Mr. Deepak Varshney reports

XANDER RESOURCES ANNOUNCES COMPLETION OF GEOLOGICAL MAPPING AND SOIL SAMPLING PROGRAM AT ITS 100% OWNED SENNEVILLE PROJECT

Xander Resources Inc. has completed the 2023 geological mapping and soil sampling program at the company's Senneville project, located in the eastern part of the Abitibi greenstone belt, about 25 kilometres northeast of the gold mining centre of Val d'Or, Que. The company's Senneville project covers over 100 square km and is contiguous in the south to Probe Metals' Novador project, host to the 2.04-million-ounce Monique resource grading 1.42 grams per tonne Au, and in the north to Monarch Mining's Beaufor mine, which has produced over 1.1 Moz Au.

The work was focused on the claims nearby and adjacent to the McKenzie Break project, owned and operated by Monarch Mining, which has produced over 1.1 million ounces of gold and has a 2021 resource estimate with open-pit and underground indicated resources of 145,982 ounces and inferred resources of 250,593 ounces gold. In total, 34 samples were collected for assay by a two-person prospecting crew covering an approximately 20 square km area, and 651 mobile metal ion geochemical samples were collected by a six-person soil sampling crew at a 50-metre sample spacing on 100-metre-spaced lines over a strike of two kilometres. These field samples, along with quality assurance samples (the company's quality assurance/quality control measurements included the insertion of standards, blanks and duplicates at regular intervals in the sampling run), were submitted to Agat Laboratories and SGS Canada Inc., respectively, for geochemical analyses.

The goal of the program was to expand on the historic exploration work as the majority of this has focused on or around the Gustave Cere showing in the Senneville South claim group where historical grab samples have yielded up to 49.5 grams per tonne Au, channel samples of up to 6.5 g/t Au over 1.8 m and drilling has identified up to 18.15 g/t Au over approximately 0.9 metre. This showing has been defined by drilling for approximately 361 m along strike but other areas of the project have not been systematically explored for gold as the focus of historical work was largely on the property's volcanogenic massive sulphide potential.

The project is underlain primarily by the Garden Island sediments in the south and in the north by the Lanaudiere group of basalts, mafic volcaniclastics, and narrow units of komatiite and ultramafic to gabbroic sills. All of these units trend west-northwest and their contacts are usually dextral or reverse dextral faults with steep northerly dips. Gold-bearing zones in the area are associated with shear zones, faults, tension fractures and tectonic breccias, and are generally associated with syn-volcanic intrusions.

The data will be integrated with the historic geological mapping results and compiled data from previous exploration to assist in 3-D geological modelling and the delineation of potential drill targets.

Deepak Varshney, company chief executive officer, comments: "We are excited to continue to advance the Senneville property. The detailed geological mapping further develops our understanding of the gold-bearing zones. We look forward to utilizing this data to assist in identifying drill targets for our next drill campaign."

Fenelon project update

The company further announces that it has elected to drop the claims comprising the Blue Ribbon property in the Fenelon gold camp. The claims were allowed to expire and not renewed following a comprehensive review of the project's potential, upside exploration expansion potential and alignment with the company's strategic objectives. Moving forward, the company will prioritize its efforts on the Senneville gold project and the Timmins nickel project.

Qualified person

The technical content of this news release has been reviewed and approved by Andrew Tims, PGeo, a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Xander Resources Inc.

Xander Resources is a Canadian mineral acquisition and exploration company based in Vancouver, B.C., Canada, focused on developing accretive gold and battery metal properties within Canada. The company currently has a focus on projects located within the provinces of Ontario and Quebec. Xander is exploring for commercially exploitable mineral deposits and is currently focused on two projects: the Senneville gold project located in Val d'Or, Que., which comprises over 100 square km and is contiguous in the south to Probe Metals' new discovery, and contiguous in the north to Monarch Mining, in close proximity to Eldorado Gold's (formerly QMX Gold) projects; and the Timmins nickel project located near and adjacent to Canada Nickel's MacDiarmid and Crawford projects, respectively.

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