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(TheNewswire)
Vancouver, British Columbia TheNewswire - December 1, 2021 Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce the appointment of Adrian Smith as a director of the Company, effective immediately.
Mr. Smith is currently the CEO of ArcPacific Resources Corp. and President, director of M3 Metals Corp., director of Go Metals Corp. and a director of Usha Resources Ltd. Mr. Smith is a professional geologist with over a decade of experience in the capital markets and mineral exploration and development sector. He has successfully executed multiple exploration programs and corporate strategies, including the acquisition, development and optioning of the Mohave Gold project in Arizona, USA during his time as CEO of M3 Metals Corp.
The Company also announces the resignation of Marsha Panar as a director of the Company. The Company wishes to thank Ms. Panar for her contributions to the Company and wishes her the best in her future endeavors.
Deepak Varshney, P.Geo., President and CEO of the Company, commented, "We are thrilled to welcome Adrian to our board as an independent director. He brings a wealth of knowledge with extensive mining industry and capital markets experience. We believe his skill set complements those of our existing board members and that he will be a tremendous resource for Xander as we continue to execute on our strategy, drive growth and build long-term shareholder value for the Company."
Property Transaction
The Company also announces that, further to its news release of August 20, 2021, it has entered into a mineral property purchase and sale agreement (the " Agreement ") with QL Minerals Inc., of Toronto, Ontario (the " Purchaser ") whereby the Company has agreed to sell to Purchaser 100% of its rights title and interest of 39 claims located in the township of Senneville, Quebec, Canada (the " Property ").
The Purchaser plans on listing its common shares for trading on a Canadian stock exchange in the coming months and, to this effect, following execution of the Agreement, has signed a separate agreement with PetroCorp Group Inc. as part of its go-public transaction.
As consideration for the purchase of the Property, the Purchaser has agreed to issue the Company 400,000 common shares in the capital of the Purchaser (the " Consideration Shares ") at a deemed price of $0.25 per Consideration Share for aggregate consideration of $100,000.
Deepak Varshney, P.Geo., President and CEO of the Company, commented : "Xander is looking forward to working with the team at QL Minerals, which we expect will have a very exciting value proposition for investors. Xander's share position in QL Minerals gives our shareholders the opportunity to benefit substantially from the expected growth and success of this new battery metals company. Following completion of this sale, we still own 171 claims as part of our Senneville Project where we will be moving forward with a gold-focused exploration program, particularly in the east adjacent to Monarch Mining's claims and the McKenzie Break deposit."
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada focused on developing accretive gold and battery metal properties within Canada. The company currently has a focus on projects located within the Provinces of Ontario and Quebec.
Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d'Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. km and is contiguous in the south to Probe Metals' new discovery, and contiguous in the north to Monarch Mining, in close proximity to Eldorado Gold's (formerly QMX Gold) projects, and east of the North American Lithium Deposit, Great Thunder Gold‘s Chubb Lithium property and East of the Sayona Quebec's Authier Lithium Deposit, all in the Val-d'Or Mining Camp, plus its newly acquired nickel-sulphide project in Timmins, Ontario near Canada Nickel's MacDiarmid and Crawford Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please phone Dan Samartino, Investor Relations, at 778-962-0234, email ir@xanderresources.ca , or visit www.xanderresources.ca .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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