Rouyn-Noranda, Québec, November 22, 2022 – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (“X-Terra”) is pleased to report is has completed its reconnaissance program over its 100% owned recently acquired Galli and Liberty Lithium projects in James Bay, Québec.
The short program served to identify and highlight the environment of the properties. The team completed some reconnaissance via helicopter at low altitude following a predetermined flight plan to systematically cover both the Galli and Liberty properties. In addition, where conditions allowed, some
geological features were observed.
The teams focused primarily on the Liberty property given its on-strike and proximity to the Winsome Resources Adina project, which is currently undergoing a diamond drill program. Sporadic field verifications were completed that followed the continuity of the Adina structural corridor which extends onto the Liberty property. Importantly, one outcrop observed hosted local granite bearing pegmatite with a biotite and muscovite assemblage.
X-Terra will be immediately moving forward with a follow up program comprising of helicopter-borne magnetic survey in addition to a lidar survey. This next step will serve to define the limits of the favorable granitic and pegmatite corridor.
Michael Ferreira, President and Chief Executive Officer of X-Terra commented: “The program provided useful and positive information at such an early stage despite the adverse weather conditions. Furthermore, it will be essential in guiding us through the next phases of exploration for the Liberty property”.
Martin Demers, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X- Terra Resources, a qualified person under National Instrument 43‑101 – Standards of Disclosure for Mineral Projects 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 Resources is a resource company focused on acquiring and exploring lithium and 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 Resources, 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 results from the helicopter-assisted reconnaissance prospecting program over the Galli and Liberty lithium projects, the expected exploration programs in the spring of 2023, and the timing thereof, and development (including any drilling programs) of the Galli and Liberty lithium projects, or if it does so, what benefits X-Terra Resources will derive from
these lithium projects. 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 Resources’ control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Financial Instruments” and “Risk and Uncertainties in X-Terra Resources’ Annual Report for the fiscal year ended December 31, 2021, 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 Resources does not intend, nor does X-Terra Resources 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. 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 (back door)
Rouyn-Noranda, Québec, J9X 6M8