Xali Gold Corp. Secures Community Support for Pico Machay Gold Project

Community Approval for Project Advancement

On 9 July 2026, Xali Gold Corp. (TSX‑V: XGC) announced that it had received confirmation from the local community of Comunidad Campesina de Salcca Santa Ana (the “Santa Ana Community”) supporting the continued development of the Pico Machay Gold Project in Peru. The community held an extraordinary assembly on 28 June 2026 and authorized the company to proceed with drilling, exploration, and environmental studies at the site.

The approval was described as a result of sustained open communication, transparency, and a shared commitment to responsible development. Xali Gold emphasized that the success of the project relies on maintaining a respectful relationship based on shared values with the surrounding community. The company plans to continue environmental baseline studies, drilling, geological mapping, resource modelling, and other technical studies to support economic evaluations.

Company’s Community Commitment

Xali Gold stated that it will support community‑led initiatives focused on health, education, basic infrastructure, and economic strengthening. The company will also provide social support in education, health, capacity building, culture, and sports. Additionally, the company intends to strengthen local skills, create employment opportunities for community members, and help local businesses become more competitive for goods and services required by the project.

Impact on Project Timeline

The community’s authorization is expected to accelerate the project’s exploration and development schedule. Xali Gold plans to advance drilling to update historical resources and test exploration targets, while conducting surface and underground sampling and various technical studies. The company highlighted its commitment to maintaining high environmental and social standards throughout the life of the project.

Market Context

  • Close price (8 July 2026): CAD 0.255
  • 52‑week high: CAD 0.40 (2 March 2026)
  • 52‑week low: CAD 0.03 (30 September 2025)
  • Market cap: CAD 31,470,000
  • Price‑earnings ratio: 41.22

Xali Gold Corp. is a materials‑sector company based in Vancouver, Canada, specializing in exploration for precious metals in Mexico and Peru. The company is currently in the exploration stage and has not yet confirmed recoverable reserves. It is listed on the TSX Venture Exchange.

The community support for Pico Machay is a key development for Xali Gold, potentially positioning the project for more rapid advancement and strengthening the company’s social license to operate in Peru.