2021-11-10

X-TERRA RESOURCES COMPLETES TRENCHING PROGRAM AT GROG AND NORTHWEST

Rouyn-Noranda, Québec, November 10, 2021 – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (“X-Terra”) is pleased to announcethat it has completed its trenching program at the Grog and Northwest properties located in Restigouche County, New Brunswick.

A total of 46 trenches were completed, totalling 1.65 kilometres and over 420 rock samples were collected. The sampling covered seven unique targets that were selected based on the historical 2018 and 2019 till sampling program, which were split into two groups, 20 kilometres apart. In both cases, the technical teams highlighted that new quartz and quartz-carbonate vein networks were identified in 22 of the 46 trenches and were associated with strong deformation features such as shear zones and faults located close to fold hinges. Individual veins within the networks ranged from 10 to 40 centimetres and evolved locally in tectonic breccia over widths reaching locally 10 to 20 metres.

In parallel, a soil survey (B horizon) has just been completed and served to cover additional important targets on the property, including the Grog epithermal system with the objective to support the ongoing structural study. The area is generally devoid of outcrops making it necessary to employ a combination of geochemistry and trenching to identify additional gold potential. The geochemical technical teams from Terrane Geoscience collected 977 samples, plus 53 blanks and 53 duplicates for a total of 1082, all of which have now been delivered to the lab for assay.

NorthwestSystem

The Northwest property is known to host isolated high grade gold bearing quartz veins previously identified and sampled. Veins are developed in sediments of the White Brook Formation and are composed of alternating sequence of sandstone and siliceous mudstone. The area was covered by regional till survey which identified kilometric gold grain clusters.

  • Approximately one kilometre of trenching spread out over 25unique trenches was completed to cover four targets distributed inside a 20 square kilometre area.
  • Quartz and quartz-carbonate veins networks were identified in 11 of the 25 trenches with apparent widthsranging from less than 1 metre all the way up to 10 metres. The veins identified are developed in coarse clastic sediments close to siltstone contacts.

McKenzie Gulch Fault area

Geochemistry of heavy minerals concentrates obtained from 2019 regional till survey revealed arsenic-antimony anomalies with local gold enrichment correlated with known interpreted north-south regional faults related to the McKenzie Gulch Fault system.

  1. 650 metres of trenching spread out over 21 unique trenches were completed to coverthree targets, approximately 2.8 kilometres apart. A fourth target was prospected and sampled at surface.
  2. Quartz veining systems were identified in 12 of the 21 trenches, which includes two major veins system cut over lengths of 20 and 30 metres. Veins are commonly brecciated and included in faulty material.
  3. Associated sulfides were observed at two locations: chalcopyrite and sphalerite clots in quartz veins of trench TR-21-41A and finely disseminated pyrite identified in trenches TR-21-29 and TR-21-30 over 5 and 7 metres respectively. This sulfidation is associated with carbonatization in a fault zone.

Michael Ferreira, President and Chief Executive Officer of X-Terra, states: “It was a very positive trenching campaign that yielded many new exciting quartz veins systems. The sulphides identified and associated with the crack and fill texture of the quartz and quartz-carbonate veins is reminiscent of the Rim high grade vein. In addition, the additional geochemical sampling which is still ongoing will continue to deliver even more exciting targets that will warrant further exploration in the future.”

All samples have been delivered to Actlabs in Sainte-Germaine-Boulé and the results are expected to take approximately four to six weeks to receive.

Qualified Person

Jeannot Théberge, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X-Terra, a qualified person under National Instrument 43101 Standards of Disclosure for Mineral Projects (NI 43-101”) has reviewed the technical contents of this news releaseand 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 metalsproperties in Canada.

Forward-Looking Statements

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 lab results from the trenching program, exploration programs and development (including any drilling programs) of the Grog and Northwest Properties, or if it does so, what benefits X-Terra Resources will derive from the 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 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, 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 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

Rouyn-Noranda, Québec, J9X 6M8

E-mail: info@xterraresources.com      Website: www.xterraresources.com