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Gold X2 Drilling Intersects a Combined 172.0m of 0.96 g/t Au in Infill Drilling

Wider mineralized zones came with lower grades than modelled, ahead of a resource update targeted for Q1 2027.

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Gold X2 Mining (AUXX) reported infill drilling results from 21 holes at its Moss Gold Project in Northwest Ontario.

Hole MMD-26-430 returned a combined 172.0m at 0.96 g/t gold. Other results included 130.95m at 0.55 g/t in Main Zone hole MMD-26-454 and 74.15m at 0.71 g/t in Southwest Zone hole MMD-26-456. Main Zone mineralized shears were 67% wider than modelled, with 28% lower grades; Southwest Zone shears were 87% wider, with 39% lower grades. Gold X2 describes the overall comparison with its resource model as positive and targets an updated mineral resource estimate for Q1 2027.

The program aims to upgrade Inferred resources to the higher-confidence Indicated category. Hole MMD-26-433 missed the core shear system near the Snodgrass Fault; further drilling is planned to locate faults that offset mineralization.

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0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

  • Moderate pointMMD-26-430 returned a combined 172.0m at 0.96 g/t gold in Main Zone infill drilling.
  • Moderate pointMain Zone shears were 67% wider but contained 28% lower grades than modelled; Gold X2 describes net reconciliation as positive.
  • Moderate pointSouthwest Zone shears were 87% wider but contained 39% lower grades than modelled; Gold X2 describes net reconciliation as positive.
  • Minor pointMMD-26-454 intersected 130.95m at 0.55 g/t gold from 353.05m.
  • Minor pointMMD-26-425 intersected 69.55m at 0.42 g/t gold from 303.4m.
8 minor points
  • Minor pointMMD-26-425 also intersected 58.5m at 0.60 g/t gold from 391.5m.
  • Minor pointMMD-26-452 intersected 4.85m at 4.75 g/t gold from 5.8m.
  • Minor pointMMD-26-441 intersected 86.0m at 0.42 g/t gold from 106.0m.
  • Minor pointMMD-26-456 intersected 74.15m at 0.71 g/t gold from 98.85m.
  • Minor pointMMD-26-421 intersected 60.65m at 0.55 g/t gold from 471.45m.
  • Minor pointMMD-26-458 intersected 75.0m at 0.36 g/t gold from 199.0m.
  • Minor point. Forward-looking: it has not happened yet and may not happen.Ongoing drilling aims to upgrade Inferred resources to Indicated and expand the Moss resource inventory.
  • Minor point. Forward-looking: it has not happened yet and may not happen.Gold X2 targets an updated mineral resource estimate in Q1 2027.

Negative

  • Minor pointMMD-26-433 failed to locate the core shear system along the Snodgrass Fault boundary.
  • Minor pointSnodgrass Fault deformation in the Southwest Zone was more sudden than modelled.

Key Figures

Gold intercept: 172.0m at 0.96 g/t Au Higher-grade interval: 2.0m at 15.85 g/t Au; 22.99 g/t Au uncut Gold intercept: 130.95m at 0.55 g/t Au +4 more
Gold intercept
172.0m at 0.96 g/t Au
Main Zone, hole MMD-26-430
Higher-grade interval
2.0m at 15.85 g/t Au; 22.99 g/t Au uncut
Within the 67.0m interval in hole MMD-26-430
Gold intercept
130.95m at 0.55 g/t Au
Main Zone, hole MMD-26-454
Gold intercept
74.15m at 0.71 g/t Au
Southwest Zone, hole MMD-26-456
Width and grade vs. model
67% wider; 28% lower grades
Main Zone infill holes compared with the model
Width and grade vs. model
87% wider; 39% lower grades
Southwest Zone infill holes compared with the model
Infill holes
21 holes
Nine in the Main Zone and twelve in the Southwest Zone

