Xander Resources Acquires 50 Claims Contiguous to Canada Nickel’s MacDiarmid Project & 236 Claims West of CNC’s Crawford Project
Xander Resources Acquires 50 Claims Contiguous to Canada Nickel’s
MacDiarmid Project & 236 Claims West of CNC’s Crawford Project
Vancouver, British Columbia / November 1, 2021 – Xa nder Resources Ltd. (“Xander” or the
“Company”) (TSXV: XND) (OTCQB: XNDRF) (FSX: 1XI) is pleased to announce that it has entered
into an option agreement (the “ Option ”) to acquire (the “ Acquisition ”) 100% interest in certain 286 mineral
claims (the “ Claims ” and the “ Property ”) located in Timmins, Ontario.
The Property
The Property consists of two (2) separate mineral c laim blocks and is located within the Timmins minin g
camp in Ontario, Canada, a highly prolific mining c omplex with over 100 hundred years of history well
supported by major infrastructure including highways, rail, and relatively inexpensive hydroelectric power.
The “North Block” consists of 236 claims located ap proximately 21 kilometres west of Canada Nickel
Company’s (CNC’s) Crawford Project (as shown in Fig ure 1 below) where CNC has completed a
preliminary economic assessment only 20 months afte r the commencement of exploration drilling that
indicates 25-year mine with an after-tax NPV 8% of 1.2 billion i. It is also situated southwest of Kingsmill,
Mahaffy-Aubin, and Nesbitt North, properties acquired from Noble Mineral Exploration by Canada Nickel
through option agreements earlier in 2021 ii .
Figure 1 - Location of the "North Block"
The “South Block” consists of 50 claims contiguous to Canada Nickel’s MacDiarmid Project (as shown in
Figure 2 below) where in May 2021, Canada Nickel an nounced a secondary discovery through the
identification of significant intersections of mineralized dunite similar to the average mineralization initially
discovered at Crawford. Geophysical surveys reveal that the MacDiarmid target to be approximately 1.8
kilometres long indicating a structural footprint a veraging 400 meters in width – 15% larger than Cana da
Nickel’s original Crawford’s Main Zone discovery iii .
Figure 2 - Location of the "South Block"
Historical work at the Property includes airborne geophysical survey work (Geotech’s Helicopter Borne
VTEM) which has delineated a series of high-priority electromagnetic anomalies within the Property
(often indicative of sulphide mineralization), and numerous major and minor structures, which require
follow-up exploration and possibly drilling as shown in Figure 3 below. The Company’s plan over the
coming months is to build on the geophysical work completed through further geophysical mapping and
interpretation, sampling, and other techniques in order to launch a comprehensive drill program with the
goal of completing a maiden resource at one or more areas.
The Transaction
Pursuant to the Agreement and in exchange for the option to purchase a 100% interest in the Property, the
Company will pay the following remuneration to the Vendors:
• 600,000 common shares (the “ Shares ”) of the Company at a deemed price to be determine d as of
the closing market price of the Company’s Shares on or before the closing date (the “ Closing
Date ”)
Figure 3 - VTEM Conductors Identified on the "North Block"
• $50,000 cash payable within 90 days of the Closing Date
• 1,000,000 Shares to be issued at a deemed price to be determined within 90 days of the Closing
Date
• $50,000 cash payable within one year of the Closing Date
• 1,000,000 Shares to be issued at a deemed price to be determined within one year of the Closing
Date
• 900,000 Shares to be issued at a deemed price to be determined within two years of the Closing
Date
• $50,000 cash payable within two years of the Closing Date
The Company has agreed to incur not less than $1,250,000 of qualified exploration expenditures, including
3,000 metres of diamond drilling on the Property wi thin two (2) years of the Closing Date, of which no t
less than $500,000 and 1,500 meters of diamond drilling will be incurred within one (1) year following the
Closing Date and of which not less than $120,000 ($95,000 North Block and $25,000 South Block) will be
incurred within six months from the Closing Date. The Company has also agreed to grant the Optionors a
3% net smelter returns royalty.
The Acquisition and transactions contemplated, including the issuance of the Shares, are subject to the final
approval of the Exchange. The Shares will be subjec t to the applicable hold periods in accordance with
securities laws in Canada and the Exchange policies.
“We are thrilled to have acquired such a significan t project at a time when the demand for nickel is
increasing so dramatically,” stated Deepak Varshney , CEO of the Company. “This project checks off all
the boxes – a mining-friendly jurisdiction, easy ye ar-round access, and a Property with great geophysi cal
targets at a stage of development where we can explore and unlock shareholder value”.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo.,
a qualified person as defined by National Instrumen t 43-101 Standards of Disclosure for Mineral
Projects (“ NI 43-101 ”).
About Xander Resources Inc.
Xander Resources Ltd. is a Canadian mineral acquisi tion and exploration 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 commercially exploitable mi neral 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, p lus its newly acquired nickel-sulphide project in
Timmins, Ontario near Canada Nickel’s MacDiarmid and Crawford Projects.
We seek Safe Harbor
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please phone Dan Samartino, I nvestor Relations, at 778-962-0234, 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 info rmation" under applicable Canadian securities
legislation. Such forward-looking information refle cts 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 availa ble capital, actual results of exploration activiti es,
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 compa ny. Exploration is highly speculative in nature,
involves many risks, requires substantial expenditu res, 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 it s
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 coul d differ materially from those anticipated in such
statements.
i Preliminary Economic Assessment, titled "Crawford Nickel-Sulphide Project National Instrument 43-101
Technical Report and Preliminary Economic Assessmen t", Effective Date of May 21, 2021
ii https://canadanickel.com/wp-content/uploads/2021/04 /20210422-Canada-Nickel-Acquires-Option-Properties-
final.pdf
iii https://canadanickel.com/wp-content/uploads/2021/10 /2021-10-26-East-Zone-High-Grade-vFinal2.pdf