Rouyn-Noranda, Québec, January 22, 2020–X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce that it has increased the overall size of the ongoing drill program over its high priority targets on the Northwest and Grog properties located in Restigouche county, New Brunswick. The drilling was kicked off over the Northwest vein system at the Trench 26 target situated in an orogenic quartz vein mineralized environment (see press releasesdated January 7, 2020and January 13, 2020for details). At theTrench 26 target location, significant networks of quartz veins can be observed over pluri-metricintervals hosted in a carbonate-chlorite alteration zone.
Based on the success and observations in the field, X-TerraResourceshas decided to add additional holes to certain targets in order to gain a better understanding of the underlying geological system andmineralized corridors. The drill team has just completed drilling the Dyke swarm target where the omnipresent sulphides, brecciation and alterations observed downhole highlights the epithermal characteristics X-Terra Resources washoping for. Oneof the targeted alteration zonesencounteredinhole number 4 extends from 22 metresdown to 38 metres. The upper part of the alteration zone was lostas part of the casing. Additional holes should help to establish geometrical parameters such as orientation and thickness.
Michael Ferreira, President and Chief ExecutiveOfficer of X-Terra Resources states, “We are very happyto see early success in thisdrillprogram. Our main focus will be to continue drilling the high priority targets while ultimately trying to connect Grog to Bellevue South/North which currently has a mineralized footprint of 1.4 kilometres”.
Jeannot Théberge, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X-Terra Resources, a qualified personunder National Instrument 43‑101 Standards of Disclosure for Mineral Projects (“NI43-101”)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 Resources is a resource company focused on acquiring and exploring precious metals and energy 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 suchas “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 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, manyof 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’ AnnualReport for the fiscal year ended December 31, 2018, 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
139 Québec Avenue, Suite202
Rouyn-Noranda, Québec, J9X6M8
Telephone: 819-762-4101 | Fax: 819-762-0097