Xali Gold discovers higher-grade gold mineralization at Pico Machay

VANCOUVER, British Columbia, June 25, 2026 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) is pleased to report the first assay results from the recently completed underground and surface channel and rock chip sampling program (the “Program”) at its Pico Machay Gold Project (“Pico Machay” or the “Project”) in Central Peru. Channel Assay Highlights* 2.22 g/t gold (“Au”) over 45.1meters (“m”) from Underground (“UG”) Channel 1 including 4.17 g/t Au over 20.0m 1.49 g/t Au over 41.1m from UG Channel 3 NS including 3.44 g/t Au over 8.0m 4.41 g/t Au over 13.7m from UG Channel 3 EW including 6.45 g/t Au over 6.5m 2.28 g/t Au over 40.0m from Surface Channel 2 To date, the Company has received assay results for approximately 25% of the samples collected during the Program, with the remaining results expected in the coming weeks (see Table 1 and Figure 1 below). The Program included both systematic channel sampling within previously unsampled underground workings and surface rock chip sampling across areas within the resource area of Pico Machay.

Assay and ICP results have been received for 51 of 197 samples collected to date. The samples are comprised of 78 underground channel samples and 119 surface samples, collected to support the Company's efforts to validate, update and potentially upgrade the historical mineral resource estimate at Pico Machay. “We are very encouraged by these initial results,” stated Joanne Freeze, President and CEO of Xali Gold. “While channel sampling differs from drilling, the systematic nature of the Program and the ability to sample continuously across recently exposed mineralized zones provide valuable insight into the grade variation and continuity of mineralization at Pico Machay. The results received to date further