CCMC.V · 2020-10-21 12:00:00

Xander Resources Announces Closing of Non-Brokered Private Placement with Palisades Goldcorp

Financings

XANDER RESOURCES INC.

Vancouver, British Columbia / October 21, 2020 - Xander Resources Inc. (TSXV: XND) (FSE: 1XI)

(OTCQB:XNDRF) (the “Company”) is pleased to announce that, further to its news release of October

1, 2020 and subject to the final approval of the TSX Venture Exchange (the “Exchange”), it has closed its

non-brokered private placement (the “ Private Placement ”) issuing a total of 2,000,000 units (the

“Units”) at $0 .20 per Unit for total gross proceeds of $ 400,000. The sole investor in the Private

Placement was Palisades Goldcorp Ltd.

Each Unit consist s of one common share (a “ Share”) and one non-transferable common share purchase

warrant (a “Warrant”) with each War rant exercisable for three (3) years from the date of closing at an

exercise price of $0.30 per Warrant.

All securities issued in connection with the Private Placement will be subject to a 4-month hold period in

Canada. The Company will use the gross proceeds of the Private Placement for exploration of mineral

properties and for general working capita l. No finder’s fees were paid in connection with the Private

Placement.

Jim Hirst, CEO stated, “I want to thank the management of Palisades Goldcorp for recognizing and

supporting Xander’s exploration of its Fenelon and Senneville properties on the Val d’Or Gold Trend.

The recent results from Wallbridge Mining confirm our decision to acquire and explore these historical

discoveries.”

About Palisades Goldcorp.

Palisades Goldcorp is Canada’s resource focused merchant bank. Palisades’ management team has

demonstrated track record of making money and is backed by many of the industry’s most notable

financiers. With junior resource equities valued at generational lows, management believes the sector is

on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in

undervalued companies and assets with the goal of generating superior returns.

About Xander Resources:

Xander Res ources is a junior exploration firm focused on developing accretive gold 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

James H. Hirst, CEO

Tel: 778.709.3398

Website: www.xanderresources.ca

For Xander French Inquiries:

Rémy Scalabrini, Maricom Inc.

Tél: (888) 585-6274

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.