Xali Gold closes C$1M private placement for Peru gold project

Xali Gold Corp. (TSXV: XGC) closed a non-brokered private placement on June 23, 2026, raising gross proceeds of C$1,000,000 through the issuance of 4,000,000 common shares at C$0.25 per share, according to a press release from the company.

No warrants were issued as part of the placement. The shares are subject to a mandatory four-month and one-day hold period from the closing date.

The company said proceeds will be directed toward exploration and development of the Pico Machay Gold Project in Peru, including an updated mineral resource estimate and a Preliminary Economic Assessment (PEA), as well as geological and permitting work, community initiatives, and general working capital.

Finder's fees of 6% were paid in accordance with TSX Venture Exchange policies, totaling C$30,000 in cash and 120,000 common shares.

"We are pleased to welcome two new shareholders to Xali Gold and appreciate their confidence in both our team and the potential of the Pico Machay Gold Project," said Joanne Freeze, President and CEO of Xali Gold.

Pico Machay is located in the Southern Peru Epithermal Gold-Silver Belt within the Western Cordillera Andes. The project is described by the company as an advanced exploration-stage asset with a near-term production goal.

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