X-Terra Resources receives preliminary geophysical results on the eastern extension of the Veronneau property
X-Terra Resources receives preliminary geophysical results on the eastern
extension of the Veronneau property
ROUYN-NORANDA, QC, Jan. 10, 2018 /CNW Telbec/ - X-T erra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) is pleased to announce it has rece ived some preliminary results and preliminary
interpretation of its airborne geophysical survey from Marc Boivin at MB Geosolutions.
The survey conducted by Geotech, has exceeded X-Ter ra Resources' expectations and even though they
are only preliminary results, it has identified multiple apparent new precious and base metal targets.
Although it is preliminary, the most important result is certainly the presence of two electromagnetic
conductor axis located at approximately one kilometre WSW of the LEJ showing (see X-Terra Resources'
press release dated December 5, 2017, for more info rmation). According to preliminary numerical
modeling, these electromagnetic anomalies represent two conductive bodies (125 metres apart),
approximately 200 metres in length and each at a de pth of 60 to 70 metres from surface. "We strongly
believe that these electromagnetic anomalies are not formational conductors, thus highlighting their
importance" stated Michel Chapdelaine Vice-Presiden t of Exploration and Development of X-Terra
Resources.
Michael Ferreira, President and Chief Executive Off icer of X-Terra Resources, states: "We are excited by
the presence of these anomalies and their close proximity to the LEJ showing. We believed that these
anomalies could be the potential source of LEJ and we are excited to test them imminently".
X-Terra Resources intends to complete a non-brokere d private placement to raise up to $1,000,000
through the issuance of up to 5,000,000 units at a price of $0.20 per unit. Each unit will be comprise d of
one common share in the capital of the X-Terra Resources and one-half of a common share purchase
warrant. Each full warrant will entitle the holder thereof to purchase one additional common share of X-
Terra Resources at a price of $0.30 per share for a period of 24 months from the closing date. The
proceeds from the proposed private placement will be used to further explore X-Terra Resources' mineral
properties and for working capital purposes.
Qualified Person
Mr. Jeannot Théberge, PGeo, a consultant to X-Terra Resources, is the qualified person for the
Veronneau property under National Instrument 43-101 Standards of Disclosure for Mineral Projects
responsible for the technical contents of this news release, and has approved the disclosure of the
technical information contained herein.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and
energy properties in Canada. X-Terra Resources curr ently has 25,648,389 common shares issued and
outstanding.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the
meaning of applicable Canadian securities legislati on. Forward-looking information may include, among
others, statements regarding the future plans, costs, objectives or performance of X-Terra Resources, or
the assumptions underlying any of the foregoing. In this news release, words such as "may", "would",
"could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking statements. Forward-looking statements
should not be read as guarantees of future performance or results, and will not necessarily be accurate
indications of whether, or the times at or by which, such future performance will be achieved. No
assurance can be given that any events anticipated by the forward-looking information will transpire or
occur, including the development of the Veronneau Property or completion of the proposed private
placement, or if any of them do so, what benefits X-Terra Resources will derive. Forward-looking
information is based on information available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks, uncertainties, assumptions and oth er
unpredictable factors, many of which are beyond X-Terra Resources' control. These risks, uncertainties
and assumptions include, but are not limited to, those described under "Financial Instruments" and "Ri sk
and Uncertainties in X-Terra Resources' Annual Report for the fiscal year ended December 31, 2016, a
copy of which is available on SEDAR at www.sedar.com , and could cause actual events or results to
differ materially from those projected in any forward-looking statements. X-Terra Resources does not
intend, nor does X-Terra Resources undertake any ob ligation, to update or revise any forward-looking
information contained in this news release to reflect subsequent information, events or circumstances or
otherwise, except if required by applicable laws.
Neither the 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 the release.
SOURCE x-terra resources inc.
View original content: http://www.newswire.ca/en/releases/archive/January2018/10/c4045.html
%SEDAR: 00035962E
For further information: X-Terra Resources Inc., Michael Ferreira, President and Chief Executive
Officer, 139 Québec Avenue, Suite 202, Rouyn-Norand a, Québec, J9X 6M8, Telephone: 819-762-
4101, Fax: 819-762-0097, E-mail: [email protected], Website: www.xterraresources.com
CO: x-terra resources inc.
CNW 08:00e 10-JAN-18