Xander Resources Announces Accelerated Buyout of Senneville Properties
Xander Resources Announces Accelerated Buyout of Senneville Properties
Vancouver, British Columbia October 27, 2021 - Xander Resources Inc. (TSXV: XND) (FSE: 1XI) (OTCQB:
XNDRF) (the “Company”) announces that it has completed the accelerated buyout of the t hree options comprising
the Senneville Claim Group:
The Company’s Senneville Claim Group that covers over 100 sq km and is contiguous in the South to Probe Metals’
new discovery, and contiguous in the north to Monarch Mining an d in close proximity to Eldorado Gold’s (formerly
QMX Gold) projects in the Val-d’Or Gold Camp. The Senneville Cl aim Group is located in the eastern part of the
Abitibi Greenstone Belt, about 25 km northeast of the gold mini ng center of Val-d’Or, Quebec. The claims extend
from the Lacorne Batholith in the west to the contact area of t he Pascalis Batholith in the east. The Senneville West
Property geology is east of the North American Lithium Deposit with proven and probable reserves of 17.06 Mt
grading 0.94% Li2O, and measured and indicated resources of 33.24 Mt grading 1.19% Li2O; Great Thunder Gold‘s
Chubb Lithium property and East of the Sayona Mining Authier Lithium Deposit.
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Val-d’Or Senneville South Property
Further to the news release dated September 11, 2020, announcin g the property option agreement dated May 27,
2020 with Optionor1, the Company has completed the accelerated buyout of the exclusive option to purchase a
100% interest in and to the Co mpany’s Senneville South Property is comprised of three complete cells, five partial
cells and one old-style lot, totalling an area of 370 hectares. The Company paid the cash balance of $35,000 and
issued 140,000 common shares (the “ Shares”) of the Company to Optionor1 at a deemed price of $0.16 per S hare.
The Shares are subject to the applicable hold periods in accordance with securities laws in Canada and the Exchange
policies.
The Company fulfilled the option exploration requirements with a preliminary three-hole drill program, including an
intersection 18.15 gpt Au over 0.85 meters, as reported in the Company’s news release dated July 14, 2021, and with
the accelerated payment of cash and Shares has now met all the option requirements on the claims, which remain
subject to a 2% net smelter return royalty (“NSR”).
Val-d’Or Senneville West Property
Further to the news release dated June 2, 2020 announcing the e xpansion of the Company’s Val-d’Or Gold Camp
properties and the property option agreement dated May 18, 2020 with Optionor2, the Company has entered into an
amendment agreement with Optionor2 whereby the Company may exer cise the option to a date before 2½ years of
the closing of the agreement by satisfying the share issuances and cash payments thereunder. The Company has
now completed the accelerated bu yout of the exclusive option to purchase a 100% interest in 80 mineral claims in
the Company’s Senneville West Property and extends from the eas tern arbitrary boundary of Hwy 397, to the
northwest for 10 km. The Company paid the cash balance of $72, 000 and will issue 1,000,000 Shares of the
Company at a deemed price of $0.155 per Share to Optionor2. Th e Shares will be subject to the applicable hold
periods in accordance with securities laws in Canada and the Exchange policies.
Optionor2 has agreed to relieve the Company of the obligation t o spend $625,000 in exploration in exchange for the
above cash and shares. The Company has further agreed that in t he event of abandonment of any of the claims, the
Company will provide Optionor2 six months notice of the intende d abandonment, and in the event of a third party
sale of the claims that Optio nor2 will be entitled to receive 2 0% of the sale proceeds, su ch percentage reducing to
15% if the Company spends $250,000 in qualified exploration exp enditures on the property, and to 10% by the
Company spending $500,000 in qualified exploration expenditures on the property. The claims remain subject to a
2% NSR.
Val-d’Or Senneville East Property
Further to the news release dated June 12, 2020 announcing the expansion of the Company’s Val-d’Or properties
and the property option agreement dated May 18, 2020 with Optio nor3, the Company has entered into an
amendment agreement with Optionor3 whereby the Company may exer cise the option to a date before 2½ years of
the closing of the agreement by satisfying the share issuances and cash payments thereunder. The Company has
now completed the accelerated bu yout of the exclusive option to purchase a 100% interest in 62 mineral claims in
the Company’s Senneville East Property. The Senneville East Pro perty is located in the eastern part of the Abitibi
Greenstone Belt, about 30 km north of Val-d’Or and is comprised of 62 claims which extend from just east of
Highway 397, where it adjoins the Senneville West and South Gro up properties, to the contact area of the Pascalis
Batholith. The Company paid the cash balance of $36,000 and wil l issue the 640,000 Shares of the Company at a
deemed price of $0.155 per Share to Optionor3. The Shares are subject to the applicable hold periods in accordance
with securities laws in Canada and the Exchange policies.
Optionor3 has agreed to relieve the Company of the obligation t o spend $625,000 in exploration in exchange for the
above cash and shares. The Company has further agreed that in t he event of abandonment of any of the claims, the
Company will provide Optionor2 six months notice of the intende d abandonment, and in the event of a third party
sale of the claims that Optio nor2 will be entitled to receive 2 0% of the sale proceeds, su ch percentage reducing to
15% if the Company spends $250,000 in qualified exploration exp enditures on the property, and to 10% by the
Company spending $500,000 in qualified exploration expenditures on the property. The claims remain subject to a
2% NSR.
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Deepak Varshney, PGeo, CEO of the Company states “The aggregation of all the Senneville Claim Group
through the buyout of the options will enable the Company to better allocate it’s exploration expenditures and ensure
a more efficient utilization of financial and other resources t o thoroughly and systematically explore for gold and
lithium on our extremely well positioned properties in the historic Val-d’Or Mining Camp.”
About Xander Resources:
Xander Resources is a junior exploration firm focused on develo ping accretive gold and lithium properties within
Canada. The company currently has a focus on projects located within the Provinces of Ontario and Quebec.
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information please visit our website: www.xanderresources.ca
Email: Investor Relations: [email protected] Dan Samartino or [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement: Investors are cautioned that the above informat ion and the information
on the adjacent properties is take n from the publicly available sources. The Company has not
been able to independently verify the information contained. The information is not necessarily
indicative of the mineralization on the Property, which is the subject of this news release. The
Company will need to conduct explo ration to confirm historical mineralization reported on the
property and there is no guarantee that signific ant discovery will be made as a result of its
exploration efforts. The Company is in the pro cess of compiling exploration and geological data
available on the property and surrounding area to develop an exploration work plan.