Xtra-Gold Resources Corp. announced assay results for an additional 13 diamond core boreholes totalling 3,047 metres from its ongoing Boomerang East resource expansion drilling program on the Company's wholly-owned Kibi Gold Project, located in the Kibi - Winneba greenstone belt (the "Kibi Gold Belt"), in Ghana, West Africa. With the present drilling, targeting the down-plunge continuity of the recently identified Lower Shoot mineralization zone, returning multiple, broad intercepts of robust gold mineralization extending from practically surface to a down-plunge depth of approximately 350 metres.

The current drilling forms part of an aggressive in-house drilling initiative focussing on multiple resource expansion targets along the southwest (Zone 3) segment of the over three-kilometre-long Zone 2 - Zone3 anticlinal fold structure; stretching over one kilometre beyond the limits of the current Mineral Resource Estimate. Lower Shoot (Expansion Drilling) - 50.0 metres ("m") at 1.35 grams per tonne gold ("g/t Au") from 180.2 m in KBDD22484 - 45.0 m at 1.32 g/t Au, including 21.0 m at 2.03 g/t Au, from 12.0 m in KBDD22485 - 33.0 m at 1.76 g/t Au, including 15.0 m at 2.48 g/t Au, from 233.0 m in KBDD22463 (re-entered /extended hole) - 44.0 m at 1.02 g/t Au, including 15.0 m at 1.78 g/t Au, from 176.0 m in KBDD22487 - 41.0 m at 1.01 g/t Au, including 22.0 m at 1.48 g/t Au, from 230.0 m in KBDD22494 - 47.5 m at 0.86 g/t Au, including 27.0 m at 1.19 g/t Au, from 5.5 m in KBDD22492New Gold Mineralization (Potential for Stacked Gold Shoot System) - 20.0 m at 0.76 g/t Au from 53.0 m; and 11.0 m at 0.97 g/t Au from 117.0 m; and 1.0 m at 7.54 g/t Au from 148.0 m in KBDD22484 - 9.0 m at 0.95 g/t Au from 108.0 m; and 10.0 m at 1.01 g/t Au from 169.0 m; and 21.0 m at 0.48 g/t Au from 291.0 m in KBDD22491 - 8.0 m at 1.83 g/t Au from 93.0 m; and 6.0 m at 1.56 g/t Au from 114.0 m; and 13.0 m at 0.73 g/t Au from 198.0 m in KBDD22494 - 4.5 m at 3.66 g/t Au, including 1.0 m at 7.38 g/t Au, from 241.5 m in KBDD22487. Kibi Gold Project drill results correspond to 13 expansion drill holes targeting the down-plunge and lateral continuity of the recently defined Lower Shoot mineralization zone, forming part of the Boomerang East gold system, located along the southwestern (Zone 3) segment of the over three-kilometre-long Zone 2 - Zone 3 anticlinal fold structure.

The diamond core boreholes totalling 3,047 m were completed by the Company's in-house drilling crews from mid-May to late August 2022, including:12 new holes (KBDD22483 - KBDD22494) and one hole extension (KBDD22463). Hole KBDD22463was originally drilled to 143.0 m in February 2022 and re-entered /extended by 162.3 m to a final depth of 305.3 m in July 2022 to reach the Lower Shoot mineralization zone. A total of 80 holes (12,198 m) have been completed since the initiation of the ongoing drill program following the database close-out date for the current 2021 MRE.

Exploration significant Gold mineralization along the Zone 2 - Zone 3 MRE trend is emplaced along the limbs and hinge of a 1stOrder ("F2a"), tight to isoclinal, anticlinal fold structure, with mineralization zones further occupying 2ndOrder ("F1") isoclinal fold hinges on a target scale. Mineralization consists predominantly of tensional arrays of auriferous quartz-carbonate veins hosted by folded diorite bodies with an interpreted Belt-type granitoid affinity. Over 20 significant gold occurrences hosted by Belt (Dixcove)- and Basin (Cape Coast)-type granitoids are known in Ghana, with a number constituting significant deposits.

These deposits represent a relatively new style of gold mineralization for orogenic gold deposits within the West African Birimian terrain. Belt-type intrusion-hosted gold deposits include Newmont Mining's Subika deposit at their Ahafo mine and Asante Gold's Chirano deposit (formerly Kinross Mining) within the Sefwi gold belt, as well as the former Golden Star Resources' Hwini-Butre deposit at the southern extremity of the Ashanti gold belt. The present Boomerang East drilling targeted the down-plunge and lateral continuity of the recently defined Lower Shoot gold zone.

The drilling was conducted primarily along three NW-SE sections, including a near surface section, and two down-plunge sections spaced approximately 50 m apart, extending over an approximately 250 m trend-length of the NE-trending fold structure. With most of the holes consisting of NW-trending, steeply inclined (-70o to -80o) boreholes designed to intersect the relatively flat-lying and moderately NE-plunging mineralization shoot. Ongoing 3D litho-structural modelling indicates that the Boomerang East gold system is emplaced within the inner arc of a tight, moderate NE-plunging, isoclinally folded diorite body.

The mineralization appears to occur as a system of stacked, flat-lying to crescent-shaped, NE-plunging gold shoots occupying the apparent fold hinge of the NE-trending, 1st Order, Zone 2 - Zone 3 anticlinal fold structure. With drilling to date tracing the Lower Shoot, presently the most prominent mineralization shoot of the Boomerang Eastgold system, from practically surface to a down-plunge depth of approximately 350 m along the fold hinge structure (approximately 220 m vertical depth from surface).Mineralized intercept highlights from the Lower Shoot drilling reported today, from near surface to down plunge, include: 45.0 m grading 1.32 g/t Au, including 21.0 m at 2.03 g/t Au, from down-hole depth of12.0 m in KBDD22485 and 47.5 m at 0.86 g/t Au, including 27.0 m at 1.19 g/t Au, from 5.5 m inKBDD22492 (~30 m NW of KBDD22485 intercept); 50.0 m at 1.35 g/t Au from 180.2 m in KBDD22484and 44.0 m at 1.02 g/t Au, including 15.0 m at 1.78 g/t Au, from 176.0 m in KBDD22487 (~30 m SE ofKBDD22484 intercept); and 33.0 m at 1.76 g/t Au, including 15.0 m at 2.48 g/t Au, from 233.0 m inKBDD22463 and 41.0 m at 1.01 g/t Au, including 22.0 m at 1.48 g/t Au, from 230.0 m in KBDD22494(~75 m SE of KBDD22463 intercept).Today's drilling results include over 15 significant intercepts of new gold mineralization, including several boreholes returning multiple new gold mineralization intercepts, lying outside of the previously identified Upper Shoot and Lower Shoot mineralized envelopes. The distribution of these new gold mineralization occurrences across an almost 300 m vertical distance further indicates the potential for the Boomerang East gold system to host an extensive array of stacked gold shoots.

New gold mineralization intercept highlights include: 20.0 m grading 0.76 g/t Au from 53.0 m, and 11.0 m at 0.97 g/t Au from 117.0 m, and1.0 m at 7.54 g/t Au from 148.0 m in KBDD22484; 9.0 m at 0.95 g/t Au from 108.0 m, and 10.0 m at1.01 g/t Au from 169.0 m, and 21.0 m at 0.48 g/t Au from 291.0 m in KBDD22491; and 8.0 m at 1.83 g/tAu from 93.0 m, and 6.0 m at 1.56 g/t Au from 114.0 m, and 13.0 m at 0.73 g/t Au from 198.0 m inKBDD22494.