Xander Resources Completes Shares for Debt Transactions

Xander Resources Completes Shares for Debt Transactions

Vancouver, British Columbia / April 14, 2023 – Xander Resources Inc. (“Xander” or the “Company”)

(TSXV: XND) (OTCQB: XNDRF) (FSX: 1XI) , is pleased to announce that the Company has complet ed

two shares for debt settlements that were previousl y announced on March 16, 2023 (the “ Shares for

Debt Settlements ”), after being granted approval by the TSX Venture Exchange (“ TSXV ”). The

outstanding debt was owed to consultants of the Company as part of their severance packages.

Pursuant to the Shares for Debt Settlements, the Co mpany has issued a total of 2,210,198 of its common

shares (the “ Settlement Shares ”) at a deemed price of $0.035 per share for an agg regate amount of

$77,356.93. The Settlement Shares are subject to a four month and one day hold period expiring on August

14, 2023. The Shares for Debt Settlements are subject to final approval of the TSXV. The Settlement Shares

have not and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities

laws.

1,105,099 of the Settlement Shares were issued to Dwayne Yaretz, a current director of the Company (the

“ Insider Participation ”). The Insider Participation is considered to be a “related party transaction” as

defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special

Transactions (“ MI 61-101 ”). The Insider Participation is exempt from the fo rmal valuation and minority

shareholder approval requirements of MI 61-101. The Company did not file a material change report more

than 21 days before closing the Shares for Debt Set tlements as the details of the abovementioned Insid er

Participation were not settled until shortly prior to closing, and the Company wished to close the Shares for

Debt Settlements on an expedited basis.

About Xander Resources Inc.

Xander Resources Inc. 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.

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 Ser vices Provider (as that term is defined in

policies of the TSX Venture Exchange) accepts respo nsibility for the adequacy or accuracy of this

release.