Barksdale Resources Reports 9 Metres 3.464 g/t Au in SJ07-64 and 12 Metres of 1.084 g/t Au from Resampling Program, Completes Payments to Tusk to Own 100% of San Javier Project

Barksdale Resources Corp. (BRO) has completed the acquisition of 100% of the San Javier project in Sonora, Mexico, finalizing the transaction through a cash payment and shares issued to Tusk Exploration Ltd.

The company released new gold assay results from re-sampled historical drill hole rejects from 2007. Five holes were analyzed, located proximal to gold-bearing holes drilled in 2021. Key intercepts from the 2007 holes, with no true width stated, include:

• 6 metres @ 0.345 g/t Au (shallow/near-surface)
• 18 metres @ 0.504 g/t Au (shallow/near-surface)
• 9 metres @ 3.464 g/t Au (deeper high-grade)

Leapfrog modelling indicates approximately a 28% increase in deposit volume compared to the 2021 copper-only model. Barksdale has engaged AKF Mining Services to evaluate the impact on the resource base, which could lead to a Preliminary Economic Assessment (PEA) update or a Pre-Feasibility Study. Gold was not estimated in the 2024 PEA, which covered only copper resources.

Barksdale Resources Corp. (BRO) has confirmed that gold grades at its San Javier project align with 2021 intercepts, validating the presence of gold that was previously known but not modeled in the project’s Preliminary Economic Assessment (PEA). The resampling exercise did not provide new tonnage estimates or an updated economic study.

The company holds 100% ownership of the San Javier project, a fact that was anticipated and does not alter the firm’s fundamental value. Within the context of Barksdale’s portfolio, which is heavily focused on the Sunnyside porphyry and carries a market capitalization of approximately C$40 million, the addition of gold at San Javier represents a minor incremental positive.

Barksdale’s stock has experienced a severe downtrend, falling from $0.53 to $0.18, a decline driven by lower-grade step-outs at Sunnyside. The gold intercepts at San Javier are unlikely to reverse this trend on their own and are considered a routine technical update. As a pre-revenue explorer, Barksdale relies on positive drill results, but these findings come from re-sampling historical holes rather than a discovery hole, meaning the materiality threshold is not met.

Barksdale Resources Corp. (BRO) is a pre-revenue junior explorer managing a portfolio of assets in Arizona and Mexico. Its Arizona holdings include the Sunnyside Cu-Zn-Ag porphyry project, along with other early-stage Cu-Mo targets. In Mexico, the company holds the San Javier IOCG Cu-Au project.

Sunnyside serves as the company’s flagship asset. Phase II drilling granted Barksdale a 67.5% ownership stake. Mineralization has been traced over a depth of 1,000 meters and a strike length exceeding 600 meters. Recent drilling results included high-grade intercepts, such as 60.96 meters at 0.93% copper, alongside numerous lower-grade step-outs.

The San Javier project features a 2024 Preliminary Economic Assessment (PEA) that identified Measured and Indicated resources of 419 million pounds of copper, excluding NI 43-101 gold. The assessment calculated a pre-tax net present value of C$111.9 million at a copper price of $4.00. Barksdale now owns 100% of the San Javier project.

As of June 2026, Barksdale’s capital structure consisted of 225.4 million shares outstanding, 13.3 million options, and 95.2 million warrants, resulting in a fully diluted share count of 334 million. The company held approximately C$4.2 million in cash as of March 2026. It also carries $4.5 million in convertible debt due in 2028, with a conversion price of $0.12.