Gold X2 completes mineral claim buy from Bold Ventures

Gold X2 Mining Inc. (AUXX) has finalized the acquisition of 42 unpatented mining claims from Bold Ventures Inc., situated adjacent to the company’s Moss gold project near Thunder Bay, Ontario. The transaction consideration comprises $500,000 in cash, 150,000 common shares, and a 2% Net Smelter Return (NSR) royalty on Canadian critical minerals, excluding copper, which includes a buyback option for half the royalty at $1 million. The acquired claims carry an existing 3% NSR royalty, half of which may be purchased for $2.5 million.

The company also reiterated its updated NI 43-101 mineral resource estimate for the Moss and East Coldstream deposits, which includes 2.458 million ounces of Indicated gold at 1.04 g/t Au, and 4.209 million ounces of Inferred gold at 0.97 g/t Au. A preliminary economic assessment (PEA) supports the potential for a long-life, low-cost mining operation. Concurrently, the company reported QES extension drilling results showing 258.4m of 0.97 g/t Au and 192.0m of 0.90 g/t Au, demonstrating continuity of broad mineralization down-dip from the current pit shell.

Gold X2 Mining Inc. (AUXX) has completed an acquisition that expands its contiguous land package surrounding the Moss deposit, a move designed to provide additional exploration upside and infrastructure flexibility. The company’s updated resource estimate and preliminary economic assessment (PEA) metrics align with previous announcements, confirming the project's scale and economic viability.

Drilling results from the QES extension have validated the down-dip expansion strategy, reinforcing the feasibility timeline and resource conversion pathway. These developments represent a logical execution of the company's 2026 exploration and corporate strategy, providing incremental confidence in the project's development trajectory.

Gold X2 Mining Inc. (AUXX) is a gold exploration and development company focused on its 100%-owned Moss Gold Project in Northwest Ontario. The company’s flagship project features a preliminary economic assessment with a base-case after-tax net present value of $2.23 billion and an internal rate of return of 22.1% at a gold price of $2,750/oz.

The company’s land package has expanded to approximately 40,456 hectares following the acquisition of the Kesselrun, Star Lake, and Bold Ventures properties. Gold X2 Mining is currently advancing a 160,000-meter drill program scheduled for 2026, which is focused on resource expansion, infill conversion, and near-deposit exploration.