Xtra-Gold Announces Updated Mineral Resource Estimate for Its Kibi Gold Project in Ghana, West Africa

Xtra-Gold Resources Corp. announced an updated Mineral Resource Estimate for its Kibi Gold Project in Ghana, effective October 1, 2026. The update incorporates 123 additional diamond drill holes totaling 27,384.5 meters drilled since the previous September 2024 estimate.

The total Indicated Mineral Resource increased to 1,404,900 ounces of gold, up from 1,058,200 ounces in September 2024. The total Inferred Mineral Resource remains at 180,800 ounces of gold. The estimate includes an initial declaration for the Orange No. 5 deposit and an update for the Boomerang deposit. Approximately 87% of the Indicated Resource is concentrated in four deposits: Big Bend, East Dyke, Boomerang, and Orange No. 5.

The estimate includes a "Buffer Zone" between the existing Apapam mining lease and the Forest Reserve. Formal approval for the lease extension is pending, though the existing lease remains legally valid under Ghanaian law. The technical methodology follows CIM Standards and NI 43-101, prepared by Pivot Mining Consultants and Tect Geological Consulting.

Xtra-Gold Resources Corp. (XTG) reported an increase of approximately 346,000 ounces of Indicated gold, a development that supports the company’s long-term resource definition plan and validates the geological continuity of the Kibi Gold Belt. This update aligns with management’s stated objective of establishing a multi-million-ounce gold camp.

The company continues to rely on alluvial gold sales to fund its exploration activities, a revenue stream management has explicitly flagged as depleting within approximately two years. The resource update does not alter the company’s immediate financial trajectory or operational funding model. No new production timeline, feasibility study, or capital raise was announced alongside the Mineral Resource Estimate (MRE).

Xtra-Gold Resources Corp. is a gold exploration and alluvial mining company focused on the Kibi Gold Project in the Eastern Region of Ghana. The project covers a 226 km² land position, or 55,905 acres, and is located 120 km from Accra. The corporate structure involves a 90% ownership by Xtra-Gold and a 10% stake held by the Ghanaian government.

The company operates a Community Mining Project for alluvial gold, which generates recurring revenue to fund hard rock exploration. Drilling history includes 765 holes totaling 136,327 meters, with a focus on expanding known deposits and testing new targets like Cobra Creek and Hillcrest. Management aims to define a 2+ million ounce gold resource to establish the Kibi Gold Project as a significant gold camp.