Toronto, Ontario--(Newsfile Corp. - April 13, 2021) - XAU RESOURCES INC. (TSXV: GIG.P) (the "Corporation") announces that on April 13, 2021 the TSX Venture Exchange suspended trading in the Corporation's securities as a result of a Cease Trade Order (the "CTO") issued by the Ontario Securities Commission. The CTO was issued as a result of the Corporation's failure to file its interim financial statements, management's discussion and analysis, and certificate of the foregoing filings for the period ended January 31, 2021 (the "Required Filings").

The Corporation has now filed the Required Filings and is cooperating with the TSXV's listing review process.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future business and operations of the Corporation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive applicable Board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and the Corporation disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

For further information please contact:

Gary Bay
Chief Executive Officer
Tel: 647-339-4301

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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