Barksdale Completes Phase II Earn-In to Reach 67.5% Ownership of Sunnyside; Advances San Javier Gold Work

Barksdale Resources Corp. has completed the final cash and share payments for Phase II earn-in requirements, increasing its ownership in Arizona Standard LLC, which holds the Sunnyside Property, from 51% to 67.5%. Consequently, Great Basin Metals Inc.'s stake decreased to 32.5%. The transaction involved a cash payment of $550,000 and the issuance of 4,900,000 common shares to Great Basin, subject to a four-month hold period.

A new Management Committee structure was established for the Sunnyside Property, chaired by Barksdale, with spending funded proportionally to ownership at 67.5% for Barksdale and 32.5% for Great Basin. An initial budget for Fall 2026 drilling and ZTEM surveys is pending approval.

On the San Javier property, all cash and share payments for the 12-concession acquisition from Tusk Exploration are complete, with title transfers underway. Additionally, resampling of drill core rejects returned favorable gold results, and the company is proceeding to metallurgical testwork, including column and bottle roll tests, to estimate recoveries and define an initial gold resource.

Barksdale Resources Corp. (BRO) completed its Phase II earn-in, a milestone that was fully anticipated based on prior drilling announcements and financing rounds. The transaction involved the issuance of 4.9 million shares, which is dilutive but expected and priced at a premium to recent trading levels.

The news confirms management's execution of the earn-in plan and advances the San Javier gold work, aligning with previous guidance. The transaction secures majority control but does not alter the fundamental pre-revenue, exploration-stage nature of the company. The impact is incremental and expected.

Barksdale Resources Corp. (BRO) is a pre-revenue junior exploration company focused on critical metals, including copper, gold, silver, and zinc, across projects in Arizona, USA, and Sonora, Mexico. Its flagship Sunnyside Property in Arizona hosts hypogene chalcocite mineralization and a potential porphyry Cu-Mo system. Phase II drilling at the site confirmed over 1,000 meters of continuous vertical copper mineralization.

The company also operates the San Javier project in Mexico, an IOCG deposit that reported 419.2 million pounds of copper and a pre-tax NPV of $118.8 million in its 2024 Preliminary Economic Assessment. Recent resampling has identified significant gold intercepts, prompting a move toward a gold resource estimate. Additional assets in the portfolio include the Canelo, Goat Canyon, San Antonio, Four Metals, and Guajolote projects in Arizona.