Barksdale Completes First Option Payment ON Four Metals
BRO:TSXV BRKCF:OTCQB
BARKSDALE COMPLETES FIRST OPTION PAYMENT ON FOUR METALS
April 22, 2019 - Vancouver, B.C. – Barksdale Capital Corp. (“Barksdale” or the
“Company”) (TSXV: BRO) (OTCQB: BRKCF) is pleased to announce that it has made
a US$25,000 cash payment and issued 66,032 common shares to Minquest Ltd and
Allegiant Gold Corp (collectively the “Project Vendors”) at a deemed price of
C$0.5051 per share. This payment confirms Barksdale’s intent ion to continue with
the existing option agreement on the 760 -acre Four Metals project, located 3km
south of the Company’s flagship Sunnyside project and approximately 6km south of
South32’s Taylor -Hermosa zinc -lead-silver development project. All the iss ued
shares are subject to a 4 month hold period expiring August 19, 2019. Details of the
option are outlined below.
The Four Metals property hosts an outcropping copper -molybdenum-silver-gold
deposit that has seen multiple exploration campaigns dating back to the early 1900’s.
Historic drilling has outlined breccia -hosted mineralization from surface to
approximately 180 meters depth. Significant drill intercepts from historic drilling
campaigns have included 91.74 meters grading 1.12% copper, 0.061% molybdenum
and 3.63 g/t silver in drill hole UG -4 (0.00 to 91.74 meters depth) as well as 64.01
BRO:TSXV BRKCF:OTCQB
meters grading 1.33% copper, 0.073% molyb denum and 4.37 g/t silver in UG -7
(from 0.00 to 64.01 meters depth). These drill holes were completed prior to the
implementation of NI 43-101 and have not been verified by a “qualified person” and
therefore should not be relied upon.
Option Terms
To exercise the Option and acquire 100% ownership of Four Metals, Barksdale must
make option payments totaling US$450,000 to the Project Vendors. This inclu des
both cash and common shares of Barksdale, based on the market price of the
Company’s shares at the time of issue, over a five-year period as follows:
Date Total Option
Payment Due
Portion of Option
Payment Payable
in Cash
Portion of Option
Payment Payable
in Shares
Upon execution (COMPLETE) US$25,000 US$25,000 N/A
First anniversary (COMPLETE) US$50,000 US$25,000 US$25,000
Second anniversary US$50,000 US$25,000 US$25,000
Third anniversary US$50,000 US$25,000 US$25,000
Fourth anniversary US$50,000 US$25,000 US$25,000
Fifth anniversary US$225,000 US$100,000 US$125,000
TOTAL US$450,000 US$225,000 US$225,000
Lewis Teal, Barksdale’s project manager and a “qualified person” as defined by NI
43-101, Standards of Disclosure for Mineral Projects is responsible for approving the
scientific and technical information regarding Four Metals contained in this news
release.
About Barksdale Capital Corp
Barksdale Capital is focused on the acquisition and exploration of highly prospective
base metal projects in the United States . Barksdale’s portfolio of assets is located
within a world-class base metal district in souther n Arizona and are surrounded by
some of the world’s largest mining companies.
ON BEHALF OF BARKSDALE CAPITAL CORP
Rick Trotman
President and Chief Executive Officer
778-588-7145
BRO:TSXV BRKCF:OTCQB
Terri Anne Welyki
Vice President of Communications
778-238-2333
For more information please phone 778-558-7145, email
[email protected] or visit www.BarksdaleCapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release
includes certain “forward -looking information” under applicable Canadian securities legislation
including, but not limited to, the expected closing date for the Option and the Company’s initial plans for
Four Metals. In addition, the proximity of Four Metals and the Company’s Sunnyside property to South32’s
Taylor-Hermosa deposit is not necessarily indicative of the mineralization within Four Metals or
Sunnyside. Forward-looking information is necessarily based upon a number of estimates and assumptions
that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors
which may cause the actual results and future events to differ materially from those expressed or implied
by such forward-looking information. Accordingly, readers should not place undue reliance on forward -
looking information. The Company disclaims any intention or obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise, except as required
by law.