Xander Resources Options Senneville Gold Copper Project
Vancouver, British Columbia / May 21st, 2024 – Xander Resources Inc. (“XND” or the “Company”) (TSXV: XND), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to announce that, subject to the approval of the TSX Venture (the “Exchange”), the Company has executed an option (the “Option Agreement”) with Troubadour Resources Inc. (“Troubadour” or the “Optionor”) for the right to purchase an undivided 100% interest in 173 mineral claims comprising Xander’s Senneville Project (the “Project), located in the eastern part of the Abitibi Greenstone Belt, about 25 km northeast of the gold mining center of Val-d’Or, Quebec.
Pursuant to the Option Agreement (the “Agreement”), Troubadour may acquire a 100% interest in the Project by issuing an aggregate of 5,000,000 common shares in the capital of the Troubadour and complete $2,000,000 in work expenditures as indicated in the table below:
| Payment Date | Shares | Work Commitment |
|---|---|---|
| Signing | 2,500,000 | - |
| 6 months | 2,500,000 | |
| 12 months | - | - |
| 24 months | - | $2,000,000 |
| Notes | 1. Payable within five (5) days from receipt of approval to the Agreements from the Exchange (the “Approval”). 2. Shares of the Company are to be issued at a deemed value based on the Discounted Market Price at the time of issuance. |
The Project has the following net-smelter returns royalties (the “NSR”) which will be assumed by the Troubadour:
- 2% NSR to North American Exploration Ltd. for 72 claims
- 2% NSR to Silverwater Capital Corp. for 62 claims
- 2% NSR to Terrance Coyle / 9093-6725 Quebec Inc. for 39 claims
The Option Agreement, including the issuance of Shares, remains subject to the approval of the Exchange.
About Xander Resources Inc.
Xander Resources Inc. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Xander trades on the TSX Venture Exchange under the symbol XND.
XANDER RESOURCES INC.
“Deepak Varshney”
CEO and Director For more information, please email [email protected].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
No Offer or Solicitation to Purchase Securities in the United States
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.