Xtra-Gold Reports Q1 2025 Financials and CEO Update

Rhea-AI Summary

Xtra-Gold Resources (TSX: XTG) (OTCQB: XTGRF) has released its Q1 2025 unaudited financial results, reporting total assets of $16.18 million, primarily consisting of cash, liquid securities, and gold inventory. The company achieved a total income of $2.11 million and net income after tax of $1.41 million for the quarter.

The company maintains a strong financial position with zero debt and is actively pursuing resource expansion through aggressive drilling operations using three diamond drill rigs. CEO James Longshore emphasized that the company has already made a significant gold discovery and is fully funded to execute its business plan without requiring dilutive public market equity raises.

[ "Strong Q1 2025 financial performance with $2.11M total income and $1.41M net income", "Healthy balance sheet with $16.18M in total assets and zero debt", "Active drilling program with three diamond drill rigs for resource expansion", "No need for dilutive equity financing due to strong cash position" ]

Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Xtra-Gold Resources Corp. (TSX: XTG) (OTCQB: XTGRF) ("Xtra-Gold" or the "Company") is pleased to provide the following summary of the unaudited Financials ending March 31, 2025:

-Total Assets of US$16,181,084 comprised mainly of cash, liquid securities, and gold inventory ("Liquid Assets");

- Zero Debt;

-Total Income for the quarter of US$2,107,256; and

-Net Income (after tax) of US$1,405,656.

The full details of the Quarterly Financials with MD&A can be viewed on the Company's website at www.xtragold.com.

James Longshore, CEO/Co-Founder states: "Our Company has already made a significant gold discovery. Our exploration team is currently aggressively drilling with our three diamond drill rigs, with the goal of significantly expanding our resource. We are fully funded to execute our business plan, and do not require any equity raises from the public markets which would dilute our shareholders."

About Xtra-Gold Resources Corp.

Xtra-Gold is a gold exploration company with a substantial land position totaling 226 square kilometers in the Kibi Gold Belt. The Kibi Gold Belt is geologically analogous and in close proximity to the world famous Ashanti Gold Belt, which is one of the most highly endowed gold belts in the world with estimated gold resource of over 130 million ounces. Our company is the best positioned explorer to make the next major gold discovery in Ghana.

Forward-Looking Statements

The TSX does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward- looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Contact Information

For further information please contact:

James Longshore
Chief Executive Officer
Tel.: 242-363-3864
E-mail: info@xtragold.com
Website: www.xtragold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251921

FAQ

What are Xtra-Gold Resources (XTGRF) Q1 2025 financial results?

In Q1 2025, Xtra-Gold reported total assets of $16.18M, total income of $2.11M, and net income after tax of $1.41M, with zero debt.

How many drill rigs does Xtra-Gold (XTGRF) currently operate?

Xtra-Gold is currently operating three diamond drill rigs for its resource expansion program.

Does Xtra-Gold (XTGRF) plan to raise capital through equity markets?

No, according to CEO James Longshore, the company is fully funded to execute its business plan and does not require equity raises from public markets.

What are the main components of Xtra-Gold's (XTGRF) total assets?

Xtra-Gold's total assets of $16.18M are primarily composed of cash, liquid securities, and gold inventory.