Xtra-Gold Resources Corp.
OTC Bulletin Board : XTGR

Xtra-Gold Resources Corp.

December 21, 2010 08:01 ET

Xtra-Gold Commences 4,000 Line-Kilometer Helicopter-Borne VTEM Survey in Ghana, West Africa

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2010) - Xtra-Gold Resources Corp. ("Xtra-Gold" or the "Company") (TSX:XTG)(TSX:XTG.S)(OTCBB:XTGR), is pleased to announce that Canadian based Geotech Airborne Limited ("Geotech"), has commenced an integrated helicopter-borne geophysical survey covering the Kibi Gold Project mining lease and its four (4) surrounding exploration concessions at the northern extremity of the Kibi Greenstone Belt in Ghana, West Africa. The airborne Versatile Time-Domain Electromagnetic (VTEM), magnetic, and radiometric survey will encompass approximately 4,000 line-kilometers at 200 m line spacing, with approximately 490 line-kilometers of detail 100 m line spacing coverage over the core Kibi Gold Project mining lease area.

The VTEM system is renowned for its superior penetration depth of greater than 400 meters, low base frequency for enhanced penetration in conductive ground cover, and high spatial resolution which permits the spotting of drill targets directly off the airborne anomalies. The primary purpose of the VTEM survey will be to delineate auriferous graphitic or sulphidic shears but resistivity-depth data may also help further define and/or identify the granitoid bodies hosting the Kibi Gold Project mineralization. In addition to helping map lithological contacts, including the gold prospective granitoid bodies, the aeromagnetic survey will permit the detection of low-magnetic domains possibly reflecting demagnetization resulting from intense gold-related hydrothermal alteration. The radiometric survey may also help further define and/or identify the gold-hosting granitoid bodies.

The Company is also awaiting assay results on 24 diamond drill holes from a recently completed 5,000-meter drill program. Xtra-Gold's current 5,000 meter diamond drilling exploration program has been suspended for the year-end break and will recommence in January 2011.

About Xtra-Gold Resources Corp.

Xtra-Gold is a gold exploration company with a land position in the Kibi Greenstone Belt ('Kibi Gold Belt') located in Ghana, West Africa. The Kibi Gold Belt, which exhibits many similar geological features to Ghana's main gold belt, the Ashanti Belt, has been the subject of very limited modern exploration activity targeting lode gold deposits as virtually all past gold mining activity and exploration efforts focused on the extensive alluvial gold occurrences in many river valleys throughout the Kibi area.

Xtra-Gold holds five (5) concessions totaling approximately 226 sq km (22,600 ha) at the northern extremity of the Kibi Gold Belt. The Company's exploration efforts to date have focused on the Kibi Project located on the Apapam Concession (33.65 sq km), along the eastern flank of the Kibi Gold Belt. Xtra-Gold's Kibi Project consists of an over 5.5 km long mineralized trend delineated from gold-in-soil anomalies, geophysical interpretations, trenching and drilling along the northwest margin of the Apapam Concession.

Forward-Looking Statements

This news release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

The TSX does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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