NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN Xander Resources Begins Exploration Work at the Timmins Nickel Project, Announces Non-Brokered Private Placement and Closing of Acquisition of Claims West of CNC’s Crawford Project
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES
NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Xander Resources Begins Exploration Work at the Timmins Nickel Project,
Announces Non-Brokered Private Placement and
Closing of Acquisition of Claims West of CNC’s Crawford Project
Vancouver, British Columbia / November 17, 2022 – Xander Resources Inc. (“Xander” or the
“Company”) (TSXV: XND) (OTCQB: XNDRF) (FSX: 1XI) 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 its technical team has mobilized and arrived onsite in preparation for the start of
drilling for its near-term drill program at its Timmins Nickel Project (the “Project”) in located in Timmins,
Ontario. The Company has begun clearing access roads and the construction of drill pads in preparation for
drilling.
The drill program will commence in the coming weeks and is anticipated to comprise between 2,500 and
4,000 metres with a focus on the Company’s “North Block” of claims, in particular near Canada Nickel
Company’s (“CNC”) recently identified Reid Discovery which has already through early exploration
delineated a mineralized footprint 90% as large as CNC’s Crawford Project where CNC has completed a
preliminary economic assessment only 20 months after the commencement of exploration drilling that
indicates 25-year mine with an after-tax NPV8% of $1.2 billion.
Deepak Varshney, CEO of Xander Resources stated: “We are very excited to have boots on the ground and
look forward to the start of drilling and beginning our journey in Timmins . Commencing exploratory
drilling is an important milestone and we believe that this project is part of the journey we will need to take
in North America to secure a domestic supply of nickel.”
The Company is also pleased to announce that, subject to the approval of the TSX Venture Exchange (the
“Exchange”), it is proceeding with a non-brokered private placement (the “Private Placement”) of up to
$600,000 through the issuance of up to 17,142,857 flow-through units (the “FT Units”) at a price of $0.035
per FT Unit.
Each FT Unit will consist of one flow-through common share of the Company (the “FT Shares”) and one
transferable common share purchase warrant (a “ Warrant”) exercisable at $0. 07 per common share (a
“Share”) for a period of two (2) years from the closing date of the Private Placement.
The FT Shares will qualify as flow -through shares for purposes of the Income Tax Act (Canada) . The
proceeds raised from the sa le of the Private Placement will be used by the Company to fund exploration
programs that qualify as “Canadian Exploration Expenses” and “flow -through mining expenditures”, as
those terms are defined in the Income Tax Act (Canada) , and, in particular, Xand er’s Timmins Nickel
Project. The Company will renounce said expenditures to the investors for the taxation year ending
December 31, 2022.
Finder’s fees may be payable on closing of the Private Placement to qualified parties in accordance with
the policies of the Exchange.
The Company also announces that, further to its news release of October 21, 2022, it has received approval
from the Exchange for the acquisition (the “Acquisition”) of 100% interest in certain mineral claims located
in Timmins, Ontario, and is proceeding with the issuance of 9,000,000 Shares to the vendors.
All securities issued in the Private Placement and Acquisition are subject to the Exchange hold period, plus
a hold period of four months and one day following the closing date of the Private Placement and the
Acquisition.
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisition and explo ration company based in Vancouver,
BC, Canada focused on developing accretive gold and battery metal properties within Canada. The
company currently has a focus on projects located within the Provinces of Ontario and Quebec.
Xander is exploring for commerc ially exploitable mineral deposits and is currently focused on deposits
located in Val-d’Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. km and
is contiguous in the south to Probe Metals’ new discovery, and contiguous in the north to Monarch Mining,
in close proximity to Eldorado Gold’s (formerly QMX Gold) projects, and east of the North American
Lithium Deposit, Great Thunder Gold’s Chubb Lithium property and East of the Sayona Quebec's Authier
Lithium Deposit, all in the Val -d’Or Mining Camp, plus its newly acquired nickel -sulphide project in
Timmins, Ontario near Canada Nickel’s MacDiarmid and Crawford Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please email [email protected], or visit www.xanderresources.ca.
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 res ults 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, t he 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 suc h
statements.
The securities referred to in this news release 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 applicable securities laws of
any state of the United S tates, and may not be offered or sold 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 U.S. Securities Act)
or persons in the United States unless registered under the U.S. Se curities Act and any other applicable
securities laws of the United States or an exemption from such registration requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these
securities within any jurisdiction, including the United States. Any public offering of securities in the
United States must be made by means of a prospectus containing detailed information about the company
and management, as well as financial statements.