Key Terms

inferred mineralization, mineral resource estimate, cut off, true widths
4 terms
inferred mineralization technical
"focused on converting existing Inferred mineralization to Indicated"
An inferred mineralization (often called an Inferred Mineral Resource) is an estimated concentration of minerals in the ground whose presence, grade and continuity are suggested by limited geological evidence and sampling but cannot be measured with confidence. It is the lowest-confidence resource category used in standard mining reporting codes (for example JORC, NI 43-101): the data are sufficient to imply geological continuity but too sparse or uncertain to support more reliable estimates or to demonstrate economic extractability, and it must not be treated as a mineral reserve.
mineral resource estimate technical
"impact on our updated Mineral Resource Estimate, targeted for Q1 2027"
A mineral resource estimate is a calculated approximation of how much metal or mineral material likely exists in a particular deposit and where it sits underground, similar to estimating how many cookies are in a jar by peeking at the layers. It matters to investors because it provides a data-based starting point for judging a project's potential value, future production and risks, while not guaranteeing recoverable or profitable amounts.
cut off technical
"calculated above a 0.3 g/t Au cut off"
A cut off is a specified deadline—usually a date and/or time—after which a particular action, instruction, or entitlement is no longer accepted or processed for a corporate or market event. Common uses include the latest time to place orders, register for a shareholder meeting, participate in a rights issue, or have a trade settled; the exact effect (whether the cut off is inclusive or exclusive) and the applicable time zone or business-day rule are set by the governing notice, exchange rule, or contract.
true widths technical
"True widths are approximate and assume a subvertical body"
True widths refer to the actual difference between the highest and lowest prices at which a stock has traded over a specific period, reflecting its real price range. This measure helps investors understand how much a stock's price has moved, providing insight into its volatility and trading activity. A wider true width indicates greater price fluctuation, which can signal higher risk or potential opportunity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - Gold X2 Mining Inc. (NYSE American: AUXX) (TSXV: AUXX) (FSE: DF80) ("Gold X2" or the "Company") is pleased to announce the most recent assays from its ongoing infill drilling program targeting the Main and Southwest Zones at the Moss Gold Project in Northwest Ontario, Canada (the "Moss Gold Project").

Michael Henrichsen, CEO and Director of Gold X2 commented: "Our ongoing infill drilling at the Main and Southwest zones continues to deliver positive reconciliation against our existing resource model, reinforcing our confidence in the deposit and highlighting the potential for meaningful increases in contained ounces and improvements in the strip ratio. We believe these results will have a significant impact on our updated Mineral Resource Estimate, targeted for Q1 2027."

Highlights

  • Nine holes were drilled at the Main Zone as part of the ongoing resource infill campaign focused on converting existing Inferred mineralization to Indicated. Infill drilling targeted both core and marginal shear systems returning multiple wide zones of moderate-grade mineralization that show a net positive reconciliation with the resource model. Select results include: 

    • 69.55m of 0.42 g/t Au from 303.4m in MMD-26-425, and

    • 58.5m of 0.60 g/t Au from 391.5m

    • 172.0m of 0.96 g/t Au from 195.0m in MMD-26-430, including

      • 39.0m of 1.31 g/t Au from 195.0m, including

        • 18.5m of 2.44 g/t Au from 209.5m, and

      • 67.0m of 0.97 g/t Au (1.18 g/t Au uncut) from 255.0m, including

        • 2.0m of 15.9 g/t Au from 320.0m, and

      • 33.0m of 0.96 g/t Au from 334.0m

    • 4.85m of 4.75 g/t Au from 5.8m in MMD-26-452

    • 11.4m of 1.84 g/t Au from 213.6m in MMD-26-454, and

    • 130.95m of 0.55 g/t Au from 353.05m, including

      • 21.45m of 1.14 g/t Au from 359m

  • Twelve holes were drilled at the Southwest Zone, as part of the ongoing resource infill campaign. The infill drilling continued to intersect expected wide zones of moderate-grade mineralization favorable for open-pit mining again showing a net positive reconciliation with the resource model. Select results include:

