VANCOUVER, British Columbia–(Newsfile Corp. – April 25, 2023) – Barksdale Resources Corp. (TSXV:BRO) (OTCQB:BRKCF) (“barksdale” or “company“) is a wholly owned subsidiary of MinQuest, Ltd. and Allegiant Gold Ltd. (together “Allegiant“) was first announced on April 19, 2018 (“Option contractThe final payment was made on a 50/50 basis, issuing US$100,000 in cash and a total of 261,813 shares of common stock at a deemed price of CAD$0.64 per share. This payment completes Barksdale’s commitments under the option agreement. The acquisition includes a 100% undivided interest in the 760-acre Four Metals Project, located in Santa Cruz County, strategically located approximately 3 km south of our flagship Sunnyside Project, 100% within the Patagonian Mountains. Located 2 km west of our San Antonio project. Arizona. Shares issued are subject to a four-month holding period ending August 25, 2023.
Payments made under the option agreement occurred over a five-year period as follows:
| date | cash | value of accounts payable | number of shares | Deemed price (Canadian Dollar) | Hold period expired |
| runtime | US$25,000 | none | 0 | none | none |
| 1st anniversary | US$25,000 | US$25,000 | 66,032 | $0.5051 | August 19, 2019 |
| second anniversary | US$25,000 | US$25,000 | 136,986 | $0.2577 | August 22, 2020 |
| 3rd anniversary | US$25,000 | US$25,000 | 61,888 | $0.504 | August 28, 2021 |
| 4th anniversary | US$25,000 | US$25,000 | 67,736 | $0.465 | August 20, 2022 |
| 5th anniversary | US$100,000 | US$125,000 | 261,813 | $0.64 | August 25, 2023 |
| total | US$225,000 | US$225,000 | 594,455 |
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4 Previous subsurface and surface exploration drillings at metal projects have outlined copper-molybdenum deposits hosted within mineralized breccia pipes. It has been tested to a depth of about 180 meters below the surface and remains open in multiple directions.
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Louis Thiel, Barksdale Project Manager and “Qualified Person” as defined in NI 43-101, Mineral Project Disclosure Standards is responsible for approving the scientific and technical information regarding the four metals contained in this news release.
Barksdale Resources Corporation, A member of the 2023 OTCQX Best 50, is a base metals exploration company headquartered in Vancouver, British Columbia, focused on acquiring, exploring and advancing highly promising base metals projects in North America. Barksdale currently has the Sunnyside copper-zinc-lead-silver and San Antonio copper projects in the Patagonia mining district of southern Arizona and the San He Javier copper-gold project in central Sonora, Mexico. .
On behalf of Barksdale Resources Corporation
Rick Trotman
Representative Director and President
Rick@barksdaleresources.com
Terry Ann Weriki
Vice President of Communications
778-238-2333
TerriAnne@barksdaleresources.com
For more information, call 778-558-7145, email info@barksdaleresources.com, or visit: www.BarksdaleResources.com.
Cautionary Note Regarding Forward-Looking Information: This news release contains “forward-looking information” under applicable Canadian securities laws. Moreover, the proximity of the company’s properties (Four Metals, Sunnyside, and San Antonio) to the Taylor-Hermosa deposit at South32 does not necessarily indicate mineralization within the company’s properties. Such forward-looking information reflects management’s current beliefs and, while believed to be reasonable, is subject to known and unknown risks, uncertainties and other causes. Based on a number of estimates and assumptions made by us and information currently available to us, which may be affected by certain factors. Actual results and future events may differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information is neither a promise nor a guarantee, including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and unstable stocks and capital. Please note that you are subject to unknown, known and unknown risks and uncertainties. market, lack of available capital, actual results of exploration activities, environmental risks, future prices of base metals, operational risks, accidents, labor problems, delays in obtaining government approvals and permits, and other risks in the mining industry. Moreover, the regional proximity and similarity of the Cosmos drilling target to certain large porphyry copper deposits in the Patagonian Mountains does not necessarily indicate mineralization on the San Antonio estate. There are currently no NI 43-101 resources or reserves on the San Antonio site. All forward-looking information contained in this news release is qualified by these cautionary statements and the continuing disclosure documents available at SEDAR. www.sedar.comAccordingly, readers should not place undue reliance on forward-looking information. We disclaim 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.
To view the source version of this press release, please visit: https://www.newsfilecorp.com/release/163608
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