Barksdale Initiates Phase II Drill Program

Rhea-AI Summary

Barksdale Resources Corp. (OTCQX: BRKCF) has initiated its Phase II drilling program at the Sunnyside project in Arizona. Alford Drilling has commenced drilling reverse circulation pre-collars, with a diamond drill set to complete the holes to their target depths. The Company plans to provide an update next week on the progress.

Rick Trotman, President and CEO, expressed excitement about finding extensions of high-grade deep carbonate-hosted mineralization and noted that using reverse circulation rigs could reduce time and costs. Additionally, Barksdale completed first-year obligations of the Sunnyside option agreement, making a cash payment of C$717,071 and releasing 3,850,000 escrowed shares. The Company also met the C$3,000,000 work expenditure requirement.

Barksdale, recognized as a 2023 OTCQX BEST 50 Company, continues to advance its Sunnyside and San Antonio projects in Arizona and the San Javier project in Mexico.

Positive

• Initiation of Phase II drilling program at Sunnyside project.
• Completion of first-year obligations under the Sunnyside option agreement.
• Cash payment of C$717,071 and release of 3,850,000 escrowed shares.
• Meeting the C$3,000,000 work expenditure requirement.
• Potential reduction in time and cost using reverse circulation rigs.

Negative

• No significant negative aspects reported.

Vancouver, British Columbia--(Newsfile Corp. - September 12, 2024) - Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF) ("Barksdale" or the "Company") is pleased to announce that it has begun its Phase II drilling program at its Sunnyside project in Arizona. Alford Drilling has started drilling a series of reverse circulation pre-collars ahead of the arrival of a diamond drill that will complete the holes to their ultimate target depths. The Company will provide an additional update next week regarding the progress related to the first pre-collar hole.

Rick Trotman, President and CEO of Barksdale, says, "We are very excited to kick off the second phase of exploration drilling at Sunnyside. The new program will seek to find the extensions of the high-grade deep carbonate-hosted mineralization. Utilizing a reverse circulation rig to complete the initial pre-collars should allow us to significantly cut down on the amount of time necessary to hit the target carbonate host rocks and could also aid in cutting down on the cost of completing the overall program. We look forward to providing regular updates going forward on the overall progress of the drilling campaign."

Additionally, the Company has completed the first-year obligations related to the Sunnyside option agreement dated August 10, 2017. Pursuant to the agreement, Barksdale has made a cash payment of C$717,071 and released 3,850,000 escrowed common shares of the Company to Regal Resources, a non-public reporting issuer. Additionally, the Company's obligation to complete C$3,000,000 of work expenditures on the project has been met.

Barksdale Resources Corp., a 2023 OTCQX BEST 50 Company, is a base metal exploration company headquartered in Vancouver, B.C., that is focused on the acquisition, exploration and advancement of highly prospective base metal projects in North America. Barksdale is currently advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects, both of which are in the Patagonia mining district of southern Arizona, as well as the San Javier copper-gold project in central Sonora, Mexico.

ON BEHALF OF BARKSDALE RESOURCES CORP

Rick Trotman
President, CEO and Director
Rick@barksdaleresources.com

Terri Anne Welyki
Vice President of Communications
778-238-2333
TerriAnne@barksdaleresources.com

For more information please phone 778-558-7145, email info@barksdaleresources.com or visit www.BarksdaleResources.com.

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 Phase II drilling program, results therefrom and impact thereof, 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. Such factors include, without limitation, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All forward-looking statements contained in this news release is 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/223062

FAQ

What is the significance of Barksdale's Phase II drilling program?

Barksdale's Phase II drilling program aims to explore extensions of high-grade deep carbonate-hosted mineralization at the Sunnyside project in Arizona.

When did Barksdale start its Phase II drilling program?

Barksdale began its Phase II drilling program on September 12, 2024.

What are the financial obligations completed by Barksdale for the Sunnyside project?

Barksdale completed C$3,000,000 in work expenditures and made a cash payment of C$717,071, releasing 3,850,000 escrowed shares.

What drilling techniques are being used in Barksdale's Phase II program?

Barksdale is using reverse circulation pre-collars followed by diamond drilling to reach target depths.

What are the expected benefits of using reverse circulation rigs in Barksdale's drilling program?

The use of reverse circulation rigs is expected to reduce both time and costs in reaching the target carbonate host rocks.