

The Company has entered a new era where it will make the leap from being an exploration company to a gold miner. This will have been achieved through the exploration programs and development of its Cariboo Gold Project in Wells, BC and the proposed acquisition of Cross Lake Resources' Quesnel River (QR) Mine and Mill facilities.

PROJECT IN HAND

Cariboo Gold Project, Wells, East-Central British Columbia

The Cariboo Gold Project encompasses the former producing Hardscrabble Tungsten Gold Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Gold Mine, Cariboo Gold Quartz Mine, Bonanza Ledge Mine (proposed), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Gold Mine.

International Wayside began exploration and development at its Cariboo Gold Project in 1994. Mineral tenures in the historic Cariboo Goldfields encompass approximately 1,065 sq.km (106,484 ha) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Past production is in excess of 3.8 million ounces of gold in the Cariboo Goldfields, including 2.64 million ounces of recorded placer gold and a total of 1.23 million ounces of gold from three former underground gold mines (the Cariboo Gold Quartz Mine, the Island Mountain Mine and the Mosquito Creek Mine, all on the Company's tenure). 

To date, the Company has completed more than 57,000 m of drilling and while the Company continues to augment and refine the geological model, large areas have never been explored.

Cariboo Gold Project highlights:

• Bonanza Ledge Mine (proposed)

  • Pre-feasibility currently being completed May 2009

  • Mining permit expected to be issued summer 2009

    • Gold Quartz Mine (proposed)

  • Pre-feasibility study to commence 4th quarter 2009

  • Mining permit expected to be issued summer 2011

• Multi-million ounces resource potential

  • Potential to develop and expand resources across trend

  • Numerous priority targets

• More than 100,000 ha (more than 1,000 sq.km) mineral tenure

  • 60 km long trend

• In excess of 3.8 million ounces of gold recovered from past producers

  • 2.64 million ounces of placer gold

  • 1.23 million ounces of lode gold

The Company expects to produce 20,000 ounces of gold per year at Bonanza Ledge. The development will generate revenue to fund large-scale drilling programs planned throughout the Cariboo Gold Belt.

Initially, the Company intends to truck the Bonanza Ledge ore to the nearby Quesnel River mill. The mill (owned by Cross Lake Minerals Ltd.) is an efficient, electric-powered 1,000 tonnes per day facility located 116 km driving distance from the proposed Bonanza Ledge Mine. Combining QR and Bonanza Ledge ore provides optimal recoveries. Anticipated production is 30,000 ounces in 2009. Anticipated production is 50,000 ounces in 2010-14 per annum.

Quesnel River (QR) Mine & Mill

• QR Mill

  • 1,000 tonnes per day

  • Constructed in 1994

  • Capital cost (1994) in excess of $40 million

  • 2007/08 start up and development costs $16 million

• QR Mine

  • The West Zone at the QR Mine contains 58,037 ounces gold at a grade of 5.07 g/t that has been prepared for mining

  • 100,000 ounces indicated resource in North Zone

  • Multi-thousand ounce potential at depth

MANAGEMENT

Management & Directors

Frank Callaghan, President & CEO, Director
Mr. Callaghan has served as President since 1991 and serves as Director for numerous other public and private companies. He leads the day-to-day operations of the Company, with the assistance of a dedicated management team. Mr. Callaghan had several successful business ventures prior to his involvement in the mining industry. 

Neil Mallen, M.Sc.Pl, VP - Project Development
Mr. Mallen has a M.Sc. degree in Planning from the University of Toronto and more than 10 years of experience as a consultant and manager for natural resource companies.

Minaz Dhanani, CFO & Corporate Secretary
Mr. Dhanani brings with him over 20 years of accounting and financial experience obtained both locally and internationally, including another position at Chief Financial Officer with Kent Exploration Inc. Mr. Dhanani also has several years of senior administrative experience.

Andrew Rees, B.Comm., VP - Corporate Development, Director
Mr. Rees has more than 11 years experience in corporate management and development. Mr. Rees also serves as President of WellStar Energy Corp. and serves as Director for several other resource companies.

Jian-Zhao (Jim) Yin, Ph.D. (Geology), P.Geo., Chief Geologist
Mr. Yin has more than 17 years of experience as a geologist with Chinese, Canadian, American and Australian mining companies.

Tom Hatton, Mine Superintendent
Mr. Hatton has over 30 years experience in field management and consulting in the mining industry.

Board of Directors

J. Frank Callaghan, President & CEO, Director
Craig D. Thomas, Director
Andrew Rees, B.Comm., VP - Corporate Development, Director

NEWS UPDATE

On January 20, 2010, International Wayside Gold Mines Ltd. announced that effective Thursday January 21, 2010, the Company will change its name to Barkerville Gold Mines Ltd. The Company's shares will trade under the stock symbol "BGM" on the TSX Venture Exchange.