    • 60.65m of 0.55 g/t Au from 471.45m in MMD-26-421

    • 39.0m of 0.53 g/t Au from 413.0m in MMD-26-428

    • 39.0m of 0.58 g/t Au from 489.0m in MMD-26-429

    • 28.0m of 0.76 g/t Au from 379.0m in MMD-26-436

    • 33.25m of 0.78 g/t Au from 195.75m in MMD-26-438, including

      • 14m of 1.47 g/t Au from 208.0m

    • 86.0m of 0.42 g/t Au from 106.0m in MMD-26-441

    • 34.5m of 0.71 g/t Au from 313.0m in MMD-26-450

    • 74.15m of 0.71 g/t Au from 98.85m in MMD-26-456, including

      • 45m of 1.06 g/t Au from 141m, and

    • 55.0m of 0.37 g/t Au from 175.0m, and

    • 38.0m of 0.53 g/t Au from 248.0m

    • 37.0m of 0.62 g/t Au from 148.0m in MMD-26-458, and

    • 75.0m of 0.36 g/t Au from 199.0m

Technical Overview
The results of the twenty-one holes drilled into the Main and Southwest Zones are illustrated in the following figures and tables. Figure 1 shows the location map of the drill holes reported in this release. Figure 2 provides a cross-section through drill hole MMD-26-415. The results are summarized in Tables 1 to 3, which include significant intercepts (Table 1), drill hole locations (Table 2) and the reconciliation between actual drill intercepts and those predicted by the current resource model (Table 3).

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Figure 1: Shows the location of the drill holes across the Main and Southwest Zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/318844_e62f951fe4969ad5_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/8051/318844_e62f951fe4969ad5_003.jpg

Figure 2: Shows a section through drill hole MMD-26-430 with reported intersections relative to the current resource block model

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/318844_e62f951fe4969ad5_003full.jpg

Gold X2 continues its deposit-wide infill drilling and resource expansion programs designed to upgrade in-pit Inferred resource blocks to Indicated and expand the overall mineral resource inventory of the Moss Gold Project. Twenty-one holes were drilled, nine as part of the infill of the Main Zone and twelve infilling the Southwest Zone. The drill hole plan was optimized in three dimensions using AI software to minimize the drilling requirements and maximize the conversion rate. Several of these holes are planned at differing azimuths rather than on the established drill grid, targeting multiple shallow marginal shears. These include MMD-26-423, MMD-26-426, MMD-26-447, and MMD-26-448, which are drilling away from the Main Zone and MMD-26-452, which is drilling subparallel to the Main Zone.

The nine Main Zone holes largely encountered expected geological sequences as outlined by the geological model. The additional holes have allowed for a refinement of the northern diorite-dacite contact and the northern porphyritic diorite intrusion, both of which have had limited drill intercepts. The shear zone model continues to successfully predict the location of the mineralized core shears with marginal shears showing less predictability but within a 10m accuracy.

Hole MMD-26-433 failed to locate the core shear system along the boundary of the Snodgrass Fault. Further drilling is planned to properly model the position of the late faults that offset mineralization. The core shears of the Main Zone continue to correlate with the sericite-silica-hematite sheared granodiorite and diorite units.

Twelve holes were drilled to infill the Southwest Zone, which encountered the expected geological package of massive dacitic volcanics and flow breccias intruded by a large variably altered diorite complex. The lithological units do not appear to fold into the Snodgrass Fault as gradually as modelled with the deformation appearing more sudden than anticipated. Holes MMD-26-437, -442, and -458 were drilled across the Snodgrass Fault, encountering 5-15m wide zones of annealed fault breccia. The shear model predicts narrower shears than was intercepted with mineralization occurring in 20-80m wide, weakly sheared, sericite-silica-chlorite altered diorites containing localized higher grade discrete shears ranging from 10-30cm wide.

The nine infill holes drilled at the Main Zone intersected mineralized shears that are 67% wider than modelled but contain 28% lower grades. The twelve infill holes drilled at the Southwest Zone intersected mineralized shears that are 87% wider than modelled but contain 39% lower grades. This reflects the significant addition of lower-grade secondary shears in between the primary shears, which were modelled as waste and therefore excluded from the current Mineral Resource Estimate and discovery of additional marginal shears beyond the primary shear system. The drilling results therefore exhibit a net positive reconciliation when compared to the MRE.

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Figure 3: Hole MMD-26-430: Moderate sheared diorite with intense sericite-silica-chlorite alteration containing 5% py-cp bearing quartz carbonate veins with an intercept of 2.0m of 15.85 g/t Au (22.99 g/t Au uncut) from 320.0m, part of the greater intercept of 67.0m of 0.97 g/t Au (1.18 g/t Au uncut) from 255.0m.

