X-CAL Resources Ltd

Published : September 08th, 2008

Mineral Resources and Inventory

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X-Cal Resources Ltd.
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September 8, 2008
X-Cal Resources Ltd.: Mineral Resources and Inventory, Sleeper Gold Property, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2008) - X-Cal (TSX:XCL) has 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.

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 is pending and will be published within 45 days of this release.

The new block model for Sleeper has confirmed the mineralized layers described in the 2007 X-Cal Resources Ltd. Annual Report.

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. The database provided for the Sleeper resource estimate includes a total of 4,131 drill holes. Facilities contains 1,891 drill holes totaling 242,016 m. West Wood contains 437 drill holes totaling 85,194 m.

The Sleeper Gold Property area is situated within the western, apparently older, part of the Northern Nevada Rift geologic province of Miocene age, along the western flank of the Slumbering Hills. Drilling completed in 2007 has led to a new geologic interpretation of mineralization at Sleeper. Meticulous logging of the drill holes identified cobbles and occasional boulders of altered vesicular basalt supported by a matrix of cryptocrystalline volcanic ash. Further inspection identified other volcanic clasts of various lithologies supported by the ash matrix. A "block in ash" texture had been identified and the wide spread occurrence of the volcanic breccia throughout the Facilities area was referred to as a volcanic unit given the name "debris flow". The debris flow is the primary host lithology for precious metals mineralization identified at the Facilities area. Thickness of the debris flow ranges from 100 feet (30m) to 500 feet (150m). Ash layers that are interbedded within the debris flow are not mineralized but do exhibit advanced argillic alteration. The ash units range in thickness from 5 feet (1.5m) to 20 feet (6m). The debris flow dips westerly towards the existing open pit and has been identified in core at West Wood. The banded veins with visible gold (electrum) and the higher grade sulfide breccias of West Wood are developed within the debris flow. The lower grade mineralization of West Wood favors the debris flow and is similar to mineralization found at the Facilities area.

A resource estimate was commissioned by X-Cal in 2008 to determine the resource contained within the Facilities area east of the Sleeper pit and the West Wood area south west of the pit. This estimate used all available drill hole information and the current revised geologic interpretation. The Facilities area was subdivided into three geologic domains: a debris flow, tuff units and Mesozoic basement. The West Wood area was subdivided in a debris flow, tuff units and West Wood breccia unit. Examination of gold and silver grade distributions within these domains indicated a higher grade vein population in each unit and a background mineralization.

Thresholds were established in each domain to separate these different styles of mineralization. Capping levels were established for each style of mineralization in each domain. Semivariograms were used to establish directions and distances of grade continuity within each domain. Grades were estimated, for blocks 10 x 10 x 5 m in dimension, by a combination of indicator and ordinary kriging. Estimated blocks were classified as indicated or inferred based on grade continuity. The in-ground resource present at Sleeper is summarized at 0.40 g/t Au cutoff (see Table 1).

Above-ground material, containing gold and silver located in the heap leach pads and tailings at Sleeper has also been classified as resource (see Table 2).

A preliminary economic assessment has been recommended for the project, which will likely focus on the potential of higher grade "in-ground" resources and already mined "above-ground" precious metals at Sleeper, which are summarized in Table 1 and Table 2.

--------------------------------------------------------------------------
Table 1: SUMMARY OF IN-GROUND RESOURCE - SLEEPER PROJECT
--------------------------------------------------------------------------
                Au Cutoff                  Au     Ag
Classification       (g/t)      Tonnes   (g/t)  (g/t)   Ozs Au      Ozs Ag
--------------------------------------------------------------------------
Indicated            0.40   26,960,000   0.87   5.80   750,000   5,030,000
--------------------------------------------------------------------------
Inferred             0.40   20,000,000   0.59   6.60   380,000   4,240,000
--------------------------------------------------------------------------


