Gold X2 Mining Announces Filing of Q3 Financial Statements

Gold X2 Mining (OTCQB: GSHRF) filed its Q3 interim financial statements and accompanying MD&A, now available on SEDAR+.

Rhea-AI Summary

Gold X2 Mining (OTCQB: GSHRF) filed its Q3 interim financial statements and accompanying MD&A, now available on SEDAR+.

The company highlights the advanced-stage 100% owned Moss Gold Project in Ontario, noting >$75 million of new capital invested and ~100,000 meters of drilling completed by the company (total project drilling ~255,000 meters).

The 2024 NI 43-101 MRE (effective Jan 31, 2024) reports 1.54 million oz Indicated at 1.23 g/t Au (38.96 Mt) and 5.20 million oz Inferred at 1.11 g/t Au (146.24 Mt). The MRE covers 3.6 km of a 35+ km mineralized trend and the filing references the March 20, 2024 technical report.

Positive

• $75 million of new capital invested in Moss Project
• 100,000 meters drilled by the company on Moss
• Project total drilling of ~255,000 meters
• 1.54 million oz Indicated at 1.23 g/t Au
• 5.20 million oz Inferred at 1.11 g/t Au

Negative

• MRE covers only 3.6 km of the 35+ km mineralized trend

Argus Dec 1 session

+4.93% close to close Open Argus

Details

News Market Reaction – GSHRF

On Dec 1, the first trading day after this news, GSHRF closed 4.93% above the previous close.

Data tracked by StockTitan Argus for the Dec 1 session.

Key Figures

Capital invested: $75 million Company drilling: 100,000 meters Total drilling: 255,000 meters +5 more

Capital invested

$75 million

New capital invested in Moss Gold Project

Company drilling

100,000 meters

Drilling completed by Gold X2 at Moss Gold Project

Total drilling

255,000 meters

Aggregate drilling at Moss Gold Project

Indicated resource

1.54 million ounces

Indicated gold resources in 2024 NI 43-101 MRE

Indicated grade

1.23 g/t Au

Average grade for Indicated resource (38.96 Mt)

Inferred resource

5.20 million ounces

Inferred gold resources in 2024 NI 43-101 MRE

Inferred grade

1.11 g/t Au

Average grade for Inferred resource (146.24 Mt)

Trend coverage

3.6 km of 35+ km

Portion of mineralized trend covered by current MRE

Historical Context

5 past events · Latest: Dec 01

5 events

1. Dec 01

   Project acquisition

   24h Move

   +4.9%

   Completed Kesselrun acquisition, expanding Moss-contiguous land and exploration upside.

2. Nov 28

   Financial filing

   24h Move

   +4.9%

   Filed Q3 financials and highlighted scale and growth potential of Moss resource.

3. Nov 26

   M&A arrangement

   24h Move

   +4.6%

   Shareholder and court approval of Kesselrun plan of arrangement with Gold X2.

4. Nov 13

   Drill results

   24h Move

   -2.0%

   Released strong grade control drilling with multiple long, near-surface gold intervals.

5. Nov 07

   Project update

   24h Move

   +0.3%

   Updated environmental baseline studies at Moss and announced equity incentives.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ni 43-101, mineral resource estimate, indicated, inferred, +1 more

5 terms

ni 43-101 regulatory

"The 2024 updated NI 43-101 mineral resource estimate ("MRE") has expanded"

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.

mineral resource estimate technical

"2024 updated NI 43-101 mineral resource estimate ("MRE") has expanded"

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.

indicated technical

"expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au"

Indicated describes a medical use or patient group for which a drug, device, or treatment has been shown or authorized to work; it's like a label that says which problem the product is meant to fix. For investors, a new or expanded indication can directly change a product’s potential sales and market size, similar to a store adding a new aisle of goods that attracts more customers.

inferred technical

"and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au"

Inferred means a conclusion or piece of information drawn from available clues rather than directly observed or confirmed. For investors, an inference is like reading a weather forecast from cloud patterns: it helps form expectations about a company’s performance or risks when hard data is missing, but it carries uncertainty and should be weighed alongside verified facts.

g/t au technical

"1.54 million ounces of Indicated gold resources at 1.23 g/t Au"

g/t Au stands for grams per tonne of gold and measures how much gold is contained in one tonne of rock or ore. Investors use it like a yield rate: higher g/t Au means more gold recovered from the same amount of material, which usually improves a mine’s revenue potential and lowers production cost per unit of metal. Think of it as the sweetness level of fruit—more sugar per piece makes each piece more valuable.

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Vancouver, British Columbia--(Newsfile Corp. - November 28, 2025) - Gold X2 Mining Inc. (TSXV: AUXX) (OTCQB: GSHRF) (FSE: DF8) ("Gold X2") is pleased to announce that it has filed its third quarter interim financial statements and the accompanying Management's Discussion and Analysis ("MD&A") which are available on SEDAR+ at www.sedarplus.ca.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276320

FAQ

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

What did Gold X2 (GSHRF) file on November 28, 2025?

Gold X2 filed its Q3 interim financial statements and accompanying MD&A on SEDAR+.

Where can investors access Gold X2 (GSHRF) Q3 financials and MD&A?

The documents are available on SEDAR+ at www.sedarplus.ca under the company's profile.

How much capital has Gold X2 (GSHRF) invested in the Moss Gold Project?

The company reports it has invested over $75 million of new capital into the Moss Gold Project.

What are the key mineral resource numbers for Moss reported in 2024 for GSHRF?

The 2024 NI 43-101 MRE shows 1.54M oz Indicated @ 1.23 g/t and 5.20M oz Inferred @ 1.11 g/t.

How much drilling has Gold X2 completed on Moss as reported in the filing?

Gold X2 completed approximately 100,000 meters of drilling; the project totals ~255,000 meters of historical and recent drilling.

Does the 2024 MRE cover the entire Moss mineralized trend for GSHRF?

No — the MRE encompasses 3.6 km of a reported 35+ km mineralized trend.