To view an enhanced version of this graphic, please visit:
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Table 1: Significant intercepts

HOLE IDFROMTOLENGTH 
(m)		TRUE WIDTH 
(m)		CUT GRADE
(g/t Au)		UNCUT GRADE
(g/t Au)
MMD-26-420207.65217.009.355.90.430.43
MMD-26-420242.00249.007.004.51.351.35
MMD-26-420302.00313.5011.507.40.550.55
MMD-26-420371.00385.8014.809.70.650.65
MMD-26-420371.00378.007.004.61.021.02
MMD-26-420399.45406.406.954.60.950.95
MMD-26-421333.00335.752.752.10.350.35
MMD-26-421396.75414.0017.2513.60.450.45
MMD-26-421471.45532.1060.6549.00.550.55
MMD-26-421472.00477.955.954.82.502.50
MMD-26-42346.4050.053.652.40.340.34
MMD-26-42368.4093.1524.7516.60.330.33
MMD-26-42564.6573.508.855.30.350.35
MMD-26-425144.90149.004.102.50.710.71
MMD-26-425212.00252.0040.0025.30.430.43
MMD-26-425246.00249.003.001.92.992.99
MMD-26-425272.60275.903.302.10.580.58
MMD-26-425286.40292.005.603.60.460.46
MMD-26-425303.40372.9569.5545.30.420.42
MMD-26-425356.20365.008.805.71.381.38
MMD-26-425391.50450.0058.5038.60.600.60
MMD-26-425396.50406.009.506.21.331.33
MMD-26-425417.95423.505.553.72.252.25
MMD-26-425462.00483.0021.0014.00.680.68
MMD-26-425462.90474.0011.107.41.041.04
MMD-26-4266.2010.003.802.61.281.28
MMD-26-4267.0010.003.002.11.521.52
MMD-26-42652.1068.0015.9011.10.640.64
MMD-26-42659.0063.854.853.41.391.39
MMD-26-428180.00188.008.005.10.360.36
MMD-26-428231.00233.002.001.30.460.46
MMD-26-428293.00296.853.852.60.390.39
MMD-26-428311.00315.004.002.70.530.53
MMD-26-428324.90333.008.105.50.300.30
MMD-26-428366.55372.906.354.42.452.45
MMD-26-428366.55372.005.453.82.772.77
MMD-26-428413.00452.0039.0027.90.530.53
MMD-26-428414.00424.3010.307.31.031.03
MMD-26-428473.00491.0018.0013.10.580.58
MMD-26-428486.00488.002.001.52.212.21
MMD-26-429203.00205.002.001.38.628.62
MMD-26-429276.15278.952.801.90.550.55
MMD-26-429302.00310.008.005.50.370.37
MMD-26-429374.10380.005.904.20.490.49
MMD-26-429397.00422.0025.0017.80.320.32
MMD-26-429461.05473.6512.609.10.540.54
MMD-26-429489.00528.0039.0028.80.580.58
MMD-26-429538.35543.355.003.70.310.31
MMD-26-4308.0017.009.005.40.410.41
MMD-26-43034.0046.2012.207.41.461.46
MMD-26-43040.0046.206.203.72.632.63
MMD-26-43071.85103.0031.1518.80.520.52
MMD-26-430134.30137.202.901.80.540.54
MMD-26-430155.00181.0026.0015.80.490.49
MMD-26-430168.00176.008.004.91.091.09
MMD-26-430195.00234.0039.0023.71.311.31
MMD-26-430209.50228.0018.5011.32.442.44
MMD-26-430255.00322.0067.0041.10.971.18
MMD-26-430272.00274.002.001.21.571.57
MMD-26-430282.00284.002.001.22.102.10
MMD-26-430305.60308.002.401.53.743.74
MMD-26-430320.00322.002.001.215.8522.99
MMD-26-430334.00367.0033.0020.20.960.96
MMD-26-430334.00341.007.004.32.502.50
MMD-26-430358.00366.008.004.91.371.37
MMD-26-430420.00440.0020.0012.30.460.46
MMD-26-43310.0024.0014.008.20.310.31
MMD-26-43322.0024.002.001.21.271.27
MMD-26-43328.0038.0010.005.90.340.34
MMD-26-43373.2077.003.802.30.720.72
MMD-26-433107.00116.009.005.50.340.34
MMD-26-433141.50144.002.501.50.470.47
MMD-26-433194.80214.0019.2012.30.320.32
MMD-26-433226.00253.0027.0017.40.390.39
MMD-26-433291.00293.002.001.30.340.34
MMD-26-433309.90338.3028.4018.90.680.68
MMD-26-433328.00332.804.803.21.631.63
MMD-26-433380.00382.002.001.40.530.53