--------------------------------------------------------------------------
Table 2: ABOVE-GROUND INFERRED RESOURCE LOCATED IN THE HEAPS
AND TAILS - SLEEPER PROJECT
--------------------------------------------------------------------------
                                    Average             Average
                 Tons                Grade        Au     Grade          Ag
AREA           Placed     tonnes      Au      Ounces      Ag        Ounces
--------------------------------------------------------------------------
                                                  Au                    Ag
                                    Au    Au  Remain-   Ag    Ag    Remain-
                                 (oz/t) (g/t)    ing (oz/t) (g/t)      ing
--------------------------------------------------------------------------
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
--------------------------------------------------------------------------
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
--------------------------------------------------------------------------
ROM North   9,484,900  8,604,645 0.010 0.347  96,110
--------------------------------------------------------------------------
Total      48,856,275 44,322,122 0.012 0.409 583,254 0.026 0.877 1,249,983
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Mill        6,600,000  5,987,481 0.020 0.679 130,666 0.224 7.671 1,476,748
 Tailings
--------------------------------------------------------------------------

--------------------------------------------------------------------------
TOTAL      55,456,275 50,309,603 0.013 0.441 713,920 0.049 1.686 2,726,731
--------------------------------------------------------------------------
 
Table 1 and table 2 summarize the current Sleeper Resource.

In-Ground MINERAL INVENTORY: Table 3 and 4

--------------------------------------------------------------------------
Table 3: SLEEPER ALL BLOCKS CLASSED INDICATED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20        84,310,000      0.465        4.89     1,260,000     13,260,000
--------------------------------------------------------------------------
0.30        45,470,000      0.654        5.38       960,000      7,870,000
--------------------------------------------------------------------------
0.40        26,960,000      0.868        5.80       750,000      5,030,000
--------------------------------------------------------------------------
0.50        18,040,000      1.077        6.39       620,000      3,710,000
--------------------------------------------------------------------------
0.60        13,250,000      1.269        7.01       540,000      2,990,000
--------------------------------------------------------------------------
0.70        10,230,000      1.453        7.67       480,000      2,520,000
--------------------------------------------------------------------------
0.80         8,000,000      1.650        8.40       420,000      2,160,000
--------------------------------------------------------------------------
0.90         6,340,000      1.859        8.84       380,000      1,801,000
--------------------------------------------------------------------------
1.00         5,190,000      2.062        9.47       340,000      1,581,000
--------------------------------------------------------------------------
1.10         4,320,000      2.266       10.16       315,000      1,411,000
--------------------------------------------------------------------------
1.20         3,670,000      2.466       10.82       291,000      1,277,000
--------------------------------------------------------------------------
1.30         3,250,000      2.623       11.27       274,000      1,178,000
--------------------------------------------------------------------------
1.40         2,860,000      2.796       11.75       257,000      1,081,000
--------------------------------------------------------------------------
1.50         2,550,000      2.961       12.00       243,000        984,000
--------------------------------------------------------------------------
1.60         2,290,000      3.123       12.22       230,000        900,000
--------------------------------------------------------------------------
1.70         2,040,000      3.301       12.70       217,000        833,000
--------------------------------------------------------------------------
1.80         1,830,000      3.479       13.19       205,000        776,300
--------------------------------------------------------------------------
1.90         1,660,000      3.650       13.52       195,000        721,500
--------------------------------------------------------------------------
2.00         1,510,000      3.812       13.90       185,000        674,600
--------------------------------------------------------------------------


