Gold X2 Enters Definitive Property Purchase Agreement with Bold Ventures Inc. and Completes Coldstream Claims Acquisition

The Bold transaction includes cash, common shares and a critical-minerals royalty, with TSXV approval still pending.

Rhea-AI Summary

Gold X2 Mining (AUXX) signed a definitive agreement to purchase mineral claims from Bold Ventures and completed its Coldstream Claims acquisition.

The Bold transaction provides for C$500,000 in cash, 150,000 Gold X2 common shares and a 2.00% net smelter return (NSR) royalty, a royalty based on mineral sales proceeds after applicable deductions. The royalty applies to all Canadian Critical Minerals derived from the acquired claims. The agreement advances a previously announced acquisition, but closing remains subject to conditions including TSXV approval.

Separately, Gold X2 completed its previously announced acquisition of all rights, title and interests in the Coldstream Claims, a mineral exploration property in Ontario. The Coldstream acquisition is completed; the Bold acquisition remains pending.

Positive

• Minor pointColdstream Claims acquisition completed, securing all rights, title and interests in the Ontario mineral exploration property.
• Minor pointDefinitive agreement signed to acquire mineral claims from Bold Ventures.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.C$500,000 cash consideration is payable for the Bold mineral claims.
• Minor point. Forward-looking: it has not happened yet and may not happen.150,000 common shares form part of the Bold acquisition consideration, diluting existing holders.
• Minor point. Forward-looking: it has not happened yet and may not happen.2.00% NSR royalty applies to all Canadian Critical Minerals derived from the Bold claims.
• Minor pointTSXV approval remains pending as a condition of closing the Bold acquisition.

Key Figures

Cash consideration: C$500,000 Share consideration: 150,000 common shares NSR royalty: 2.00%

Cash consideration

C$500,000

Bold Acquisition purchase consideration

Share consideration

150,000 common shares

Bold Acquisition purchase consideration

NSR royalty

2.00%

On Canadian Critical Minerals derived from the mineral claims

Key Terms

nsr royalty, ni 43-101, mre, preliminary economic assessment

4 terms

nsr royalty financial

"a 2.00% NSR royalty on all Canadian Critical Minerals"

A net smelter return (NSR) royalty is a payment to a rights holder equal to a fixed percentage of the money a mine actually receives from selling refined metal, after the costs of turning ore into a saleable product are taken out. Think of it like a toll collected on each shipment after it’s been cleaned and sold. For investors, NSR royalties matter because they create a steady revenue stream with lower operational risk for the royalty holder, while reducing the owner-operator’s share of project cash flow and affecting project valuation.

ni 43-101 regulatory

"The 2026 updated National Instrument 43-101"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

mre technical

"mineral resource estimate ("MRE") for the Moss and East Coldstream Deposits"

A mineral resource estimate (MRE) is a technical calculation of how much of a metal or mineral likely exists in a project area and how concentrated it is, using drilling, sampling and geological models. For investors it’s like a baker’s recipe that shows how much usable product you can expect and how reliable that forecast is — higher, more certain estimates can boost a project’s value and reduce investment risk.

preliminary economic assessment technical

"Results of a preliminary economic assessment ("PEA") of the Moss Gold Project"

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

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

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Vancouver, British Columbia--(Newsfile Corp. - November 2, 2026) - Gold X2 Mining Inc. (NYSE American: AUXX) (TSXV: AUXX) (FSE: DF80) ("Gold X2" or the "Company") is pleased to announce that it has entered into a definitive property purchase agreement with Bold Ventures Inc. with respect to the previously announced acquisition by the Company of certain mineral claims from Bold Ventures in exchange for C$500,000 in cash, share consideration of 150,000 common shares of the Company and a 2.00% NSR royalty on all Canadian Critical Minerals derived from such mineral claims (the "Bold Acquisition"). Closing of the Bold Acquisition remains subject to customary conditions precedent including TSXV approval.

Furthermore, the Company is pleased to announce it has successfully completed its previously announced acquisition of all of the rights, title and interests in and to the mineral exploration property known as the Coldstream Claims located in the Province of Ontario.

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. It is led by the ex-global head of structural geology for the world's largest gold company and backed by one of Canada's pre-eminent private equity firms. 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 profiles on SEDAR+ and EDGAR. For more information, please visit SEDAR+ (www.sedarplus.ca), EDGAR (www.sec.gov) 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.

ON BEHALF OF THE BOARD

"Michael Henrichsen"

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.

Forward-Looking Information

This news release contains information and statements that constitute "forward-looking information" or "forward-looking statements" under applicable securities laws (collectively, "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 the completion of the Bold Acquisition. 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: the receipt of required regulatory approvals;; 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 profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. 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. 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/321971

FAQ

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

What are the terms of Gold X2's Bold Ventures mineral claims acquisition?

Gold X2's definitive agreement provides for C$500,000 in cash, 150,000 common shares and a 2.00% NSR royalty on all Canadian Critical Minerals derived from the claims. Closing remains subject to conditions including TSXV approval.

Has Gold X2 completed the Coldstream Claims acquisition?

Gold X2 has completed its previously announced acquisition of all rights, title and interests in the Coldstream Claims, a mineral exploration property in Ontario. This is separate from the Bold Ventures acquisition, which remains pending.