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JV With Regal Resources Moves Forward
Barksdale Resources Corp. (TSXV: BRO,OTC:BRKCF) (OTCQB: BRKCF) (FSE: 2NZ) ("Barksdale" or the "Company") is pleased to announce that it has completed the C$1 million cash payment and released 5 million shares of Barksdale stock, both to Regal Resources (now Great Basin Minerals). These payments fulfill all the Phase I earn-in requirements securing a permanent 51% ownership of the Sunnyside project in Arizona, U.S.A. (Announced May 13, 2025.) Shares provided to Regal are subject to a four-month trading hold period.
"Completion of all the Phase I earn-in stipulations outlined in the Barksdale-Regal joint venture agreement within the two-year period is a significant accomplishment on behalf of all Barksdale stakeholders," said CEO William Wulftange.
"Just as important, the associated drill programs have intersected the down-dip extension of South32's Taylor deposit and initiated testing of copper porphyry-style mineralization located solely on the Sunnyside Property where historical drill programs reported intervals with elevated copper, manganese, antimony and silver values," he added.
"Barksdale is now focused on completing the Phase II earn-in stipulations that take the Company to a permanent 67.5% ownership of the prospective Sunnyside project within the next two-year period. This requires completing an additional 7,260 metres (25,000 feet) of drilling and payment of C$550,000 and issuance of 4.9 million shares," said Mr. Wulftange. Once the 67.5% ownership is reached, the Company intends to drill the extension of South32's Peake copper deposit on Sunnyside's boundary.
Proposed Fall Drill Campaign
The Company has designed a 7,260 metre (25,000 feet) drill program to efficiently test copper, silver and associated base metal targets found exclusively on the Sunnyside property. These targets, previously identified by ASARCO during their 1970 through1992 exploration programs, were recommended for follow-up drilling which was not completed. The Company plans to initiate select ASARCO recommended follow-up drilling. The Company is currently soliciting bids from drill companies to complete this work.
Qualified Person
William Wulftange, Reg.Mem. SME, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical content of this release. He is the CEO and director of Barksdale.
About Barksdale Resources Corp.
At Barksdale, our mission is to drive long-term shareholder value through the strategic acquisition, exploration, and advancement of high-quality critical, base, and precious metal projects across the Americas.
We are focused on the metals essential to the global energy transition and modern infrastructure-particularly copper, zinc, and other critical minerals-at a time when secure, domestic and regional sources are more important than ever.
With a sharp focus on critical metals and a commitment to responsible growth, Barksdale is positioned to play a key role in meeting tomorrow's resource needs.
On Behalf of Barksdale Resources Corp:
William Wulftange
Chief Executive Officer and Director
info@barksdaleresources.com
604-398-5385
Ira M. Gostin
Investor Relations
604-398-5385 x3
ir@barksdaleresources.com
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 news release.
Forward-Looking Statements:
This news release may contain certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the Phase II earn-in and meeting the requirements thereof, and the proposed Fall 2025 drill program and results therefrom are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Barksdale, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the Company has made assumptions and estimates based on or related to many of these factors. All forward-looking statements contained in this news release are qualified by these cautionary statements and those in the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. Readers should not place undue reliance on the forward-looking statements contained in this news release concerning these items. Barksdale does not assume any obligation to update the forward-looking statements if beliefs, opinions, projections, or other factors, should change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265178