--------------------------------------------------------------------------
Table 4: SLEEPER ALL BLOCKS CLASSED INFERRED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20       117,710,000      0.328        5.68     1,240,000     21,480,000
--------------------------------------------------------------------------
0.30        50,600,000      0.437        6.17       710,000     10,040,000
--------------------------------------------------------------------------
0.40        20,000,000      0.587        6.60       380,000      4,240,000
--------------------------------------------------------------------------
0.50         8,820,000      0.770        7.46       220,000      2,110,000
--------------------------------------------------------------------------
0.60         4,950,000      0.949        7.39       150,000      1,180,000
--------------------------------------------------------------------------
0.70         2,960,000      1.152        7.68       110,000        730,000
--------------------------------------------------------------------------
0.80         1,560,000      1.520        7.87        80,000        390,000
--------------------------------------------------------------------------
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
--------------------------------------------------------------------------
1.10           710,000      2.277        6.02        52,000        138,000
--------------------------------------------------------------------------
1.20           630,000      2.428        6.32        49,000        128,000
--------------------------------------------------------------------------
1.30           570,000      2.552        6.65        47,000        122,000
--------------------------------------------------------------------------
1.40           510,000      2.684        7.04        44,000        115,000
--------------------------------------------------------------------------
1.50           480,000      2.765        7.26        43,000        112,000
--------------------------------------------------------------------------
1.60           430,000      2.902        7.42        40,000        103,000
--------------------------------------------------------------------------
1.70           390,000      3.047        7.35        38,000         92,000
--------------------------------------------------------------------------
1.80           360,000      3.161        7.55        37,000         87,300
--------------------------------------------------------------------------
1.90           340,000      3.234        7.70        35,000         84,100
--------------------------------------------------------------------------
2.00           310,000      3.324        7.60        33,000         75,800
--------------------------------------------------------------------------
 
The overall mineral inventory figures for the Sleeper Gold Property are contained in Table 2, Table 3 and Table 4, consisting of in-ground indicated and in-ground inferred resource, in combination with the above-ground inferred resource.

SUMMARY

The Sleeper resource merits preliminary economic assessment.

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

The pending NI-43-101 technical report will provide additional detail on the methods of calculation, quality control and references.

The pending report also documents the Sleeper mineral system, priority drill targets and includes comprehensive information as required by NI-43-101. The resource occurs within a portion of the 30 square mile district scale property.

A detailed breakdown of the in-ground resource is provided as "Schedule A" to this release.

The contents of this release have been reviewed by Gary H. Giroux, who is an independent resource estimate consultant, 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.

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.

(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.

To view the Sleeper Gold Project Mine Site Area, Sleeper Gold Resource Illustration and Sleeper Silver Resource Illustation please click on the following link: http://media3.marketwire.com/docs/xcl98ms2.pdf.

SCHEDULE A:

The Sleeper Mineral Inventory consists of all blocks classified indicated and inferred and the above-ground inferred resource in the heap leach pads and tailings.

A detailed description of the above-ground resource will be provided as an appendix in the pending NI-43-101 technical report.

Definitions of the various resource categories are also contained in the pending technical report.

The in-ground resource can be subdivided into the two principal zones: "Facilities" which might be extractable by open pit methods and "West Wood" which would likely require underground methods:

FACILITIES

(ALL BLOCKS CLASSED INDICATED AND INFERRED)

--------------------------------------------------------------------------
FACILITIES ALL BLOCKS CLASSED INDICATED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20        49,210,000      0.355       6.077       560,000      9,610,000
--------------------------------------------------------------------------
0.30        21,460,000      0.501       7.053       350,000      4,870,000
--------------------------------------------------------------------------
0.40        10,000,000      0.686       7.835       220,000      2,520,000
--------------------------------------------------------------------------
0.50         5,740,000      0.866       8.392       160,000      1,550,000
--------------------------------------------------------------------------
0.60         3,610,000      1.055       9.010       120,000      1,050,000
--------------------------------------------------------------------------
0.70         2,470,000      1.245       9.709       100,000        770,000
--------------------------------------------------------------------------
0.80         1,800,000      1.430      10.054        80,000        580,000
--------------------------------------------------------------------------
0.90         1,210,000      1.714       9.722        70,000        378,000
--------------------------------------------------------------------------
1.00           920,000      1.952       9.703        60,000        287,000
--------------------------------------------------------------------------


