Mr. Anton Drescher reports

XIANA TRANSFERS 100% OWNERSHIP INTEREST IN MINERA ALTOS DE PUNITAQUI TO BATTERY MINERALS RESOURCES CORP.

Further to Xiana Mining Inc.'s news release of March 8, 2021, the company has transferred all its interest in Minera Altos de Punitaqui (MAP) to Battery Mineral Resources Corp. (BMR), following the exercise by BMR of the call option pursuant to which BMR has converted its leasehold interest into a direct ownership interest, for no additional consideration (BMR news release of March 8, 2021). As of the date of this news release the transfer of ownership has been completed, with BMR now holding a 100-per-cent ownership interest in MAP.

In addition, the company reports the resignation of Timothy Moody as a director of the company. The company would like to thank Mr. Moody for all his support.

About Xiana Mining Inc.

During 2020, Xiana suffered significant setbacks due to the COVID-19 pandemic. The Chilean government declared a state of emergency which lasted several months (news releases April 28, 2020, and May 29, 2020) which resulted in a significant decline in the copper price and deteriorating macroeconomic climate, thus impacting the cash flow and profitability of MAP which in turn affected the production cycle at the operations. MAP elected to suspend material production and move to care and maintenance to ensure compliance with quarantine regulations and reduce further creditor claim exposure. Patrimony protection under Chilean law (news release June 1, 2020) was sought and approved by the 21st Civil Court of Santiago on May 29, 2020, allowing the company to seek to reorganize its existing financial liabilities. During this period, the company entered into a forbearance agreement with Bluequest Resources AG (news release July 20, 2020) in connection with a loan agreement dated Oct. 24, 2018, as amended on July 29, 2019. The company defaulted under the Bluequest loan agreement for failing to make the required interest payments when due and failing to comply with the financial covenants of the loan agreement. On Oct. 14, 2020, the company received creditor and Chilean court consent with respect to the judicial reorganization agreement by the company's wholly owned subsidiary, Minera Altos de Punitaqui (news release Oct. 16, 2020). On Nov. 24, 2020, the company received notice, dated Nov. 24, 2020, from subsidiaries of Glencore PLC for deferred consideration payment of $10-million (U.S.), which became due on Nov. 13, 2020, as well as a further adjustment for late payment interest at a rate of LIBOR (London interbank offered rate) plus 4 per cent on the outstanding amount. As at today's date the company has failed to reach a settlement with respect to this outstanding debt. On March 8, 2021, the company entered into an agreement with Minera BMR SPA (BMR Chile), a wholly owned subsidiary of Battery Mineral Resources, to acquire the Punitaqui mining complex. As consideration BMR will pay over a period of six years MAP-related debts, totalling $25.9-million (U.S.).

We seek Safe Harbor.