Mr. Rick Trotman reports

BARKSDALE ANNOUNCES REPLACEMENT CONVERTIBLE DEBENTURES

Barksdale Resources Corp. is seeking TSX Venture Exchange acceptance for an extension of the maturity date and a reduction of the conversion price of the aggregate $1.5-million principal amount of the secured convertible debentures held by Delbrook Capital Advisors Inc. that were originally issued on Jan. 25, 2022. Barksdale is also seeking TSX-V acceptance to issue an aggregate of eight million detachable common share purchase warrants (the new warrants) to Delbrook as the previously issued 2,777,777 common share purchase warrants held by Delbrook expired unexercised on Dec. 31, 2024.

The debentures bear interest at a rate of 10 per cent per annum and are convertible into common shares of the company. The company is seeking approval of the TSX-V to, among other things, reduce the conversion price of the debentures from 55 cents to 18 cents pers share and extend the maturity date to Dec. 31, 2025. In connection with Delbrook agreeing to the amendments, the company will also issue the new warrants to Delbrook in connection with the amendments. Each new warrant shall entitle the holder to acquire one share at a price of 18 cents per share until Dec. 31, 2025. Additionally, Delbrook and the company have agreed, subject to the receipt of corporate and regulatory approvals, including acceptance by the TSX-V, to a securities-for-debt settlement, pursuant to which the interest accrued under the debentures in the aggregate amount of $151,643.84 will be satisfied by the issuance of 1,045,819 units of the company at a deemed price of 14.5 cents per unit. Each unit shall consist of one share and one-half of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional share at an exercise price of 18 cents per share for a period of three years from the date of issuance. Any subsequent interest accrued under the debentures after Dec. 31, 2024, shall be payable in accordance with the terms and conditions of the debentures and the policies of the TSX-V.

Delbrook has agreed to temporarily waive the payment obligations on the debentures which were due and payable on Dec. 31, 2024, until Jan. 17, 2025, in order to give the parties time to obtain the requisite approval of the TSX-V for the amendments, the issuance of the new warrants and the interest debt settlement, and to enter into definitive documentation with respect to the amendments. The debentures have a remaining principal amount of $1.5-million and are not new funds to the company.

All newly issued securities in connection with the above will be subject to a four-month-plus-one-day hold period in accordance with Canadian securities legislation.

About Barksdale Resources Corp.

Barksdale Resources is a base metal exploration company headquartered in Vancouver, B.C., 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 the Patagonia mining district of southern Arizona, as well as the San Javier copper-gold project in central Sonora, Mexico.

We seek Safe Harbor.