Announcement • Aug 01
Barksdale Resources Corp. Reports Gold Intercepts and Completes Resampling Program at San Javier Project Barksdale Resources Corp. has made the final installment payment of CAD 227,500, issued 4,550,000 Barksdale shares, and consolidated all remaining concessions from the 2020 transaction. The San Javier Project hosts an IOCG (iron-oxide-copper-gold) type deposit located 140 kilometres east of Hermosillo and adjacent to Federal Highway 16. Following the 2021 diamond core drill program, the Company engaged Tetra Tech Canada Inc. to complete a Preliminary Economic Assessment level resource estimation, which was issued in January 2024. The study reported total Measured and Indicated Mineral Resource of 419.2 million pounds of copper with 289.4 million pounds of copper recoverable using heap leach technology. The study acknowledged that gold mineralization was present but did not estimate a resource for gold. Barksdale management and geologists recognized that the 2024 Preliminary Economic Assessment resource estimation noted the presence of gold values in the 2021 and historical drill assay results, yet gold content was not part of the final Preliminary Economic Assessment economics nor final resource estimation. To update and estimate the overall gold content at San Javier, the Company identified five holes drilled in 2007 proximal to the 2021 gold bearing holes SJ21-04 and SJ21-05. Geologists collected 178 samples from historical preserved "reject" samples for gold analysis. They added proper deposit type standards to the samples and submitted the batch to ALS Chemex for analysis. Results show multiple gold intercepts in four of the five 2007 holes sampled. Assay results include shallow, near surface mineralization, including 6 metres of 0.345 g/t Au and 18 metres of 0.504 g/t Au and deeper high-grade mineralization including 9 metres of 3.464 g/t Au, results consistent with the 2021 intercepts. Leapfrog resource modelling software approximates a 28% increase in volume compared to the 2021 modeled results. Deposit average grades have not been estimated at this time. The Company has engaged Mr. Antonio Loschiavo, P. Eng., President of AKF Mining Services, to review these recent results and determine the impact a gold resource could have on the current, Copper-only San Javier Project resource base and overall economics of the deposit. The Company expects to complete an update to the copper and gold mineral resource inventory using current commodity price points and production costs. All drill core rejects were delivered to ALS Global preparation facilities in Hermosillo, Sonora. Samples were passed through a riffle splitter to obtain a 250-gram split (SPL-21), with the material obtained milled to a pulp with 85% passing 75µm. The pulps were sent to ALS Global facilities, an accredited (ISO 9001) laboratory in Vancouver, BC, to be tested for its gold content by Fire Assay 30g aliquot with Atomic Absorption finish (Au-AA23). Control samples including certified reference and blank samples were systematically inserted into the sample sequence and analyzed as part of the Company's quality assurance/quality control protocol. Au-AA23 Process: A prepared sample (30g or 50g) is fused with a mixture of lead oxide, sodium carbonate, borax, silica, and other reagents as required, inquarted with 6 mg of gold-free silver and then cupelled to yield a precious metal doré bead. Dilute nitric acid is added to the doré bead to remove Ag, then hydrochloric acid is utilized to decompose the Au, with each step including heating via microwave oven. The digested solution is cooled, diluted to a final volume of 4 mL with demineralized water, and analyzed by atomic absorption spectroscopy against matrix-matched standards. Scientific and technical information in this news release has been reviewed and approved by Jorge Cirett, a Senior Consultant to the Company and a Qualified Person as defined under Canadian National Instrument 43-101. New Risk • Jul 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$4.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.3m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$41.2m market cap, or US$29.3m). Announcement • Jul 29
Barksdale Resources Corp. Updates Drill Program Results and Assay Results for Sunnyside Property Barksdale Resources Corp. announced the 2026 drill program at its 51% owned Sunnyside property has exceeded the required 25,000 ft drill requirement stipulated in the Company's joint venture agreement with Great Basin Metals paving the way for the Company to increase its ownership to 67.5%. Barksdale has now met all spend and drilling requirements as outlined in the JV Agreement and expects to release the final CAD 550,000 cash and 4,900,000 share payments upon written confirmation by GBM that all Phase II earn-in requirements have been met. The overlimit portion (>10,000 ppm) of four assays from hole SUN26-013R stated as 25 ft of 1.93% Cu from 615 ft to 640 ft were not included in the 615ft to 870ft, 255 ft interval average grade calculations in the July 20, 2026, press release. The updated intervals and average grade calculations are highlighted in Table 1 below. The results from the drill hole SUN26-013R are consistent with those that were observed in holes SUN26-001R, -002R and -003R. The Company's geologists, including myself, believe that these four holes taken together likely connect a large zone of copper lode vein mineralization that is continuous over greater than 600m of strike and continues to depths of up to 1,000m. The working hypothesis we have is that the Copper lode veins follow a northwest-southeast structural trend that controls their distribution, and that they are proximally sourced from a much larger porphyry Copper-Molybdenum (Cu-Mo) mineral deposit. The Copper mineralization reported here is hosted in sericitic to advanced argillic-altered quartz monzonite to monzonite porphyry. Alteration is pervasive and intense, consisting mainly of sericite and quartz, overprinted by pyrophyllite, quartz, barite, and locally by later epithermal silicification with quartz veins and veinlets. This alteration assemblage places the mineralized zone within the upper portion of a porphyry-style mineral deposit. In summary, results received to date, combined with historical data, indicate that the high-grade hypogene copper mineralization, occurring as primary copper sulfides, is part of a porphyry copper system with no apparent supergene enrichment zone or blanket. The results reported here further define a broad, low-grade chalcocite zone surrounding the porphyry and suggest that the high-grade sulfide veins represent the upper expression of deeper Cu-Mo porphyry-style mineralization. Reverse circulation chip samples are placed in bar coded samples bags at the drill rig; samples averaging 5kgs are collected from the drill site by Barksdale representatives and transported to a locked, gated compound where they are dried prior to shipping. Dried samples are then placed in large totes and transferred to a Skyline Assayers truck for transport to the assay laboratory in Tucson Arizona. All samples for this drill program are being submitted for multi-element and gold analysis at Skyline Assayers & Laboratories of Tucson, Arizona. Samples are primary crushed to >75% passing -10 mesh (2000 microns) and then pulverized to >95% passing -150 mesh (100 microns). Gold is then analyzed by fire assay AAS using a 30g charge. Multi-element analysis was conducted using Aqua Regia digestion with ICP-OES analysis for 31 elements. All pulps and coarse rejects will be retained and returned to the Company for long-term storage. Quality assurance & Quality Control (QAQC) samples were inserted into the sample stream at a 6% overall ratio comprising 2% certified reference materials or standards, 2% blank material, and 2% field duplicates that are collected at the drill. Results from the QAQC program are reviewed by the Qualified Person (QP) for the Company to assure assay result accuracy and precision prior to any data being released to the market. Scientific and technical information in this news release has been reviewed and approved by Alan Roberts, Vice President of Exploration of the Company, a Certified Professional Geologist (CPG) with the American Institute of Professional Geologist (AIPG # 11260) and is a "Qualified Person" as defined in National Instrument 43-101. 
