XND:CC - Xander Resources Announces Discovery at its Timmins Nickel Project

(TheNewswire)

Drilling identifies a potentialmineralized 161 metre zone with nickel values up to 0.19 % Ni in DrillHole NKV23-05 within 202 metres of ultramafic located within theCompany’s claim block adjacent to Canada Nickel Company’sMacdiarmid Discovery

Highlights:

• Maiden eleven-hole drill program has beencompleted.

• Eight drill holes, NKV22-01 to 06 and NKV23?01 to 03,were advanced within the “North Block” of claims, located adjacentto Canada Nickel Company’s (CNC) Reid Discovery and to the west ontrend with CNC’s Crawford Discovery. NKV22-03, located to the westof CNC’s Reid Discovery, returned 11.5 metres of 0.15% Ni from adepth of 244 to 255.5 metres.

• Three, drill holes NKV23-04 to 06, were advanced withinthe “South Block” of claims, located adjacent to CNC’sMacdiarmid Discovery. NKV23-04 and NKV23-05 returned significantintersections that are comparable to those of Canada NickelCompany’s (CNC) adjacent Macdiarmid Discovery within footprints ofconductors that are comparable in size. NKV23-04 and NKV23-05 arelocated 750 metres apart.

  • A potential 43.5-metre mineralized zone was identifiedin NKV23-04 through sporadic sampling from 187.5 to 231 metres.Intervals of 0.14% over 3 metres, 0.21% over 2.7 metres, and 0.19%over 4.5 metres were identified within at least 77 metres ofultramafic (gabbro/peridotite) beginning at 178 metres. Infillsampling is required to determine the exact grade of this interval butvisually the mineralization appears consistent with grades rangingfrom 0.14% - 0.22% in the 7 samples taken. The interval identified isopen at depth, as this hole terminated in an ultramafic unit, andappears to extend on to CNC’s recently purchased claims to the southbased on the proximity of the drill hole to the claim boundary.

  • A potential 161-metre mineralized zone was identifiedin NKV23-05 through sporadic sampling from 67 to 229 metres. Multipleintervals of 0.18% over 3 metres and an interval of 0.14% over 30metres were identified within at least 202 metres of ultramafic(gabbro/peridotite) beginning at 50.4 metres. Infill sampling isrequired to determine the exact grade of this interval but visuallythe mineralization appears consistent with grades ranging from 0.09% -0.19% in the 48 samples taken. The interval identified is open atdepth, as this hole terminated in ultramafic.

Vancouver, British Columbia – TheNewswire - April 18, 2023 – Xander Resources Inc.(“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce thedrill results from its maiden drill program at its Timmins NickelProject (the “ Property ”) located in Timmins,Ontario.

The drill results are headlined by a potential161-metre mineralized zone with 30 metres grading 0.14% Ni andmultiple intervals of 0.18% over 3 metres in drill hole NKV23-05 from177 to 204 metres within a 202-metre ultramafic unit beginning at 50.4metres, and a potential 43.5 metre mineralized zone with intervals of0.14% over 3 metres, 0.21% over 2.7 metres, and 0.19% over 4.5 metresin NKV23-04 within an at least 77-metre ultramafic (gabbro/peridotite)beginning at 178 metres. Mineralization in both holes appears toextend over the entire interval and is open at depth. Further samplingwill be completed confirm the mineralized length within each drillhole.

Both drill holes were located within drill targets atthe Company’s “South Block” of claims that are located adjacentto Canada Nickel Company’s (CNC) Macdiarmid Discovery (as shown inFigure 1 below) where in May 2021, Canada Nickel announced a secondarydiscovery in a geophysical target approximately1.8 kilometres long indicating a structural footprint averaging 400metres in width – 15% larger than Canada Nickel’s originalCrawford’s Main Zone discovery i . The footprint of the conductor testedby NKV23-05 is approximately 400 metres by 300 metres, makingXander’s discovery comparable both in grade and size.

Deepak Varshney, CEO of Xander said, "We are very pleased to have made adiscovery as part of our maiden drill program, with two of our firstthree drill holes at the South Block having returned significantintersections that are comparable to those of CNC’s adjacentMacdiarmid Discovery. Given our prime location and CNC’s aggressivepursuit in acquiring land within this district, particularly adjacentto its existing discoveries including Macdiarmid where their claimsnow surround ours, expanding upon these results will be a primaryfocus for the Company moving forward as we develop our Timmins nickelportfolio.

