Xali Gold Corp. (TSX-V:XGC) is pleased to announce that the previously announced non-brokered private placement closed on June 23, 2026, for gross proceeds of C$1,000,000. The Private Placement will support the Company’s advancement of the Pico Machay Gold Project, an advanced exploration stage project in Peru with a near-term production goal.

“We are pleased to welcome two new shareholders to Xali Gold and appreciate their confidence in both our team and the potential of the Pico Machay Gold Project,” stated Joanne Freeze, President and CEO of Xali Gold. With work underway to support an updated mineral resource estimate and updated Preliminary Economic Assessment, we believe that Pico Machay is entering an important stage of de-risking and offers a compelling opportunity to create value for our shareholders.”

The Private Placement resulted in the issuance of 4,000,000 common shares at a price of C$0.25 per Share. There are no warrants issued with this Private Placement. The Shares are subject to a mandatory four month and one day hold period commencing the day of closing of the Private Placement.

The proceeds from this Private Placement will be allocated to the continued exploration and development of Pico Machay, including technical work that will support an updated mineral resource estimate followed by an updated PEA, geological and permitting work as well as ongoing community initiatives. The balance of the proceeds will be directed towards working capital and general corporate purposes

Finder’s fees equal to 6% of the value of the Private Placement is being paid in accordance with the policies of the TSX Venture Exchange. A total of C$30,000 was paid in cash and 120,000 common shares were issued.

About Pico Machay

Located within the Southern Peru Epithermal Gold-Silver Belt, Pico Machay sits in a historically productive mining district in the Western Cordillera Andes (click here for location map). The Project benefits from existing infrastructure and a mining-friendly community eager to partner on sustainable development.

Xali Gold remains confident that updating the historical resource and completing a Preliminary Economic Assessment will significantly de-risk the Project and help unlock significant value at Pico Machay. The Company also sees considerable upside potential from drilling several untested targets across the Project. Various historical engineering studies at Pico Machay targeted an open pit heap-leach operation, which was expected to be low-cost and with a low strip ratio. Given that those studies were based on a long-term gold price of $700/oz and several exploration targets remain untested, Xali Gold considers there to be excellent upside potential at Pico Machay.

About Xali Gold

Xali Gold is a gold and silver exploration company focused on advancing opportunities in the Americas. The Company is focused on the exploration and development of Pico Machay, an advanced exploration-stage gold project in Peru with a near-term production goal. Xali Gold maintains exploration potential as well as two royalty agreements with third parties who have the rights to produce gold and silver from specific areas of the El Oro gold-silver Project in Mexico, a historic district-scale precious metal system with a long history of significant gold and silver production.

Xali Gold is committed to working as a responsible partner and seeks to create shared value opportunities with local communities.

Joanne C. Freeze, P.Geo. is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the contents of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Xali Gold Corp.

“Joanne Freeze” P.Geo.
President, CEO and Director

For further information please contact:
Joanne Freeze, President & CEO
Tel: + 1 (604) 512-3359
info@xaligold.com