J. Frank Callaghan, President and CEO states, "The new name is reflective of the rich history of gold production in the area and the evolution of the Company as it moves towards production. The Company is entering a new era and the Board of Directors felt that a new name would better represent the Company."

On January 18, 2010, International Wayside Gold Mines Ltd. announced that it has discovered a new zone, outside and northwest of the proposed Cariboo Gold Quartz open pit mine. Highlights of the assay results from the Company's 2009 drill campaign include:

· Drill hole CM09-07 intercepted replacement-like gold mineralization:
o 13.5 m (44.2 ft) of 5.06 g/t (0.148 oz/t) gold

· Drill hole CM09-08 intercepted both replacement and quartz vein style gold mineralization:
o 10.1 m (33.3 ft) of 1.51 g/t (0.044 oz/t) gold

On January 11, 2010, International Wayside Gold Mines Ltd. reported that the Permit to Mine has been granted for the West Zone at the QR Mine. In addition, an updated Pre-Feasibility Study (PFS), NI 43-101 compliant of the West Zone at QR Mine and Mill has been delivered. With the receipt of the Mining Permit and a positive PFS, the commencement of mining is scheduled to begin at the QR Mine in February 2010.

On December 16, 2009, International Wayside Gold Mines Ltd. announced that the Company has revised the terms of the acquisition of the QR Mine and Mill from Cross Lake Minerals Ltd. (now 0373849 BC Ltd.) in order to retain its tax losses. Under these revised terms and upon the commencement of mining operations, the Company will have the ability to utilize the accumulated tax loss pools of approximately $25 million for the financial benefit of the Company and its shareholders.

On November 20, 2009, International Wayside Gold Mines announced that it has arranged a $10,000,000 private placement. The private placement offering of up to 12.5 million units at 80 cents per unit, comprising up to 2.5 million units of the Company at a price of 80 cents per unit, and up to 10 million subscription receipts at a subscription price of 80 cents per subscription receipt.

On November 9, 2009, International Wayside Gold Mines Ltd. announced that its trench sampling returns 30 ft of 26.8 g/t gold in Trench 1 and 9 feet of 97.4 g/t gold in Trench 2 at the Bonanza Ledge deposit.

On October 7, 2009, International Wayside Gold Mines Ltd. announced more results from its infill diamond drill program in the Bonanza Ledge zone on Barkerville Mountain.
Drill hole BC09-12 returns 84.4 m (277.0 ft) of 16.5 g/t (0.481 oz/t) gold, including 37.5 m (123.1 ft) of 36.1 g/t (1.052 oz/t) gold.

On October 5, 2009, International Wayside Gold Mines Ltd. reported that it has received more results from its infill diamond drill program in the Bonanza Ledge Zone on Barkerville Mountain and from one of the three diamond drill holes testing the mine grid west extension of the BC Vein on Cow Mountain.

To date, 16 of 17 drill holes have been completed with BC09-01 through BC09-05, BC09-07 through BC09-09, and BC09-11 returning promising intercepts containing gold mineralization. Drill hole BC09-11 returns 51.5 m (170 ft) of 7.17g/t gold, including 20.2 m (66.4 ft) of 14.6 g/t gold.

Drill holes CM09-01 through CM09-03 were completed on Cow Mountain and confirm the mine grid west extension of the BC Vein. The results verify that strike quartz veins including BC Vein exist on Cow Mountain. Gold values returned from the strike veins are up to 22.7 g/t.

On September 17, 2009, International Wayside Gold Mines Ltd. Announced that it has received results from the first phase of its infill diamond drill program in the Bonanza Ledge Zone on the Barkerville Mountain and from three diamond drill holes testing the mine grid west extension of the BC Vein on Cow Mountain.

To date, 8 of 17 drill holes have been completed with BC09-01 through BC09-05 returning promising intercepts containing gold mineralization. Drill hole BC09-04 returns 48.8 m of 4g/t gold, including 1.5 m of 44 g/t gold and 1.6 m of 14.7 g/t gold.

Drill holes CM09-01 through CM09-03 were completed on Cow Mountain and confirm the mine grid west extension of the BC Vein. The results verify that strike quartz veins including BC Vein exist on Cow Mountain. Gold values returned from the strike veins are up to 20.5 g/t.

The potential gold resource of the BC Vein has been significantly increased as it is now confirmed to extend approximately 1,600 meters from Barkerville Mountain to Cow Mountain

On September 17, 2009, International Wayside Gold Mines Ltd. Announced that it has received results from the first phase of its infill diamond drill program in the Bonanza Ledge Zone on the Barkerville Mountain and from three diamond drill holes testing the mine grid west extension of the BC Vein on Cow Mountain.

To date, 8 of 17 drill holes have been completed with BC09-01 through BC09-05 returning promising intercepts containing gold mineralization. Drill hole BC09-04 returns 48.8 m of 4g/t gold, including 1.5 m of 44 g/t gold and 1.6 m of 14.7 g/t gold.

