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Xali Gold Says Sampling at Pico Machay Project in Peru Confirm High Grades

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Xali Gold (XGC.V) on Tuesday said assay results from its exploration program at the Pico Machay Gold Project in central Peru showed continued high grades within the historical resource area.

Sixty-seven of 119 surface samples returned more than 0.50 grams per tonne (g/t) gold. Xali also reported 2.92 g/t gold over 31.5 meters from surface channel 1 including 13.76 g/t gold over 4.5m.

"These results continue to build our confidence in Pico Machay," said chief executive Joanne Freeze. "The consistency of the results, including indications of potentially higher grades within the historical resource area, is very encouraging. Equally important are the numerous anomalous gold results returned from underground workings and surface samples outside the resource area."

Xali Gold shares were last seen up C$0.01, to C$0.23, on the TSX Venture Exchange.

Price: $0.23, Change: $+0.01, Percent Change: +4.55%

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