Xau Resources Announces Resignation of Director

XAU RESOURCES INC.

XAU RESOURCES ANNOUNCES RESIGNATION OF DIRECTOR

FOR IMMEDIATE RELEASE

TORONTO, ONTARIO – February 16, 2021 – XAU RESOURCES INC. (TSXV:GIG.P) (the

"Corporation") announces that a member of its board of di rectors, Dr. Pavel Maslovskiy, was

unexpectedly arrested in Moscow, Russia and detained in connect ion with a commercial matter

unrelated to the Corporation. Dr . Maslovskiy rejects the charg es of the Russian authorities,

which he contends are false and without merit, and intends to m ount a vigorous defence.

Nevertheless, Dr. Maslovskiy has resigned from the Corporation’s board of directors pending the

resolution of these legal matters.

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.