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Xali Gold Clarifies Agreement with Remedioambiente on the El Oro Property and Terminates Option on the Sarape Project in Mexico
VANCOUVER, British Columbia, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali...
About this update from Xali Gold Corp.
[{"type":"text","content":"Xali Gold Clarifies Agreement with Remedioambiente on the El Oro Property and Terminates Option on the Sarape Project in Mexico\n\n\n\n VANCOUVER, British Columbia, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (\"Xali Gold” or the “Company”) is pleased to advise that the TSX Venture Exchange (“TSX.V”) has completed their Reinstatement Review of Xali Gold, which had been delayed due to the Exchange requesting clarity on various property agreements.\n \n\n As per Xali Gold News Releases dated\n \n August 28, 2024\n \n and\n \n July 22, 2024\n \n , Remedioambiente S.A. de C.V. (“Remedioambiente”) has the right to recover gold and silver from mineralized veins and backfill left behind in the historic El Oro mine workings on five of the El Oro concessions, providing they make payments to Xali Gold equalling up to 3% Net Smelter Returns (“NSR”). The NSR is payable on all gold and silver extracted from historic workings above the 2400 metres above sea (“masl”) level. Xali Gold retains 100% of the exploration potential below 2400 masl.\n \n\n Remedioambiente is also obligated to keep the mineral rights in good standing by paying mineral rights fees past due and payable in the future on the five claims under option to them. Once the funds provided for past fees reach a minimum of $50,000, subject to prior Exchange acceptance, the past fees may be converted into shares in Xali Gold. Remedioambiente also has the right to appoint a mining engineer to the Board of Directors (the “Board”) of Xali Gold, and also an additional person to the position of Chair of the Board if they acquire greater than 20% of the outstanding shares in Xali Gold within 5 years of signing the agreement. All appointees must be approved by the current Board of Xali Gold and support current management. The Remedioambiente agreement remains subject to prior Exchange acceptance.\n \n\n As per Xali Gold News Releases dated\n \n July 29, 2025\n \n and\n \n August 21, 2025\n \n , the Company was advised on July 29, 2025, that a total of nine mining concessions in El Oro had been declared as cancelled by the Mexican Mines Bureau (“MMB”) in a manner that are understood to be unlawful. They are considered unlawful due to the failure to provide a l...