Xtra-Gold Reports Q1 Record Earnings
Xtra-Gold Reports Q1 Record Earnings
Toronto, Ontario--(Newsfile Corp. - May 6, 2021) -
Xtra-Gold Resources Corp.
(TSX: XTG) (OTCQB:
XTGRF)
("Xtra-Gold" or the "Company")
is pleased to provide the following summary of Q1 2021
Financials:
Total Assets increased from US$9,340,942 (Dec. 31, 2020) to
US$11,866,211
(March 31, 2021),
comprised mainly of cash, liquid securities, and gold inventory ("cash");
Zero Debt; and
Net Income of US$1,920,672 for the quarter.
The full details of the Q1 Financials with MD&A can be viewed on the Company's web-site at
www.xtragold.com
.
James Longshore, Founder and CEO states: "The Company continues to demonstrate its ability to self-
finance our drilling/work programs through the Community Mining Project.
With this quarter net income of
approximately $2 million, we have enough cash to internally finance our 2021 and 2022 work programs.
We are aggressively expanding our resource, with the goal of getting the Kibi Gold Project recognized
as a significant gold discovery."
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
with over 150 million oz's of gold discovered), 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.
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.: 416-628-2881
E-mail:
Website:
www.xtragold.com
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/83156