XCana Petroleum Corp. Announces Further Expansion onto the Table Mountain Critical Mineral Project to Cover The Treasure Box Hill Copper Prospect

CHICAGO, IL / ACCESSWIRE / September 11, 2023 / XCana Petroleum Corp. (OTC PINK:XCPT) is pleased to announce the completion of a 248-acre expansion to acquire full ownership rights to the historically documented Treasure Box Hill Copper Prospect. The Treasure Box Hill Copper Deposit is located directly above the western portion of our claim block, above our Nevada Nickel #100-102 lode claims, and furthers our mission of rapid consolidation of this mining district.

As described in the U.S. BUREAU OF MINES IC 7093, 1940, P. 47. A number of copper prospects occur on Treasure Box Hill at the head of Bell Mare Canyon south of Cottonwood Canyon. Deposits are reached on horseback up Cottonwood Canyon past the nickel properties. From Boyer ranch the distance is about 15 miles. The principal properties were located in the early eighteen sixties by Alva Boyer, C. S. Kellose, Jacob Strananger, and Patrick Reid. In the early days several wagon trains of rich, hand--sorted copper ore were mined from surface workings and taken to Sacramento for transportation to Swansea, Wales. In about 1900, a group from Colorado erected a small smelting furnace on the Azurite- Nevada, Queen group of claims, which is still intact, but, judging from the condition of the smelter,no ore was reduced. About 1910 the Boyer Copper Mines Co. acquired control of 49 claims and did some development work and diamond drilling, but there was no production. In recent years claims have been idle. The main work on Treasure Box Hill was done in a bed of copper-bearing andesite about 100 feet thick. The contact dips about 20° WW. The ore is chiefly chalcopyrite disseminated through the green andesite and, according to Carpenter, the lower 30 feet of the bed averages nearly 5 percent copper and $1 in gold with a trace of silver. In places just above the contact small, iron-capped veins occur in the green andesite and the andesite porphyry. When followed downward, these veins lead to massive chalcocite disseminated in a gangue of breccia, and pieces of pure black sulfides as large as a man's hand have been found occasionally. Massive bornite, tenorite, and cuprite also occur mixed with the two carbonates - malachite and azurite, - making small deposits of rich ore. Development by the Boyer Copper Mines Co. exposed a block of ore 200 feet long, 100 feet wide, a n d 500 feet deep, measured on the dip, containing 1.7 percent copper and about $0.70 in gold per ton.

Regarding continued expansion, Mac J. Shahsavar, P. Eng., Chairman of Xcana Corp., stated "that the ongoing consolidation of the Table Mountain District in Nevada entails obtaining the rights to additional copper prospects that have been well documented throughout history. Copper is an essential component in a wide range of modern renewable energy systems that are experiencing rapid expansion. Wind turbines, electricity networks, electric vehicles, solar panels, and other technologies are included. As a result, we see considerable potential and relevance in securing any valuable assets that will add to the company's overall mineral resource estimate in the future."

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About Xcana Petroleum Corp.

XCana Petroleum Corp. is a critical minerals exploration company focused on developing its flagship project, the "Table Mountain Critical Mineral Project", located in the northern Stillwater Range, northeastern Churchill County, Nevada. Xcana Corp. holds 100% ownership in a 118-lode claim, 2430-acre project targeting an array of critical minerals vital to the United States supply chain within the Table Mountain, Bolivia, Boyer, and Cottonwood Canyon districts of Churchill County. The company is seeking to develop this expanding portfolio of nickel, copper, and cobalt-rich assets to become a major supplier of critical minerals.

FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at : https://www.otcmarkets.com/stock/XCPT/disclosure

SOURCE: XCANA PETROLEUM CORP