XANADU MINES

• TORONTO, April 18, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (Xanadu, XAM or the Company) is pleased to announce that it has engaged Bacchus Capital Advisers Limited (Bacchus) as its strategic and project funding adviser in relation to the Kharmagtai Copper-Gold Project in the South Gobi region of Mongolia.
• Bacchus is a well-respected adviser to the mining industry in the areas of project financing, transaction structuring and mergers & acquisitions.
• Xanadu’s Executive Chairman & Managing Director, Colin Moorhead said
  “We are pleased to have Bacchus onboard as our strategic & project funding adviser.
• “We believe that with Bacchus onboard, together with Jefferies our M&A adviser, we have the right team to create the most value for our shareholders from our world class Kharmagtai copper-gold project.”

• Water supply is a core input to the study; a key driver to maximise processing throughput for the project.
• We are confident in this field program and aim to demonstrate that, to a PFS standard, there is an adequate supply of water for Kharmagtai, to ensure its successful delivery as Mongolia’s next major copper-gold mine in the south Gobi region of Mongolia.”
  The hydrological program has six key objectives to provide water supply for Kharmagtai operations.
• The Kharmagtai PFS seeks to maximise water recycling through the use of industry best practices including efficient process design, modern tailings dam design and thickened tailings to reduce water loss.
• The order of monitoring bore drilling will change as the field program progresses, including progress of production bore drilling.

Sydney, Australia--(Newsfile Corp. - February 28, 2024) - Visit Xanadu Mines (TSX: XAM) (ASX: XAM) at Booth #2139 at the Prospectors & Developers Association of Canada’s (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3 to Wednesday, March 6, 2024.

• Xanadu Mines advises that on 4 March 2024, it issued 15,185,328 fully paid ordinary shares at a price of $0.055 per share, to Jinping (Singapore) Mining Pte Ltd (a wholly owned indirect subsidiary of Zijin Group Mining Co. Ltd) pursuant to a Share subscription agreement signed on 8 December 2023 (New Shares).
• the New Shares were issued without disclosure under Part 6D.2 of the Act;
  this notice is being given under section 708A(5)(e) of the Act;
  as at the date of this notice, Xanadu Mines has complied with:
  the provisions of Chapter 2M of the Act as they apply to Xanadu Mines; and
  sections 674 and 674A of the Act as they apply to Xanadu Mines; and
  as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) or 708A(8) of the Act that is required to be set out in this notice.
• The Company intends to rely on the exemption in section 602.1 of the TSX Company Manual in respect of the Placement as an Eligible Interlisted Issuer.