FACT SHEET REQUEST

XtraGold

 

Toronto, Ontario - June 29, 2011 – Xtra-Gold Resources Corp. (“Xtra” or the “Company”) TSX: “XTG”; OTCBB: “XTGR”, is pleased to report that field preparations are underway for its aggressive Q3 2011 exploration programs designed to fully maximize the discovery potential on its wholly-owned Kibi Gold Project, located in the Kibi – Winneba greenstone belt (“Kibi Gold Belt”), in Ghana, West Africa. The Company is further pleased to announce it has received gross proceeds of US$1,238,575 in connection with the exercise of an aggregate of 1,045,050 common stock purchase warrants in the 2nd Quarter of 2011.

The comprehensive and systematic field programs will include a combination of follow-up work to define drill targets on untested gold-in-soil and Induced Polarization (IP) anomalies lying along the approximately 5.5 km long Kibi Project gold trend located along the north-western margin of the Apapam Mining Lease; as well as first pass, grassroots exploration covering the south-eastern portion (70%) of the concession, and the contiguous Akim Apapam Reconnaissance License. The multi-faceted work programs, including first pass (200m x 25m) and in-fill (100m x 25m) soil sampling, geological mapping and prospecting, hand auger sampling, and mechanized trenching, will also permit the prioritization and definition of geophysical anomalies produced by the recently completed, detail 100 m line-spacing, airborne Versatile Time Domain Electromagnetic (VTEM), magnetic, and radiometric survey over the Apapam property area.

Paul Zyla, President and CEO, commented, “To date only approximately 15% of the existing Kibi Gold Project soil geochemistry / IP survey grid, covering approximately 30% of the 33.65 km2 Apapam Mining Lease, has been subjected to follow-up work; with the ongoing 20,000 m drill program focused on Zone 2 of the Kibi Gold Project only representing approximately 3% of the total concession area. Limited trenching and scout drilling outside Zone 2 has traced the granitoid–hosted gold mineralization over an approximately 2,100 metre distance along the approximately 5.5 km NE – trending Kibi Gold Trend. In combination with our recently completed VTEM/Mag/Radiometric survey these target generation/definition programs will enable Xtra to further define known gold occurrences outside Zone 2, and evaluate the remainder of this very prospective land position for the hosting of granitoid-hosted and Ashanti style shear zone gold mineralization.”

Line cutting for the Apapam South control grid, to be followed by soil sampling, commenced on June 13, 2011. Hand auger sampling and mechanized trenching will follow-up on untested gold-in-soil and IP anomalies on the existing Kibi Gold Project grid and is expected to start by the end of the month. These target generation/definition work programs are scheduled to be implemented concurrently over the next two to three months; with arrangements currently in progress for the booking of a second diamond drill rig to start testing high priority targets towards the end of the 3rd Quarter, 2011.

Regional government mapping indicates that the Apapam South / Akim Apapam soil geochemistry survey area covers highly prospective terrain for the hosting of Ashanti style shear zone gold mineralization in the form of two major Birimian unit contacts, including the contact between an extensive metavolcanic rock sequence, forming the core of the Kibi greenstone belt, and a metasedimentary/volcaniclastic rock package; and a major north-east trending reverse fault along the eastern margin of the belt. The Kibi Old Mine historical lode gold prospect located at the north-central extremity of the Apapam concession is spatially associated with this regional structure.

The first pass soil survey will cover an approximately 25 km2 area and encompass an estimated 5,450 samples to be collected at a sampling density of 200 m x 25 m. Reconnaissance geology and prospecting will also be conducted along the approximately 136 km of NW-SE trending cross-lines. Every second sample (50m stations) will initially be submitted for gold and arsenic analysis (approximately 2,725 samples); with the “held – back” samples subsequently subjected for analysis where required to delineate / bracket anomalous gold-in-soil anomalies. Detailed (100m x 25m) follow-up soils and hand auger sampling will be conducted upon reception of analytical results to provide greater definition of gold-in-soil anomalies.

Untested gold-in-soil and IP anomalies lying within the existing Kibi Gold Project grid area will be followed-up by in-fill (100m x 25m) soil sampling and/or hand auger sampling, and mechanized trenching designed to identify high priority, cost-effective drill targets. Of particular interest is a 3.5 km long, NE-trending, chargeable/resistive IP anomaly exhibiting a spatial relationship with a geophysically inferred, NE-trending, regional structural trend, and characterized by coincidental gold-in-soil anomalies and/or auriferous floats lying along the south-western margin of the approximately 5.5 km long Kibi Project gold trend.
See the NI 43-101 Technical Report entitled “Kibi Project, Eastern Region, Ghana” dated July 12, 2010, filed under the Company’s profile on SEDAR at www.sedar.com for further details regarding to the aforementioned Kibi Old Mine historical prospect and the high priority geophysical/geochemical target.

Yves P. Clement, P. Geo, Vice President, Exploration for Xtra-Gold is acting as the Qualified Person in compliance with National Instrument 43-101 (“NI 43-101”) with respect to this announcement. He has prepared and or supervised the preparation of the scientific or technical information in this announcement and confirms compliance with NI 43-101. The NI 43-101 Technical Report entitled “Kibi Project, Eastern Region, Ghana”, prepared by Simon Meadows Smith and Joe Amanor of SEMS and dated July 12, 2010 is filed under the Company’s profile on SEDAR at www.sedar.com. Xtra-Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of drill core, reverse circulation (“RC”) samples, and trench channel samples, the details of which can be viewed on the Company’s website at www.xtragold.com.

About Xtra-Gold Resources Corp.

Xtra-Gold is a gold exploration company with a substantial land position in the Kibi greenstone belt (“Kibi Gold Belt”) located in Ghana, West Africa. The Kibi Gold Belt, which exhibits many similar geological features to Ghana’s main gold belt, the Ashanti Belt has been the subject of very limited modern exploration activity targeting lode gold deposits as virtually all past gold mining activity and exploration efforts focused on the extensive alluvial gold occurrences in many river valleys throughout the Kibi area.

Xtra-Gold holds five (5) Mining Leases totalling approximately 226 sq km (22,600 ha) at the northern extremity of the Kibi Gold Belt. The Company’s exploration efforts to date have focused on the Kibi Project located on the Apapam Concession (33.65 sq. km), along the eastern flank of the Kibi Gold Belt. Xtra-Gold’s Kibi Project consists of an over 5.5 km long mineralised trend delineated from gold-in-soil anomalies, geophysical interpretations, trenching and drilling along the northwest margin of the Apapam Concession.

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:
Paul Zyla
Chief Executive Officer
Telephone: 416-366-4227
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.xtragold.com

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