Barksdale Completes First Option Payment On Four Metals

About this update from Barksdale Resources Corp.

[{"type":"text","content":"Barksdale Completes First Option Payment On Four MetalsVANCOUVER, B.C. / ACCESSWIRE / April 22, 2019 / 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 intention 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 issued 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 meters grading 1.33% copper, 0.073% molybdenum 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 TermsTo exercise the Option and acquire 100% ownership of Four Metals, Barksdale must make option payments totaling US$450,000 to the Project Vendors. This includes 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 Tea...

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