Gold X2 Delineates 5 Kilometer Anomalous Mineralized Trend South of the Moss Gold Deposit

Rhea-AI Summary

Gold X2 (OTCQB: GSHRF) completed integrated geophysical and bedrock geochemistry targeting at the Moss Gold Project (Northwest Ontario) and identified a 5-kilometer anomalous mineralized trend in the Deaty Trend and expanded targets along an at least 8-kilometer Moss Trend.

Work included 27 line-km OreVision pole-dipole, 263.8 line-km gradient array surveys, 1,567 bedrock grab samples, and 141 top-of-bedrock drill holes. Several targets were classified as drill-ready and a 1,500‑metre scout drill program at the Bunker prospect is planned to commence in October 2025.

Positive

• Systematic dataset: 1,567 bedrock samples and 141 top-of-bedrock holes
• Geophysical coverage: 27 line-km pole-dipole and 263.8 line-km gradient array
• 5 km combined anomalous mineralized trend outlined in Deaty Trend
• 1,500 m scout drill program at Bunker scheduled for October 2025

Negative

• Deaty targets have limited top-of-bedrock drilling, reducing immediate confidence
• Some prospects (Confluence, Cedric) lack geochemical sampling and require follow-up
• Deaty mineralization differs from Moss, implying different exploration models and possible added complexity

Vancouver, British Columbia--(Newsfile Corp. - October 16, 2025) - Gold X2 Mining Inc. (TSXV: AUXX) (OTCQB: GSHRF) (FSE: 8X00) ("Gold X2" or the "Company"), is pleased to announce the successful completion of a comprehensive geochemical and geophysical targeting initiative at the Moss Gold Project in Northwest Ontario, Canada (the "Moss Gold Project"), designed to unlock the potential of previously unrecognized mineralized zones. Utilizing holistic interpretation techniques based on quality systematic datasets, the company has identified high-potential targets that mirror the signature of the Moss Gold deposit, one of the region's most prolific gold discoveries.

Michael Henrichsen, CEO of Gold X2 commented, "Our 2025 exploration program at Moss has successfully demonstrated the emerging nature of Moss and the district's significant potential. We're thrilled to have outlined multiple high-priority targets across our Deaty and Moss Trends, showcasing the potential for further gold discoveries. With several drill-ready targets, we're well-positioned to unlock value through systematic exploration, and we look forward to commencing drilling at the Bunker target in October."

Highlights

• Systematic bedrock geochemistry sampling and Moss-style geophysical fingerprints have identified several prospects in the Deaty Trend that comprise a 5-kilometer-long zone of gold anomalism within four primary targets.

• Exploration has also better defined the Moss Trend, which is displaced across two NNE-striking faults, and covers a total strike length of at least 8 kilometers. This includes:
  • the 1.6-kilometer-long Moss Nose target that represents the offset portion of the Moss Deposit to the south.
  • an expansion of the near-pit Superion prospect to be 700 meters long and 500 meters wide; and
  • several parallel prospects from 600 to 1,500 meters long immediately to the south of Moss and in a trend between Moss and Deaty that require follow-up.

• Targets have been prioritized for follow-up surface exploration with several drill-ready targets defined. A 1,500-meter scout drill program at the Bunker prospect will commence in October.

Figure 1: Geophysical targeting map with gold in bedrock targets

To view an enhanced version of this graphic, please visit:
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Technical Overview

Figure 1 shows a combined targeting map utilizing the systematic bedrock geochemistry coverage, defined structures, and the Moss Deposit geophysical signature to define robust target areas. Figure 2 shows the distribution of geophysical and geochemical datasets collected for this program. Figure 3 outlines a systematic gold in bedrock geochemistry heat map at the Moss Gold deposit.

