Barker Minerals Ltd. - News Releases - Barker Minerals Closes Private Placements

Prince George, B.C., July 23, 2010 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") announces that it has closed two non-brokered private placements, a flow-through placement of $25,000 and a non-flow-through placement of $234,750, for total proceeds of $259,750.

Flow-through Placement
The Company issued 250,000 common share flow-through units (the "FT Units") at a price of $0.10 per FT Unit for gross proceeds of $25,000. Each FT Unit consisted of one common share (a "Common Share") of the Company issued on a flow-through basis and one non flow through common share purchase warrant ("Warrant") of the Company. Each Warrant entitles the holder to acquire one Common Share at a price of $0.20 per share in year one and $0.30 per share in year two.

Non-flow-through Placement
The Company issued 4,695,000 common share units (the "Units") at a price of $0.05 per Unit. Each Unit consisted of one Common Share and one common share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to acquire one Common Share at a price of $0.10 per share for a period of five years. Insiders (or their associates) acquired a total of 4,035,000 Units. The proceeds received from the sale of the Units will be used for general working capital (including payment of outstanding accounts) and to fund work programs on the Company's properties. All of the securities issued are subject to regulatory hold periods that expire on November 20, 2010.

About Barker Minerals
Barker Minerals is advancing exploration on its mineral properties in the Cariboo Gold District, one of the most mineralized belts in British Columbia. The Company has more than 20 projects on its exploration properties, all of which are 100% owned by Barker Minerals. Eight projects have drill-ready gold and/or massive sulphide targets.

FOR FURTHER INFORMATION PLEASE CONTACT:

Louis E. Doyle
Barker Minerals Ltd.
Tel: (250) 563-8752
Fax: (250) 563-8751

www.barkerminerals.com

Robert H. Kuhl
Barker Minerals Ltd.
Tel: (604) 321-0709
Fax: (604) 321-0719

Neither the 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.

Certain statements in this press release may be considered forward-looking information, including those relating to "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors - - including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.