Barsele drill hole at Risberget yields 32.0 meters grading 2.92 g/t gold, with a second drill hole yielding 1.0-meter grading 248.0 g/t gold. Recent Drilling has Expanded the Risberget Mineralized Zone to 250 meters.

Vancouver, BC — Barsele Minerals Corp. — (TSX-V: BME) (“Barsele“) is pleased to report an operational update for the ongoing exploration program within the Barsele Gold-VMS Project area in Västerbottens Län, northern Sweden. The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited — (TSX, NYSE: AEM) (“Agnico Eagle“). Ownership in the project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay by Barsele until Pre-Feasibility is completed.

During the month of October, five diamond drilling machines were operational within the property. Six drill holes (four infill and two expansion) tested the Central and Skiråsen zones. Other drilling was focused on the Norra massive sulphide zone (two holes), as well as regional drilling (two holes) along the trend of the new Risberget gold target, 3.7 kilometers to the east-southeast of the Skiråsen Zone. Base of till (BOT) testing is ongoing.

Twenty-five holes are reported in this news release of which ten were expansion and seven were infill, with six being regional tests at Risberget and two being VMS tests at Norra. As of October 31st, 92,648 meters of core has been collected from a total of 202 core holes, since the initiation of drilling in late 2015.

At the Risberget Zone, recent significant drill results include highlight regional hole RIS17007 that yielded 32.0 meters core length (estimated 24.0 meters true thickness) grading 2.92 g/t gold uncut (1.58 g/t gold cut) at a midpoint depth of 75 meters below surface and hole RIS17005 yielded 1.0-meter core length (estimated 0.8-meter true thickness) grading 248.0 g/t gold uncut (20.0 g/t gold cut) at a midpoint depth of 15 meters below surface. (Risberget gold results have been capped at 20 g/t).

At the Norra VMS Zone, highlight hole NOR17007 yielded 9.5 meters core length (estimated 7.15 meters true thickness) grading 1.40 g/t gold, 10.54 g/t silver, 1.61% zinc at a midpoint depth of 70 meters below surface. This intercept lies along one limb of what is interpreted to be a folded mineralized massive sulphide-bearing horizon. (No capping has yet been applied to Norra mineralization).

Highlight results from the Central Zone include hole CNT17028, that cut ten distinct mineralized intervals, culminating with the deepest intersection to date at Barsele of 12.0 meters core length (estimated 5.9 meters true thickness) grading 3.61 g/t gold at a midpoint depth of 875 meters below surface. Hole CNT17025 yielded 21.0 meters core length (estimated 16.2 meters true thickness) grading 2.44 g/t gold at a midpoint depth of 325 meters below surface. Hole CNT17027 cut 7.0 meters core length (estimated 3.6 meters true thickness) grading 5.17 g/t gold at a midpoint depth of 370 meters below surface, plus 22.0 meters core length (estimated 11.6 meters true thickness) grading 2.51 grams per tonne gold at a midpoint depth of 550 meters below surface. (Central drill-related gold results are now being capped at 40 g/t).

At the recently expanded and extended trench at Central, 543 saw-cut channel samples were collected from outcrop during the month of October. Twenty-one 1.0-meter samples were collected along the trend of a polymetallic quartz vein and 26 samples were collected from five different sample lines across that vein. The 0.5 to 1.5-meter-wide vein, located along a low angle reverse fault plane, yielded average grades of 3.12 g/t gold, 22.8 g/t silver, 0.57% lead, 1.55% zinc and 1,732 g/t antimony.

Highlight results from the Skiråsen Zone include hole SKI17007 that cut a 1.10 meter core length (estimated 0.5 meter true thickness) grading 101.70 g/t gold uncut (16.88 g/t gold cut) at a midpoint depth of 260 meters below surface and hole SKI17008 cut eight distinct mineralized intervals, including 14.0 meters core length (estimated 7.7 meters true thickness)  grading 2.12 g/t gold at a midpoint depth of 255 meters below surface, plus 9.0 meters core length (estimated 5.0 meters true thickness) grading 7.56 g/t gold at a midpoint depth of 330 meters below surface, plus 14.10 meters core length (estimated 8.2 meters true thickness) grading 2.04 g/t gold at a midpoint depth of 430 meters below surface, plus 1.10 meters core length (estimated 0.70 meters true thickness) grading 9.97 g/t gold at a midpoint depth of 550 meters below surface. (Skiråsen drill-related gold results are now being capped at 30 g/t).

Barsele’s President, Gary Cope states; “Two hundred and fifty meters of drill-related gold continuity at Risberget is considered to be highly consequential in the evolution of the Barsele gold system and the latest massive sulphide-style intercept at Norra is an exciting step forward in the understanding of the geological and structural controls of this style of mineralization within the property. Expansion and infill drilling continue to yield positive results within the Central and Skiråsen gold zones.”

The technical information in this news release was verified by way of a site visit in December of 2017, by the Qualified Person, where the data was discussed with the site management and technical staff and the database was reviewed and drill core was examined. The quality control/quality assurance program at the Barsele project is described on our website at http://barseleminerals.com/s/QAQCProcedures-Barsele.asp.

All samples referred to in this table were tested at independent ALS Laboratories in Romania and Ireland, using ultra trace level method (ME-MS61)-48 element by using four acid digestion together with ICP-AES and ICP-MS analytical methods. Gold is tested by fire assay, aqua regia digestion and analysed with an atomic absorption spectroscopy (AAS) or gravimetric finish depending on grade (Au-AA24 and Au-GRA22). Each method has a lower and upper calibration range for which results are accurately determined.

As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the project area. Basic environmental assessment and surface water characterization, species studies and hydrogeology studies are ongoing.

About the Barsele Gold Project

The Barsele Project is located on the western end of the Proterozoic “Skellefte Trend”, a prolific volcanogenic massive sulphide deposits belt, where it intersects with the “Gold Line” in Northern Sweden. Both polymetallic deposits and intrusive hosted orogenic gold deposits are present in this region and on the property. Current and past producers in the region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.

Drilling has been focused on verifying, defining and expanding the mineral resources within and along the Avan, Central and Skiråsen zones and recently the Risberget Zone.

This gold system remains open in all directions. These structurally-linked mineralized zones occur within granodiorite-volcanic-sedimentary host rocks that vary in width from 10’s of meters to 500 meters and have been traced over a strike length exceeding 8.0 kilometers. Gold is generally associated with arsenopyrite and low base metal content, but also occurs as native metal.

Art Freeze, P.Geo. is the Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.

About Barsele Minerals Corp.

Barsele is a Canadian-based junior exploration company managed by the Belcarra Group and comprised of highly qualified mining professionals. Barsele’s main property is the Barsele Gold Project in Västerbottens Län, Sweden, a joint venture with Agnico Eagle. An updated NI 43-101 Technical Report is expected to be released toward the end of the first quarter of 2018.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
PresidentFor further information, please contact Alex Tsakumis, VP Corporate Development at Barsele Minerals Corp. at (604) 687-8566 x 228, email [email protected] or visit our website at www.barseleminerals.com

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Barsele undertakes no obligation to update such statements, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release