BARKSDALE RES CORP - BRKCF STOCK NEWS

Barksdale Resources Corp. has announced a $1,750,000 non-brokered private placement of secured convertible debentures arranged through Delbrook Capital Advisors. This funding, supported by Delbrook, a long-time shareholder, aims to provide liquidity as the company approaches crucial project milestones in 2022. The debentures will mature on December 31, 2022, bear interest at 10% per annum, and are convertible at a 47% premium to the company's recent trading price. Proceeds will be utilized for general corporate purposes and to enhance liquidity without diluting shareholder value.

Barksdale Resources Corp. (OTCQX: BRKCF) has completed a 5,000-meter Phase I drilling program at the Cerro Verde zone in San Javier, Mexico. All 36 drill holes encountered copper mineralization, confirming the expansion of the oxide copper footprint. Key results included 57m of 0.74% copper from surface and additional significant near-surface intercepts. The company aims to produce an updated geological model and calculate a resource estimate in early 2022, with ongoing metallurgical tests indicating favorable heap-leach processing potential.

Barksdale Resources Corp. has announced promising initial drill results from its 5,000-meter core drilling program at the San Javier copper-gold project in Sonora, Mexico. Key findings include Hole SJ21-04 intersecting 38.5m at 0.38% copper and 0.38 g/t gold, and Hole SJ21-05 intersecting 105m at 0.63% copper and 0.40 g/t gold. The results show strong continuity with historical data, indicating significant copper and gold mineralization. The company expects to release further assay results in the coming weeks and into early 2022.

Barksdale Resources Corp. (OTCQX: BRKCF) announced its secured loans update regarding Regal Resources Inc.. Barksdale issued a Default Notice to Regal after their failure to make payments on loans amounting to approximately $1.8 million as of October 19, 2021. Regal owes about $2.8 million to multiple creditors under the Canadian Bankruptcy and Insolvency Act. If Regal can't propose acceptable repayment terms, it may enter bankruptcy, which could lead to asset liquidation. Despite this, Barksdale's ownership in Arizona Standard LLC and the option agreement remain secure.

Barksdale Resources Corp. (OTCQX: BRKCF) has initiated its first drilling program at the San Javier project in Sonora, Mexico, marking a significant milestone in the company's history. The initial 5,000-meter drill program aims to test mineralization controls and provide metallurgical samples for further development. Led by Tom Simpson, the program is expected to last less than twelve weeks, with results contributing to a new resource estimate. The project is part of Barksdale's strategy to advance various base metal projects in North America.

Barksdale Resources Corp. provided an update on July 30, 2021, regarding a debt assignment agreement with Denman Island Chocolate Ltd. and Regal Resources Inc. The agreement, dated May 11, 2021, involves Barksdale acquiring a $1.725 million secured loan with an 8% interest rate. The company will pay $1 million in cash and issue 1,345,310 shares. Completion of this assignment is pending TSX Venture Exchange review. Barksdale continues to advance its base metal projects in Arizona and Mexico, highlighting a focus on exploration and development.

Barksdale Resources Corp. (OTCQX: BRKCF) has terminated its proposed transaction with Regal Resources Inc., as the necessary shareholder votes were not achieved at Regal's meeting on July 7, 2021. CEO Rick Trotman expressed appreciation for Regal's management and shareholders yet highlighted the importance of focusing on Barksdale’s debt recovery from Regal. Barksdale remains Regal's largest secured creditor, holding a $1.725 million loan due October 27, 2021, and is entitled to offset $150,000 in transaction costs against future obligations to Regal.

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.

Barksdale Resources Corp. (OTCQX: BRKCF) announced a 5,000-meter drill program at its San Javier copper-gold project in Sonora, Mexico, set to commence in July, pending approvals. The project aims to confirm historic mineralization and understand the controls of higher-grade deposits. The Phase I drilling will focus on the Cerro Verde zone, known for significant copper and gold mineralization. Barksdale is also preparing a metallurgical test program to evaluate processing potential. Local community agreements and federal permitting are in progress to enable drilling.