--------------------------------------------------------------------------
FACILITIES ALL BLOCKS CLASSED INFERRED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20       113,890,000      0.330       5.801     1,210,000     21,240,000
--------------------------------------------------------------------------
0.30        49,770,000      0.437       6.239       700,000      9,980,000
--------------------------------------------------------------------------
0.40        19,600,000      0.587       6.682       370,000      4,210,000
--------------------------------------------------------------------------
0.50         8,620,000      0.772       7.576       210,000      2,100,000
--------------------------------------------------------------------------
0.60         4,820,000      0.954       7.530       150,000      1,170,000
--------------------------------------------------------------------------
0.70         2,930,000      1.154       7.748       110,000        730,000
--------------------------------------------------------------------------
0.80         1,540,000      1.525       7.954        80,000        390,000
--------------------------------------------------------------------------
0.90         1,000,000      1.898       7.485        60,000        241,000
--------------------------------------------------------------------------
1.00           800,000      2.137       6.274        50,000        161,000
--------------------------------------------------------------------------
 
WEST WOOD

(ALL BLOCKS CLASSED INDICATED AND INFERRED)

--------------------------------------------------------------------------
WEST WOOD ALL BLOCKS CLASSED INDICATED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20        35,100,000      0.618       3.229       700,000      3,640,000
--------------------------------------------------------------------------
0.30        24,000,000      0.790       3.888       610,000      3,000,000
--------------------------------------------------------------------------
0.40        16,960,000      0.975       4.607       530,000      2,510,000
--------------------------------------------------------------------------
0.50        12,290,000      1.176       5.456       460,000      2,160,000
--------------------------------------------------------------------------
0.60         9,640,000      1.349       6.261       420,000      1,940,000
--------------------------------------------------------------------------
0.70         7,770,000      1.519       7.021       380,000      1,750,000
--------------------------------------------------------------------------
0.80         6,200,000      1.714       7.926       340,000      1,580,000
--------------------------------------------------------------------------
0.90         5,130,000      1.894       8.626       310,000      1,423,000
--------------------------------------------------------------------------
1.00         4,270,000      2.086       9.423       290,000      1,294,000
--------------------------------------------------------------------------
1.50         2,090,000      3.013      12.868       202,000        865,000
--------------------------------------------------------------------------
2.00         1,200,000      3.977      15.674       153,000        604,700
--------------------------------------------------------------------------
2.50           780,000      4.925      17.962       124,000        450,400
--------------------------------------------------------------------------
3.00           600,000      5.572      18.574       107,000        358,300
--------------------------------------------------------------------------
3.50           470,000      6.222      19.241        94,000        290,700
--------------------------------------------------------------------------
4.00           390,000      6.743      21.558        85,000        270,300
--------------------------------------------------------------------------


--------------------------------------------------------------------------
WEST WOOD ALL BLOCKS CLASSED INFERRED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20         3,820,000      0.280       2.003        30,000        250,000
--------------------------------------------------------------------------
0.30           830,000      0.446       2.062        10,000         60,000
--------------------------------------------------------------------------
0.40           390,000      0.563       2.311        10,000         30,000
--------------------------------------------------------------------------
0.50           200,000      0.674       2.373         4,300         15,300
--------------------------------------------------------------------------
0.60           130,000      0.744       2.264         3,100          9,500
--------------------------------------------------------------------------
0.70            40,000      1.017       2.088         1,300          2,700
--------------------------------------------------------------------------
0.80            20,000      1.194       2.070           800          1,300
--------------------------------------------------------------------------
0.90            13,000      1.452       2.004           600            800
--------------------------------------------------------------------------
1.00            11,000      1.524       1.988           500            700
--------------------------------------------------------------------------
1.50             2,700      3.025       0.290           260             30
--------------------------------------------------------------------------
2.00             2,700      3.025       0.290           260             30
--------------------------------------------------------------------------
2.50             1,300      4.001       0.370           170             20
--------------------------------------------------------------------------
3.00             1,300      4.001       0.370           170             20
--------------------------------------------------------------------------
 
The resource figures can be further divided and tabulated with respect to the oxide/sulphide boundary:

FACILITIES-OXIDE RESOURCE (INDICATED and INFERRED)

--------------------------------------------------------------------------
FACILITIES - OXIDE RESOURCE
--------------------------------------------------------------------------

