Xtra-Gold Reports Q1 2024 Financials and CEO Update
Xtra-Gold Reports Q1 2024 Financials and
CEO Update
Toronto, Ontario--(Newsfile Corp. - May 8, 2024) -
Xtra-Gold Resources Corp. (TSX: XTG) (OTCQB:
XTGRF) ("Xtra-Gold" or the "Company")
is pleased to provide the following summary of the
unaudited Financials ending March 31, 2024:
Total Assets
US$12,700,871
, comprised mainly of cash, liquid securities, and gold inventory
("liquid assets");
Zero Debt
;
Total Income for the quarter of
US$1,234,557
; and
Net Income (after tax) of
US$510,987
.
The full details of the Quarterly Financials with MD&A can be viewed on the Company's website at
www.xtragold.com
.
James Longshore, CEO/Co-Founder states: "Our Company had another very successful quarter,
covering all our exploration drilling and operating costs ("Operating Costs"). We have financed all our
Operating Costs over the last 14 years, with our shareholders suffering no dilution to their share
ownership. We continue aggressively drilling at our Kibi Gold Project, with our three diamond drill rigs
operating. To date, we have completed 584 holes totaling over 106,000 meters, steadfastly expanding
the gold mineralization "footprint".
We believe our Kibi Gold Project will prove to be a multi-million ounce
("oz") gold resource, with our shareholders having significant "up-side leverage" to the gold price as it
appreciates in value."
About Xtra-Gold Resources Corp.
Xtra-Gold is a gold exploration company with a substantial land position in the Kibi Gold Belt.
The Kibi
Gold Belt, which exhibits many similar geological features to Ghana's main gold belt, the Ashanti Belt,
has been the subject of very limited modern exploration activity targeting lode gold deposits as virtually
all past gold mining activity and exploration efforts focused on the extensive alluvial gold occurrences in
many river valleys throughout the Kibi area.
Xtra-Gold holds 5 Mining Leases totaling approximately 226 sq km (22,600 ha) at the northern extremity
of the Kibi Gold Belt.
The Company's exploration efforts to date have focused on the Kibi Gold Project
located on the Apapam Concession (33.65 sq km).
Forward-Looking Statements
The TSX does not accept responsibility for the adequacy or accuracy of this release. No stock
exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein. This news release includes certain "forward-looking statements". These
statements are based on information currently available to the Company and the Company provides no
assurance that actual results will meet
management's expectations.
Forward- looking statements include
estimates and statements that describe the Company's future plans, objectives or goals, including words
to the effect that the Company or management expects a stated condition or result to occur.
Forward-
looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions
and address future events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things, results of exploration, project development,
reclamation and
capital
costs
of
the
Company's mineral
properties, and
the Company's
financial
condition
and
prospects,
could
differ
materially
from
those
currently anticipated
in
such
statements
for
many
reasons
such
as:
changes
in
general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation,
legislative,
environmental
and
other
judicial,
regulatory,
political
and
competitive developments; technological and operational
difficulties
encountered
in
connection
with
the activities
of
the Company; and other matters discussed in this news
release.
This list is not exhaustive of the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully, and readers should not place undue
reliance on the Company's forward-looking statements. The Company does not undertake to update any
forward-looking statement that may be made from time to time by the Company or on its behalf, except
in accordance with applicable securities laws.
Contact Information
For further information please contact:
James Longshore
Chief Executive Officer
Tel.: 242-363-3864
E-mail:
Website:
www.xtragold.com
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/208371