Xali Gold Corp. announced that the TSX Venture Exchange is advancing on its approval process for the acquisition of the Pico Machay Gold Deposit ("Pico Machay"), terms of which are detailed in the Xali GoldNews Release dated October 24th, 2025. The Company understands that all outstanding technical and legal aspects have been addressed to the satisfaction of the TSX-V. The closing of both the Pico Machay acquisition and Tranche One of the previously announced non-brokered private placement (the "Private Placement") are to be completed simultaneously.
It is located within the Southern Peru Epithermal Gold-Silver Belt, and the well-established mining district of Huancavelica. Between 2005 and 2009, Aquiline and others completed various engineering studies including resource estimations and metallurgical testwork on Pico Machay. Aquiline targeted an open pit heap-leach operation, which was expected to be low-cost and with a low strip ratio.
Given that Aquiline's engineering work, prior to that company's acquisition by Pan American Silver, was based on a long-term gold price of $700/oz and several exploration targets remain untested by drilling, Xali Gold believes there is excellent upside potential.
