Barksdale Completes Phase II Earn-In to Reach 67.5% Ownership of Sunnyside; Advances San Javier Gold Work

Vancouver, British Columbia--(Newsfile Corp. - August 31, 2026) - Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) (FSE: 2NZ) ("Barksdale" or the "Company") is pleased to report that final cash and share payments to Great Basin Metals Inc. ("Great Basin"), formerly Regal Resources Inc., were completed on August 28, 2026. On that date, the Company paid $550,000 in cash and issued 4,900,000 common shares to Great Basin in satisfaction of the remaining Phase II earn-in requirements. The common shares issued to Great Basin are subject to a four-month hold period from the date of issuance, in accordance with Canadian securities legislation. As such, the Company's ownership percentage of Arizona Standard LLC ("Arizona Standard"), holding company of the Sunnyside Property located in the Patagonia mining district of southern Arizona, has increased from 51% to 67.5% and Great Basin's ownership has decreased from 49% to 32.5%.

Barksdale CEO William Wulftange comments, "Reaching 67.5% ownership is a major accomplishment for Barksdale and I congratulate all involved. We now look forward to working with the Great Basin delegates to forge a common path forward at Sunnyside, a project we believe has the potential to host a significant copper system in Arizona."

Management Committee and Joint Funding

As of August 28, 2026, Arizona Standard's Sunnyside Property will be operated under the direction of a Management Committee chaired by Barksdale, composed of three delegates representing Barksdale and two delegates representing Great Basin. All approved spending will be funded based on the 67.5% and 32.5% ownership percentages. The Company intends to present an initial budget to the Management Committee in early September 2026, which would provide for completion of the Fall 2026 diamond drill program, an airborne ZTEM survey over the property, and other supporting expenditures. Approval of the budget and the timing of any work program are subject to the approval of the Management Committee.

Under the Arizona Standard LLC joint venture agreement, each member is required to fund approved expenditures in proportion to its ownership interest. The agreement sets out the timing of contributions and the consequences where a member does not fund its share. The agreement also governs the composition and operation of the Management Committee.

San Javier

The property option agreement between Barksdale (and its subsidiary, Estrella de Cobre, S.A. de C.V.) and Tusk Exploration Ltd. ("Tusk Exploration") (and its subsidiary San Javier de Cobre, S.A. de C.V.) to purchase 100% of Tusk Exploration's San Javier Property was executed on September 22, 2020, and included 12 named concessions. All required cash and share payments are paid and transfer of the 12 concession titles is underway.

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