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Xander Resources acquires property at Fenelon

May 22, 2020

Xander Resources Inc. has announced that it has entered into a definitive agreement to purchase the Blue Ribbon Property located about 11km south-west of the Fenelon Mine Project of Wallbridge Mining. The Property is contiguous with Probe Metals, Midland Exploration and Great Thunder Gold properties.

The Property is made up of 34 claims which cover approximately 1,885.25 hectares (18.88km2). Access to the Property is by road 810, off Highway 109, and thereafter by a series of logging roads. The northern portion of the Property overlies the Broullian-Fenelon Group of rocks, which is comprised of felsic to mafic volcanics and sediments and is located in the northernmost greenstone segment of the Abitibi Sub-province, a region which is underexposed and underexplored. The southern part of the Property overlies the northern edge of the Broullian Intrusive complex. The intrusive/volcanic contact is coincident with the west-northwest trending Bapst Fault. The Bapst Fault trends NW-SE through the Property and is characterized by brecciated and sheared dacite, often with disseminated pyrite.

There are many gold and base metal occurrences within the Broullian-Fenelon Volcanics on the south side of the Broullian Intrusive Complex, including the former Selbaie Mine. The eastward extension of the Lower Detour Deformation Zone/the Grasset Deformation Zone is located just to the north of the Property. The Bapst Fault, which extends the length of the Property, may be a splay or bifurcation of the Grasset/Lower Detour Deformation zone.

Regional Potential

The Fenelon Gold Camp has sparked great exploration interest, due to the success of Wallbridge's exploration results reported in their news releases, dated December 3, 2019 and January 28, 2020 of 22.73 g/t gold over 48.01 meters and 43.47 g/t gold over 19.00 meters. A 70,000 - 80,000 meter drilling program is underway on the Wallbridge property and is expected to continue through the remainder 2020. For more information, see Wallbridge's news release dated May 19, 2020 filed on SEDAR.

The Lower Detour Deformation is one of several regional deformation zones along which a number of gold zones have been identified. These include the 58N/75 zone of Detour Gold, and intersections of 5.3 g/t Au over 3.4 meters and 17.5 g/t Au over 1 meter from the Probe Metals property and referenced in their news release, dated August 24, 2016.

The fortuitous combination of the major Bapst Fault, the intrusive/volcanic contact and the unexplored Broullian-Fenelon volcanic/sedimentary package all within the Property boundary bode well for the discovery potential of the Property.

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