Xtra-Gold Reports Q2 2026 Financial Results and CEO Update

Rhea-AI Summary

Xtra-Gold (OTCQB: XTGRF, TSX: XTG) reported unaudited financial results for the three months ended June 30, 2026, including total assets of US$20.6 million, primarily liquid assets, and zero debt. Q2 2026 total income from other items was US$2.04 million, and net income after tax for Q1 2026 was US$1.20 million. CEO James Longshore said net income for the first six months of 2026 exceeded US$2.4 million and highlighted ongoing drilling at the Kibi Gold Project in Ghana, where the company holds 226 km² of exploration ground.

Positive

• Total assets US$20.6 million, primarily liquid assets, as of June 30, 2026
• Zero debt on the balance sheet as reported for Q2 2026
• Total income from other items US$2.04 million in Q2 2026
• Net income after tax US$1.20 million for Q1 2026
• More than US$2.4 million net income generated in the first six months of 2026
• 226 km² land position in the Kibi Gold Belt, Ghana

Negative

• None.

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Toronto, Ontario--(Newsfile Corp. - August 12, 2026) - Xtra-Gold Resources Corp. (TSX: XTG) (OTCQB: XTGRF) ("Xtra-Gold" or the "Company") is pleased to provide a summary of its unaudited financial results for the three-month period ended June 30, 2026:

• Total Assets: US$20,605,756, comprised primarily of cash, marketable securities, and gold inventory ("Liquid Assets");
• Zero Debt;
• Total Income from Other Items (Q2 2026): US$2,043,452; and
• Net Income after tax (Q1 2026): US$1,201,182.

The full Quarterly Financial Statements and Management Discussion & Analysis ("MD&A") are available on the Company's website at www.xtragold.com.

CEO Commentary

James Longshore, CEO and Co-Founder, stated:

"For the first six months of the year, Xtra-Gold generated more than $2.4 million in net income, making us truly unique among gold exploration companies by generating our own "cash flow model." Our fleet of company-owned drill rigs are currently targeting several new high-grade gold shoots, with the goal to significantly expand our resource. The Kibi Gold Project continues to demonstrate strong potential to become the next multi-million-ounce gold discovery in Ghana."

About Xtra-Gold Resources Corp.

Xtra-Gold Resources Corp. is a gold exploration company with a substantial land position totaling 226 square kilometers in the Kibi Gold Belt of Ghana, West Africa. The Kibi Gold Belt is geologically similar and in close proximity to the world-renowned Ashanti Gold Belt, which hosts an estimated 130 million ounces of gold resources.

With an established land position, strong financial footing, and experienced technical team, Xtra-Gold is strategically positioned 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/309307

FAQ

What were Xtra-Gold (XTGRF) key financial results for Q2 2026?

Xtra-Gold reported total assets of US$20.6 million, primarily liquid assets, and zero debt for the period ended June 30, 2026. According to Xtra-Gold, Q2 2026 total income from other items was US$2.04 million on an unaudited basis.

How much net income did Xtra-Gold (XTGRF) generate in early 2026?

According to Xtra-Gold, net income after tax for Q1 2026 was US$1.20 million. The CEO further stated that the company generated more than US$2.4 million in net income during the first six months of 2026.

Does Xtra-Gold (XTGRF) have any debt as of Q2 2026?

Xtra-Gold reported having zero debt as part of its unaudited financial results for the three-month period ended June 30, 2026. According to Xtra-Gold, its assets are primarily cash, marketable securities, and gold inventory, supporting a debt-free balance sheet.

What are Xtra-Gold (XTGRF) main assets and liquidity position in Q2 2026?

According to Xtra-Gold, total assets were US$20,605,756 at June 30, 2026, comprised mainly of cash, marketable securities, and gold inventory. This composition indicates a high proportion of liquid assets alongside a reported zero-debt capital structure.

What is the Kibi Gold Project and land position of Xtra-Gold (XTGRF)?

Xtra-Gold operates the Kibi Gold Project in Ghana’s Kibi Gold Belt with a land position of 226 square kilometers. According to Xtra-Gold, this belt is geologically similar and close to the Ashanti Gold Belt, which hosts large gold resources.

How is Xtra-Gold (XTGRF) funding exploration activities in 2026?

According to Xtra-Gold, the company has generated more than US$2.4 million in net income in the first half of 2026 and operates company-owned drill rigs. Management describes this as creating its own “cash flow model” to support ongoing exploration at Kibi.

Where can investors find Xtra-Gold (XTGRF) full Q2 2026 financial statements?

Investors can access the full unaudited Quarterly Financial Statements and MD&A for the period ended June 30, 2026 on Xtra-Gold’s website. According to Xtra-Gold, these documents provide detailed financial and operational information beyond the summarized results.