X-Cal Calls Shareholder Meeting: Report on the Sleeper Gold Property Filed to Sedar
Mar 14, 2006
X-CAL RESOURCES LTD has filed a NI-43-101 type of technical report on the Sleeper Gold Property to SEDAR. The Technical Report dated March 12, 2006 by Robert Thomason M.Sc. (independent), Winthrop Rowe, M.Sc., X-Cal US Projects Manager, and Larry Kornze P. Eng. has also been posted to the Report Section of http://www.x-cal.com.
Succinct papers by Dr. Richard Sillitoe and Dr. Jeffrey Hedenquist were posted to the News Release Section of http://www.x-cal.com on January 26/06 and can be accessed through links contained in the press releases of that date. Today’s large volume report provides an opportunity to view some of the in-depth data summarized in these papers.
Dr. Richard Sillitoe’s paper entitled: “Exploration Potential of the Sleeper Project, Nevada” is also available in the appendix section of today’s NI-43-101 report. X-Cal is particularly interested in the vein patterns at Sleeper, Midas and El Peñón mentioned in Dr. Sillitoe’s paper.
A Shareholders Meeting has been called for April 24/2006 to approve a share issue for the purpose of consolidating title to the Sleeper Gold Project 100% with X-Cal (see press release dated January 25/06) and to fund exploration of the targets described in Dr. Sillitoe’s paper which are detailed in today’s NI-43-101Technical Report on the Sleeper Gold Property. A mailing to the shareholders will precede the Shareholders Meeting.
The Sleeper Gold Project is an advanced exploration project with a District Scale Land Package and massive database.
Shareholders and analysts are encouraged to:
(A) review the summary information in the papers by Dr. Richard Sillitoe and Dr. Jeffrey Hedenquist, and inquire about the credentials of these independents,
(B) inquire about the track records of X-Cal’s technical team (named in the Sillitoe paper) and
© utilize the large volume NI-43-101 Report as a baseline reference document.
The goal of management is to provide shareholders and analysts with the same data that has formed our view of the Sleeper Gold Project’s potential.
The 30 square mile Sleeper Gold District, located in Humboldt County, Nevada, is the main focus of the company.
X-Cal also has two “early stage gold projects”: The “Horse Mountain Window” Reese River Pediment Project and the “Goat Window” Mill Creek Gold Property, located in the “Cortez Area”, Lander County, Nevada.
Larry Kornze, P. Eng. and Robert Thomason M.Sc., who are Qualified Persons as defined by NI-43-101, have reviewed the contents of this release.
Caution Concerning Forward-Looking Statements
This news 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 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; 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.
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 undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.
Shawn Kennedy
President
