Barksdale Announces $5 Million Private Placement to Advance Sunnyside Exploration Towards 67.5% Ownership and Welcomes Christina McCarthy to the Board

On January 21, 2026, Barksdale Resources Corp. announced a non-brokered private placement to raise gross proceeds of CAD $5,000,000. The financing involves the issuance of 55,555,555 units at a price of $0.09 per unit. Each unit consists of one common share and one common share purchase warrant exercisable at $0.15 for 24 months.

Use of proceeds is specifically earmarked for: - Funding the Phase II drill campaign (25,000 feet / 7,620 meters). - Making the Phase II earn-in payment to Great Basin Metals Inc. - General corporate expenses.

Concurrent with this financing: - Board Appointment: Christina McCarthy, a geologist with capital markets experience (ex-Paycore Minerals, McEwen Mining), has been appointed to the Board of Directors. - Shares for Debt: The company announced a separate transaction to settle $351,369 in accrued interest on convertible debentures held by Delbrook Capital by issuing 3,904,110 common shares at a deemed price of $0.09. - Drill Program: A 25,000-foot Phase II drill program is scheduled to begin in February 2026 to test near-surface chalcocite and extensions of the Peake Deposit, a requirement to reach 67.5% ownership of the Sunnyside project.

This news is Material - Positive primarily because it removes the immediate insolvency risk and funds the critical earn-in requirements for the company's flagship asset. - Solvency & Liquidity: As of September 30, 2025, Barksdale held only ~$618k in cash against significant payables and debt service obligations. This $5M injection is a survival necessity. - Project Advancement: The financing ensures the company can complete the Phase II earn-in (drilling + cash payments) to lock in a 67.5% interest in Sunnyside. Without this, they risked stalling or losing leverage on the JV. - Valuation Anchor: The placement price of $0.09 represents a discount to the recent trading price ($0.11), which is typical for junior miners but sets a near-term price anchor. - Governance: The addition of Christina McCarthy adds technical and market credibility, suggesting a push toward better asset marketing or eventual M&A positioning.

Barksdale Resources Corp. is focused on the exploration and development of base metal projects in Arizona, USA. - Flagship Project: Sunnyside Project (Arizona). * Thesis: Sunnyside is believed to host the extension of South32’s world-class Taylor and Peake deposits (Hermosa Project). Barksdale is exploring for copper-zinc-lead-silver porphyry and carbonate replacement deposits (CRD). * Status: Currently holds 51% ownership; Phase II drilling is commencing to earn into 67.5% ownership. - Secondary Projects: San Javier (Sonora, Mexico) and other Arizona holdings (San Antonio, Goat Canyon).