Vancouver, British Columbia--(Newsfile Corp. - October 22, 2024) - Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF) ("Barksdale" or the "Company") announces that that it has entered into a debt settlement agreement to settle an aggregate of CA$41,367 (US$30,000) in bona fide debt (the "Shares for Debt Transaction") owing to an arm's-length creditor of the Company by issuing 258,543 common shares in the capital of the Company (the "Debt Settlement Shares") at a deemed price of CA$0.16 per Debt Settlement Share.

The Company has entered into the underlying property agreement to secure a suitable location as close to the Sunnyside property as possible to provide a space for loading/unloading and storage of drilling supplies, equipment and tools to support the ongoing drilling program while cutting down daily travel distances. Barksdale intends to satisfy the indebtedness with the Debt Settlement Shares in order to preserve its cash for development of its business. The Debt Settlement Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a statutory four-month hold period from the date of issuance, in accordance with applicable securities legislation. The Shares for Debt Transaction, including the issuance of the Debt Settlement Shares contemplated thereby, is subject to acceptance by the TSX Venture Exchange.

Barksdale Resources Corp., 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.

ON BEHALF OF BARKSDALE RESOURCES CORP

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-Looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the Shares for Debt Transaction and the related issuance of the Debt Settlement Shares are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Barksdale, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain acceptance of the Shares for Debt Transaction by the TSX Venture Exchange. All forward-looking statements contained in this news release is qualified by these cautionary statements and those in the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. Readers should not place undue reliance on the forward-looking statements contained in this news release concerning these items. Barksdale does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

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