Xanadu Mines Ltd

10:05 AM EST - Xanadu Mines Ltd : Announced initial trenching results from the 100% owned Red Mountain project located within the Dornogovi Province of southern Mongolia, approximately 420km southeast of Ulaanbaatar and 70km west of the provincial centre of Sainshand. Highlights: Assays returned for 1,170m of the 6,500m trenching program at Red Mountain. Initial focus on Target 33 (T33) returned a broad zone of shallow gold mineralization; Significant intercepts include OUTR109 with 66m @ 0.37g/t Au from 26mincluding 18m @ 0.81g/t Au from 50m, including 10m @ 1.23g/t Au from 58m. Xanadu Mines Ltd shares T.XAM are trading unchanged at $0.03.

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