Xander Resources Announces Closing of Oversubscribed Non-Brokered Private Placement,

(TheNewswire)

Vancouver, British Columbia TheNewswire – May 3, 2022 Xander Resources Inc. (“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce that, subject to the approval of the TSX Venture Exchange (the ” Exchange “), it has closed its oversubscribed, non-brokered private placement (the ” Private Placement “) issuing an aggregate of 30,903,770 units (the ” Units “) at $0.07 per Unit for gross proceeds of $2,163,263.87 and 6,500,000 national flow-through units (the ” FT Units “) at $0.08 per FT Unit for gross proceeds of $520,000 for total proceeds of $2,683,263.87 raised in the Private Placement.

The Company is pleased to announce that Stan Bharti subscribed for 500,000 Units of the Private Placement. Mr. Bharti is considered one of the leading strategic investors in the junior mining sector, and t through his affiliation with Forbes & Manhattan Inc. ( www.forbesmanhattan.com ) has built an impressive track record of success over the past 15 years, including:

• Desert Sun Mining, Jacobina Mine in Brazil, starting with $5 million in seed capital and sold to Yamana Gold Inc. for $580 million in 2006 (share price increased from $1.46/share to over $5.50/share);

• Avion Gold, acquired for $20 million in 2008 and sold to Endeavour for $389 million in 2012 (share price increased from $0.38/share to $0.88/share);

• Crocodile Gold acquired out of bankruptcy in 2009 for $40 million and sold for over $200 million to a private hedge fund in 2011 (share price increased from $0.25/share to $0.62/share); and

• Sulliden Gold, invested at $0.45/share in 2009 and sold at $1.12/share in 2014.

Deepak Varshney, President and CEO of the Company commented: “We are thrilled to have Stan as a key strategic and cornerstone shareholder of our Company. Stan is a well-respected leader in the resource sector and supports our vision for Xander. His experience will be invaluable to our Company as we move forward and this partnership will help accelerate the exploration and development of our properties in a meaningful way.”

Private Placement

In aggregate, 30,903,770 units at $0.07 per Unit were issued for gross proceeds of $2,163,263.87 and 6,500,000 FT Units were issued at $0.08 per FT Unit for gross proceeds of $520,000 for total proceeds of $2,683,263.87 raised in the Private Placement.

Each Unit consists of one common share of the Company (a ” Share “) and one transferable common share purchase warrant (a ” Warrant “) exercisable at $0.10 per Share for a period of three (3) years from the date of closing (the ” Expiry Date “).

Each FT Unit consists of one flow-through common share of the Company and one transferable Warrant exercisable at a price of $0.10 per Share until the Expiry Date.

The net proceeds from the Private Placement will be used for exploration at Xander’s Timmins Nickel Project (the ” Nickel Property “) and general working capital.

In connection with the Private Placement, the Company paid finder’s fees of (i) $1,396.50 cash and 19,950 non-transferable finder’s warrants (the ” Finder’s Warrants “) to Research Capital Corporation; $17,499.65 cash and 249,995 Finder’s Warrants to GloRes Securities Inc.; and (iii) $189,017.99 cash and 2,911,000 broker’s warrant (the ” Broker’s Warrants “) to IBK Capital Corp.

Each Finder’s Warrant is exercisable into Shares of the Company at prices of $0.07 and $0.10 per Share until the Expiry Date.  Each Broker’s Warrant is exercisable to purchase one unit (a ” Broker Unit “) at an exercise price of $0.07 per Broker Unit until the Expiry Date. Each Broker Unit consists of one Share and one non-transferable Warrant exercisable to purchase one Share of the Company at $0.10 per Share until the Expiry Date.

About Xander Resources Inc.

Xander Resources Inc. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, 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 deposits located in Val-d’Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. 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 east of the North American Lithium Deposit, Great Thunder Gold‘s Chubb Lithium property and East of the Sayona Quebec’s Authier Lithium Deposit, all in the Val-d’Or Mining Camp, plus its newly acquired nickel-sulphide project in Timmins, Ontario near Canada Nickel’s MacDiarmid and Crawford Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

Deepak Varshney, P.Geo., President and CEO

For more information, please email ir@xanderresources.ca , or visit www.xanderresources.ca .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

This news release includes “forward-looking information” under applicable Canadian securities legislation including, but not limited to, the anticipated closing of the Transaction and private placement. Such forward-looking information reflects management’s current beliefs and are based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. There are no assurances that the Company will successfully complete the Transaction and the private placement on the terms contemplated or at all. All forward-looking information contained in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future…