AUXX.V · 2026-01-30 12:00:00

Gold X2 Announces Positive Reconciliation in Main Zone Grade Control Drilling with Intercepts Including 49.0m of 2.13 g/t Au

Drill Results

Gold X2 Announces Positive Reconciliation in Main Zone Grade Control Drilling

with Intercepts Including 49.0m of 2.13 g/t Au

VANCOUVER, B.C., January 30, 2026: Gold X2 Mining Inc. (TSXV: AUXX / OTCQB: GSHRF /

FWB: DF8) (“Gold X2” or the “Company”), is pleased to announce the fourth and final batch of

assay results from its Main Zone grade control drill program, with eleven shallow holes targeting

the marginal to core shears within the Main Zone at the Moss Gold Project in Northwest Ontario,

Canada (the “Moss Gold Project”).

Michael Henrichsen, CEO of Gold X2 commented, "We took the proactive step to derisk the

resource model by conducting close-spaced drilling that emulates grade control drilling in a

producing mine, to ensure we have a thorough understanding of the distribution of the gold

mineralized shears at the mine scale. We have conducted a reconciliation exercise to understand

how the resource model will perform in a potential mining scenario, and the results are very

encouraging. Grade control drilling has identified additional, previously unrecognized secondary

shear zones that have been assigned as waste in the current resource model. From this, we

expect the upcoming infill drill program, with a tighter drill spacing , to grow the resource and

significantly enhance the project's overall economics and mine plan."

Highlights

• Assay results from the final eleven holes in the Main Zone grade control drill program

continue to strengthen confidence in the continuity of wide, near-surface, high-grade shear

corridors defining the center of the Moss Main Zone. Select drill intercepts include:

o 73.8m of 1.30 g/t Au from 7.0m in MMD-25-235, including

▪ 32.0m of 1.29 g/t Au from 31.0m, and

▪ 10.8m of 2.50 g/t Au from 69.0m

o 61.25m of 1.53 g/t Au from 2.75m in MMD-25-253, including

▪ 6m of 3.60 g/t Au from 23m, and

▪ 8m of 4.90 g/t Au from 35m

o 60.0m of 0.94 g/t Au from 118.0m in MMD-25-254, including

▪ 12.4m of 2.13 g/t Au from 119.0m

o 48.0m of 1.20 g/t Au from 118.0m in MMD-25-257, including

▪ 6.0m of 4.64 g/t Au from 154.0m

o 82.0m of 0.89 g/t Au from 22.0m in MMD-25-259, including

▪ 7.0m of 3.13 g/t Au from 48.0m

o 49.0m of 2.13 g/t Au from 43.0m in MMD-25-261, including

▪ 15.0m of 3.43 g/t Au from 49.0m, and

▪ 3.0m of 12.4 g/t Au from 71.0m

• Reconciliation of all drill intercepts against those predicted by the current resource model

shows 23% more and/or wider shears with an 8% drop in grade, which demonstrates the

potential for positive implications for future resource models. Specifically, the reconciliation

shows that there are additional low-grade secondary shears that have not been included

in the resource model because of the wider spacing of the exploration drill holes.

Technical Overview

The results of the current grade control drill program are illustrated in the following figures and

tables. Figure 1 shows the location map of the drill holes reported in this release, relative to the

Moss Main grade control drill program. Figure 2 provides a cross -section of drill holes MMD-25-

232, MMD-25-253, MMD-25-260, and MMD-25-261 representing the third easternmost section of

the pattern. The results are summarized in Tables 1-1, which include significant intercepts (Table

1), drill hole locations (Table 2 ) and the reconciliation between actual drill intercepts and those

predicted by the current resource model (Table 3).

Figure 1: Illustrates the Moss Main grade control drill program. Drill holes being reported are highlighted in gold.

Figure 2: Shows a type section with reported intersections relative to the current resource block model highlighted in

gold.

Gold X2 designed two grade control drilling programs that have been drilled on a 12.5 -meter

diamond-shaped pattern:

• The Main Zone pattern covers a volume that is approximately 110 meters along strike, 70

meters across strike and 90-160 meters vertical depth. This program was completed with

61 drillholes (10,953m) and all assays have been received.