Geophysical and Geochemical Exploration Methodology

Gold X2 conducted an extensive exploration program over the Moss Block, an area of 34 km² covering cell claims and leases surrounding the Moss Gold Deposit and the known 13-kilometer long Deaty Trend in the south. The program included geophysical surveys run by Abitibi Geophysics, bedrock grab sampling from the summer of 2024, and top of bedrock drilling in the winter of 2024/25 (Figure 2) as follows:

• 27 line kilometers of OreVision pole-dipole survey covering the Moss Gold deposit to fingerprint the induced polarization signature of the mineralized system. Fifteen NW-SE oriented survey lines were 1.8 kilometers long and 200 meters apart, and dipoles were on a spacing of 25 meters.
• 263.8 line kilometers of gradient array with 100-meter spaced lines in nine NW-SE oriented survey blocks that varied in length from 1.15 to 3.675 kilometers long.
• 1,567 unbiased surface grab samples of bedrock on 400-meter spaced lines
• 141 top of bedrock drill holes drilled on 50-meter centers along 400-800-meter spaced lines crossing areas of overburden cover.

Where suitable, historically completed work was utilized, including a 2016 Wesdome geophysical survey, and surface grab samples collected by Gold X2 in 2022-2023.

The geochemical grid was designed following a 2024 study of the Moss Gold drillhole database (news release November 25, 2024). This study demonstrated that the Moss Gold deposit could be effectively identified through a 400 x 50-meter grid sampling program, where a recognizable deposit signature typically involves multiple samples exhibiting a strong prospectivity score defined by gold and various weighted pathfinder elements for Moss-style mineralization (Ag, Te, Cu, Bi, S).

A geophysical fingerprinting exercise was completed by Invert Geophysics which has been applied over the expanded survey to locate additional Moss style signatures. This work also led to the development of a new 2D geological and structural model emphasizing the importance of late sinistral NNE-striking strike-slip faults.

A 1,500-meter scout drilling program has been planned, targeting the non-winter accessible "Bunker" target to determine characteristics of the bedrock source of geophysical and geochemical anomalism.

Figure 2: Map showing the distribution of geophysical and geochemical datasets collected for this program

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Geophysics

The IP pole-dipole and gradient array data was collected and compiled by Abitibi Geophysics over the February to May 2025 period and processed by Invert Geophysics over the summer. In combination with data from a 2021 airborne magnetic survey, this modelling resulted in the creation of a 3D resistivity-chargeability-magnetic model based on modelled inversions, which was then cross-referenced with Gold X2's drill assay dataset from the Moss Gold Deposit.

The Moss Gold Deposit does not correspond to a single high or low geophysical anomaly (e.g., a distinctive chargeability high, as was thought by previous explorers) but instead aligns with specific levels observed across the IP datasets. Specifically, gold mineralization at Moss corresponds with a trend line of signatures that occur in chargeability-resistivity space from 10 mV/V and 1,000 m to 20 mV/V and 100,000 m, respectively.

This geophysical "fingerprint" was highlighted across the survey area as prospective geophysical targets for Moss-style mineralization. This approach was successfully tested against the Moss Nose target area, where surface gold mineralization is hosted in a similar stratigraphic environment to the Moss Gold Deposit. Based on this successful correlation, additional "Moss fingerprinted" areas identified in the survey have been integrated into the targeting strategy.

The survey results have highlighted two late fault structures along the east and west of the Moss Gold Deposit, believed to be sinistrally offsetting mineralization approximately 1 kilometer (Figure 1 & 3). The location of these structures suggest that mineralization trends extend further along strike but not in the direct extensions targeted by historical exploration.

In addition to successfully replicating known target areas, such as Moss Nose, Span and the Tamavack and "main" Deaty prospects recognized by previous explorers, the survey identified numerous additional prospects along the Deaty Trend, including Bunker, Confluence and Cedric. The Bunker target was further explored with the top of bedrock drilling campaign, while the Confluence and Cedric targets are defined by their geophysical signatures similar to the Moss Deposit. Both the Confluence and Cedric targets have yet to be geochemically sampled and have only been tested by top of bedrock drilling along their peripheries.

Geochemistry

Initial interpolated grid images were created using gold and pathfinder geochemistry that fingerprints the Moss-style mineralization (Ag, Te, Cu, Bi, S). This defined clear targets in most areas, but missed zones of bedrock mineralization, such as Span, that were defined by purely historical data containing only gold assays. As a result, the final geochemical image (Figure 4) is based on gold geochemistry only, though in detail the Company is refining targets with the pathfinder geochemistry.

