Rouyn-Noranda, Québec, June12, 2020–X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR)(“X-Terra”) is pleased to announce the commencement of its 2020 exploration programon its wholly-owned Troilus East property on the underexplored Frotet-Evans greenstone belt in northern Québec.
X-Terra’s Troilus East property is located adjacent to Troilus Gold’s (TSX.V:TLG) Troilus Gold-Copper project, on which 6.4 million oz AuEq measured and indicated mineral resources were reported (source: NI 43-101 technical report entitled “Technical Report on the Troilus Gold-Copper Project Mineral Resource Estimate, Quebec, Canada” dated December20, 2019, prepared for Troilus Gold Corp. by Roscoe Postle Associates Inc., available on Troilus Gold Corp’s profile on SEDAR at www.sedar.com).
With the recent increase in activity along the Frotet-Evans greenstone belt coupled with all the success of Troilus Gold’s work and recently announced $22 million bought deal financing (See Troilus Gold press release dated June 2, 2020) there is no better time for X-Terra to start its exploration program.
Michael Ferreira, President and Chief Executive Officer of X-Terra states “with Troilus’ numerous surface discoveries including the high grade sample of 110 g/t Au, approximately onekilometre from the J4 open pit (see Troilus Gold press release dated December4, 2018), confirms the presence of high grade gold in the area. The potential to identify new near-surface gold occurrences over X-Terra’s Troilus East property remains high”.
The Troilus East property consists of 182 mining claims (93 km2) and covers, a distance of more than 22 kilometres along the Frotet-Evans belt. It is also the most proximalland position to Troilus Gold’s Gold-Copper project at less than 2.5 kilometres. See map below: (See PDF)
The Troilus East property straddles a structural zone parallel to the Troilus Deposit. For a strike length of about 20 kilometres, highlighted mostly by a mafic volcanic sequence which is interlayered to elongated mafic to ultramafic intrusions. Historical governmental mapping programs have already highlighted a prominent potassic alteration taking the form of biotite. In addition, more than 23 sulfides occurrences were documented during these mapping program which were completed by the provincial government (Sigeom, Énergie et Ressources Naturelles Québec).
X-Terra’s recent work on the Troilus East property includes a detailed magnetic survey flown at 75metres spacing, 3D inversion VOXI modeling for magnetic intrusions, an electromagnetic survey and a property wide till survey, where 72 of 78 samples have tested positive for gold grains, using both visual evaluation and the ARTGold recovery technology by IOS Geoservices. Of the 283 gold grains, a total of 71 have been classified as pristine, meaning that the location of the till samples in which such gold grains have been recuperated is most likely located less than 500 metres from the source of the gold sample.
Additional analysis was carried out over the samples that highlighted scattered platinum group metals grains in the mineral concentrate of the tills, suggesting a possible link with mafic to ultramafic intrusions common in the Troilus East structural corridor.
X-Terra has mandated Technominex of Rouyn-Noranda to assist its team in undertaking the first phase of work, which will focus on systematic prospecting and sampling of predetermined targets. The exploration team will fly over the territoryusing a helicopter to maximize the program efficiency. Manual outcrop stripping and channelling could also be completed depending on the presence of mineralization. Depending on the results received, additional works such as an Induced Polarization surveycould benecessary before undertaking additional exploration work, including a first ever diamond drill program
In other news, X-Terra hasput atemporary hold its work programs in New Brunswick due to provincial governmentresponse to the recent increase in Covid-19 cases in the Campbellton region zone 5, where the Grog and Northwest projects are located, which has led to significant restrictions on non-essential travel in New Brunswick,. X-Terra will be closely monitoring the provincial governmentefforts in re-opening its inter-provincial borders.
Jeannot Théberge, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X-Terra, a qualified person under National Instrument 43‑101 Standards of Disclosure for Mineral Projects (“NI43-101”)has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein
About X-Terra Resources Inc.
X-Terra is a resource company focused on acquiring and exploring precious metals properties in Canada
This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of X-Terra, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire oroccur, including the exploration programs and development (including any drilling programs) of the Troilus East, Grog and Northwest Properties, or if it does so, what benefits X-Terra will derive from the Troilus East, Grog and Northwest Properties. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which arebeyond X-Terra’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Financial Instruments” and “Risk and Uncertainties in X-Terra’s Annual Report for the fiscal year ended December 31, 2019, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. X-Terra does not intend, nor does X-Terra undertake any obligation, to update or reviseany forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
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For further information:
X-Terra Resources Inc.Michael Ferreira, President and Chief Executive Officer
147 Québec AvenueRouyn-Noranda, Québec, J9X6M8
Telephone: 819-762-4101 | Fax: 819-762-0097