Barksdale Resources Corp. (TSX-V: BRO) (OTCQB: BRKCF) (FSE: 2NZ) is pleased to report that all remaining payments to Tusk Exploration Ltd. to acquire 100% ownership of the San Javier Project in Sonora, Mexico, are complete. The Company has made the final installment payment of C$227,500, issued 4,550,000 Barksdale shares, and consolidated all remaining concessions from the 2020 transaction (Figure 1).

Figure 1. San Javier de Cobre location and 12 concessions acquired, including Cerro Verde (5), San Carlos (3), Cobre Nuevo (1) and Las Tunas (3).

The San Javier Project hosts an IOCG (iron-oxide-copper-gold) type deposit located 140 kilometres east of Hermosillo and adjacent to Federal Highway 16. Following the 2021 diamond core drill program, the Company engaged Tetra Tech Canada, Inc. to complete a Preliminary Economic Assessment level resource estimation, which was issued in January 2024. The study reported total Measured and Indicated Mineral Resource of 419.2 million pounds of copper with 289.4 million pounds of copper recoverable using heap leach technology (Table 2). The study acknowledged that gold mineralization was present but did not estimate a resource for gold.

2026 Gold Resource Project

Barksdale management and geologists recognized that the 2024 PEA resource estimation noted the presence of gold values in the 2021 and historical drill assay results, yet gold content was not part of the final PEA economics nor final resource estimation. To update and estimate the overall gold content at San Javier, the Company identified five holes drilled in 2007 proximal to the 2021 gold bearing holes SJ21-04 and SJ21-05 (Figure 2). Geologists collected 178 samples from historical preserved “reject” samples for gold analysis. They added proper deposit type standards to the samples and submitted the batch to ALS Chemex for analysis.

Table 1. Gold intercepts from the 2021 and 2026 re-sampling program of 2007 drill campaigns.

Results show multiple gold intercepts in four of the five 2007 holes sampled (Table 1). Assay results include shallow, near surface mineralization, including 6 metres of 0.345 g/t Au and 18 metres of 0.504 g/t Au and deeper high-grade mineralization including 9 metres of 3.464 g/t Au, results consistent with the 2021 intercepts (Figure 2). Leapfrog resource modelling software approximates a 28% increase in volume compared to the 2021 modeled results (Figure 2). Deposit average grades have not been estimated at this time.

The Company has engaged Mr. Antonio Loschiavo, P. Eng., President of AKF Mining Services, to review these recent results and determine the impact a gold resource could have on the current, Copper-only San Javier Project resource base and overall economics of the deposit. The Company expects to complete an update to the copper and gold mineral resource inventory using current commodity price points and production costs. This evaluation may lead to an update to the PEA or possibly point to a Pre-Feasibility Study evaluation.

Figure 2. A-A’ cross section showing 2021 drill intercepts in white background and newly received 2007 intercepts in red background.

Table 2. NI 43-101 compliant resource table from 2024 Tetra Tech PEA on San Javier Property, Sonora, Mexico.

Quality Assurance / Quality Control

All drill core rejects were delivered to ALS Global preparation facilities in Hermosillo, Sonora. Samples were passed through a riffle splitter to obtain a 250-gram split (SPL-21), with the material obtained milled to a pulp with 85% passing 75μm. The pulps were sent to ALS Global facilities, an accredited (ISO 9001) laboratory in Vancouver, BC, to be tested for its gold content by Fire Assay 30g aliquot with Atomic Absorption finish (Au-AA23). Control samples including certified reference and blank samples were systematically inserted into the sample sequence and analyzed as part of the Company’s quality assurance/quality control protocol.

Au-AA23 Process: A prepared sample (30g or 50g) is fused with a mixture of lead oxide, sodium carbonate, borax, silica, and other reagents as required, inquarted with 6 mg of gold-free silver and then cupelled to yield a precious metal doré bead. Dilute nitric acid is added to the doré bead to remove Ag, then hydrochloric acid is utilized to decompose the Au, with each step including heating via microwave oven. The digested solution is cooled, diluted to a final volume of 4 mL with demineralized water, and analyzed by atomic absorption spectroscopy against matrix-matched standards. Scientific and technical information in this news release has been reviewed and approved by Jorge Cirett, a Senior Consultant to the Company and a Qualified Person as defined under Canadian National Instrument 43-101.