(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 1, 2021 – Xander Resources Inc.(“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce the appointment of Adrian Smith as a director ofthe Company, effective immediately.
Mr. Smith is currently the CEO of ArcPacific ResourcesCorp. and President, director of M3 Metals Corp., director of GoMetals Corp. and a director of Usha Resources Ltd. Mr. Smith is aprofessional geologist with over a decade of experience in the capitalmarkets and mineral exploration and development sector. He hassuccessfully executed multiple exploration programs and corporatestrategies, including the acquisition, development and optioning ofthe Mohave Gold project in Arizona, USA during his time as CEO of M3Metals Corp.
The Company also announces the resignation of MarshaPanar as a director of the Company. The Company wishes to thank Ms.Panar for her contributions to the Company and wishes her the best inher future endeavors.
Deepak Varshney, P.Geo., President and CEO of theCompany, commented, “We are thrilled to welcome Adrian to our boardas an independent director. He brings a wealth of knowledge withextensive mining industry and capital markets experience. We believehis skill set complements those of our existing board members and thathe will be a tremendous resource for Xander as we continue to executeon our strategy, drive growth and build long-term shareholder valuefor the Company.”
Property Transaction
The Company also announces that, further to its newsrelease of August 20, 2021, it has entered into a mineral propertypurchase and sale agreement (the “ Agreement ”) with QLMinerals Inc., of Toronto, Ontario (the “ Purchaser ”) wherebythe Company has agreed to sell to Purchaser 100%of its rights title and interest of 39 claims located in the townshipof Senneville, Quebec, Canada (the “ Property ”).
The Purchaser plans on listing its common shares fortrading on a Canadian stock exchange in the coming months and, to thiseffect, following execution of the Agreement, has signed a separateagreement with PetroCorp Group Inc. as part of its go-publictransaction.
As consideration for the purchase of the Property, thePurchaser has agreed to issue the Company 400,000 common shares in thecapital of the Purchaser (the “ Consideration Shares ”) at a deemed price of$0.25 per Consideration Share for aggregate consideration of$100,000.
Deepak Varshney, P.Geo., President and CEO of theCompany, commented : “Xander is looking forwardto working with the team at QL Minerals, which we expect will have avery exciting value proposition for investors. Xander's share positionin QL Minerals gives our shareholders the opportunity to benefitsubstantially from the expected growth and success of this new batterymetals company. Following completion of this sale, we still own 171claims as part of our Senneville Project where we will be movingforward with a gold-focused exploration program, particularly in theeast adjacent to Monarch Mining’s claims and the McKenzie Breakdeposit.”
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.
ON BEHALF OF THE BOARD OFDIRECTORS
Deepak Varshney, P.Geo., Presidentand CEO
For more information, please phone Dan Samartino,Investor Relations, at 778-962-0234, 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.
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