Pioneering the Discovery of a New Gold Belt in Ghana, West Africa

CORPORATE PRESENTATIONQ1 2012

2

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Statements contained in this Presentation that are not based on historical fact are “forward-looking statements”. Forward-looking statements may be identified by the use of forward-looking terminology such as “may”, “expect”, “believe”, “estimate”, “anticipate”, “intend”, “plan”, “continue” or similar terms variations of those terms or the negative of those terms. These forward-looking statements are based on information currently available to us. There are a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in or implied by these forward-looking statements. Each person, company or company representatives who receives a copy of this Presentation (“Recipient”) should not attribute undue certainty to any forward-looking statement. Except as otherwise may be required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changes circumstances, or any other reason, after the date of this Presentation.

This Presentation has not been reviewed, approved or disapproved, nor has the accuracy or adequacy of the information set forth herein been passed upon by the Securities and Exchange Commission or any state securities administrator or any United States, Canadian securities regulatory authorities or any other country, federal or state regulatory body. Any representation to the contrary is a criminal offense.

This Presentation is being made on a confidential basis for use solely in connection with a potential investment. The disclosure of any of the data contained herein or supplied in connection herewith or the use thereof for any other purpose, except with our written consent, is strictly prohibited. This Presentation may not be reproduced, in whole or in part and it is accepted by a Recipient with the understanding that it will be returned at our request.

Any Recipient of this Presentation may, if he or she so desires, make inquiries of appropriate members of our Management with respect to our business or any other matters set forth herein and may obtain any additional information which such person deems to be necessary in order to verify the accuracy of the information contained in this Presentation (to the extent that we possess such information or can acquire it without unreasonable effort or expense). In connection with such inquiry, any documents which any Recipient wishes to review will be made available for inspection and/or copying. Prior to review of the documents or information, each Recipient may be required to sign a confidentiality agreement restricting the subsequent use of the information. Any such inquiries or requests for additional information or documents should be made in writing to our President and CEO, Paul Zyla.

No person has been authorized to give any information or to make any representations other than those contained in this Presentation in connection with a potential investment in our Company and, if given or made, such information or representations must not be relied upon as having been authorized by us. This Presentation does not constitute an offer to sell or the solicitation of any offer to buy any security of Xtra-Gold Resources Corp. (“Xtra-Gold”), nor does it constitute an offer to sell or a solicitation of any offer to buy such securities by anyone in any jurisdiction. Any offer or sale of securities of Xtra-Gold will only be made by a separate offering document and definitive agreement which this Presentation does not form a part thereof.

Recipients are not to construe the contents of this Presentation as legal or tax advice. Each Recipient should consult his own counsel, accountant and other advisors as to legal, tax and related matters relating to any relationship with Xtra-Gold.

This Presentation contains summaries or significant documents. Although such summaries are believed to be fair and accurate, they do not purport to be a complete description of every term and condition and reference is hereby made to the actual documents for complete information relating to the rights and obligations of the parties thereto. The summaries are qualified in their entirety by this reference.

In making a decision to do business with Xtra-Gold, any Recipient must rely on their own examination and due diligence investigation of Xtra-Gold, including the merits and risks involved. We cannot guarantee you that the abbreviated nature of this Presentation will not omit to state a material fact which someone may believe to be an important factor about Xtra-Gold. As a result, any Recipient is required to undertake his own due diligence of Xtra-Gold, our current and proposed business and operations, our Management and our financial condition to verify the accuracy and completeness of the information we are providing in this Presentation.

PRESENTATION SUMMARY

Corporate Overview

Ghana Overview

Exploration Overview

Strategy

3

Xtra-Gold Resources Corp. (“Xtra-Gold” or the “Company”) is a gold explorationcompany focused on defining a potentially significant resource on its Kibi GoldDiscovery in Ghana, West Africa

The Company’s main assets are comprised of 5 mining leases (226.24 sq km or55,905 acres) located in the prospective Kibi Greenstone Belt (“Kibi Gold Belt”)in the Eastern Region of Ghana

$9 million in cash with no debt outstanding

Shares Outstanding 44,679,217 (as of February 29, 2012)Warrants 566,482 (exercise price range: USD$1.33)Stock options 1,807,000 (exercise price range: USD$0.70 - $1.98)Fully diluted 47,052,699

Approximately $7 million cash with no debt (unaudited December 31, 2011)

Completed initial public offering on the Toronto Stock Exchange on November 23, 2010

Shares trade on the Toronto Stock Exchange under the symbol “XTG” and on theOTCBB under the symbol “XTGR”

CORPORATE OVERVIEWHighlights

4

5

CORPORATE OVERVIEWCorporate Structure

XTRA-GOLD MINING LIMITED(Ghana corporation)

Acquired on December 22, 2004

Principal Ghanaian operating companywhich holds 5 mining leases for the

Apapam, Kwabeng, Pameng, Bansoand Muoso Concessions (“Kibi Gold Belt”)

XTRA-GOLD EXPLORATION LIMITED(Ghana corporation)