MMD-26-433398.00403.005.003.40.430.43
MMD-26-433422.65461.0038.3526.20.370.37
MMD-26-436188.35203.0014.6510.20.400.40
MMD-26-436198.45202.003.552.51.211.21
MMD-26-436227.30230.503.202.30.560.56
MMD-26-436244.00248.804.803.40.610.61
MMD-26-436295.00298.003.002.20.470.47
MMD-26-436310.00313.003.002.20.590.59
MMD-26-436345.00348.003.002.30.580.58
MMD-26-436353.00355.002.001.50.340.34
MMD-26-436359.00367.008.006.10.340.34
MMD-26-436379.00407.0028.0021.40.760.76
MMD-26-436397.00407.0010.007.71.401.40
MMD-26-436420.00456.0536.0527.90.300.30
MMD-26-436458.10481.0022.9017.80.480.48
MMD-26-437124.00126.002.001.30.860.86
MMD-26-437188.00237.0049.0032.70.360.36
MMD-26-437255.00267.2012.208.21.031.03
MMD-26-437257.00266.559.556.51.151.15
MMD-26-438132.60138.455.854.00.430.43
MMD-26-438195.75229.0033.2523.40.780.78
MMD-26-438208.00222.0014.009.91.471.47
MMD-26-438266.00268.002.001.40.710.71
MMD-26-441106.00192.0086.0054.30.420.42
MMD-26-441128.80133.004.202.62.002.00
MMD-26-441177.00179.002.001.33.393.39
MMD-26-441242.00244.002.001.30.360.36
MMD-26-441268.00273.005.003.30.340.34
MMD-26-441296.00314.0018.0012.00.430.43
MMD-26-441335.00337.002.001.41.251.25
MMD-26-441348.00350.002.001.40.310.31
MMD-26-44320.0525.004.953.00.530.53
MMD-26-443210.55237.0026.4515.50.370.37
MMD-26-443327.00338.8511.857.00.420.42
MMD-26-443395.00402.007.004.11.871.87
MMD-26-443468.00481.0013.007.70.370.37
MMD-26-44736.0038.252.251.50.650.65
MMD-26-4486.3020.0513.759.10.460.46
MMD-26-450174.00183.009.006.20.410.41
MMD-26-450264.00272.008.005.70.360.36
MMD-26-450313.00347.5034.5025.40.710.71
MMD-26-450330.00343.0013.009.61.321.32
MMD-26-450391.95396.004.053.10.320.32
MMD-26-450409.00425.0016.0012.31.081.08
MMD-26-450409.00422.0013.009.91.251.25
MMD-26-4525.8010.654.853.04.754.75
MMD-26-4527.0010.653.652.26.026.02
MMD-26-45276.0080.904.902.90.590.59
MMD-26-452240.00244.004.002.40.340.34
MMD-26-452308.00314.006.003.60.690.69
MMD-26-452347.05363.1516.109.70.380.38
MMD-26-454102.00110.008.005.00.310.31
MMD-26-454120.00134.0014.008.80.410.41
MMD-26-454157.00159.002.001.30.590.59
MMD-26-454177.70181.003.302.10.410.41
MMD-26-454213.60263.0049.4031.80.590.59
MMD-26-454213.60225.0011.407.31.841.84
MMD-26-454279.65295.6015.9510.41.041.04
MMD-26-454329.00341.0012.007.90.450.45
MMD-26-454334.00336.002.001.31.491.49
MMD-26-454353.05484.00130.9587.10.550.55
MMD-26-454359.00380.4521.4514.21.141.14
MMD-26-454400.10402.702.601.71.371.37
MMD-26-454435.10442.006.904.62.232.23
MMD-26-454496.00505.009.006.00.590.59
MMD-26-45677.7579.902.151.60.490.49
MMD-26-45698.85173.0074.1555.40.710.71
MMD-26-456141.00186.0045.0034.61.061.06
MMD-26-456175.00230.0055.0043.00.370.37
MMD-26-456240.05242.602.552.00.320.32
MMD-26-456248.00286.0038.0030.20.530.53
MMD-26-456316.80322.105.304.31.591.59
MMD-26-456345.20369.0023.8019.40.380.38
MMD-26-45815.0017.002.001.30.480.48
MMD-26-45847.3053.005.703.90.320.32
MMD-26-45888.0091.003.002.10.380.38
MMD-26-458121.00129.008.005.80.360.36
MMD-26-458148.00185.0037.0027.90.620.62
MMD-26-458179.50184.004.503.41.801.80
MMD-26-458199.00274.0075.0058.50.360.36
MMD-26-458265.75269.403.652.93.513.51
MMD-26-458293.00306.8013.8011.10.760.76
MMD-26-458300.80306.806.004.91.471.47
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.

