Rouyn-Noranda, Québec, May 28, 2021 – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (“X-Terra”) further to its news release dated May 18, 2021, X-Terra has officially started drilling at the Troilus East property located in the James Bay region in the province of Québec.
The drill program consisting of 12 holes and will commence over the high priority anomaly where eight (8) drill holes will be completed, followed by two (2) holes at the north-east grid and two (2) holes at the south east grid, both of which will be testing geochemical anomalies recently identified (see X-Terra press release dated December 30, 2020). This drill program is anticipated to take approximately three (3) weeks to complete.
Michael Ferreira, President and Chief Executive Officer of X-Terra states: “We have worked very diligently to prepare this important drill program at Troilus East. Following the most recent news from Kenorland and their fantastic drill results (see Kenorland Minerals Ltd. (TSXV: KLD, FSE: 3WQ0)press release dated May 26, 2021), we are excited to be drilling in such an active and prolific greenstone belt, let alone the fact X-Terra is one of the few remaining companies actively exploring this area in close proximity to Troilus Gold (TSX: TLG, OTCQB: CHXMF) and Kenorland”.
The illustration below highlights the location of the drill targets inside a favourable corridor located approximately two (2) to three (3) kilometres from Troilus Gold’s project and running parallel to its deposit.
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 (“NI 43-101”), has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
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 or occur, including the exploration programs and development (including any drilling programs) of the Troilus East property, or if it does so, what benefits X-Terra will derive from the Troilus East property. 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 are beyond 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, 2020, 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 revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
About X-Terra Resources Inc.
X-Terra is a resource company focused on acquiring and exploring precious metals properties in Canada.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
For further information:
X-Terra Resources Inc.
Michael Ferreira, President and Chief Executive Officer
147 Québec Avenue
Rouyn-Noranda, Québec, J9X 6M8
Telephone: 819-762-4101 | Fax: 819-762-0097