Acquired on February 16, 2004

Holds all exploration licenses

XTRA-GOLD RESOURCES CORP.(Nevada corporation)

Formed October 31, 2003

100%Xtra-Gold

90%Xtra-Gold

10%Ghana Government

Richard W. Grayston ● Certified general accountant since 1977 with more than 36 years’Chairman of the Board and Director experience in public company management

Paul Zyla ● 25 years’ experience with resource-based public companiesPresident, CEO and Director

Peter C. Minuk ● 25 years’ financial experience (formerly with the Bank of Montreal)Secretary-Treasurer and Director

Robert J. Casaceli ● 35 years’ experience in the mining and mineral exploration industriesDirector ● Former Chief Geologist for Franco-Nevada U.S. Corporation

James H. Schweitzer ● 54 years’ experience in the investment industry in Canada, in particular,Director in the securities sector

● Registered representative with Haywood Securities Inc. since February 2003primarily in resource stocks

John C. Ross ● 30 years’ business experience including 20 years’ experience in the mining industryChief Financial Officer ● Chartered accountant since 1987

● Former CFO of Iamgold Corporation, Quadra FNX Mining Ltd. and ColossusMinerals Inc.

Yves P. Clement ● 27 years’ international experience in generation, evaluation andVice-President, Exploration development of exploration properties

● Former Senior Project Geologist with Lake Shore Gold and Aurora Platinum Corp.

Victor Nkansa ● 26 years’ business experience including 12 years’ experience in the mining industryVice-President, Ghana Operations ● Chartered accountant since 1995

David Bell ● 30 years’ experience in the mining and mineral exploration industriesAdvisor to the Board ● Discovered world-class Hemlo Gold Mines

CORPORATE OVERVIEWDirectors, Officers and Advisors

6

James Longshore ● Co-founder of Xtra-Gold Resources Corp.General Manager ● General Manager of Xtra-Gold Mining Limited and Xtra-Gold

Exploration Limited● 18 years’ business investment experience in resource companies

Yves P. Clement, P.Geo ● 27 years’ international experience in generation, evaluation andVice-President, Exploration development of exploration properties

● Former Senior Project Geologist with Lake Shore Gold Corp. (TSX:LSG)and Aurora Platinum Corp.

Denis Laviolette ● Production/resource and exploration geologist with experience in Consulting Geologist predominantly mesothermal-greenstone terrains, specifically, the

Abitibi Belt in Canada, the Kibi Belt in Ghana, West Africa andScarn exploration in Norway

● Formerly conducted 3D ore delineation, modelling and resourceestimations for Goldcorp Inc. (TSX/NYSE:G) (Red Lake Gold Mines),Kirkland Lake Gold Inc. (TSX/AIM:KGI) and Lake Shore Gold Corp.

Robert J. Casaceli ● 35 years’ experience as a senior geologist (world-wide in more thanConsulting Geologist 50 countries

● Former President and CEO of Franc-Or Resources Corporation (TSX:FOR)● Former Chief Geologist of Franco-Nevada U.S. Corporation

David Bell ● 30 years’ experience as a senior geologistConsulting Geologist ● Discovered world-class Hemlo Gold Mines

● Received PDAC Prospector of the Year award in recognition of theHemlo discoveries

CORPORATE OVERVIEWTechnical Management

7

Independent West African country, located on the Gulf of Guineajust north of the equator (formerly known as “The Gold Coast”)

Population +24 million

GDP $38 billion (estimated 2010)

Democratic governmentlegal system based on British Common Lawmore than 50 years of independence

Rated by independent agencies as the most politicallystable country in Africa

English is the primary language

Pro-business and foreign investment

GHANA OVERVIEWAbout Ghana

8

Xtra-Gold’s mining camp is the closest to the capital cityof Accra, as depicted in the map

Easy direct air services to Accra from the followinginternational cities: Dubai, London, New York,Amsterdam and Frankfurt

Distance is 120 km from Accra, with newly constructedhighway to the concessions

Hydro electricity from main grid runs through theconcessions

Easy access, distance & power could result in lowinfrastructure costs for mine construction and operations

GHANA OVERVIEWLocation & Infrastructure

9

GHANA OVERVIEWGold in Ghana

10

Four main gold greenstone belts depicted in map, with alldiscovered mines highlighted

Gold discovered: +140 million ounces

Annual production: more than 3 million ounces second highest producer in Africa

Newmont Mining Corporation (NYSE:NEM, TSX:NMC)more than 23 million ounces discovered at Ahafo andAkyem Mines representing 20% of their global reserves

Other recently discovered deposits in Ghana:

GOLD MINE OUNCES COMPANY TRADING SYMBOLS__________

Chirano Mine 3 million Kinross Gold Corporation TSX:K; NYSE:KGCEdikan Mine 5 million Perseus Mining Limited TSX:PRU; ASX:PRUEsaase Deposit 5 million Keegan Resources Inc. NYSE AMEX:KGN

TSX:KGN

11

Mining Concessionsin the Kibi Gold Belt

EXPLORATION OVERVIEW

12

EXPLORATION OVERVIEWGold-in-Soil Anomalies

EXPLORATION OVERVIEWZone 2 Topography

13

Zone 2 Roads and Drill Pads

EXPLORATION OVERVIEWDrilling Overview

Currently, the Kibi Gold Discovery is comprised of four high-grade zones ofover 5 km in length.

