X-Cal Resources Ltd.: Mineral Resources and Inventory

Sleeper Gold Property, Nevada

• Press Release
• Source: X-Cal Resources Ltd.
• On 8:00 am EDT, Wednesday October 14, 2009

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2009) - X-Cal Resources Ltd. (TSX:XCL - News) - Higher gold prices have resulted in requests for a re-release of the resource figures for Sleeper, highlighting the gold and silver resources at lower cut-off grades.

Related Quotes

Symbol	Price	Change
XCL.TO	0.23	+0.02

{"s" : "xcl.to","k" : "c10,l10,p20,t10","o" : "","j" : ""}

X-Cal received an independent resource calculation and mineral inventory from Giroux Consultants Limited of Vancouver, BC for the Sleeper Gold Property (100% X-Cal), located in Humboldt County, Nevada in the form of a comprehensive NI 43-101 technical report authored by Gary H. Giroux, MA.Sc., P.Eng, and co-authored by Larry Kornze, P.Eng, and Larry G. Martin, CPG, in September of 2008.

The release of the above report highlighted gold and silver resources at 0.4 gram per ton cut-off. A number of Nevada gold companies have recently published their resource figures highlighting their inventories at 0.2 gram cut-off.

The following re-release highlights the lower cut-off grade resources(i) at Sleeper.

The current gold and silver resources at Sleeper are summarized in Table 1, Table 2 and Table 3 and attached graphics.

In-Ground MINERAL INVENTORY: Table 1 and 2

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Table 1: SLEEPER ALL BLOCKS CLASSED INDICATED
 
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             Tonnes greater                Grade greater
Au Cutoff     than Cutoff                   than Cutoff
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(g/t)             (tonnes)    Au (g/t)  Ag (g/t)   Ounces Au    Ounces Ag
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(i) 0.20       84,310,000       0.465      4.89    1,260,000   13,260,000
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0.30           45,470,000       0.654      5.38      960,000    7,870,000
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0.40           26,960,000       0.868      5.80      750,000    5,030,000
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0.50           18,040,000       1.077      6.39      620,000    3,710,000
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0.60           13,250,000       1.269      7.01      540,000    2,990,000
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0.70           10,230,000       1.453      7.67      480,000    2,520,000
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0.80            8,000,000       1.650      8.40      420,000    2,160,000
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0.90            6,340,000       1.859      8.84      380,000    1,801,000
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1.00            5,190,000       2.062      9.47      340,000    1,581,000
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1.10            4,320,000       2.266     10.16      315,000    1,411,000
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1.20            3,670,000       2.466     10.82      291,000    1,277,000
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1.30            3,250,000       2.623     11.27      274,000    1,178,000
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1.40            2,860,000       2.796     11.75      257,000    1,081,000
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1.50            2,550,000       2.961     12.00      243,000      984,000
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1.60            2,290,000       3.123     12.22      230,000      900,000
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1.70            2,040,000       3.301     12.70      217,000      833,000
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1.80            1,830,000       3.479     13.19      205,000      776,300
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1.90            1,660,000       3.650     13.52      195,000      721,500
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2.00            1,510,000       3.812     13.90      185,000      674,600
-------------------------------------------------------------------------
 
 
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Table 2: SLEEPER ALL BLOCKS CLASSED INFERRED
 
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           Tonnes greater                  Grade greater
Au Cutoff     than Cutoff                   than Cutoff
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(g/t)             (tonnes)    Au (g/t)  Ag (g/t)   Ounces Au    Ounces Ag
-------------------------------------------------------------------------
(i) 0.20      117,710,000       0.328      5.68    1,240,000   21,480,000
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0.30           50,600,000       0.437      6.17      710,000   10,040,000
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0.40           20,000,000       0.587      6.60      380,000    4,240,000
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0.50            8,820,000       0.770      7.46      220,000    2,110,000
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0.60            4,950,000       0.949      7.39      150,000    1,180,000
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0.70            2,960,000       1.152      7.68      110,000      730,000
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0.80            1,560,000       1.520      7.87       80,000      390,000
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0.90            1,010,000       1.893      7.42       60,000      241,000
-------------------------------------------------------------------------
1.00              810,000       2.129      6.22       60,000      162,000
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1.10              710,000       2.277      6.02       52,000      138,000
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1.20              630,000       2.428      6.32       49,000      128,000
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1.30              570,000       2.552      6.65       47,000      122,000
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1.40              510,000       2.684      7.04       44,000      115,000
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1.50              480,000       2.765      7.26       43,000      112,000
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1.60              430,000       2.902      7.42       40,000      103,000
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1.70              390,000       3.047      7.35       38,000       92,000
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1.80              360,000       3.161      7.55       37,000       87,300
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1.90              340,000       3.234      7.70       35,000       84,100
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2.00              310,000       3.324      7.60       33,000       75,800
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Table 3: ABOVE-GROUND INFERRED RESOURCE LOCATED IN THE HEAPS AND TAILS -
          SLEEPER PROJECT
 
