Barksdale Provides Corporate Update

Rhea-AI Summary

Barksdale Resources Corp. has announced updates related to its consolidation of a 100% interest in the Sunnyside project in Arizona, following a definitive agreement with Regal Resources Inc. The Shareholder Meeting to approve the transaction is scheduled for July 7, 2021. Additionally, Barksdale has exercised its option to acquire a 100% interest in the Guajalote mining claim, issuing 100,138 common shares valued at US $50,000. Barksdale focuses on advancing prospective base metal projects in North America, including the Sunnyside and San Antonio projects.

Positive

• Consolidation of 100% interest in the Sunnyside project enhances the company's asset portfolio.
• Successful issuance of common shares demonstrates progress in acquiring the Guajalote mining claim.

Negative

• Transaction requires regulatory and shareholder approval, introducing uncertainty.
• Potential impact from market volatility and COVID-19 on exploration activities.

VANCOUVER, BC / ACCESSWIRE / June 17, 2021 / Barksdale Resources Corp. ("Barksdale" or the "Company") (TSXV:BRO) (OTCQX:BRKCF) is pleased to provide the following updates to shareholders. The Company announced on May 12, 2021, that it had executed a definitive agreement with Regal Resources Inc., ("Regal") whereby Barksdale will consolidate a 100% interest in the Sunnyside project, located in Santa Cruz County, Arizona, USA (the "Transaction").

The Company has been informed by Regal that its management information circular for the special meeting of Regal shareholders ("Shareholder Meeting") related to the Transaction has been uploaded to Regal's SEDAR profile at www.sedar.com. The Shareholder Meeting is scheduled for 10:00AM (Pacific Time) on Wednesday July 7, 2021.

The Transaction is subject to regulatory approval as well as approval by Regal shareholders. The board of directors of Regal has determined that the proposed Transaction is in the best interests of Regal, is fair to its shareholders and is recommending that shareholders of Regal vote in favor of the proposed Transaction.

Further to the Company's news release of June 17, 2020, the Company has decided to proceed with its option to acquire a 100% interest in the Guajalote patented mining claim, which is located within close proximity to the Company's projects in Arizona and is surrounded by South32's Hermosa project. To exercise its option, the Company has issued a total of 100,138 common shares with a deemed value of US $50,000 to the Optionors. All shares issued to the Optionors are subject to a four month hold period, which expires October 11, 2021.

Barksdale Resources Corp. is a base metal exploration company headquartered in Vancouver, BC, that is focused on the acquisition, exploration and advancement of highly prospective base metal projects in North America. Barksdale is currently advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects, both of which are in Patagonia mining district of southern Arizona, as well as the San Javier copper-gold project in central Sonora, Mexico.

ON BEHALF OF BARKSDALE RESOURCES CORP

Rick Trotman
President, CEO and Director
Rick@barksdaleresources.com

Terri Anne Welyki
Vice President of Communications
778-238-2333
TerriAnne@barksdaleresources.com

For more information please phone 778-238-2333, email info@barksdaleresources.com or visit www.BarksdaleResources.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. In addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the Company's operations, supply chains, ability to access mineral properties, conduct due diligence or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All forward-looking information contained in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Barksdale Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/652024/Barksdale-Provides-Corporate-Update

FAQ

What is the recent transaction involving Barksdale Resources Corp. and Regal Resources Inc.?

Barksdale Resources Corp. executed a definitive agreement to consolidate a 100% interest in the Sunnyside project from Regal Resources Inc.

When is the shareholder meeting for Regal Resources Inc. regarding the Barksdale transaction?

The shareholder meeting is scheduled for 10:00 AM Pacific Time on July 7, 2021.

What is the significance of Barksdale's acquisition of the Guajalote mining claim?

Acquiring the Guajalote claim enhances Barksdale's project portfolio and strategic position in Arizona.