Xali Gold Announces Stock Options Grant and Annual General Meeting Voting results
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Xali Gold Announces Stock Options Grant and
Annual General Meeting Voting results
Vancouver, British Columbia – December 19th, 2024 - Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or the
”Company”) reports that, pursuant to the terms and conditions of its Omnibus Equity Incentive Plan,
an aggregate of 4,100,000 stock options to purchase common shares of the Company have been
granted to certain directors, officers and consultants of the Company. The options are exercisable
for a period of five years at a price of $0.05 per share.
Xali Gold is pleased to announce the results of the Company’s Annual General Meeting of
Shareholders (the “Meeting”) held on December 19th, 2024. A total of 14,006,597 common shares of
the Company were voted at the meeting, representing 9.83% of the total number of issued and
outstanding shares of the Company. At the Meeting, all five director nominees listed in the
Company’s information circular dated November 8 th, 2024, were elected as directors of the
Company. In addition, shareholders voted to appoint Saturna Group, Chartered Professional
Accountants LLP, as auditors for the Company and re -approved the Company’s Omnibus Equity
Incentive Plan.
About Xali Gold
Xali Gold has gold and silver projects in Peru and Mexico. The Company’s flagship project, El Oro,
is a district scale historic producer of gold and silver. While the Company’s main goal at El Oro is to
make a new discovery, similar to the multi-million ounce (“oz”) gold and silver ore bodies mined
historically, the Company has entered into two agreements to bring in cash flow. Two third parties
now have signed agreements with Xali Gold Corp. for the rights to produce gold and silver from the
El Oro Project. Kappes, Cassiday & Associates ( “KCA”), in partnership with Starcore International
Mines Ltd., has the right to reprocess tailings which contain 1.27 million tonnes at a grade of 2.94 gpt
gold and 75.12 gpt silver (3.85 gpt gold equivalent) containing 119,900 oz of gold and 3,061,200 oz of
silver*. Remedioambiente S.A. de C.V. (“RM”) has the right to recover gold and silver from
mineralized veins and backfill left behind in the historic mine workings. The agreements provide for
Xali Gold to receive funds from net smelter return s (“NSRs“) of up to 3% from each of these two
agreements. In addition, the underground work by RM is expected to give the Company underground
access for drilling the high-grade targets identified by previous drilling below the historic workings
at El Oro and also assist in paying mineral rights fees.
Future exploration in Mexico will be focused on the El Oro property which covers 20 veins with past
production and more than 57 veins in total, from which approximately 6.4M ozs of gold and 74M ozs
of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological
Service Bulletin Nr. 37, Mining of the El Oro and Tlalpujahua Districts, by T. Flores in 1920). Modern
understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold
excellent discovery potential, particularly below and adjacent to the historic workings of the San
Rafael Vein, which was mined to an average depth of only 200m.
NEWS RELEASE
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With renewed interest in gold and silver exploration in South America, Xali Gold has recently been
reviewing high sulphidation gold targets with features similar to Yanacocha and Pierina, within
proven high sulphidation epithermal belt s in Peru . The Company also still maintains other
properties in Peru.
Xali Gold is dedicated to being a responsible community partner.
Joanne C. Freeze, P.Geo., President and CEO is the Qualified Person as defined by National
Instrument 43-101 for the projects discussed above. Ms. Freeze ha s reviewed and approved the
contents of this release. Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Xali Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director
For further information please contact:
Joanne Freeze, President & CEO
Tel: + 1 604-512-3359
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities
laws) including but not limited to historical production records and resource estimates. While such forward -
looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis,
they may address future events and conditions and are therefore subject to inherent risks and uncertainties
including those set out in Xali Gold’s MD&A. Factors that cause the actual results to differ materially from those
in forward-looking information include, without limitation, gold prices, results of explo ration and development
activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government
approvals, potential environmental issues, availability of capital and financing and general economic, market
or busi ness conditions. Xali Gold expressly disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise, except in
accordance with applicable securities laws.