Gold X2 Mining Inc. Drills 117m of 1.12g/t Au, Including 10m of 4.37g/t Gold

• Significant intercept at depth extends mineralization in the QES Zone at the Moss Gold Project with higher-grade shoots highlighting underground potential
  
  
• Near surface intercept in the Superion Zone demonstrates the potential to add to near surface resources

Michael Henrichsen, CEO of Gold X2, commented, "This drilling was designed to test the system for higher-grade mineralization that could potentially support underground mining in the future and to demonstrate the open pit can be extended to depth. The discovery of higher-grade mineralization 280 meters beneath the RPEEE pit represents a transformative development in our exploration process and growth trajectory of the project. Our team has worked very hard over the past year to advance our understanding of high-grade mineralization distribution within the deposit. This effort has yielded strong results, with our first drill hole confirming higher-grade mineralized shoots at depth. The Company plans to follow up promptly on these results to reveal the true potential of the mineralized system."

Highlights

• Two drillholes targeting shallowly plunging high-grade shoots within the core shears of the QES Zone up to 280 meters beneath the current RPEEE pit shell are illustrated in (Figure 1). The results not only confirm the continuity of the QES Zone at depth with the discovery of a new high-grade shoot, but also expand the Superion Zone near surface (Figure 2). See (Table 1) for full assays within the mineralized zone. Select higher-grade intercepts include:

• MQD-25-326:
  • Superion Zone: 23.0m of 1.01 g/t Au from 183.0m
  • QES Zone: 117.0m of 1.21 g/t Au from 816m, including
    • 19.0m of 3.33 g/t Au from 826.0 m, including
      • 10.0m of 4.37 g/t Au, including
        • 5.0m of 7.24 g/t Au

• MQD-25-330:
  • QES Zone: 28.95m of 1.18 g/t Au from 730.05m, including
    • 10.3m of 2.38 g/t Au from 746.0m

• Further exploration drilling will evaluate the continuity of broad mineralized shears that may lead to a deeper open pit, as well as the high-grade mineralization discovered in drill hole MQD-25-326 with the goal of defining a strike extensive higher-grade shoot. Potential underground mining methods and associated economic parameters will be evaluated once sufficient drilling is completed and the continuity of higher-grades confirmed.

Figure 1: Illustrates the drilling plan view with reported drilling holes highlighted in gold

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Figure 2: Shows the cross section with reported drill holes confirming continuity of the QES Zone 280 meters beneath the pit and expansion of the Superion Zone near surface.

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Technical Overview

The RPEEE pit defined in the recently released PEA was constrained by drill data that focused on the top 500 meters of the deposit. Structural analysis within the deposit revealed a repeating pattern of higher-grade shoots in the QES Zone that are plunging approximately 10 - 15 degrees to the northeast. Within the shallowly plunging higher-grade shoots, intersections between primary and secondary shear zones develop the highest-grade zones along steeply plunging intersection lineations, as intersected by MQD-25-171, which returned 124.35m of 1.65 g/t Au including 47m @ 3.08 g/t Au (release April 22, 2025) and MQD-22-014, which returned 128.3m @ 1.05 g/t Au including 40.6m @ 1.99 g/t Au (release May 3, 2022).

To test the concept of deeper mineralized shoots, Gold X2 drilled two holes, MQD-25-326 and MQD-25-330 which intersected the core shear zone approximately 280m and 60m, respectively, beneath the RPEEE pit shell. MQD-25-326 successfully intersected the next shallow plunging high-grade shoot. Both holes were drilled from the north side of QES so that they could also test for shallow marginal shears in Superion area.

MQD-26-326 was collared north of the Superion Zone and encountered mineralized sericite-silica altered sheared dacite volcanics, intersecting 11.4m of 0.51 g/t Au from 6.6m. The hole intersected a second sheared diorite package returning 23.0m of 1.01 g/t Au from 183.0m before encountering the main diorite complex at 300m. Both mineralized shears are not modelled in the current MRE and represent further opportunities to convert waste blocks into mineralized blocks in future MREs.

The hole intersected the QES Zone approximately 280m below the RPEEE pit shell and intersected the expected geology with mineralization hosted in sheared sericite-silica-hematite altered granodiorites and higher-grades correlating with increased shear intensity. The entire zone returned an intercept of 222m @ 0.88 g/t Au from 759m, including the headline 117.0m of 1.21 g/t Au, which suggests potential to significantly deepen the proposed open pit if further drilling confirms strike and depth continuity of the core shear zone.

