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Gold/Mining/Energy : X-CAL RESOURCES (TSE:XCL)

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From: John Sladek	1/28/2006 9:04:30 AM
	of 225

2006-01-19 Placer Dome Returns Mill Creek To X-Cal Drill Test Inconclusive X-Cal Resources Ltd. has received notice from the Cortez Joint Venture (a joint venture between Placer Cortez Inc. and Kennecott Explorations (Australia), Ltd.) (“CJV”) that the option to purchase agreement announced by X-Cal relating to the Mill Creek Gold Property, located in Lander County, Nevada has been terminated. The option agreement would have required a $ US 5,000,000 payment and a 1.5% NSR to X-Cal for exercise (see X-Cal Press Release dated June 29/05 for details). The CJV attempted two drill holes on the early stage property, neither of which reached their intended depths, due to difficult drilling conditions. It is known at this time that the two-hole program in the South Western part of the property was inconclusive from a geologic perspective. Both holes had to be located from existing roads to comply with present permit limitations (see X-Cal Press Release dated July 11/05). Partial data from the drill holes has been mailed to X-Cal, with multi-element ICP data to follow, at a later date. X-Cal will compile the additional data generated by CJV’s program into the Mill Creek database, when it is received. Full Story: x-cal.com

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