Mr. Varshney continued: “ We are also very pleased with theinformation learned from the drilling conducted in our North Block aspart of this first-pass program. The geological data has provided theCompany with a better understanding of the geology across ourextensive land package as many of our targets remain undrilled. Withthe invaluable information obtained from this program, our follow-updrill program will be comprehensive with a focus on expanding ourdiscovery in the South Block and in targeting untested targets in theNorth. Completing this program was an important milestone for ourcompany as we endeavour to take part in the journey to secure adomestic supply of North American nickel. The Timmins camp is gainingmomentum with various other promising assets and companies in thisregion, and we look forward to continuing our journey and being a partof this story."

Click Image To View Full Size

Figure 1 - Location of Xander's Claims in the TimminsCamp.

Drilling Summary

In total, 3,730 metres were drilled across the twophases of the maiden drill program. The program was designed to testtargets with potential for significant nickel mineralizationcomparable to Canada Nickel Company’s Crawford, MacDiarmid, and ReidDiscoveries, located in Timmins, Ontario. Eight drill holes, NKV22-01to 06 and NKV23?01 to 03, were advanced within the “North Block”of claims, located adjacent to CNC’s Reid Discovery and to the weston trend with CNC’s Crawford Discovery. Three, drill holes NKV23-04to 06, were advanced within the “South Block” of claims, locatedadjacent to CNC’s Macdiarmid Discovery. Figure 2 outlines thelocations of the drill holes.

• NKV22-05, located to the west of CNC’s ReidDiscovery, returned 11.5 metres of 0.15% Ni from a depth of 244 to255.5 metres.

• NKV23-04, located to the east of CNC’s MacdiarmidDiscovery, returned intervals of 0.14% over 3 metres, 0.21% over 2.7metres, and 0.19% over 4.5 metres within at least 77 metres ofultramafic (gabbro/peridotite) beginning at 178 metres. Infillsampling is required to determine the exactgrade, but visually the mineralization appears consistent with gradesranging from 0.14% - 0.22% in the 7 samples taken suggesting that apotential 43.5-metre mineralized zone is present.

• NKV23-05, located to the east of CNC’s MacdiarmidDiscovery, returned multiple intervals of 0.18% over 3 metres and aninterval of 0.14% over 30 metres within at least 202 metres ofultramafic (gabbro/peridotite) beginning at 50.4 metres. Infillsampling is required to determine the exact grade of this interval,but visually the mineralization appears consistent with grades rangingfrom 0.09% - 0.19% in the 48 samples taken suggesting that a potential161-metre mineralized zone is present.

• NKV22-01 to 04 and 06 and NKV23-06 did not returnnotable intercepts; these targets were identified based onelectromagnetic and magnetic anomalies that largely occurred due tothe presence of graphite.

Both NKV23-04 and NKV23-05 terminated in ultramaficsindicating they are open at depth. Based on the drilling observed, theCompany believes that the ultramafic unit present in NKV23-04 extendson to CNC’s recently purchased claims to the south based on theproximity of the drill hole to the claim boundary.

Based on the findings of its maiden program, theCompany intends on completing a follow-up program that builds on itssuccess at NKV23-04 and NKV23-05 while utilizing the informationobtained from the other drill holes to also explore the numerousuntested targets present across its approximately 72 km 2 of claims,particularly those on its most recent acquisition, the “WestClaim” block, where it has already outlined 6 targets immediatelyready for drill-testing.

Composite weighted assays are included in the tablebelow.

*Note 1 – The intervals presented were the onlysamples/assays taken between 187.5 – 252 metres, additional assaysare required to determine the width and grade of the entiremineralized zone.

** Note 2 – The intervals presented were the onlysamples/assays taken in the entire hole, additional assays arerequired to determine the width and grade of the entire mineralizedzone.

The field program was run by Andrew Tims, and the drillcore from was split with half sent to AGAT in Timmins, Ontario for thedrill holes completed in 2022.  The 2023 drill core samples weredelivered to Activation Labs in Timmins, Ontario.  Samples wereanalyzed via sodium peroxide fusion with ICP OES + ICP MS finishesplus fire assay with an ICP MS finish for precious metals. Duplicates,standards and blanks were inserted into the sample stream.

Drill Hole Coordinates:

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Figure 1 - Location of drill holescomprising Xander’s maiden drill program.

The Timmins Nickel Project

The Timmins Nickel Project consists of two (2) separatemineral claim blocks and is located within the Timmins mining camp inOntario, Canada, a highly prolific mining complex with over 100hundred years of history and well supported by major infrastructureincluding highways, rail, and relatively inexpensive hydroelectricpower.

