Xali Gold Announces Stock Options Grant

Executive Summary

• Xali Gold granted incentive stock options to purchase 2,200,000 common shares at $0.05 per share, with a five‑year term expiring October 30 2030.
• The company reiterated that its recently announced acquisition of the Pico Machay Gold Project in Peru is a “fundamental acquisition” and remains subject to TSX Venture Exchange approval under Policy 5.3.
• Xali Gold highlighted the historic exploration work on Pico Machay, noting upside potential from untested targets and prior engineering studies that support a low‑cost open‑pit heap‑leach operation.

Key Details

• Option Grant: 2,200,000 common shares; exercise price $0.05 per share; five‑year term (expires 2030‑10‑30).
• Recipients: Certain directors, officers, employees and consultants of Xali Gold.
• Acquisition Status: Pico Machay acquisition announced on 2025‑10‑24; pending receipt and review of acceptable documentation by the TSX Venture Exchange; subject to exchange approval per Policy 5.3.
• Project Background: Discovered 1997; explored through 2009 by juniors including Aquiline Resources Inc.; engineering studies indicated a low‑cost, low strip‑ratio open‑pit heap‑leach operation based on a $700/oz gold price assumption.
• Upside Potential: Several exploration targets remain untested; Xali Gold believes the property offers significant upside.
• Qualified Person: Joanne C. Freeze, P.Geo., President & CEO, reviewed and approved the release per NI 43‑101.

Notable Quotes

“The Pico Machay transaction is a fundamental acquisition for Xali Gold, and we are confident that the project’s historic engineering work combined with untested targets provides excellent upside potential.” – Joanne C. Freeze, President & CEO.