VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2009) - X-Cal (TSX:XCL) has received $453,750 from warrants, which had
a June 10, 2009 expiry date. A total of 4,537,750 warrants @ $0.10 per
share were exercised. Insiders subscribed for 575,000 shares.
The proceeds from the warrants will add to existing treasury funds, to
be used for general corporate purposes and to advance the Sleeper Gold
Project, located in Humboldt
County, Nevada.
A Preliminary Economic Assessment of the gold and silver resources at
Sleeper is in progress.
In addition to Sleeper, X-Cal has two Cortez Area Gold Properties and
the West Rochester property in the Spring Valley Area, Nevada. All
properties are 100% owned by X-Cal.
The contents of this release have been reviewed by Larry Kornze, P.Eng., who is a "Qualified Person" as defined
by NI 43-101.
Shawn Kennedy, President
Caution Concerning Forward-Looking Statements
This release and related documents may contain certain
"forward-looking statements" including, but not limited to,
statements relating to interpretation of drilling results and potential
mineralization, future exploration work at the Sleeper Gold Project,
the Mill Creek Gold Project, the Reese River Project and the Spring
Valley Area Project and the expected results of this work. Forward
looking statements are statements that are not historical facts and are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected in
the forward-looking statements, including, without limitation: risks
related to fluctuations in gold prices; uncertainties related to
raising sufficient financing to fund the planned work in a timely
manner and on acceptable terms; changes in planned work resulting from
weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations
and realize the perceived potential of the Sleeper Gold Project, the
Mill Creek Gold Project, the Reese River Project and the Spring Valley
Area Project; uncertainties involved in the interpretation of drilling
results and other tests; the possibility that required permits may not
be obtained in a timely manner or at all; risk of accidents, equipment
breakdowns or other unanticipated difficulties or interruptions; the
possibility of cost overruns or unanticipated expenses in the work
program; the risk of environmental contamination or damage resulting
from the exploration operations at the Sleeper Gold Project, the Mill
Creek Gold Project, the Reese River Project and the Spring Valley Area
Project.
Forward-looking statements contained in this release and related
documents are based on the beliefs, estimates and opinions of
management on the date the statements are made. There can be no
assurance that such statements will prove accurate. Actual results may
differ materially from those anticipated or projected. X-Cal Resources
Ltd. and X-Cal USA, Inc. undertake no obligation to update these
forward-looking statements if management's beliefs, estimates or opinions,
or other factors, should change.
|