The “North Block” consists of 336 claims locatedapproximately 21 kilometres west of Canada Nickel Company’s(CNC’s) Crawford Project where CNC has completed a preliminaryeconomic assessment only 20 months after the commencement ofexploration drilling that indicates 25-year mine with an after-taxNPV 8% of $1.2billion ii . Itis also situated southwest of Kingsmill, Mahaffy-Aubin, and NesbittNorth, properties acquired from Noble Mineral Exploration by CanadaNickel through option agreements earlier in 2021 iii and adjacent toCNC’s recently identified Reid Discovery which has already throughearly exploration delineated a mineralized footprint 90% as large asCrawford.

The “South Block” consists of 50 claims contiguousto Canada Nickel’s MacDiarmid Project where in May 2021, CanadaNickel announced a secondary discovery through the identification ofsignificant intersections of mineralized dunite similar to the averagemineralization initially discovered at Crawford. Geophysical surveys reveal that theMacDiarmid target to be approximately 1.8 kilometres long indicating astructural footprint averaging 400 metres in width – 15% larger thanCanada Nickel’s original Crawford’s Main Zonediscovery iv .Xander’s maiden drill program has identified its own discovery withgrades and mineralization comparable to those identified by CNC atMacdiarmid.

Qualified Person

The technical content of this news release has beenreviewed and approved by Mr. Andrew Tims, P.Geo., a qualified personas defined by National Instrument 43-101 Standards of Disclosure for MineralProjects (“ NI 43-101 ”).

About Xander Resources Inc.

Xander Resources Inc. is a Canadian mineral acquisitionand exploration company based in Vancouver, BC, Canada focused ondeveloping accretive gold and battery metal properties within Canada.The company currently has a focus on projects located within theProvinces of Ontario and Quebec.

Xander is exploring for commercially exploitablemineral deposits and is currently focused on deposits located inVal-d’Or, Quebec, including the Senneville Claim Group whichcomprises over 100 sq. km and is contiguous in the south to ProbeMetals’ new discovery, and contiguous in the north to MonarchMining, in close proximity to Eldorado Gold’s (formerly QMX Gold)projects, and east of the North American Lithium Deposit, GreatThunder Gold‘s Chubb Lithium property and East of the SayonaQuebec's Authier Lithium Deposit, all in the Val-d’Or Mining Camp,plus its newly acquired nickel-sulphide project in Timmins, Ontarionear Canada Nickel’s MacDiarmid and Crawford Projects.

We seek Safe Harbor

ON BEHALF OF THE BOARD OFDIRECTORS

Deepak Varshney, P.Geo., Presidentand CEO

For more information, please email ir@xanderresources.ca , or visit www.xanderresources.ca .

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.

Forward-looking statements:

This news release may include"forward-looking information" under applicable Canadiansecurities legislation. Such forward-looking information reflectsmanagement's current beliefs and are based on a number of estimatesand/or assumptions made by and information currently available to theCompany that, while considered reasonable, are subject to known andunknown risks, uncertainties, and other factors that may cause theactual results and future events to differ materially from thoseexpressed or implied by such forward-looking information. Readers arecautioned that such forward-looking information are neither promisesnor guarantees and are subject to known and unknown risks anduncertainties including, but not limited to, general business,economic, competitive, political and social uncertainties, uncertainand volatile equity and capital markets, lack of available capital,actual results of exploration activities, environmental risks, futureprices of base and other metals, operating risks, accidents, labourissues, delays in obtaining governmental approvals and permits, andother risks in the mining industry.

The Company is presently anexploration stage company. Exploration is highly speculative innature, involves many risks, requires substantial expenditures, andmay not result in the discovery of mineral deposits that can be minedprofitably. Furthermore, the Company currently has no reserves on anyof its properties. As a result, there can be no assurance that suchforward-looking statements will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such statements.

i https://canadanickel.com/wp-content/uploads/2021/10/2021-10-26-East-Zone-High-Grade-vFinal2.pdf

ii Preliminary Economic Assessment, titled "CrawfordNickel-Sulphide Project National Instrument 43-101 Technical Reportand Preliminary Economic Assessment", Effective Date of May 21,2021

iii https://canadanickel.com/wp-content/uploads/2021/04/20210422-Canada-Nickel-Acquires-Option-Properties-final.pdf

iv https://canadanickel.com/wp-content/uploads/2021/10/2021-10-26-East-Zone-High-Grade-vFinal2.pdf

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