Xali Gold Corp. provides an update on the Pico Machay Gold Project in Peru, acquired in December 2025, with historical resources based on a long-term gold price of US$700 per ounce. The company aims to advance the project into development, updating the historical resource estimate and engaging with the Santa Ana community.

Activities underway include relogging drilling data, reconstructing the geological model, and negotiating a Land Access Agreement with the Santa Ana community. Plans for 2026 include sampling new underground workings, drilling to verify grades, and acquiring permits for exploration and resource expansion.

Pico Machay, located in a productive mining district in Peru, has a Historical Measured and Indicated Resource of 264,600 ounces of gold and an Inferred Resource of 446,000 ounces. The project shows strong upside potential with untested exploration targets and historical engineering studies indicating a low-cost operation.

Xali Gold remains committed to responsible community engagement and sustainable development. The company’s focus is on advancing the Pico Machay project towards production, with potential for future resource upgrades and economic viability. Technical information is available in a recent technical report by a Qualified Person, Joanne C. Freeze.

Forward-looking statements in Xali Gold’s press release caution investors about risks and uncertainties related to exploration, project development, funding, mineral resources, regulatory approvals, and market conditions. While the company believes in the reasonableness of its forward-looking statements, actual results may differ due to various factors. Xali Gold remains dedicated to updating stakeholders on any developments and revisions in accordance with applicable securities laws.

Read more at GlobeNewswire: Xali Gold Positions Pico Machay Gold Project to Reactivate