 

Table 2: Drill Collars

HOLEEASTNORTHRLAZIMUTHDIPEOH
MMD-26-423669,0095,379,313427322.1-48.8117.00
MMD-26-425668,7335,379,231436137.0-53.7513.00
MMD-26-426668,9575,379,251428322.2-46.0132.00
MMD-26-430668,9025,379,229431140.1-53.6461.00
MMD-26-443668,7325,379,230436165.4-53.2549.00
MMD-26-447668,9935,379,344437327.9-49.6102.00
MMD-26-448668,9645,379,344438343.0-48.3102.00
MMD-26-452669,0435,379,399440226.9-52.3410.60
MMD-26-454668,7285,379,215435142.9-53.1507.00
MMD-26-420668,0975,378,309450140.0-54.4411.00
MMD-26-421668,1815,378,450443126.1-49.6555.00
MMD-26-428668,1615,378,336447136.1-53.3507.00
MMD-26-429668,1445,378,379442124.1-53.4546.30
MMD-26-433668,2025,378,273455120.0-54.3468.00
MMD-26-436668,2235,378,403440141.1-51.1489.30
MMD-26-437668,5315,378,567436129.1-51.0333.00
MMD-26-438668,2975,378,299453120.0-48.9288.00
MMD-26-441668,3375,378,272445135.9-53.0351.00
MMD-26-450668,2725,378,387436145.0-53.1450.00
MMD-26-456668,4205,378,343445131.0-49.0399.00
MMD-26-458668,4615,378,374439120.2-48.2330.00

 

Table 3: Infill drill results versus expected results from the current resource model

HOLE IDMODEL LENGTHMODEL GRADEDRILL LENGTHDRILL GRADE AREA
MMD-26-4234.001.1528.400.33 Main
MMD-26-425116.300.89210.900.50 Main
MMD-26-42621.850.8219.700.76 Main
MMD-26-430137.251.12240.250.87 Main
MMD-26-44393.200.5063.250.56 Main
MMD-26-447

2.250.65 Main
MMD-26-448

13.750.46 Main
MMD-26-45222.000.9435.851.05 Main
MMD-26-454120.950.96244.600.57 Main
MMD-26-42023.851.3049.600.72 SW
MMD-26-42146.352.2080.650.52 SW
MMD-26-42866.250.5189.300.63 SW
MMD-26-42936.102.07100.300.63 SW
MMD-26-43356.450.74161.250.43 SW
MMD-26-43637.400.58128.600.48 SW
MMD-26-43738.400.9663.200.50 SW
MMD-26-43840.900.5341.100.72 SW
MMD-26-44189.300.63115.000.43 SW
MMD-26-45046.400.4971.550.70 SW
MMD-26-456111.000.76200.950.52 SW
MMD-26-45874.350.71144.500.47 SW

 

Analytical and QA/QC Procedures

All drill core is NQ diameter drill core has been visually validated in the core shack, rotated, and reconnected. Structural orientation data was captured by acoustical and optical televiewer operated by DGI Geosciences. All core has been sawed in half cut just off a geologist established cutline aligned 90° from the apex of the foliation, with the right half (looking down hole) of the core bagged and sent a third-party analytical laboratory. The left half of the core was returned to core boxes and is stored at Gold X2's Kashabowie core yard facility.

