Barsele Minerals Corp. (TSX-V:BME) 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:AEM) (NYSE: AEM). Ownership in the Barsele 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.

Drilling was halted mid-December 2017, for the Christmas holidays. In January 2018, drilling resumed with two diamond drilling machines operational within the property. Twenty-three holes are reported in this news release of which one is expansion and two are infill, six are VMS related tests at Norra and fourteen are regional tests at Risberget. During 2017, 58,281 metres of core was collected from a total of 123 core holes. During January of 2018, two drills cored a total of 1,555.9 metres, with two drill holes completed and two ongoing at month end. Base of till testing is ongoing.

At the Central Zone, hole CNT17032 cut two mineralized intervals, with a highlight hit of 7.0 metres core length (estimated 3.9 metres true thickness) grading 2.63 g/t gold at a midpoint depth of 370 metres below surface.

At the Skiråsen Zone, highlight results include hole SKI17015 which cut seven mineralized zones with highlight hits of 11.0 metres core length (estimated 6.0 metres true thickness) grading 4.18 g/t gold at a midpoint depth of 520 metres below surface plus 22.0 metres core length (estimated 12.0 metres true thickness) grading 1.88 g/t gold at a midpoint depth of 565 metres below surface and 4.0 metres core length (estimated 2.2 meters true thickness) grading 3.96 g/t gold at a midpoint depth of 615 metres below surface.

At the Risberget Zone, hole RIS17013 cut a polymetallic zone of 5.0 metres core length (estimated 3.8 metres true thickness) grading 1.23 g/t gold, 209.0 g/t silver, 0.16% copper, 0.20% zinc, 700 g/t antimony at a midpoint depth of 160 metres below surface. Hole RIS17016 cut 28.0 metres core length (estimated 21.0 metres true thickness) grading 1.28 g/t gold, including 8.15 metres core length (estimated 6.1 metres true thickness) grading 2.37 g/t gold.

Hole RIS17019 cut 5.0 metres core length (estimated 3.80 metres true thickness) grading 2.80 g/t gold. Hole RIS17020 cut 61.0 metres core length (estimated 45.8 metres true thickness) grading 1.12 g/t gold, including 16.0 metres core length (estimated 12.0 metres true thickness) grading 2.98 g/t gold. Hole RIS17023 cut 6.3 metres core length (estimated 4.7 metres true thickness) grading 2.00 g/t gold.

At the Norra VMS Zone, hole NOR17010 cut 18.65 metres core length, (estimated 14.0 metres true thickness) grading trace gold, 2.94 g/t silver, 0.18% zinc at a midpoint depth of 80 metres below surface.

Barsele’s President, Gary Cope states; “Recent drilling continues to yield positive results at Central, Skiråsen, Risberget and Norra.  We look to a successful drilling campaign in 2018.”

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 the Barsele 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 Barsele 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 metres to 500 metres 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, 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 by mid-April of 2018.