February 22, 2021 – Xander Resources Inc. (TSXV: XND) (FSE:1XI) (OTCQB: XNDRF) (“Xander” or the “Company”) is pleased to announce the preparation of drill pads on the Senneville Claim Group in Val-d’Or East where drilling is now scheduled to commence in March 2021. This further delay is due to the high demand for equipment and experienced labour in an unprecedented market. The level of drilling activity in Quebec combined with COVID related restrictions and a shortage of replacement drilling parts have all exacerbated an already highly competitive situation in Quebec. Despite this delay Xander is encouraged by news that Monarch Mining are currently continuing an exploration program on their contiguous claims which are on strike to the Senneville Claim Group.
Xander’s Senneville Claim Group comprise of over 90 sq. km and is contiguous to Probe Metals new discovery, in the South and contiguous to Monarch Mining in the North and in close proximity to QMX Gold projects in the Val-d’Or Gold Camp, soon to be Eldorado Gold. The Senneville Claim Group is located in the eastern part of the Abitibi Greenstone Belt, about 25 km northeast of the gold mining center of Val-d’Or, which extend from the Lacorne Batholith in the west to the contact area of the Pascalis Batholith in the east, contiguous to Probe Metals new discovery. (Probe Metal press release Oct. 28, 2020)
The Company plans to drill the first 3 holes of a 9-hole program totaling over 3,000 meters to confirm the successful drilling done on the property in 2012 (reported in the Company’s press release dated November 19, 2020). The sites are being prepped with Drill pads and just off Route 397 Nord and 22 km North of Val-d’Or, Quebec. Gold-bearing zones in this area are associated with shear zones, faults, tension fractures and tectonic breccias and generally associated with syn-volcanic intrusions (ref: GM68366 garden island report page 24 (section deposit type))
Xander has planned a $1.6 million exploration budget for 2021 that will complete work programs on the Senneville Claim Group in the Val-d’Or Gold Camp, on the Blue Ribbon Property in the Fenelon Gold Camp, and on the Bachelor North Property in the Urban Barry Gold Camp.
James Hirst, CEO stated, “Now that Monarch Mining are currently continuing an exploration program on strike and contiguous to Xander, what I said on January 7, 2021 is worth repeating: “We are extremely encouraged by the results announced by other companies who are actively conducting successful exploration programs in proximity to our Senneville Claim Group. We are contiguous to Probe Metals who are currently active on the Pascalis Gold Trend where they announced drilling results of 5.9 g/t Au over 9.2 meters. Probe Metals also announced the discovery of two new gold zones, one of which returned 94.1 g/t Au over 0.6 meters 2.5 kms to the south and contiguous to Probe Metals is QMX Gold who are expanding their Bonnefond deposit where they reported 6.48 g/t Au over 73.2 meters. To our north we are contiguous to Monarch Mining Corporation (TSX:GBAR), formerly Monarch Gold who, on November 2, 2020, announced their acquisition by Yamana Gold for approximately $152 million, effectively selling their Wasamac underground project to Yamana. Wasamac has proven and probable reserves of 1.8 million ounces of gold at 2.56 g/t.”.”
About Xander Resources:
Xander Resources is a junior exploration company focused on developing accretive Gold properties within Canada. The Company currently has a focus on projects located in three gold camps on the Abitibi Greenstone Belt within the Province of Quebec.
Daniel Turcotte, P.GEO. an Independent Qualified Person (“QP“) as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release.
The QP has not completed sufficient work to verify the historic information on the Properties, particularly in regard to historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Xander property but may not be representative of expected results.
ON BEHALF OF THE BOARD OF DIRECTORS