X-Cal Resources Ltd.
TSX : XCL

X-Cal Resources Ltd.

July 28, 2009 08:00 ET

X-Cal Resources Ltd.: First Quarter Financial Statements Filed and Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2009) - X-CAL (TSX:XCL) has filed Financial Statements and MD&A to SEDAR for the first quarter, which ended on June 30, 2009.

In general terms we are very encouraged. The Company is debt free and controls significant gold and silver resources in Nevada, where development logistics are favorable.

The Sleeper Gold Property is located in Humboldt County, Nevada. Proposals were received, site visits took place and inquiries from mining companies occurred during the quarter. Discussions are ongoing.

A NI 43-101 type Preliminary Economic Assessment (PEA) of the gold and silver resources at Sleeper is in progress. The results of the study are expected within the current quarter.

In addition, two Cortez Area Gold Properties and the West Rochester property in the Spring Valley Area, Nevada are also 100% owned by X-Cal.

A new website is under construction and scheduled for completion in this quarter.

The contents of this release have been reviewed by Larry Kornze, P.Eng., who is a "Qualified Person" as defined by NI 43-101.

Shawn Kennedy, President

Caution Concerning Forward-Looking Statements

This release and related documents may contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of drilling results and potential mineralization, future exploration work at the Sleeper Gold Project, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area Project and the expected results of this work. Forward looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Sleeper Gold Project, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area Project; uncertainties involved in the interpretation of drilling results and other tests; the possibility that required permits may not be obtained in a timely manner or at all; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the exploration operations at the Sleeper Gold Project, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area Project.

Forward-looking statements contained in this release and related documents are based on the beliefs, estimates and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. X-Cal Resources Ltd. and X-Cal USA, Inc. undertake no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

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