"Corporation") regrettably announces the untimely passing of its Chief Financial Officer , Enrico Visentini. Mr. Visentini played an in strumental role in guiding the Corporation through its initial public offering and listing on the TSX Venture Exchange. Mr. Visentini was an experienced, effective

XAU RESOURCES INC.

FOR IMMEDIATE RELEASE

TORONTO, ONTARIO – January 16 , 2020 – XAU RESOURCES INC . (TSXV:GIG.P) (the

"Corporation") regrettably announces the untimely passing of its Chief Financial Officer , Enrico

Visentini.

Mr. Visentini played an in strumental role in guiding the Corporation through its initial public

offering and listing on the TSX Venture Exchange. Mr. Visentini was an experienced, effective and

kind corporate finance professional, and he will be missed.

Mr. Gary Bay, the Chief Exe cutive Officer of the Corporation, will serve as interim Chief Financial

Officer until such time as a permanent Chief Financial Officer is found.

The Board of Directors of XAU Resources expresses its sincere condolences to Mr. Visentini’s

family and friends.

For further information please contact:

Gary Bay

Chief Executive Officer

Tel: 647-339-4301

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 this release.