Gold X2 Discovers Two Mineralized Shears on the Deaty Trend Including 17.0m @ 1.23 g/t Au

The February 5, 2026, news release reports assay results from a "scout" diamond drilling program at the Bunker target, located on the Deaty Trend of the Moss Gold Project. Four holes were completed. Key intercepts include 17.0m @ 1.23 g/t Au (Hole DBD-25-003) and 5.6m @ 2.24 g/t Au (Hole DBD-25-001). The drilling confirms two new mineralized shear zones (Sand Shear and Wedge Shear) under glacial cover. Additionally, the company granted 2.1 million stock options (exercise price $1.19) and 1.4 million RSUs to management and consultants.

The most recent news is material in a "Routine - Positive" sense. It confirms the effectiveness of the company's greenfield exploration techniques in identifying mineralization beneath cover, potentially expanding the project's footprint beyond the main Moss deposit. However, these results are lower grade than recent "grade control" drilling at the Main Zone (which saw 49m @ 2.13 g/t Au on Jan 30). In the context of the massive January 2026 milestones—specifically the $115 million strategic financing and the Preliminary Economic Assessment (PEA)—this drill news is incremental. The grant of options at $1.19, which is above the current market price, suggests management confidence in the higher valuation established during the recent strategic financing.

Gold X2 Mining (formerly Goldshore Resources) is developing the 100%-owned Moss Gold Project in Ontario, Canada. The project hosts an Indicated Resource of 2.12M oz Au and an Inferred Resource of 3.91M oz Au. The January 2026 PEA outlines a 13.2-year mine life producing 265,000 oz Au annually. The project is characterized by its massive scale but requires significant infrastructure and capital investment.