Xali Gold Corp. (TSXV:XGC) (“
Xali Gold” or “the
Company”) advises that the British Columbia
Securities Commission has notified the Company that it has issued a
cease trade order (“
FFCTO”) under Multilateral
Instrument 11-103 – Failure-to-File Cease Trade Orders in
Multiple Jurisdictions for the Company. The FFCTO was issued
as a result of the Company's delay in filing its audited annual
financial statements, accompanying management discussion and
analysis, and CEO and CFO certifications for the financial year
ended March 31, 2024 (the “
Annual Filings”)
in accordance with applicable Canadian securities laws.
The FFCTO prohibits any trading, whether direct
or indirect, in respect of each security of the Company in each
jurisdiction in Canada until such time as the Company is
able to complete the filing of the Annual Filings.
The Company expects to be able to file as
required and resume trading within the next 3 or 4 days.
About Xali Gold
Xali Gold has gold and silver projects in Peru
and Mexico. The Company’s flagship project El Oro is a district
scale gold project encompassing a well-known prolific high-grade
gold dominant gold-silver epithermal vein system in Mexico. The
project covers 20 veins with past production and more than 57 veins
in total, from which approximately 6.4M ozs of gold and 74M ozs of
silver were reported to have been produced from just two of these
veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of
the El Oro and Tlapujahua Districts. 1920, T. Flores).
Modern understanding of epithermal vein systems
indicates that several of the El Oro district’s veins hold
excellent discovery potential, particularly below and adjacent to
the historic workings of the San Rafael Vein, which was mined to an
average depth of only 200m.
Xali Gold is dedicated to being a responsible
Community partner.
Joanne C. Freeze, P.Geo., President and CEO is
the Qualified Person as defined by National Instrument 43-101 for
the projects discussed above. Ms. Freeze has reviewed and approved
the contents of this release. Neither the TSX Venture Exchange nor
its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Forward-looking InformationThis
news release may contain forward-looking information (as such term
is defined under Canadian securities laws) including but not
limited to historical production records. While such
forward-looking information is expressed by Xali Gold in good faith
and believed by Xali Gold to have a reasonable basis, they may
address future events and conditions and are therefore subject to
inherent risks and uncertainties including those set out in Xali
Gold’s MD&A. Factors that cause the actual results to differ
materially from those in forward-looking information include,
without limitation, gold prices, results of exploration and
development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, potential environmental issues, availability of capital
and financing and general economic, market or business conditions.
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 in accordance
with applicable securities laws.
On behalf of the Board of Xali Gold
Corp.
“Joanne Freeze” P.Geo.President, CEO and
Director
For further information please contact:Joanne
Freeze, President & CEOTel: + 1 (604)
689-1957info@xaligold.com
NR 135
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