Xplore Resources Announces Changes to Board of Directors

Toronto, Ontario–(Newsfile Corp. – April 21, 2023) – Xplore Resources Corp. (TSXV: XPLR) (“Xplore or “the Company”), announces that, effective immediately, Mr. David Patterson has resigned from the Board of Directors. The Board wishes to thank Mr. Patterson for his services.

Also, effective immediately, Mr. David Walters, MBA, has agreed to join the Board of Directors. Mr. Walters is a Managing Director at Ensign Capital, a Canadian registered Exempt Market Dealer, and is a Director at Steep Hill. He previously managed the WATT Energy Limited Partnerships, has held Director positions at publicly-listed Bird River Resources, Vast Exploration, and Stetson Oil & Gas and has served as the Chief Executive Officer of Longford Energy. Mr. Walters received an undergraduate engineering degree from the Royal Military College of Canada and an MBA from the University of Western Ontario.

Wes Hanson, President and CEO of Xplore, stated, “On behalf of the Board, I wish to thank Mr. Patterson for his contributions to Xplore over these past few years and wish him all the best in his future endeavours. His efforts on behalf of Xplore are greatly appreciated. We also take this opportunity to welcome David Walters to the Board and look forward to working with him as we continue to focus on our lithium prospective properties in Canada and Brazil. David brings extensive experience in project financing, accounting and capital markets to the Board. We are especially excited about the discovery potential at both the Surge and Perrigo Lake claims, on strike of what is evolving into one of the most prospective, hard rock lithium exploration districts in Ontario.”

About Xplore Resources (TSXV: XPLR)

Xplore Resources is a Toronto-based mining exploration company listed on the TSX Venture Exchange under symbol XPLR and is focused on the acquisition and exploration of grass roots lithium properties in Canada and Brazil. The Company is led by a highly experienced management team comprised of industry experts with executive and senior management experience in geology, banking, private equity, investor relations and law.

Lithium Properties

The Company is earning a 100% interest in the Surge (~3400 ha) and Perrigo Lake (~3300 ha) lithium properties, both situated in northwester ON, approximately 100 kms north of Sioux Lookout ON. The Surge property lies along the regional scale Pakwash-Lake St. Joseph Fault, approximately 2.0 kms east of the Root Bay lithium discovery. The Perrigo property is located west of the Allison Lake batholith considered to be “the largest fertile peraluminous granite mass in northwestern Ontario.”

The Company, through it’s wholly owned Brazilian subsidiary, holds a 100% interest in the Energia (~4500 ha) and Borborema (~9100 ha) lithium properties in Brazil. The Energia claims are situated in the state of Minas Gerais, the center of Brazil’s rapidly evolving lithium production. The Borborema claims are situated in the state of Rio Grade de Norte in northeastern Brazil, in a Borborema pegmatite field, a historically significant producer of tantalum prior to 1980.

Qualified Person

Mr. Wes Hanson, P. Geo., President & CEO of Xplore and registered in the Province of Ontario is the “Qualified Person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.

ON BEHALF OF THE BOARD

“Wesley C. Hanson”
President & CEO

For further information, please contact:

Phone: +1 647-362-9675
Email: [email protected]

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 THIS RELEASE

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

Notice on forward-looking statements:

Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Xplore cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Xplore’s control. Such factors include, among other things: risks and uncertainties relating to Xplore’s ability to complete the proposed Transaction; and other risks and uncertainties, including those to be described in the Filing Statement to be filed by Xplore on SEDAR.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Xplore undertakes no obligation to publicly update or revise forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163410

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