M&A / Property
Xander signs option to acquire Timmins East claims
XND · Price
Executive Summary
- Xander Resources Inc. has executed an option to acquire a 100 % interest in the Timmins East portfolio (332 mineral claims, ~6,904 ha) adjacent to its existing Timmins project.
- Completion of the acquisition will be effected by issuing 1.7 million common shares to the vendors and granting them a 2 % NSR royalty.
- The newly optioned claims are situated near several high‑grade nickel deposits (Canada Nickel Company’s Reid, Crawford, and Mann), offering significant exploration upside for Xander.
Key Details
- Option Agreement: Right to purchase undivided 100 % interest in Timmins East portfolio; subject to TSX Venture Exchange approval.
- Land Package: 332 mineral claims covering ~6,904 ha, divided into three blocks:
- Block 1 & 2 – 154 claims (~3,104 ha) adjacent to existing Xander Timmins claims.
- Block 3 (Mann block) – 179 claims (~3,799 ha) near CNC’s Mann nickel deposit.
- Consideration: Issuance of 1.7 million Xander common shares to the vendors; a 2 % net smelter return royalty granted to the vendor.
- Geological Context: Claims lie within proximity to known nickel deposits (Reid, Crawford, Mann) and exhibit magnetic anomalies, high‑conductivity zones, and elevated nickel assays, suggesting potential for similar mineralization.
- Planned Activities: Over the coming months – geophysical mapping, sampling, and other exploration techniques; aim to launch a comprehensive drill program at the Timmins project and newly acquired claims.
- Regulatory Conditions: Transaction pending final exchange approval; shares subject to hold periods per Canadian securities laws and exchange policies.
- Qualified Person Review: Technical content reviewed and approved by Babak Vakili Azar, P.Geo., independent contractor (NI 43‑101).
Notable Quotes
“We are excited to announce the option of the Timmins East portfolio, which builds on our existing land package in a very prospective part of Ontario… With strong geological potential, significant magnetic anomalies, high‑conductivity zones and elevated nickel levels, these new claims have the potential to unlock value through greenfield exploration.” – Deepak Varshney, CEO, Xander Resources Inc.