--------------------------------------------------------------------------
FACILITIES ALL OXIDE BLOCKS CLASSED INDICATED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20         9,660,000      0.349       5.226       110,000      1,620,000
--------------------------------------------------------------------------
0.30         4,160,000      0.492       6.770        70,000        910,000
--------------------------------------------------------------------------
0.40         2,110,000      0.637       8.187        40,000        560,000
--------------------------------------------------------------------------
0.50         1,190,000      0.789       8.870        30,000        340,000
--------------------------------------------------------------------------
0.60           710,000      0.949       9.054        20,000        210,000
--------------------------------------------------------------------------
0.70           440,000      1.134       9.939        20,000        140,000
--------------------------------------------------------------------------
0.80           310,000      1.309      11.167        10,000        110,000
--------------------------------------------------------------------------
0.90           230,000      1.472      10.998        10,000         81,000
--------------------------------------------------------------------------
1.00           170,000      1.637      11.339        10,000         62,000
--------------------------------------------------------------------------


--------------------------------------------------------------------------
FACILITIES ALL OXIDE BLOCKS CLASSED INFERRED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20        20,670,000      0.344       5.525       230,000      3,670,000
--------------------------------------------------------------------------
0.30         9,760,000      0.454       6.613       140,000      2,080,000
--------------------------------------------------------------------------
0.40         4,280,000      0.596       8.122        80,000      1,120,000
--------------------------------------------------------------------------
0.50         1,910,000      0.786      10.205        50,000        630,000
--------------------------------------------------------------------------
0.60           930,000      1.041      11.629        30,000        350,000
--------------------------------------------------------------------------
0.70           470,000      1.433      13.011        20,000        200,000
--------------------------------------------------------------------------
0.80           280,000      1.897      14.528        20,000        130,000
--------------------------------------------------------------------------
0.90           220,000      2.199      12.626        20,000         89,000
--------------------------------------------------------------------------
1.00           170,000      2.574       8.867        10,000         48,000
--------------------------------------------------------------------------
 
SULPHIDE RESOURCE INDICATED AND INFERRED

--------------------------------------------------------------------------
FACILITIES AND WEST WOOD - SULPHIDE RESOURCE
--------------------------------------------------------------------------

--------------------------------------------------------------------------
FACILITIES AND WEST WOOD ALL SULPHIDE BLOCKS CLASSED INDICATED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20        74,650,000      0.480       4.848     1,150,000     11,640,000
--------------------------------------------------------------------------
0.30        41,310,000      0.670       5.242       890,000      6,960,000
--------------------------------------------------------------------------
0.40        24,850,000      0.887       5.602       710,000      4,480,000
--------------------------------------------------------------------------
0.50        16,850,000      1.097       6.216       590,000      3,370,000
--------------------------------------------------------------------------
0.60        12,540,000      1.287       6.894       520,000      2,780,000
--------------------------------------------------------------------------
0.70         9,790,000      1.467       7.566       460,000      2,380,000
--------------------------------------------------------------------------
0.80         7,690,000      1.664       8.294       410,000      2,050,000
--------------------------------------------------------------------------
0.90         6,120,000      1.874       8.755       370,000      1,723,000
--------------------------------------------------------------------------
1.00         5,020,000      2.077       9.409       340,000      1,519,000
--------------------------------------------------------------------------


--------------------------------------------------------------------------
FACILITIES AND WEST WOOD ALL SULPHIDE BLOCKS CLASSED INFERRED
--------------------------------------------------------------------------
                Tonnes
Au             greater
Cutoff     than Cutoff                Grade greater than Cutoff
--------------------------------------------------------------------------
(g/t)          (tonnes)   Au (g/t)    Ag (g/t)    Ounces Au      Ounces Ag
--------------------------------------------------------------------------
0.20        97,040,000      0.324       5.710     1,010,000     17,810,000
--------------------------------------------------------------------------
0.30        40,840,000      0.433       6.065       570,000      7,960,000
--------------------------------------------------------------------------
0.40        15,720,000      0.584       6.180       300,000      3,120,000
--------------------------------------------------------------------------
0.50         6,910,000      0.765       6.698       170,000      1,490,000
--------------------------------------------------------------------------
0.60         4,010,000      0.927       6.406       120,000        830,000
--------------------------------------------------------------------------
0.70         2,490,000      1.099       6.670        90,000        530,000
--------------------------------------------------------------------------
0.80         1,280,000      1.437       6.404        60,000        260,000
--------------------------------------------------------------------------
0.90           790,000      1.808       5.976        50,000        152,000
--------------------------------------------------------------------------
1.00           640,000      2.012       5.515        40,000        113,000
--------------------------------------------------------------------------
 
