Mr. William Wulftange reports

BARKSDALE COMPLETES CONVERTIBLE DEBENTURE EXTENSION AND SECURITES FOR DEBT TRANSACTION

Further to the news releases dated Jan. 13 and Feb. 4, 2025, Barksdale Resources Corp. has received TSX Venture Exchange acceptance in connection with the extension of the maturity date by one year until Dec. 31, 2025, and the reduction of the conversion price to 12 cents per common share of the company of the secured convertible debentures held by Delbrook Resource Opportunities Fund and Delbrook Resource Opportunities Master Fund LP, and administered by Delbrook Capital Advisors Inc. The debentures have a remaining principal amount of $1.5-million, and all other terms of the debentures remain unchanged.

Incidental to the debenture extension, the company issued 1,684,931 units of the company to the creditors in settlement of $151,644 of accrued interest payable on the debentures. Each 2025 interest unit consists of one common share of Barksdale, having a deemed price of nine cents per common share, and one-half of one share purchase warrant. Each 2025 interest warrant entitles the holder to acquire one common share at a price of 12 cents for a period of three years from the date of issuance. Any subsequent interest accrued under the debentures after Dec. 31, 2024, is payable in cash in accordance with the terms and conditions of the debentures.

In exchange for extending the debentures, the company has also issued to the creditors, as an extension fee, eight million share purchase warrants of the company, exercisable into eight million common shares at a price of 12 cents, for a period lasting up to Dec. 31, 2025.

All securities issued with respect to the 2025 interest units, 2025 interest warrants and 2025 extension warrants, and underlying common shares are subject to a four-month hold period expiring June 15, 2025.

Barksdale, a 2023 OTCQX Best 50 company, 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.