Resources

Strategic shareholder retains stake in Barksdale Resources

Vancouver, British Columbia–(Newsfile Corp. – October 3, 2022) – Barksdale Resources Corp. (TSXV: BRO) (“Barksdale“or the”Company“) is pleased to announce that Teck Resources Limited (“teak“), a significant shareholder of the Company and one of Canada’s leading mining companies, has elected to exercise its pro rata equity participation rights and will subscribe for 550,000 Units (the “Units“) for gross proceeds of $264,000 (“Funding“). The Units have identical terms to the financing closed on September 21, 2022. Each Unit consists of one share and one-half (1/2) of a transferable share purchase warrant, each share purchase warrant allowing the holder to purchase one common share at $0.72 for a period of three years. After the financing, Teck will own approximately 9.9% of Barksdale’s equity on a partially diluted basis.

The net proceeds of the financing will be used to advance the Company’s mining projects and for general corporate and working capital purposes. The Company expects closing to occur on or about October 5, 2022 and all shares issued under the financing are subject to a hold period of four months from the date of closing. The Financing is subject to the approval of the TSX Venture Exchange. No fees were paid in connection with the offering of Teck. Teck will retain its pro rata equity rights so long as it holds more than 5% of Barksdale’s outstanding common stock.

The Company also announces that following its press release dated September 6, 2022, it has received acceptance from the TSX Venture Exchange to extend the expiry date of a total of 7,597,836 stock warrants, issued on September 29, 2020 and 690,790 stock warrants issued on October 1, 2020 (collectively, the “Mandates“) in a non-brokered private placement. These 8,288,826 warrants are exercisable into 8,288,826 common shares. They will remain at an exercise price of $0.55 per share and will expire on January 31 2023.

Barksdale Resources Corp. is a base metal exploration company headquartered in Vancouver, British Columbia, 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 located in the Patagonia mining district in southern Arizona, as well as the San Javier in central Sonora, Mexico.

ON BEHALF OF BARKSDALE RESOURCES CORP

Rick Trotman
President, CEO and Director
This email address is protected from spam. You need JavaScript enabled to view it.

Terri Anne Welyki
Vice President of Communications
778-238-2333
This email address is protected from spam. You need JavaScript enabled to view it.
For more information, please call 778-558-7145, email This email address is protected from spam. You need JavaScript enabled to view it. 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 press release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release contains “forward-looking information” under applicable Canadian securities laws, including, but not limited to, the Company’s proposed use of the proceeds of the Offering. This forward-looking information reflects management’s current beliefs and is based on a number of estimates and assumptions made by the Company and on information currently available to it which, while believed to be reasonable, is subject to known risks. and unknowns, uncertainties and other factors that could cause 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 is neither promise nor guarantee, and is subject to known and unknown risks and uncertainties, including, but not limited to, general business, economic, competitive, political and uncertain and volatile equity, equity and capital. markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base metals and other metals, operating risks, accidents, labor issues implementation, delays in obtaining government approvals and permits and other risks in the mining industry. Additionally, there is uncertainty about the continued spread of COVID-19, the ongoing war in Ukraine, rising inflation and interest rates and the impact they will have on the Company. .s operations, supply chains, ability to access mining properties, perform due diligence or procure equipment, contractors and other personnel on a timely or non-timely basis and the activity economy in general. All forward-looking information contained in this press release is qualified by these cautionary statements and those contained in our continuous disclosure documents 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.

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL ANY SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY UNITED STATES SECURITIES LAW, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO US PERSONS, UNLESS REGISTERED OR EXEMPT FROM THEREOF.