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VANCOUVER, BC / ACCESSWIRE / June 17, 2020 / Barksdale Resource Corp. ("Barksdale" or the "Company") (TSXV:BRO)(OTCQB:BRKCF) is pleased to announce that it has secured an option to acquire a 100% interest in a patented mining claim. The property is located within close proximity to the Company's projects in Arizona and is surrounded by South32's Hermosa project.
Under the terms of an option agreement dated June 15, which is subject to TSX Venture Exchange acceptance, Barksdale will pay the arm's length vendors ("Optionors") 89,445 common shares of Barksdale to acquire a twelve-month option over the property. The option will give Barksdale the right, but not the obligation, to acquire a 100% interest in the patented mineral claim from the Optionors in consideration for US$50,000 worth of Barksdale shares and US$50,000 in cash. All shares issued to the Optionors will be subject to a four month hold period.
Barksdale's President and CEO, Rick Trotman commented, "This marks the fifth property deal that Barksdale has inked since late 2017 when we made our commitment to this world-class mineral district. Over the past few months, we have seen an increase in the number of local owners interested in working with us and are hopeful that we will be able to continue to further consolidate our land position within the district."
About Barksdale Resources Corp.
Barksdale is a base metal exploration company headquartered in Vancouver, BC, that 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 southern Arizona and is surrounded by some of the world's largest mining companies.
ON BEHALF OF BARKSDALE RESOURCES CORP.
President and Chief Executive Officer
Terri Anne Welyki
Vice President of Communications
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.
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" under applicable Canadian securities legislation. 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.
SOURCE: Barksdale Resource Corp.