Drill holes CM09-01 through CM09-03 were completed on Cow Mountain and confirm the mine grid west extension of the BC Vein. The results verify that strike quartz veins including BC Vein exist on Cow Mountain. Gold values returned from the strike veins are up to 20.5 g/t.

The potential gold resource of the BC Vein has been significantly increased as it is now confirmed to extend approximately 1,600 meters from Barkerville Mountain to Cow Mountain.

On September 10, 2009, International Wayside Gold Mines Ltd. announced that it has received a Preliminary Feasibility Study ("PFS") including an updated NI 43-101 compliant resource estimate, on the Bonanza Ledge Gold Project, B.C.

The Base Case economics at $750 per ounce gold show a pre-tax Internal Rate of Return of 44% and a pre-tax cash flow of US$6.7 million. The payback period for the initial capital of US$3.6 million is approximately 2.5 years. The open pit operation will mine ore at a rate of 220 tons (200 tonnes) per day and is expected to produce an average of 20,000 ounces of gold per year by batch tolling milling at a nearby CIP plant for an estimated mine life of 4 years.

NI 43-101 Compliant Proven and Probable Reserves (August 31, 2009)

NI 43-101 Compliant Measured, Indicated and Inferred Mineral Resources (August 31, 2009)

n September 2, 2009, International Wayside Gold Mines Ltd. reported that 5,771,407 warrants have been exercised at $0.50 for net proceeds of CDN$2,885,703. The funds will be used for working capital and the further development of the Bonanza Ledge Project, in Wells, British Columbia.

On August 19, 2009, International Wayside Gold Mines Ltd. announced that it has received a Term Sheet to provide a US$14,000,000, three-year drawdown loan facility at an 8% annual interest rate. The loan facility will be used to recommence operations at the QR Gold Mine, bring the proposed Bonanza Ledge open pit gold mine into production, fund capital expenditures and provide for working capital requirements. Concurrently, Wayside will also enter into a Gold Sales Agreement with the Lender.

On July 17, 2009, International Wayside Gold Mines Ltd. announced that pursuant to its incentive stock option plan, has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase up to a total of 116,266 common shares in the capital stock of the Company. The options are exercisable at a price of 38 cents per share for a period of five years from the date of grant.

On July 14, 2009, International Wayside Gold Mines Ltd. announced that prospecting assay results from the Butts Zone has defined the current stage of the 2009 exploration program, including diamond drilling and trenching program. Significant gold values returned from reconnaissance rock and channel sampling confirms the Butts Zone as one of the potential areas in the Company's Cariboo Gold Project for both quartz vein and replacement styles of gold mineralization.

On July 7, 2009, International Wayside Gold Mines Ltd. announced that it has closed the first tranche of the private placement announced on June 29, 2009. The Company has issued 450,000 units at the price of $0.60 per unit for gross proceeds of $270,000.

On July 6, 2009, International Wayside Gold Mines Ltd. announced that results of ten surface diamond drill holes totalling 1,761.2 m (5,778 feet) on the Goldfinch Zone prove that large replacement style mineralized zones containing high-grade fine grained pyrite up to 250 feet thick exist in the zone.

On June 29, 2009, International Wayside Gold Mines Ltd. announced that the Company has entered into a non-brokered private placement for up to 5,000,000 units at a purchase price of $0.60 per unit for gross proceeds of up to $3,000,000.

The proceed of the financing will be used to pay consultants, continue with the pre-feasibility study and mine permitting and drilling on the Company's Cariboo Gold Project along with providing working capital for Wayside.

On June 24, 2009, International Wayside Gold Mines Ltd. announced that it has filed a NI 43-101 Technical Report ("the Report") on Wayside's 276.7 sq.km land package recently acquired from Golden Cariboo Resources, at the Cariboo Gold Project near Wells, B.C. The full report is available for download on the Company's website at www.wayside-gold.com.

The 2000-2008 exploration program discussed in the Report confirmed the wide spread presence of quartz vein and pyrite replacement styles of gold mineralization on the land package. The land package has potential to host well-mineralized gold ore bodies, possibly of economic grade.

On June 17, 2009, International Wayside Gold Mines Ltd. announced that the Company has established a tentative schedule for the completion of the proposed acquisition of the Quesnel River (QR) Mine and Mill from 0847243 BC Ltd., a subsidiary of the former Cross Lake Minerals Ltd. ("Cross Lake") which holds all of Cross Lake's interest in the QR Mine and Mill (the "QR Subco").

The acquisition of the QR Subco will be structured as a Plan of Arrangement (the "Plan") involving the Company, 0373489 BC Ltd. (formerly Cross Lake), 0847423 BC Ltd. ("QR Subco") and Barkerville Gold Mines Ltd. (wholly owned subsidiary of Wayside). The completion of the Plan is subject to due diligence, shareholder, Court, and regulatory approval.

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