Barksdale Resources Completes Payment for 51% Ownership of Sunnyside

Executive Summary

• Barksdale Resources completed Phase I earn‑in by paying C$1 million and issuing 5 M shares to Regal Resources (now Great Basin Minerals), securing a permanent 51% interest in the Sunnyside project, Arizona.
• The company announced its Phase II earn‑in plan: an additional C$550,000 cash payment, issuance of 4.9 M shares, and completion of a 7,260 m (25,000 ft) drill program to increase ownership to 67.5% within the next two years.
• A fall 2025 drill campaign targeting copper‑silver‑base metal extensions of South32’s Taylor and Peake deposits has been designed; bids from drilling contractors are being solicited.

Key Details

• Phase I Earn‑In Completion
• Cash payment: C$1,000,000
• Shares issued: 5,000,000 Barksdale shares (subject to a four‑month trading hold)

• Resulting ownership: 51% permanent interest in Sunnyside project

• Phase II Earn‑In Requirements

• Additional cash required: C$550,000
• Additional shares to be issued: 4.9 M Barksdale shares
• Target ownership after Phase II: 67.5% permanent interest

• Drilling commitment: 7,260 m (25,000 ft) of core drilling

• Proposed Fall 2025 Drill Campaign

• Total planned drill length: 7,260 m (25,000 ft)
• Primary targets: copper‑porphyry style mineralization, silver, manganese, antimony, and other base metals on the Sunnyside property
• Historical context: Targets originally identified by ASARCO (1970–1992) but not fully followed up

• Current status: Bids being solicited from qualified drilling contractors

• Technical Oversight

• Qualified Person: William Wulftange, Reg. Mem., SME – CEO and Director of Barksdale, reviewed and approved technical content under NI 43‑101.

Notable Quotes

“Completion of all the Phase I earn‑in stipulations outlined in the Barksdale‑Regal joint venture agreement within the two‑year period is a significant accomplishment on behalf of all Barksdale stakeholders,” – CEO William Wulftange

“Just as important, the associated drill programs have intersected the down‑dip extension of South32’s Taylor deposit and initiated testing of copper porphyry‑style mineralization located solely on the Sunnyside Property…” – CEO William Wulftange

Materiality Assessment: Material – Positive (completion of a key earn‑in milestone and disclosure of a substantial upcoming drilling program that could materially affect ownership and project economics).