Gold X2 Intersects 258.4m of 0.97 g/t Au and 192.0m of 0.90 g/t Au in QES Extension Drilling

Gold X2 Mining Inc. (AUXX) released two new QES Extension drill results and a table of restated historical intercepts on 10 November 2026. All intercepts are reported above a 0.3 g/t Au cutoff with a top cut of 30 g/t and a maximum internal waste of 10 m, which was loosened from 5 m for the restated holes. The company states that true widths are 55–75% of core length and are printed per interval in the data tables.

• MQD-26-475, outside the RPEEE pit shell: 26.0 m at 1.75 g/t Au from 125.0 m (true width 15.0 m), including 22.0 m at 2.05 g/t and 2.35 m at 10.7 g/t — interpreted as the Boundary Zone, a separate shallow target 300–400 m southeast of the Moss deposit.
• MQD-26-475, deep QES: 258.35 m at 0.97 g/t Au from 603.0 m (true width 187.8 m), including 17.0 m at 2.08 g/t, 60.0 m at 1.02 g/t, 32.9 m at 2.00 g/t (24.3 m true width) and 18.0 m at 2.05 g/t (13.4 m true width).
• MQD-26-477, within the RPEEE pit shell: 192.0 m at 0.90 g/t Au from 447.0 m (true width 136.8 m), including 23.05 m at 2.65 g/t (17.1 m true width) with 6.0 m at 3.98 g/t.
• Restated, previously reported: MQD-25-326 198.45 m at 0.91 g/t from 759.0 m (true width 120.0 m); MQD-26-465 157.75 m at 0.90 g/t; MQD-26-474 173.0 m at 0.89 g/t (1.02 g/t uncut); MQD-25-181 100.75 m at 1.50 g/t.

The drilling programme has up to 63,000 m of expansion drilling planned, with approximately 19,000 m drilled to date. While 27 QES Extension holes have been collared, only two new holes were assayed in this release, with 25 pending results guided for November 2026.

Gold X2 Mining Inc. (AUXX) is not a grassroots explorer, holding a 2026 MRE of 2.458 moz Indicated at 1.04 g/t and 4.209 moz Inferred at 0.97 g/t. A filed PEA, released in January 2026, outlines an after-tax NPV5% of C$2.232bn and 22.1% IRR at US$2,750/oz. The project features a 13.2-year, ~265 koz/yr open pit operating at 0.88 g/t mill feed and a 5.3:1 strip ratio. As of 30 June 2026, the company holds C$105.6M of cash with no debt, while AngloGold Ashanti holds a ~9.9% stake.

The latest release extends demonstrated continuity to roughly 130 m below the pit shell at the best grade-and-true-width combination seen at depth so far. It also adds a separate shallow 26 m at 1.75 g/t lens outside the pit. As a rough geometric illustration, if the ~900 m target strike × ~188 m true width × ~100 m of down-dip extent were fully converted at ~0.95 g/t, that is on the order of 45 Mt and ~1.4 moz gross — perhaps 20% of the current MRE, arriving in the Q1 2027 estimate at best.

The stock peaked at C$11.58 on 4 March 2026, the day after the initial deep discovery hole (117 m at 1.21 g/t, 280 m below the pit) plus the PEA. It has since round-tripped to C$5.90 — 49% below the high and 46% below the C$10.95 level of early September. On 14 October, the market marked the shares down 11% on a single day (C$6.90 to C$6.15) when infill drilling reported shears 28–39% lower grade than modelled.

The shallow Boundary Zone hit is the most economically interesting number in the release:

• 26 m at 1.75 g/t
• 15 m true width
• 125 m from surface
• Outside the pit

Gold X2 Mining Inc. (AUXX) trades on the NYSE American and TSXV, following a 6:1 share consolidation completed in connection with its NYSE American listing in September 2026. The consolidation reduced the share count from approximately 606.7 million to approximately 101.1 million. The company is a pre-revenue gold developer.

Its flagship asset is the 100%-owned Moss Gold Project, located in the Shebandowan belt of Northwest Ontario on the Trans-Canada Highway with nearby hydroelectric power. The 2026 NI 43-101 Mineral Resource Estimate (MRE) reports 2.458 moz Indicated gold at 1.04 g/t (73.8 Mt) and 4.209 moz Inferred gold at 0.97 g/t (134.7 Mt). The resource also includes 3.160 moz Indicated silver at 1.53 g/t and 6.273 moz Inferred silver at 1.55 g/t.

A January 2026 Preliminary Economic Assessment (PEA) provided prior-period context, noting an after-tax NPV5% of C$2.232bn, a 22.1% IRR, and a 3.2-year payback at US$2,750/oz. The assessment assumed an initial capital expenditure of C$2.001bn, including a C$303M contingency, an all-in sustaining cost (AISC) of US$1,188/oz, a 30,000 t/d open-pit operation, a 13.2-year mine life, and approximately 265 koz/yr average payable gold.

The company’s land package comprises approximately 40,456 hectares, including the Kesselrun/Huronian and Bluffpoint acquisitions, the Star Lake option (10,540 ha, approximately 23 km east), the Coldstream claims, and the pending Bold Ventures claims. Corporate structure includes a proposed 1.00% Moss NSR spin-out into an unlisted SpinCo, with 0.2 SpinCo shares per Gold X2 share. AngloGold Ashanti holds approximately 9.9% with a joint technical committee and top-up rights, while Hess Capital serves as a strategic holder. Tom Obradovich chairs the company, which held C$105.6M in cash with no debt as of 30 June 2026.