X-Terra Resources drills more gold at Northwest

ROUYN-NORANDA, QC , May 12, 2021 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (" X-Terra ") is pleased to announce that it has drilled gold in five of eight holes at the Rim target on the Northwest property located in Restigouche county, New Brunswick .

The drill holes reported in this press release were drilled over the Rim vein system, which is associated with a kilometric fold hinge and shear zone developed inside the White Brook Ordovician sedimentary formation. The drill program consisted of 1,233 metres including 8 holes drilled in a staggered pattern to test the various types of magnetic contrasts inside a 800 metre long, 200 metre wide section centered on the RIM showing. Two holes intersected a wide gold bearing stockwork which returned isolated grades between 1.0 and 3.2 g/t Au over core lengths varying between 0.4 and 1.3 metres (see table below).

This drill program was designed using the high-definition drone based magnetic survey which highlighted a typical regional fold hinge shape extending for about 1 kilometre north of the RIM vein.

To date, the geological evidence indicates that the gold system is associated with a higher density of quartz veins, ranging from of a few centimetres to 1.5 metres, developed over 20 to 30 metres intervals. Current interpretation of the gold system indicates a northeast orientation parallel to the regional folding axis and a sub-vertical dip and a thickness of approximately 10 metres. Recent drilling has intersected the mineralization down to 100 metres depth, which remains open.

In addition, the RIM vein system is included inside a network of dykes of intermediate composition, which are a few metres thick, surrounded by skarn type alteration, and occasionally hosting fine disseminated sulfides.

Table: RIM-21-05 to RIM-21-09

Note: Holes RIM-21-07, RIM-21-10 and RIM-21-11 hosted no values above 0.1 g/t Au.

Work and drilling to date have highlighted three favorable factors:

1. The high-grade nature of the RIM system is associated with free gold;
2. An extensive gold bearing footprint as highlighted by drilling, soil and surface sampling (See image below);
3. The RIM system, like other gold bearing veins on the Northwest property are related at the regional scale to the McKenzie Gulch Fault.

Michael Ferreira , President and Chief Executive Officer of X-Terra stated; "These results have now highlighted that strong structural controls can be utilised at RIM in order to provide an orientation to the future exploration programs. A follow up geochemical survey will be carried out to precisely locate the extents of the larger than anticipated gold footprint and possibly highlight other parallel structures."

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 43 – 101 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 and drilling results) of the Northwest property, or if it does so, what benefits X-Terra will derive from the Northwest 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, 2020 , 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.

SOURCE X-Terra Resources Inc.

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