Xau Resources Announces Closing of Private Placement

XAU RESOURCES INC.

XAU RESOURCES ANNOUNCES CLOSING OF PRIVATE PLACEMENT

FOR IMMEDIATE RELEASE

TORONTO, ONTARIO – April 24,2020 –XAU RESOURCES INC. (TSXV:GIG.P) (the

"Corporation") is pleased to announce, further to its press release dated April 7, 2020, it has closed

the private placement of 200,000 common shares of the Corporation at a price of $0.05 per share,

raising gross proceeds of $10,000. The shares issued are currently held to escrow in accordance with

the TSX Venture Exchange’s CPC escrow policy.

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.