ABOVE-GROUND INFERRED RESOURCE

Table # 2 of the press release describes the above-ground inferred resource. The portion of the above-ground resource which is contained in the heap leach pads at Sleeper is believed to be largely oxide material, further metallurgical work will be required to confirm the oxide content of the heaps.

The preliminary economic assessment will likely focus on the potential for renewed heap leach operations at Sleeper using all ready mined material located in the heap leach pads in combination with material from the adjacent Facilities area.

MINERAL INVENTORY

The complete mineral inventory for Sleeper is contained in Table #2, Table # 3 and Table # 4 of the press release. Investors are cautioned that the inventory does not imply economics and is presented for the purpose of guiding on going work.

A preliminary economic assessment has been recommended and will likely focus on the potential of higher-grade material within the inventory.

(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.

CONTACT INFORMATION:

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

INDUSTRY: Manufacturing and Production - Mining and Metals

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X-CAL Resources Ltd

CODE : XCL.TO
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X-CAL Resources is a exploration company based in Canada.

X-CAL Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 28.5 millions as of today (US$ 28.4 millions, € 22.1 millions).

Its stock quote reached its highest recent level on December 31, 2003 at CA$ 1.15, and its lowest recent point on December 05, 2008 at CA$ 0.02.

X-CAL Resources has 167 588 000 shares outstanding.

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Corporate Presentations of X-CAL Resources Ltd
10/5/2009The Sleeper Gold project may be kissed awake and back into p...
Financings of X-CAL Resources Ltd
6/11/2009Warrants Exercised
Financials of X-CAL Resources Ltd
7/28/2009First Quarter Financial Statements Filed and Update
Project news of X-CAL Resources Ltd
3/8/2010(Sleeper)Addition of a Development Team Is Next for Sleeper
11/25/2009(Sleeper) Preliminary economic assessment filed to Sedar - Sleeper Go...
10/20/2009(Sleeper)Sleeper PEA - October 19th 2009
10/19/2009(Sleeper)NI 43-101 Preliminary Economic Assessment of the Sleeper Gol...
10/14/2009(Sleeper)Mineral resources and inventory - Sleeper Gold property, Nev...
8/19/2009(Sleeper)Exploration Potential of Sleeper project: an update - by Dr....
8/19/2009(Sleeper)Dr. Sillitoe Updates Sleeper Gold Project
9/26/2008(Sleeper)Files New NI 43-101 Report for Sleeper
9/8/2008(Sleeper)Mineral Resources and Inventory
5/1/2008(Sleeper) Schedule for Sleeper Mineral Inventory
Corporate news of X-CAL Resources Ltd
8/23/2010Shareholder Vote Approves Plan of Arrangement with Paramount
7/19/2010Mailing to Shareholders
6/23/2010Paramount Gold and Silver Corp. Acquires X-Cal Resources Ltd...
9/28/2009Results of the X-Cal annual Meeting
9/10/2009New X-Cal Website: Paper by Dr. Sillitoe featured
2/17/2009Update and Q3 Financials Filed
12/23/2008Sale of Royalty to Ken Snyder Gold Syndicate
12/1/2008 Open Letter to Shareholders
9/29/2008Results of Annual Meeting
9/12/2008 Message to Shareholders
6/20/2008Renewals Completed on All Nevada Mineral Claims, Mineral In...
3/26/2008 Mining Companies Downloading Current Sleeper Data
2/14/2008Q3 Financials, MD&A Filed and Update
1/9/2008 2008 Priorities and Update
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TORONTO (XCL.TO)Other OTC (XCASF)
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