Xau Resources Announces New Cf O and Proposed Private Placement

XAU RESOURCES INC.

XAU RESOURCES ANNOUNCES NEW CF O AND PROPOSED PRIVATE

PLACEMENT

FOR IMMEDIATE RELEASE

TORONTO, ONTARIO – April 7, 2020 – XAU RESOURCES INC. (TSXV:GIG.P) (the

"Corporation") is pleased to announce that Andrey Maruta has been appointed as its Chief Financial

Officer and Corporate Secretary.

Mr. Maruta has over 16 years of experience in the mining and metals industry, including his current

position as Group Chief Financial Officer for Kore Potash plc, a company listed on the AIM, JSE and

ASX exchanges, and past experience as Chief Financial Officer of Petropavlovsk plc, an LSE listed

company. To comply with TSX Venture Exchange rules mandating that CPC management team

members own shares of the CPC, Mr. Maruta intends to subscribe for 200,000 common shares of the

Corporation at a price of $0.05 per share, raising gross proceeds of $10,000. The subscribed for

shares will be subject to escrow in accordance with the TSX Venture Exchange’s CPC escrow

policy.

Mr. Maruta’s appointment as an officer of the Corporation and his proposed subscription for

common shares of the Corporation are subject to TSX Venture Exchange approval.

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.