All samples were sent to Paragon Geochemical in Timmins for sample preparation. Samples were analysed for gold via PhotonAssay™ ("PA-AU02") by Paragon's laboratory in Hamilton and then shipped to Activation Laboratories (ActLabs) Ancaster for 60 pathfinder elements via ICP-MS after four-acid digestion ("UT-6"). Paragon and ActLabs are accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025.

In addition to Paragon quality assurance / quality control ("QA/QC") protocols, Gold X2 has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Gold X2 by Orix Geoscience Inc.

Qualified Person

Peter Flindell, PGeo, MAusIMM, MAIG, Chief Operating Officer, of the Company, and a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company's health and safety policies in the field to ensure full compliance, and consulted with the Project's host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company's remediation protocols.

About Gold X2 Mining

Gold X2 is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. The Company's current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The 2026 updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") mineral resource estimate ("MRE") for the Moss and East Coldstream Deposits has expanded to 2.458 million ounces of Indicated gold resources at 1.04 g/t Au, contained within 73.8 million tonnes and 4.209 million ounces of Inferred gold resources at 0.97 g/t Au contained within 134.7 million tonnes. The Moss Deposit also has a silver MRE of 3.160 million ounces of indicated silver resources at 1.53 g/t Ag contained within 64.3 Mt and 6.273 million ounces of inferred silver resources at 1.55 g/t Ag contained within 125.9 Mt. Results of a preliminary economic assessment ("PEA") of the Moss Gold Project suggest the potential for the deposit to support a long-life mining operation with a strong production profile and low production costs. The MRE and PEA are supported by a NI 43-101 technical report for the Moss Gold Project available on the Company's website and under the Company's issuer profile on SEDAR+. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company's website (www.goldx2.com).

Peter Flindell, PGeo, MAusIMM, MAIG, Chief Operating Officer, of the Company, and a qualified person under NI 43-101, has approved the scientific and technical information contained in this news release.

For More Information - Please Contact:

Michael Henrichsen
President, Chief Executive Officer and Director
Gold X2 Mining Inc.

E: mhenrichsen@goldx2.com
W: www.goldx2.com
T: 1-604-404-4335

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include, among others, statements relating to the exploration and development of the Moss Gold Project; the potential mineralization at the Moss Gold Project based on the current infill drilling program at the Main and Southwest Zones, including the potential for conversion of Inferred Mineral Resources to Indicated and for additional mineral resources; the potential for positive reconciliation against the existing resource model; expectations regarding meaningful increases in contained ounces and improvements in strip ratio; that the results will have a significant impact on the updated Mineral Resource Estimate targeted for Q1 2027 and on the future economic performance of the deposit; statements regarding the Company's future drill plans, including the expected benefits and results thereof; and other statements that are not historical facts.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management's expectations; the Company's exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company's limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; the Superion target may not add to the current mineral resource; and other risks associated with executing the Company's objectives and strategies as well as those risk factors discussed in the Company's continuous disclosure documents filed under the Company's SEDAR+ profile at www.sedarplus.ca.

The forward-looking information in this news release is based on management's reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company's ability to fund its programs; the Company's ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and effective manner; the Company's ability to obtain financing as and when required and on reasonable terms; that the Company's activities will be in accordance with the Company's public statements and stated goals; that the drilling program will add to the current mineral resource; that the Company's exploration work will deliver the results expected; and that there will be no material adverse change or disruptions affecting the Company or its properties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318844

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Gold X2 report from Moss Gold Project hole MMD-26-430?

MMD-26-430 returned a combined 172.0m at 0.96 g/t gold. Reported intervals included 39.0m at 1.31 g/t from 195.0m, 67.0m at 0.97 g/t from 255.0m, and 33.0m at 0.96 g/t from 334.0m.

When does Gold X2 target its next Moss mineral resource estimate?

Gold X2 targets an updated Moss mineral resource estimate for Q1 2027. Its ongoing infill and expansion programs aim to upgrade in-pit Inferred resource blocks to Indicated and expand the overall mineral resource inventory.

Why does Gold X2 describe the Moss drilling reconciliation as positive despite lower grades?

Gold X2 attributes the positive comparison to additional lower-grade secondary shears between primary shears and newly discovered marginal shears. The secondary shears had been modelled as waste and excluded from the current mineral resource estimate.

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