Barksdale Meets Technical Milestones for Phase II Earn-In and Updates SUN26-013R Assay Result of 65.5 Metres of 0.47% Cu and 1.24 g/t Ag, Including 7.6 Metres of 1.93% Cu and 1.96 g/t Ag

Barksdale Resources Corp. (BRO) has satisfied the 25,000 ft Phase II earn-in drilling requirement, a milestone that positions the company to increase its Sunnyside joint venture ownership from 51% to 67.5% upon final payment. The final payment consists of C$550,000 in cash and 4.9 million shares.

The company also released updated assay results for hole SUN26-013R, which now incorporate previously excluded overlimit copper values exceeding 10,000 ppm. The headline intercept for the hole is 65.5 meters at 0.47% copper and 1.24 g/t silver. This interval includes a high-grade core of 7.6 meters at 1.93% copper and 1.96 g/t silver, extending from 615 feet to 640 feet.

Management describes these results as confirmation of a continuous copper lode-vein zone stretching more than 600 meters in strike length and reaching depths of 1,000 meters. The company interprets this structure as the upper expression of a deeper porphyry copper-molybdenum system.

Barksdale Resources Corp. (BRO) reached an earn-in milestone that was already anticipated by the market, with the company having been within 1,500 feet of completion as of the July 20 release.

Recent drill results confirm that grades are trending lower in step-outs. The stock has already declined from $0.53 to $0.19 largely due to previous batches of similar results, and this latest release adds no genuinely new or positive information to the exploration narrative.

The company’s financial position remains fragile. As of December 31, 2025, cash stood at only $42,000. Subsequent raises between February and March 2026 injected a few million dollars, but the company continues to act as a perpetual diluter. The pending issuance of 4.9 million shares for the earn-in adds further dilution.

Market reaction has reflected these conditions, with the chart showing a steady decline from June highs. The July 20 release, which contained similar intercepts, was met with further selling, and today’s news is unlikely to halt the downtrend.

Barksdale Resources Corp. (BRO) is a junior explorer focused on copper, gold, silver, and zinc assets in Arizona and Sonora, Mexico. Its flagship Sunnyside project in Arizona is a hypogene porphyry copper system with lode veins, located adjacent to South32’s Hermosa project. Ownership of the asset is moving to 67.5% via an earn-in agreement, though there is currently no NI 43-101 resource defined.

The company also holds the 100%-owned San Javier project in Mexico, which features a PEA-level copper resource of 419 million pounds of copper. The project carries modest economics, with a net present value of $112 million and an internal rate of return of 26.3%, although gold is not included in the calculation. Additional early-stage ground in Arizona, including Goat Canyon, Canelo, and San Antonio, adds further optionality to the portfolio.

The equity is heavily levered to exploration success, supported by a high share count of 225 million outstanding and 333 million fully diluted, alongside significant debt of $4.5 million in convertible notes.