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              Tons            Average Grade           Average Grade
AREA        Placed     Tonnes      Au      Au Ounces       Ag      Ag Ounces
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                                 Au    Au         Au    Ag     Ag         Ag
                              (oz/t) (g/t) Remaining (oz/t)  (g/t) Remaining
----------------------------------------------------------------------------
Pad 1    7,595,860  6,890,919 0.015 0.501    110,935
----------------------------------------------------------------------------
Pad 2    5,981,701  5,426,564 0.012 0.411     71,646
----------------------------------------------------------------------------
Pad 3   12,581,794 11,414,129 0.012 0.417    152,932
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Pad 4    9,084,620  8,241,513 0.012 0.419    111,046
----------------------------------------------------------------------------
ROM
South    4,127,400  3,744,353 0.010 0.337     40,584
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ROM
North    9,484,900  8,604,645 0.010 0.347     96,110
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Total   48,856,275 44,322,122 0.012 0.409    583,254 0.026  0.877  1,249,983
----------------------------------------------------------------------------
 
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Mill
Tailings 6,600,000  5,987,481 0.020 0.679    130,666 0.224  7.671  1,476,748
----------------------------------------------------------------------------
 
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TOTAL   55,456,275 50,309,603 0.013 0.441    713,920 0.049  1.686  2,726,731
----------------------------------------------------------------------------
 

The in-ground resources for the project are located in the Facilities Area, east of the Sleeper Pit and in the West Wood Area, south west of the pit, in the mine site area of the Property (See Attached Graphics).

Facilities contains 1,891 drill holes totaling 242,016 m. West Wood contains 437 drill holes totaling 85,194 m. (see Tables 1 and 2).

Above-ground material, containing gold and silver located in the heap leach pads and tailings at Sleeper is also classified as resource (see Table 3).

Investors are cautioned that the mineral resource figures do not imply economics and are presented for the purpose of inventory and for guiding ongoing work.

A preliminary economic assessment is in progress for Sleeper which will likely focus on the potential of higher grade "in-ground" resources and already mined "above-ground" precious metals within the inventory.

SUMMARY

A Preliminary Economic assessment of the Sleeper resources is pending.

The attached graphics should assist with visualization of the Sleeper Gold and Silver Resource.

The September 2008 NI 43-101 technical report contains detail on the methods of calculation, quality control and references and is available at www.x-cal.com.

The report also documents priority drill targets and includes comprehensive information as required by NI 43-101.

The Sleeper resource occurs within a portion of the 30 square mile district scale property.

The contents of this release have been reviewed by Larry Kornze, P.Eng, and Larry G. Martin, CPG, who are "Qualified Persons" as defined by NI 43-101. Mr. Kornze is a director of X-Cal and Mr. Martin is X-Cal's Senior Geologist.

Quality control and data verification consistent with good industry practice, including use of accredited labs for assays, insertion of standards and check assays have been completed and are documented in detail in the pending NI 43-101 technical report. Drill data attributable to Amax and Placer Dome, which preceded NI 43-101, does not have documentation for sample preparation, bagging, security, and transportation practices. However, summary data sheets and summary reports prepared by these companies and by the analytical labs are available.

See Inventory Graphics (http://media3.marketwire.com/docs/xcal1013.pdf) and caveats.

(1) Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated and Inferred Resources: This press release uses the terms "measured", "indicated" and "inferred" "resources." We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable.

Caution Concerning Forward-Looking Statements

This 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, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area 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, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area 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, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area 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 Ltd. and X-Cal USA, Inc. undertake no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

Shawn Kennedy
X-Cal Resources Ltd.
President
(604) 662-8245
(604) 688-7740 (FAX)
invrel@x-cal.com
www.x-cal.com