Xtra-Gold drilling confirms Kibi Gold expansion potential

Xtra-Gold Resources Corp. has announced the initial assay results from its current Zone 3 exploration drilling programme targeting resource expansion opportunities along the southwestern segment of the over three-kilometre-long Zone 2 – Zone 3 anticlinal fold structure on the company’s whollyowned Kibi Gold Project, located in the Kibi – Winneba greenstone belt in Ghana, West Africa.

The assay results correspond to exploration drilling conducted since the late July 2021 database close-out date for the recently-published updated Mineral Resource Estimate.

The Kibi Gold Project hosts Indicated Mineral Resources containing 623,700 ounces of gold (13,893,000 tonnes grading 1.40 g/t gold) and additional Inferred Mineral Resources containing 180,700 ounces of gold (5,694,000 tonnes grading 0.96 g/t gold).

Assay results reported include the following highlights: Boomerang East Zone

- 6.0 metres (“m”) at 6.19 grams per tonne gold (“g/t Au”), including 2.6 m at 13.82 g/t Au, from 52.0 m in hole #KBDD21434

- 33.5 m at 1.22 g/t Au, including 7.5 m at 3.76 g/t Au, from 31.5 m in hole #KBDD21453

- 16.5 m at 6.23 g/t Au, including 6.5 m at 13.74 g/t Au, from 1.5 m in hole #KBDD22455

- 13.5 m at 1.64 g/t Au, including 6.0 m at 3.35 g/t Au, from 0.0 m in #KBDD22458; followed by a second interval of 21.0 m at 1.46 g/t Au from 39.0 m, including 11.0 m at 2.49 g/t Au

Boomerang West Zone

- 29.0 m at 1.04 g/t Au, including 4.5 m at 3.27 g/t Au, from 50.0 m in #KBDD21423

- 6.0 m at 3.12 g/t Au from 9.0 m in hole #KBDD21425 Twin Zone

- 13.2 m at 1.07 g/t Au from 161.0 m in hole #KBDD21419

- 4.0 m at 3.53 g/t Au from 157.0 m in hole #KBDD21448

James Longshore, President and CEO remarked: “Our ongoing Zone 3 exploration drilling program continues to further delineate multiple mineralisation zones along the southwest extension of the Zone 2 – Zone 3 fold structure, spanning over 1,000 m beyond the limits of the currently defined mineral resource. These latest positive drilling results, combined with recent trenching and surface mapping, are transforming our structural understanding of the Zone 3 gold mineralisation, as well as further validating our 3D geological modelling”.

“We remain steadfast in our efforts to advance these earlystage gold zones to the resource stage, as well as identifying additional targets in Zone 3, with the goal of driving the next phase of resource growth at the Kibi Gold Project.”

The current Kibi Gold Project drill results correspond to the first 44 boreholes (5,898 m) of an ongoing exploration initiative targeting resource expansion opportunities along the southwestern (Zone 3) segment of the over three-kilometre-long Zone 2 – Zone 3 anticlinal fold structure.

With the exploration programme focusing on follow-up drilling of the early-stage Boomerang East, Boomerang West, and Twin Zone (formerly

JK East) targets positioned along similar second-order fold hinge structures as the neighbouring Double 19 resource body, and scout drilling of prospective litho-structural gold settings identified by recentlycompleted detailed 3D geological modelling.

The present 44 diamond core boreholes were completed by the Company’s in-house drilling crews from late July 2021 to mid-January 2022 (#KBDD21415 - #KBDD22458), including: 6 holes (546 m) at Boomerang West, 24 holes (3,473.2 m) on the Twin Zone, 9 holes (1,250 m) at Boomerang East, and 5 scout holes (628.8 m).