(TheNewswire)
January 11, 2021 – TheNewswire - Xander Resources Inc. (TSXV:XND) (FSE:1XI) (OTC:XNDRF) ("Xander" or the"Company") is pleased to announcethat p ursuant to an OptionAgreement dated January 8, 2021 the Company has agreed to acquire a100% interest in the 35 mineral claims locatedin Waswanipi, Quebec known as the Bachelor North Property , from an arm’s length vendor.
The Company has an option to acquire the Bachelor North Property in exchange for $2,318.75 cash payableon or before Closing (as defined below); 100,000 common shares on orbefore Closing; 467,000 common shares on or before three months afterClosing; 467,000 common shares on or before sixmonths after Closing; 467,000 common shares on or before twelve monthsafter Closing; and a 2% net smelter returnroyalty. Closing will occur on or before theseventh day following acceptance by the TSX Venture Exchange of noticeof the transactions described herein and no later than January 30,2021.
James Hirst, CEO of the Company, comments, “Togetherwith our Fenelon and Senneville properties this option positionsXander in its third discovery area in the Abitibi Greenstone Belt. The Bachelor NorthProperty is contiguous to and north of MidlandExploration ’s Lewis property, and to thesouthwest are Soquem , Goldex and Bonterra . Theproperty is located a little east of the Lamarck-Wedding deformationcorridor where several mining sites such as the Shortt Lake mine (2.7Mt at 4.6 g/t Au), the Bachelor mine (869,432 tonnes at 4.7 g/t Au),the Coniagas mine (718,465 tonnes at 10.77% Zinc) and the Langloismine (65 Kt Zinc concentrate, 2,1 Kt copper concentrate, 553 troyounces Silver concentrate and 1,9 K troy ounces Gold concentrate) havebeen exploited. The corridor includes rhyolites said to be fertilewith respect to VMS mineralization and a panoply of intrusions rangingfrom synvolcanic tonalites to late alkaline intrusions (syenites,carbonatites, kimberlites). The rocks covering the property are offelsic to mafic compositions favourable to orogenic gold with graniticmasses around the claims. A silver showing of 8.6 g/t Ag wasdiscovered in 1980 by drilling (80-LRC-1) in an H.E.M. conductoridentified by geophysics.”
About Xander Resources:
Xander Resources is a junior exploration companyfocused on developing accretive Gold properties within Canada. TheCompany currently has a focus on projects located within the Provinceof Quebec.
On behalf of the Board of Directors,
James Hirst, Chief Executive Officer
Tel: (778)998-9257
Email: jimh@xanderresources.ca
Website: https://xanderresources.ca/
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