Gold X2 Drilling Intersects Multiple Shears Near Surface Including 32.8m of 1.22 g/t Au from 166.2m

Gold X2 Mining Inc. (AUXX) announced assay results from six infill and resource expansion holes drilled at the Main Zone of its Moss Gold Project in northwestern Ontario. Conducted over the ice on Snodgrass Lake, the winter drilling intersected multiple wide shear zones within the RPEEE pit.

The combined results indicate mineralized widths 72% wider than modeled in the current resource estimate, offset by a 12% reduction in grade. Key intercepts include 32.8m of 1.22 g/t Au from hole MMD-26-381 and 57.95m of 0.86 g/t Au from MMD-26-379.

These data points will be incorporated into an updated Mineral Resource Estimate targeted for Q4 2026 or Q1 2027.

Gold X2 Mining Inc. (AUXX) released results from its ongoing infill drilling campaign, which do not signal a new discovery or a step-change in project economics. Wider but lower-grade intervals have been a recurring theme across multiple drill batches; for example, the June 2, 2026 QES release showed 67% wider and 19% lower grade. Today’s numbers are consistent with that pattern.

While the additional volume may increase tonnage, the net effect on contained ounces and average grade remains uncertain. The resource base is already large, with 2.458 Moz Indicated at 1.04 g/t Au. The market already prices in the expectation that infill drilling will grow the resource. No new strategic investor, financing, or change in timeline is attached.

Gold X2 Mining Inc. (AUXX) is a Canadian exploration and development company focused on its wholly-owned Moss Gold Project, located in the Shebandowan Greenstone Belt approximately 105 km west of Thunder Bay, Ontario. The company’s land package, which exceeds 40,000 hectares, was consolidated through multiple acquisitions including Kesselrun, Coldstream, and the Star Lake option.

The project hosts a large, near-surface, bulk-tonnage gold deposit. An updated NI 43-101 Mineral Resource Estimate, effective 2026 and filed on 2026-05-27, outlines the following resources:

• Indicated: 2.458 Moz Au at 1.04 g/t (73.8 Mt) + 3.160 Moz Ag at 1.53 g/t.
• Inferred: 4.209 Moz Au at 0.97 g/t (134.7 Mt) + 6.273 Moz Ag at 1.55 g/t.

A Preliminary Economic Assessment (PEA) filed in March 2026 outlines an open-pit truck-and-shovel operation featuring a 30,000 t/d mill. Under base-case economics assuming US$2,750/oz Au, the project projects an after-tax NPV₅% of C$2.232 B, an IRR of 22.1%, and a 3.2-year payback period. Average annual production is estimated at approximately 265 koz Au, with all-in sustaining costs of US$1,188/oz. Initial capital expenditure is estimated at C$2.001 B, plus C$839 M in sustaining costs.

The project represents a low-grade, high-tonnage system, meaning its economic viability is highly levered to gold prices and the execution of a large-scale operation.