VANCOUVER, British Columbia, Oct. 30, 2025 (GLOBE NEWSWIRE) — Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) announces that certain directors, officers, employees and consultants of the Company have been granted incentive options to purchase 2,200,000 shares of Xali Gold common stock at an exercise price of $0.05 per share. The options have a term of 5 years and expire on October 30, 2030.
Xali Gold also clarifies that the acquisition of the Pico Machay Gold Project (“Pico Machay” or the “Project”) in Peru, which the Company announced October 24th2025considered a fundamental acquisition for Xali Gold. Accordingly, in accordance with Policy 5.3, the Pico-Machai Transaction is pending receipt and review of acceptable documentation by the TSX Venture Exchange and is subject to its approval.
Pico Machay was discovered in 1997 and explored by several young companies, including Aquiline Resources Inc. (“Aquiline”), during 2009. Aquiline performed various engineering studies, including resource assessment and metallurgical testing. These studies were aimed at open heap leaching operations, which were expected to be inexpensive and have low stripping ratios. Given that Aquiline's engineering work prior to its acquisition by Pan American Silver was based on a long-term gold price of $700 per ounce, and several exploration targets remain untested, Xali Gold believes this deposit has excellent upside potential.
About Hali Gold
Xali Gold is a gold and silver exploration company focused on expanding opportunities in the Americas. The company recently announced the acquisition of Pico Machay, an advanced-stage gold project in Peru with a view to production in the near future.
Xali Gold retains exploration potential as well as two royalty agreements with third parties that have gold and silver mining rights to certain areas of the El Oro gold-silver project in Mexico, a historic district-scale system with a long history of significant gold and silver production.
Xali Gold is committed to being a responsible community partner.
Joan K. Freese, P.Geo. The President and CEO is a qualified individual as defined by National Instrument 43-101 for the projects discussed above. Ms. Freese has reviewed and approved the contents of this release. 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 this release.
On behalf of the Board of Directors of Xali Gold Corp.
“Joanna Freeze” P.Geo.
President, CEO and Director
For more information contact:
Joan Freese, President and CEO
Tel: + 1 604-512-3359
[email protected]
Forward-Looking Disclaimer
This press release contains forward-looking information within the meaning of Canadian securities legislation (“forward-looking statements”). Forward-looking statements are generally identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those that by their nature relate to future events. All statements that are not statements of historical fact are forward-looking statements.
Forward-looking statements in this press release include, but are not limited to: the timing of the closure of the SPA and compliance with closing conditions; production growth potential and viability of the Pico Machay project. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements contained in this press release are reasonable, it can give no assurance that the expectations and assumptions contained in such statements will prove to be correct. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future results or performance and are subject to risks, uncertainties, assumptions and other factors that may cause events or results to be materially different from those expressed or implied by such forward-looking statements.
Known risk factors and assumptions include risks associated with exploration and project development; access to further financing and related dilution: continuation of projected growth or full ability to implement its business strategies; calculation mineral resources and additional work required to convert historical resources to current ones mineral resources; ththe nature, quality and quantity of any mineral deposits that may be located in the project area; operational risks associated with mining and processing of minerals; metal price fluctuations and assumptions, including costs; the name matters; government regulation; obtaining and renewing necessary consents, authorizations, licenses and authorizations; environmental liability and insurance; reliance on key personnel; local community opposition; exchange rate fluctuations; labor disputes; competition; changes in market conditions and volatility in the price and volume of our common stock; future sales of shares by existing shareholders; and other risk factors described in MD&A Khali Golda and other documents filed with Canadian securities regulators, which are available at www.sedarplus.ca. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements; There may be other factors that cause actions, events or results not to be as expected, estimated or intended.
There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Xali Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
ALERT FOR US INVESTORS
We advise U.S. investors that this press release uses terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum's (CIM) 2014 publication, CIM Standards of Definition for Mineral Resources and Mineral Reserves, incorporated by reference in Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, for the reporting of mineral resource estimates. These Canadian standards, including NI 43-101, differ from the SEC requirements set forth in the mining disclosure rules under Regulation SK 1300. Regulation SK 1300 uses the same terminology for mineral resources, but the definitions are not identical to NI 43-101 and the CIM Definition Standards. Regulation SK 1300 uses the term “initial assessment” to assess the potential economics of a project based on mineral resources. This type of study has some similarities to a preliminary economic assessment, but the definition and content requirements for the initial assessment are not identical to the definition and content requirements for a PEA under NI 43-101.
