Mr. William Wulftange reports

BARKSDALE CLARIFIES AMENDMENT TO CERTAIN OUTSTANDING WARRANTS HELD BY DELBROOK CAPITAL FUNDS

Barksdale Resources Corp. clarifies its news release dated Jan. 20, 2026, that announced the completion of amendments, pursuant to an extension and amendment agreement, to the terms of its secured convertible debentures and associated warrants held by investment funds managed by Delbrook Capital Advisors Inc.

In connection with the amendments, the company agreed to extend the expiry date of 7.5 million common share purchase warrants previously issued to the Delbrook Capital funds from Dec. 31, 2027, to Dec. 31, 2028.

The company reports that, of the 7.5 million warrants originally issued, four million warrants were exercised in October, 2025, prior to the execution of the extension and amendment agreement. Accordingly, only 3.5 million warrants remain outstanding and the expiry date of such 3.5 million outstanding warrants has been extended from Dec. 31, 2027, to Dec. 31, 2028. The January news release referenced an extension of all 7.5 million warrants; however, only 3.5 million outstanding warrants shall be subject to the warrant extension.

Other than the amendments and the warrant extension described above, all remaining material terms and conditions of the convertible debentures and the warrants remain in full force and effect.

The foregoing transaction is considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 and the TSX Venture Exchange as the fair market value of the securities does not exceed 25 per cent of the company's market capitalization.

About Barksdale Resources Corp.

Barksdale's mission is to drive long-term shareholder value through the strategic acquisition, exploration and advancement of high-quality critical, base and precious metal projects across the Americas.

The company is focused on the metals essential to the global energy transition and modern infrastructure -- particularly copper, zinc and other critical minerals -- at a time when secure, domestic and regional sources are more important than ever.

With a sharp focus on critical metals and a commitment to responsible growth, Barksdale is positioned to play a key role in meeting tomorrow's resource needs.

We seek Safe Harbor.