Mr. James Longshore reports

XTRA-GOLD ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Xtra-Gold Resources Corp. proposes to undertake a non-brokered private placement to raise gross proceeds of $1.5-million through the sale of up to 625,000 units at a price of $2.40 per unit. Each unit consists of one common share of the company and one-half of a common share purchase warrant, each whole warrant entitling the holder to purchase one additional share at a price of $2.80 per share for a period of two years upon issuance.

In accordance with Toronto Stock Exchange policies, the company may pay finders' fees comprising cash and non-transferable warrants in connection with the private placement to certain qualified arm's-length finders for such portion of the financing as may be attributable to their efforts. Each finder's warrant will entitle the holder to purchase one additional share at a price of $2.50 per share for a period of two years upon issuance.

Proceeds of the private placement will be used for general working capital purposes.

Closing of the private placement is subject to Toronto Stock Exchange acceptance and required regulatory approvals. All of the securities issued pursuant to this private placement will be subject to a regulatory hold period of four months plus one day from the date of issuance.

About Xtra-Gold Resources Corp.

Xtra-Gold is a gold exploration company with a substantial land position in the Kibi gold belt in Ghana, West Africa.

We seek Safe Harbor.