X-Cal Resources fka XCL

[Ed Monton]

X-CAL RESOURCES LTD.

TSX SYMBOL: XCL

JANUARY 5, 2004 - 15:23 ET

X-Cal Resources Ltd.: Update on Sleeper Gold Project

VANCOUVER, BRITISH COLUMBIA--On November 24, 2003 X-Cal Resources
Ltd. announced intentions to exercise its option on the Kinross
interest in the Sleeper Gold District and to establish a joint
venture with an experienced financial and exploration group to
explore the 30 square mile property, located in Humboldt County,
Nevada. In the news release, X-Cal announced an intended closing
date of December 20, 2003, prior to the December 30, 2003
deadline for X-Cal's option on the Kinross portion of Sleeper
Area mineral rights.

X-Cal and Kinross have agreed to extend the closing date for the
exercise of the option, and for X-Cal to complete a joint venture
agreement with the New Sleeper Gold group, into January 2004. The
New Sleeper Gold group, led by David Fennell and James Crombie,
are the "experienced financial and exploration people" referred
to in the earlier news release. The negotiation of agreements
necessary to achieve the objectives outlined in the November 24,
2003 news release is nearing completion. The relevant agreements
are expected to be signable in the near future, with
announcements to follow.

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FOR FURTHER INFORMATION PLEASE CONTACT:
X-Cal Resources Ltd.
Shawn Kennedy
President
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.x-cal.com
Note: X-Cal Resources Ltd. can be referenced through the Standard
& Poors Directory.