XND:CC - Xander Resources Completes Second Phase of Drilling Program for Timmins Nickel Project

(TheNewswire)

Vancouver, British Columbia – TheNewswire - March 20, 2023 – Xander Resources Inc.(“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announcethat it has completed the second phase of its fully financed drillprogram at its Timmins Nickel Project (the “ Property ”) locatedin Timmins, Ontario.

The drill program comprised 1,559 metres across six (6)drill holes and continued Xander’s strategy of targeting geophysicalanomalies on its claims that are on trend and/or adjacent toproperties where Canada Nickel Company (CNC) has identifiedsignificant nickel mineralization.

• Three (3) holes, NKV23-1, NKV23-2, and NKV23-3,targeted the northern part of the Company’s “North Block” onclaims along trend with CNC’s Mahaffy and Nesbitt properties. Bothproperties have been drilled by CNC, with the first two drill holes atNesbitt returning significant intersections of mineralization withintervals of visible disseminated sulphides consistent with the HigherGrade Zone at CNC’s Crawford Project where a preliminary economicassessment indicates a 25-year mine with an after-tax NPV (net presentvalue) with 8-per-cent discount rate of $1.2-billion ( http://bit.ly/3YMsYFi , http://bit.ly/3E3b3CB ).

• Three (3) holes, NKV23-4, NKV23-5, and NKV23-6, weredrilled in the Company’s “South Block” of claims that areadjacent to CNC’s MacDiarmid Project where CNC announced its secondmajor discovery in the Timmins Camp with a target that isapproximately 15% larger than Canada Nickel’s original Crawford’sMain Zone discovery ( https://bit.ly/3RVjMfI ).

• Ultramafics comprising komatiitic flows, gabbro and/orperidotite were intersected in five (5) of the six (6) drill holes.Notable intercepts include:

The assay results from the second phase drill programwill be released following their receipt, compilation andinterpretation.

Click Image To View Full Size

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

The Timmins Nickel Project

The Timmins Nickel Project consists of two (2) separatemineral claim blocks (as shown in Figure 2 below) and is locatedwithin the Timmins mining camp in Ontario, Canada, a highly prolificmining complex with over 100 hundred years of history and wellsupported by major infrastructure including highways, rail, andrelatively inexpensive hydroelectric power.

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 i . It isalso situated southwest of Kingsmill, Mahaffy-Aubin, and NesbittNorth, properties acquired from Noble Mineral Exploration by CanadaNickel through option agreements earlier in 2021 ii 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 meters in width – 15% larger thanCanada Nickel’s original Crawford’s Main Zonediscovery iii .

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Figure 2 - Location of Xander's Claimsin the Timmins Camp

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

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

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

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