K2 Gold

X-Terra Resources begins launches MMI, humus and till sampling at Troilus East

ROUYN-NORANDA, QC, Oct. 15, 2020 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to announce it has commenced a strategic MMI, humus and till sampling program over its 100% owned, 92 square kilometre Troilus East property located on the Frotet Evans greenstone belt, located approximately 130 kilometres north of the town of Chibougamau, Québec.

The program will cover five (5) unique grids, including the new mineralized system discovered this past summer, (See X-Terra press release dated August 13, 2020), with the goal of identifying drill targets for a program to be launched later this year.

The highest priority target is located about three kilometres east of the Troilus deposit (Troilus Gold, TSX: TLG) following the southwestern side of the property. The 2.2-kilometre-long target is based on the discovery by surface exploration of a polymetallic signature (Cu, Ag, Au, W). The mixed sequence of intermediate volcanic interlayered with dioritic intrusions identified in this area shares many similarities with the Troilus deposit.

The four (4) other sampling grids are distributed over a north-east structural corridor covering a strike length of approximately 13 kilometres. Targets were identified through a previous till survey using recovered gold grains. Despite the historical two kilometres spacing between lines, the systematic location of gold grain counts adjacent to strong magnetic contrasts can be considered as an indicator of a gold bearing structure.

This past summer's surface exploration program showed that the targeted areas had limited outcrops such that additional sampling techniques need to be employed. Accordingly, X-Terra plans to create a local dispersion train signature by increasing till sampling density to assess these targets for eventual drilling. The use of high-density soil sampling should enable the identification of locations where mineralization is more likely to occur at the surface where outcrops are very scarce. 

Michael Ferreira, President and Chief Executive Officer of X-Terra, stated; "The Frotet-Evans belt has seen a flurry of activity lately. The recent exploration success of Kenorland and most recently of Troilus Gold, keep shedding light on the vast possibility of additional gold occurrences along the underexplored greenstone belt. This survey will enable X-Terra to focus on key areas of the property that have highlighted encouraging results and will serve as a stepping stone to the next phase of exploration, which will include Troilus East's maiden drill program scheduled for later this year. We now have two simultaneous exploration programs underway with the ongoing drill program at the Grog and Northwest properties in New Brunswick, which will provide a great deal of news in the coming months".

Qualified Person

Jeannot Théberge, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X-Terra, a qualified person under National Instrument 43101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

Forward-Looking Statements

This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of X-Terra, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the exploration programs and development (including any drilling programs) of the Grog and Northwest Properties and the Troilus East property, or if it does so, what benefits X-Terra will derive from the Grog and Northwest Properties and the Troilus East property. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond X-Terra's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Financial Instruments" and "Risk and Uncertainties in X-Terra's Annual Report for the fiscal year ended December 31, 2019, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. X-Terra does not intend, nor does X-Terra undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

About X-Terra Resources Inc.

X-Terra is a resource company focused on acquiring and exploring precious metals properties in Canada.

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

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