Additionally, MQD-25-326 intersected a high-grade corridor returning 19.0m of 3.33 g/t Au from 826.0 meters. The interval contains two higher strain shear zones, which returned 10.0m of 4.37 g/t Au from 826.0m, including 5.0m of 7.24 g/t Au from 826.0m, and 2.0m of 7.15 g/t Au from 843.0m. The shallowly plunging high grade mineralized shoots within the Moss Gold Deposit demonstrate high grade continuity over several hundred meters that have been corroborated by recent grade control patterns and within the larger resource. Together this suggests an opportunity to define a potential higher-grade resource that may possibly be mined by underground methods. Gold X2 will conduct follow up on these initial results to demonstrate both grade and strike continuity at depth. Once the Company has a firmer understanding of the nature of the higher-grade mineralization, a study will commence to evaluate the appropriate underground mining method and economic parameters.

MQD-26-330 was collared north of QES, along the western edge of the Zone, intersecting the core shears at approximately 50 meters below the RPEEE pit shell. It collared into dacite volcanics and encountered diorite package at 300m before transitioning into the broad sheared sericite-silica-hematite altered granodiorite. The hole hit above the targeted and interpreted shallow plunging mineralization shoot into an inter-shoot zone of expected lower grade. Alteration and shear intensity were noticeably less than that seen in MQD-26-326 with intercepts of 30.0m of 0.52 g/t Au from 664.0m, 20.2m of 0.50 g/t Au from 704.8m and 28.95m of 1.18 g/t Au from 730.05m.

Further exploration drilling will continue to evaluate the continuity of broad mineralization and high-grade shears that provide an opportunity for significant resource growth. This will commence with wedged holes designed to step out in 50 - 100 meter increments from the above intercepts to more fully defined the proposed mineralization shoots and better define their geometry.

Figure 3: Hole MQD-25-326: Sheared, sericite-silica-hematite altered granodiorite yielding high grade intercepts of 19.0m of 3.33 g/t Au from 826.0m, including 10.0m of 4.37 g/t Au from 826.0m and 2.0m of 7.15 g/t Au from 843.0m

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Table 1: Significant intercepts

Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.

Table 2: Drill Collars

Table 3: Individual Assays across MQD-25-326 Mineralized Zone

Analytical and QA/QC Procedures

The NQ diameter drill core has been oriented using ACTIII or equivalent tools and validated in the core shack. All core has been sawed in half cut just off the core orientation line (bottom of hole) with the right half (looking down hole) of the core bagged and sent a third-party analytical laboratory. The left half of the core was returned to core boxes and is stored at Gold X2's Kashabowie core yard facility.

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analysed for gold via fire assay with an AA finish ("Au-AA23") and 48 pathfinder elements via ICP-MS after four-acid digestion ("ME-MS61"). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish ("Au-GRA21").

In addition to ALS quality assurance / quality control ("QA/QC") protocols, Gold X2 has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Gold X2 by Orix Geoscience Inc.

Qualified Person

Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company's health and safety policies in the field to ensure full compliance, and consulted with the Project's host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company's remediation protocols.

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 $100 million of new capital and completed approximately 100,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 300,000 meters of drilling. The 2026 updated NI 43-101 mineral resource estimate ("MRE") for the Moss and East Coldstream Deposits has expanded to 2.458 million ounces of Indicated gold resources at 1.04 g/t Au, contained within 73.8 million tonnes and 4.209 million ounces of Inferred gold resources at 0.97 g/t Au contained within 134.7 million tonnes. The Moss Deposit also has a silver MRE of 3.160 million ounces of indicated silver resources at 1.53 g/t Ag contained within 64.3 Mt and 6.273 million ounces of inferred silver resources at 1.55 g/t Ag contained within 125.9 Mt. Results of a preliminary economic assessment ("PEA") of the Moss Gold Project suggest the potential for the deposit to support a long-life mining operation with a strong production profile and low production costs. The MRE and PEA are supported by a NI 43-101 technical report for the Moss Gold Project which will be filed on SEDAR+ (www.sedarplus.ca) and the Company's website by March 12, 2026. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company's website (www.goldx2.com).

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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements regarding the Company's future drill plans, including the expected benefits and results thereof; that the Superion target has the potential to significantly add to the current mineral resource estimate within the top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; the potential for resource growth at Moss and the fact that the results have the potential to significantly impact the economic performance of the deposit moving forward; the potential for a much larger mineralized system and that it will be pursued in the near future through additional drilling; and other statements that are not historical facts.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management's expectations; the Company's exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company's limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; the Superion target may not add to the current mineral resource; and other risks associated with executing the Company's objectives and strategies as well as those risk factors discussed in the Company's continuous disclosure documents filed under the Company's SEDAR+ profile at www.sedarplus.ca.

The forward-looking information in this news release is based on management's reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company's ability to fund its programs; the Company's ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and effective manner; the Company's ability to obtain financing as and when required and on reasonable terms; that the Company's activities will be in accordance with the Company's public statements and stated goals; that the Superion target will add to the current mineral resource; that the Company's exploration work will deliver the results expected; and that there will be no material adverse change or disruptions affecting the Company or its properties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.