(TheNewswire)
Vancouver, British Columbia – TheNewswire - February 9, 2022 – Xander Resources Inc.(“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce that, subject to theapproval of the TSX Venture Exchange (the “ Exchange ”), it haslaunched a non-brokered private placement (the “ Private Placement ”)of up to $2,000,000 with the assistance of IBK Capital Corp. from thesale of the following:
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up to 14,285,714 units (the Units ”) at $0.07 per Unit for gross proceeds of up to$1,000,000; and
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up to 10,526,315 charitable and national flow-throughunits (collectively, the Flow-Through Units ”) at a price of $0.095per Flow-Through Unit for gross proceeds of up to $1,000,000.
Each Unit will consist of one common share of theCompany (a “ Share ”) and one transferable common sharepurchase warrant (a “ Warrant ”) exercisable at $0.10 per Share fora period of three (3) years from the date of closing (the“ Expiry Date ”).
Each Flow-Through Unit will consist of one flow-throughcommon share of the Company and one Warrant exercisable at a price of$0.10 per Share until the Expiry Date.
The net proceeds from the Private Placement will beused for exploration at Xander’s Timmins Nickel Project (the“ Property ”) and general working capital.
The final closing of the Private Placement is expectedto occur on or before Monday, February 28, 2022. Completion of thePrivate Placement is subject to certain conditions, and receipt of allnecessary regulatory approvals.
All securities issued in the Private Placement aresubject to the Exchange hold period, plus a hold period of four monthsand one day following the closing date of the Private Placement. Finder’s fees may be payable in accordancewith the policies of the Exchange.
Deepak Varshney, Xander CEO, said,“We are pleased to announce this Private Placement, which will beused to expand our exploration program at our Timmins Nickel Project.The financing illustrates the significant investor interest andsupport for Xander in our exploration efforts and we are thrilled tohave IBK Capital as a partner moving forward as we advance the TimminsNickel Project.”
Timmins Nickel Project
Exploration at the Timmins Nickel Project in 2022 willinclude:
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Completing geophysical surveys and 3D inversionmodelling to refine existing targets identified by historic work.
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Completing a 10-hole, 2,500-metre core drilling programat its North Claim block.
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Completing a 3-hole, 1,200-metre core drilling programat its South Claim block.
The Property consists of two (2) separate mineral claimblocks and is located within the Timmins mining camp in Ontario,Canada, a highly prolific mining complex with over 100 hundred yearsof history and well supported by major infrastructure includinghighways, rail, and relatively inexpensive hydroelectric power.
The “North Block” consists of 236 claims locatedapproximately 21 kilometres west of Canada Nickel Company’s(CNC’s) Crawford Project (as shown in Figure 1 below) where CNC hascompleted a preliminary economic assessment only 20 months after thecommencement of exploration drilling that indicates 25-year mine withan after-tax NPV 8% of $1.2billion i . It is alsosituated southwest of Kingsmill, Mahaffy-Aubin,and Nesbitt North, properties acquired from Noble Mineral Explorationby Canada Nickel through option agreements earlier in 2021 ii .
Figure 1 - Location of the “NorthClaim Block”
The “South Block” consists of 50 claims contiguousto Canada Nickel’s MacDiarmid Project (as shown in Figure 2 below)where in May 2021, Canada Nickel announced a secondary discoverythrough the identification of significant intersections of mineralizeddunite similar to the average mineralization initially discovered atCrawford. 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 .
Figure 2 - Location of the “SouthClaim Block”
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 .
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 includes"forward-looking information" under applicable Canadiansecurities legislation including, but not limited to, the anticipatedclosing of the Transaction and private placement. Such forward-lookinginformation reflects management's current beliefs and are based on anumber of estimates and assumptions made by and information currentlyavailable to the Company that, while considered reasonable, aresubject to known and unknown risks, uncertainties, and other factorswhich may cause the actual results and future events to differmaterially from those expressed or implied by such forward-lookinginformation. Readers are cautioned that such forward-lookinginformation are neither promises nor guarantees, and are subject toknown and unknown risks and uncertainties including, but not limitedto, general business, economic, competitive, political and socialuncertainties, uncertain and volatile equity and capital markets, lackof available capital, actual results of exploration activities,environmental risks, future prices of base and other metals, operatingrisks, accidents, labour issues, delays in obtaining governmentalapprovals and permits, and other risks in the mining industry. Thereare no assurances that the Company will successfully complete theTransaction and the private placement on the terms contemplated or atall. All forward-looking information contained in this news release isqualified by these cautionary statements and those in our continuousdisclosure filings available on SEDAR at www.sedar.com. Accordingly,readers should not place undue reliance on forward-lookinginformation. The Company disclaims any intention or obligation toupdate or revise any forward-looking information, whether as a resultof new information, future events or otherwise, except as required bylaw.
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.
The securities referred to in thisnews release have not been, and will not be, registered under theUnited States Securities Act of 1933, as amended (the “U.S.Securities Act”), or any applicable securities laws of any state ofthe United States, and may not be offered or sold within the UnitedStates or to, or for the account or benefit of, U.S. persons (as suchterm is defined in Regulation S under the U.S. Securities Act) orpersons in the United States unless registered under the U.S.Securities Act and any other applicable securities laws of the UnitedStates or an exemption from such registration requirements isavailable.
This press release does notconstitute an offer to sell or a solicitation of an offer to buy anyof these securities within any jurisdiction, including the UnitedStates. Any public offering of securities in the United States mustbe made by means of a prospectus containing detailed information aboutthe company and management, as well as financial 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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