Xtra-Gold Resources Corp.

Climate Impact & Sustainability Data (2019, 2020)

Using local contractors promotes the local economy while avoiding illegal workings on our projects.

Recurring losses from operations, raising substantial doubt about the ability to continue as a going concern.
Dependence on a limited number of projects.
Potential challenges to title of projects.
Complex laws and regulations governing operations.
Potential environmental impacts during full-scale mining.
Potential for legal claims.
Fluctuations in currency exchange rates.
Instability in global financial systems.
High inflation rates in Ghana.
Government of Ghana's rights to increase ownership interest in subsidiary.
Dependence on key executives.
Difficulty in engaging qualified personnel.
Changes in political stability in West Africa.
Competition in the mining industry.
Marketability of minerals influenced by industry conditions.
Difficulty for shareholders to enforce judgments against the company or its officers/directors.

Negotiating and posting of a reclamation bond to quantify reclamation costs.
Maintaining insurance policies to protect against certain risks.
Implementing a quality-control program for sampling and analysis.
Using local contractors to promote the local economy and avoid illegal workings.
Investing excess cash in government-backed securities or bank-backed guaranteed investment certificates.
Adjusting exploration expenditures if required.
Defending lawsuits believed to be without merit.

Frameworks Used: NI 43-101

Certifications: ISO 17025:2005

Third-party Assurance: RBSM LLP

Recurring losses from operations, raising substantial doubt about the ability to continue as a going concern.
Dependence on a limited number of projects.
Potential challenges to title of projects.
Complex laws and regulations governing operations.
Potential environmental impacts during full-scale mining.
Lack of insurance for certain risks.
Fluctuations in currency exchange rates.
Instability in global financial systems.
High inflation rates in Ghana.
Government of Ghana's rights to increase ownership interest and pre-emption rights.
Dependence on key executives.
Difficulty in engaging qualified personnel.
Changes in political stability in West Africa.
Competition in the mining industry.
Market fluctuations affecting marketability of minerals.
Volatility in gold prices.
Difficulty for shareholders to enforce judgments against the company or its officers/directors.
Limited trading market for common shares (penny stock).

Negotiating and posting reclamation bonds to quantify reclamation costs.
Using local contractors for placer gold recovery operations to promote the local economy.
Implementing protocols to minimize the impact of Covid-19.
Share repurchases to reduce average shares outstanding.
Increased marketing efforts to improve stock prices.
Investing excess cash in government-backed securities or bank-backed guaranteed investment certificates.

Frameworks Used: NI 43-101