Moss Main, Southwest and QES zones are well defined because of the large amount of drill data available for analysis. Targets to the north, such as Superion are also clear as localised NE-striking gold anomalies. Gold anomalism extends to the northwest through Span and southwest through Moss Nose where sinistral offsets across the Till Valley and Span Faults are clear.

Anomalies in the Deaty Trend are not as well defined as the Moss Gold Deposit because of a more restricted top of bedrock drill dataset but clearly show strong anomalism in several targets within the Trend. Priority targets include the 1.6-kilometer-long Bunker anomaly, 1.4-kilometer-long Cedric prospect and 1.8-kilometer-long Deaty target. The latter has had some historical drilling on the periphery that showed that the system is gold bearing.

When combined with the geophysical fingerprints, targets along the Deaty Trend expand into areas largely inaccessible to the top of bedrock drilling, as seen in the Cedric and Confluence targets which merge into a single 3.5-kilometer-long anomaly. Top of bedrock drilling and relogging of historical drilling have noted that the Deaty mineralization is different to the Moss Gold deposit and is instead hosted within an epidote-hematite altered porphyritic andesite, explaining its different geophysical signature. Together, geophysical and geochemical anomalies in the Deaty Trend have been outlined over a combined 5-kilometer trend of anomalous mineralization.

Figure 3: Systematic gold in bedrock geochemistry from outcrop grab sampling and top of bedrock drilling.

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Analytical and QA/QC Procedures

All core has been sawed in half cut just off the core orientation line (bottom of hole) 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. Grab samples were selected from outcrop so as to provide a specimen that was representative of the local lithology and removed using hand tools.

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analysed for gold via fire assay with an AA finish ("Au-AA23") and 48 pathfinder elements via ICP-MS after four-acid digestion ("ME-MS61"). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish ("Au-GRA21").

In addition to ALS 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, Vice-President, Exploration, 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. 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 Company has invested over $75 million of new capital and completed approximately 100,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 255,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate ("MRE") has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au, contained within 38.96 million tonnes and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au, contained within 146.24 million tonnes. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see NI 43-101 technical report titled: "Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada," dated March 20, 2024 with an effective date of January 31, 2024 available under the Company's SEDAR+ profile at www.sedarplus.ca. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company's website (www.goldx2.com)

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 expectations regarding the exploration and development of the Moss Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements regarding the Company's future drill plans, including the expected benefits and results thereof; that the Superion target has the potential to significantly add to the current mineral resource estimate within the top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; the potential for resource growth at Moss and the fact that the results have the potential to significantly impact the economic performance of the deposit moving forward; the potential for a much larger mineralized system and that it will be pursued in the near future through additional drilling; 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 Superion target 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/270625

FAQ

What did Gold X2 announce about the Moss Gold Project on October 16, 2025 (GSHRF)?

Gold X2 reported a combined geophysical and geochemical program that defined a 5-km anomalous trend and expanded Moss Trend targets to at least 8 km, with several drill-ready targets.

How extensive was Gold X2's field program at Moss (GSHRF)?

The program included 27 line-km pole-dipole, 263.8 line-km gradient array surveys, 1,567 bedrock grab samples and 141 top-of-bedrock drill holes.

When will Gold X2 begin drilling at the Bunker target (GSHRF)?

A 1,500‑metre scout drill program at Bunker is planned to commence in October 2025.

What makes the new targets 'Moss-style' for Gold X2 (GSHRF)?

Targets match a geophysical fingerprint in chargeability-resistivity space and geochemical signatures that correlate with the Moss Deposit's drill dataset.

Which Deaty Trend targets did Gold X2 highlight for follow-up (GSHRF)?

Priority Deaty targets named include Bunker (1.6 km), Cedric (1.4 km) and a 1.8 km Deaty target, with some merging into a 3.5 km anomaly.

Are any identified targets lacking data that investors should note (GSHRF)?

Yes; Confluence and Cedric have geophysical signatures but have not been geochemically sampled and require additional work.