The Company has drilled over 30,000 m.

Infill drilling has commenced in Zone 2 to start defining a reserve.

Three other high-grade zones are being drilled to expand the gold mineralization.

The Company has also identified several new geophysical drill results based onthe recent VTEM survey conducted.

14

EXPLORATION OVERVIEWDrilling Highlights

Drilling highlights from Zone 2:

KBD08004: 8.49 g/t gold over 12 mKBRC09047: 6.29 g/t gold over 23 mKBRC09055: 1.44 g/t gold over 78 mKBRC09060: 9.23 g/t gold over 39 mKBDD10069: 4.03 g/t gold over 27 mKBDD10099: 2.43 g/t gold over 20 mKBDD10101: 2.46 g/t gold over 58 mKBDD10108: 2.39 g/t gold over 42 mKBDD10110: 1.64 g/t gold over 50 mKBDD11113: 2.42 g/t gold over 52 mKBDD11117: 4.88 g/t gold over 16 mKBDD11133: 2.67 g/t gold over 38 mKBDD11136: 2.41 g/t gold over 32 mKBDD11172: 5.47 g/t gold over 17 mKBDD11176: 3.43 g/t gold over 24.5 m

The drilling results continue to exhibit the potential for open pit mining,as well as a large primary gold system at depth. 15

EXPLORATION OVERVIEWMineralization

GOLD MINERALIZATION IN GRANITE ROCK

Road cut exposing auriferous quartz-carbonate vein stockwork in saproliticquartz diorite (Zone 2 – Trench TKB005 granitoid zone)

16

17

EXPLORATION OVERVIEWSurface Geology Drill Plan

18

EXPLORATION OVERVIEWModel of Gold Shoots

continue drilling the Kibi Gold Discovery to maximizeshareholder value through the “drill-bit”

extensive in-fill drilling in Zone 2 is being conducted todefine a reserve

continue to expand the size of the Kibi Gold Discoveryby completing drilling of other zones/targets

our goal is to prove up a multi-million ounce deposit tomaximize shareholder value

.

STRATEGY

19

APPENDIX “A”

IP / Resistivity – Magnetometer Surveys

Kibi Gold Trend Geophysics

The entire 5.5 km length of the Kibi anomalous gold-in-soil trend was covered by pole – dipole Induced Polarization (IP) / Resistivity (62 km) and Magnetometer surveys to further define the lithological / structural nature of the mineralized trend and prioritized drill targets (see “Surface GeologyDrill Plan” on slide 17)

The IP / Resistivity survey identified 2 main resistive domains exhibiting a close spatial relationship with the main 4 gold-in-soil anomalies of the Kibi Gold Trend (Zones 1 to 4); the resistive terrain is interpreted to reflect the widespread granitoids and/or carbonate–silica alteration associated with the known gold mineralization

The survey outlined a prominent NE trending, high chargeability, typically with high conductivity, central corridor possibly reflecting a regional graphite–bearingshear zone

The continuity of the central anomalous chargeability corridor is intermittently dissected by geophysically / geochemically anomalous NW trending structures

The NE extremity of the anomalous chargeability corridor is associated with a non-magnetic domain (Mag Low) possibly reflecting alteration related magnetite destruction of the hostrock

20

APPENDIX “B”Kibi Gold Trend Compilation Map

Apparent Resistivity / Gold-In-Soil Anomalies / Drill Collars

21

Suite 301 Paul Zyla, President and CEO360 Bay Street TEL: (416) 366-4227Toronto ON M5H 2V6 Canada E-MAIL: pzyla@xtragold.com

TEL: (416) 366-4227 James Longshore, General ManagerFAX: (416) 981-3055 TEL: (416) 579-2274WEB SITE: www.xtragold.com E-MAIL: jameslongshore@hotmail.com

AUDITOR: Davidson & Company LLP609 Granville Street, Suite 2100P.O. Box 10372, Pacific Centre

Contact: Robby Payment Vancouver BC V7Y 1G6 Canada

CANADIAN COUNSEL: Peterson Law Professional Corporation390 Bay Street, Suite 806

Contact: Dennis Peterson Toronto ON M5H 2Y2

U.S. COUNSEL: Schneider, Weinberger & Beilly LLP2200 Corporate Blvd. N.W., Suite 210

Contact: James Schneider Boca Raton FL 33431-7307

TRANSFER AGENTS: Olympia Transfer Services Inc.120 Adelaide Street West, Suite 920Toronto ON M5H 1T1

Contact: Lisa Clarkin TEL: (416) 364-8081 FAX: (416) 364-1827

Olde Monmouth Stock Transfer Co. Inc.200 Memorial ParkwayAtlantic Highlands NJ 07716

Contact: Matt Troster TEL: (732) 872-2727 FAX: (732) 872-2728

CONTACT US

22