Barksdale Announces $5 Million Private Placement to Advance Sunnyside Exploration Towards 67.5% Ownership and Welcomes Christina McCarthy to the Board

Rhea-AI Summary

Barksdale (OTCQB: BRKCF) announced a $5,000,000 private placement of up to ~55,555,555 units at $0.09 per Unit, each Unit including one share and one-half warrant. Each warrant is exercisable at $0.15 for two years. Proceeds will fund the 25,000-foot Phase II drill program at the Sunnyside project (Arizona), the Phase II earn-in payment to Great Basin Metals, corporate costs, and geochemical/geophysical work. The company engaged finders payable a 6% commission in units plus warrants. The board appointed geologist Christina McCarthy as an independent director. Phase II drilling is scheduled to start in February and run two to three months.

Positive

• $5,000,000 private placement at $0.09 per Unit
• Warrants exercisable at $0.15 for two years
• 25,000-foot Phase II drill program funded
• Advances toward 67.5% ownership of Sunnyside project
• Appointed Christina McCarthy to board (18+ years)

Negative

• Issuance of ~55.6M Units will dilute existing shareholders
• Finders to receive 6% commission payable in units and warrants
• Phase II drilling scheduled Feb for 2–3 months—execution/timing risk

News Market Reaction – BRKCF

+36.71%

1 alert

+36.71% News Effect

On the day this news was published, BRKCF gained 36.71%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NOTE: All figures are in Canadian Dollars unless otherwise stated.

Vancouver, British Columbia--(Newsfile Corp. - January 21, 2026) - Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) (FSE: 2NZ) ("Barksdale" or the "Company") announces plans to raise $5,000,000 on a private placement basis consisting of up to approximately 55,555,555 common share units in the capital of the Company (the "Units") at a price of $0.09 per Unit (the "Issue Price") for gross proceeds of approximately of $5,000,000 (the "Offering").

Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.15 for a period of two (2) years following the closing of the Offering.

"Barksdale is truly grateful for the strong support of our shareholders as we move into the New Year," said Barksdale CEO Wiiliam Wulftange. "Following completion of the Phase II drill program and achieving 67.5% ownership of the Sunnyside project, Barksdale will return our focus to testing and defining the extension(s) of the Peake Deposit onto the Sunnyside Property."

Use of proceeds include funding for and completion of the Phase ll drill campaign, funds to cover the Phase II earn-in payment to Great Basin Metals Inc., on-going corporate expenses and funding towards geochemical and/or geophysical projects currently under review for the Sunnyside and San Javier projects.

The Company has engaged Medalist Capital Advisors Inc. (the "Finders") as exclusive finders to assist with the Offering. The Company has agreed to pay a 6% commission payable in units having a deemed price of $0.09 per common share with a one-half common share purchase warrant with an exercise price of $0.15 in relation to this offering.

Board Appoints New Member
The Barksdale Board of Directors has appointed Christina McCarthy of Toronto as the Company's newest independent board member.

Ms. Christina McCarthy is a geologist with over 18 years of experience in the resource capital markets, combining technical expertise with strategic leadership in corporate development and finance. She is the founder and former President and CEO of Paycore Minerals Inc., which was acquired by i-80 Gold Corp. in 2023. Ms. McCarthy has also served as Director of Corporate Development at McEwen Mining and as Vice President of Corporate Development at New Oroperu Resources, which was acquired in 2021. Her career includes roles in equity research at Euro Pacific, institutional sales at Haywood Securities, and board-level directorships within the mining sector. Prior to entering the capital markets, Ms. McCarthy managed exploration programs for a junior exploration company across multiple projects in Norway and Sweden. She holds a B.Sc. in Earth Sciences (Geology) from Brock University, Ontario.

"We are thrilled to have Christina join our board in conjunction with this financing to complete the Phase 2 drilling program at our flagship Sunnyside Project," said Board Chair Darren Blasutti. "Her extensive background in exploration and capital markets will assist the Board as it navigates the Company's numerous strategic options and vast exploration upside beyond the 67.5% ownership goal of the Sunnyside Project expected later this year."

Phase ll Drill Program
Barksdale has engaged Alford Drilling of Elko, Nev., to complete a 25,000-foot (7,620 metres) drill program required to complete our Phase ll earn-in drill program at the Sunnyside project in Arizona, USA. This is a necessary requirement for the Company to advance to 67.5% ownership of the project.

The program will test and define near surface chalcocite (Cu +/- Au) mineralization recommended for follow-up drilling by ASARCO in the 1990's, drill test structural extensions of the World's Fair Mine (Ag, Au ,Pb, Cu) and resistivity targets northwest of the former Trench Mine, and initiate drill testing of Cu-Mo, Ag-Au and Zn anomalies identified by our fracture geochemical study commissioned in 2019. The drill program is scheduled to begin in February and will take two to three months to complete.

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

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.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains 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 foregoing financing and amendments 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 of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281160

FAQ

What are the terms of Barksdale (BRKCF) private placement announced January 22, 2026?

Up to ~55,555,555 Units at $0.09 per Unit for gross proceeds of $5,000,000; each Unit includes one share and one-half warrant.

How do the warrants in the BRKCF offering work and when do they expire?

Each full warrant allows purchase of one share at $0.15 and expires two years after closing.

What will Barksdale (BRKCF) use the $5 million financing for?

To fund the Phase II 25,000-foot drill program, the Phase II earn-in payment, corporate expenses, and geochemical/geophysical work.

How does the financing affect Barksdale shareholders (BRKCF)?

The offering may dilute existing holders due to issuance of ~55.6M Units and includes finders' units and warrants.

When will Barksdale begin the Phase II Sunnyside drill program and how long will it take?

Drilling is scheduled to begin in February 2026 and is expected to take two to three months.

Who is Christina McCarthy and what experience does she bring to Barksdale's board?

Christina McCarthy is a geologist with 18+ years in resource capital markets, corporate development, and prior CEO/director roles in mining companies.