Barksdale Resources raises $5 million to advance Sunnyside project

Barksdale Resources Corp. (TSXV: BRO) announced plans to raise $5 million through a private placement of approximately 55.6 million units priced at $0.09 per unit. Each unit consists of one common share and half of a share purchase warrant exercisable at $0.15 for two years following the offering's completion.

The proceeds will fund the company's Phase II drill campaign at the Sunnyside project in Arizona, cover an earn-in payment to Great Basin Metals Inc., and support corporate expenses. The financing aims to help Barksdale achieve 67.5% ownership of the Sunnyside project.

The company has engaged Alford Drilling to complete a 25,000-foot drill program scheduled to begin in February and take two to three months to complete. The program will test near-surface copper and gold mineralization and structural extensions of the World's Fair Mine.

Barksdale appointed Christina McCarthy to its board of directors. McCarthy is a geologist with 18 years of experience in resource capital markets and previously founded Paycore Minerals Inc., which was acquired by i-80 Gold Corp. in 2023. She has also held corporate development roles at McEwen Mining and New Oroperu Resources.

"Following completion of the Phase II drill program and achieving 67.5% ownership of the Sunnyside project, Barksdale will return our focus to testing and defining the extension(s) of the Peake Deposit onto the Sunnyside Property," said CEO William Wulftange.

The company has engaged Medalist Capital Advisors Inc. as exclusive finders for the offering, agreeing to pay a 6% commission in units with similar warrant terms. All dollar amounts are in Canadian currency unless otherwise stated.

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