Xali Gold Corp. (TSXV:XGC) has successfully finalized the buyback of a significant 1.5% Net Smelter Return (“NSR”) royalty on the Casua Property in southern Peru. This pivotal agreement, initially announced earlier, has been officially registered in Peru, marking a milestone for the company.

The Casua Property is now 100% owned by Xali Gold and boasts a rich history, with a silver-rich low sulfidation vein system. Within this treasure trove, three veins exhibit remarkable silver grades, complemented by lead and zinc mineralization. The region also shows promise in terms of anomalous gold levels, particularly in areas characterized by high sulfidation-style alteration near the veins. Historical mine workings and the remnants of an ancient smelting furnace add an exciting layer of historical significance, dating back to Spanish explorers in the late 1800s.

Sampling efforts have unveiled impressive grades, including 52.91 ounces per tonne of silver, 4.62% lead, and 0.12% zinc over 0.10 meters. The Property's potential shines with 9.98 ounces per tonne of silver, over 10% lead, and 1.59% zinc over 0.5 meters, as well as 13.13 ounces per tonne of silver, 2.05% lead, and 0.07% zinc over 1 meter. Additionally, selected samples from mine dumps contain up to 31.24 ounces per tonne of silver, 8.7-10% lead, 1.81% zinc, and 0.21% copper.

For specific details on the terms of this significant NSR buyback, interested parties can find comprehensive information in the Company's press release dated October 4, 2023.

While the Company values the El Oro Project, which boasts a past production of 8 million ounces gold equivalent, current exploration efforts are temporarily directed elsewhere, with an emphasis on building local partnerships to bolster the potential for near-term cash flow. Xali Gold remains committed to advancing its projects in Mexico, promising exciting developments in the future.

Xali Gold Corp, with its strategic portfolio of gold and silver projects in Peru and Mexico, continues to be at the forefront of the mining industry. Notably, El Oro is a remarkable district-scale gold project, known for its high-grade gold-silver epithermal vein system, where over 6.4 million ounces of gold and 74 million ounces of silver were extracted from just two veins. With its rich history and exciting prospects, Xali Gold is a prominent name in the world of mining.}

Read Release: https://xaligold.com/site/assets/files/6298/xgc_nr_124_peru_silex_complete_final.pdf