• The QES Zone pattern covers a volume that is 100 meters along strike, 70 meters across

strike and 100-170 meters vertical depth. The program was completed with 58 drillholes

(11,004m) with assays pending.

Both programs aimed to investigate the short distance behaviour of gold mineralization, informing

the determination of the optimal drill spacing required to upgrade Inferred Mineral Resources to

Indicated Mineral Resources in preparation for the upcoming Feasibility-level infill program.

Additionally, the remaining half core will supply the required volume of sample for the upcoming

Feasibility-level metallurgical studies. Finally, the tight space d drilling provides mining -level

precision that will derisk the Mineral Resource Estimate through a reconciliation analysis.

The results from the Main Zone pattern have supported the transition from modelling individual

shear zones to shear corridors. Higher grade anastomosing shears can be traced within well-

defined shear corridors that host a series of interweaving primary and secondary shears. Defining

these mineralization-controlling feature s will allow for increased confidence in resource

estimation, leading to an increased volume of Indicated blocks, and optimization of the infill drill

program. The wider shear corridors will also improve mine design scenarios through optimizing

the mining block size, fleet selection and mine dilution expectations.

The geological model created over the Main Zone grade control pattern confirms the preference

for mineralization to occur within diorite-granodiorite intrusions. Shears are parallel to sub-parallel

to intrusion contacts, but do not show any measurable difference in gold mineralization where

they cross intrusion contacts. Shear intensity within intrusions correlates well with gold grades

with higher intensity shearing returning higher gold grades. However, there is a significant

decrease in gold mineralization where marginal shears cross into a wedge of dacitic volcanic wall

rocks in the northern portion of the pattern . This is despite the dacite being locally intensely

sheared.

Sericite, silica, albite and hematite alteration types have a modest positive correlation with gold

mineralization, but this may be more a function of the diorite host rocks being preferentially altered

by these assemblages. Chlorite and carbonate alteration occurs pervasively through the system

showing no correlation with the gold mineralization. Epidote alteration, on the other hand, has a

consistent negative correlation with gold mineralization within all phases of diorite. The

development of an epidote alterati on model will be considered for inclusion in future geological

models.

Assay results for the entire 61-hole Main Zone grade control pattern have been compared against

expected intercepts from the current resource model (Table 3) . The total combined intercept

lengths from grade control drilling are 23% larger than is expected from the resource model, while

the average grade is 8% lower. This reflects additional lower-grade secondary shears that have

not been well defined by drilling on the exploration spacing of 50 meters and therefore not

modelled. This has the potential for a n overall positive impact of reduc ing the volume of blocks

modelled as waste, while adding potentially ore-grade blocks.

Figure 3: Hole MMD-25-261: Section of intermixed sheared sericite-chlorite-silica altered diorites and sheared

sericite-silica-hematite altered granodiorites yielding high grade intercepts of 15.0m of 3.43 g/t Au from 49.0m and

3.0m of 12.4 g/t Au from 71.0m, both included in the wider interval of 49.0m of 2.13 g/t Au from 43.0m.

Table 1: Significant intercepts

HOLE ID FROM TO LENGTH

(m)

TRUE WIDTH

(m)

CUT GRADE

(g/t Au)

UNCUT GRADE

(g/t Au)

MMD-25-224 25.40 33.70 8.30 5.9 0.46 0.46

MMD-25-224 47.95 51.00 3.05 2.2 0.90 0.90

MMD-25-224 58.00 63.30 5.30 3.8 0.41 0.41

MMD-25-224 91.40 127.65 36.25 26.0 0.82 0.82

MMD-25-224 102.00 105.00 3.00 2.2 3.58 3.58

MMD-25-224 113.00 115.00 2.00 1.4 4.15 4.15

MMD-25-224 139.70 151.95 12.25 8.8 0.47 0.47

MMD-25-224 165.00 171.00 6.00 4.3 0.37 0.37

MMD-25-224 178.00 197.00 19.00 13.7 0.62 0.62

MMD-25-224 216.30 225.80 9.50 6.9 2.49 2.49

MMD-25-235 7.00 80.80 73.80 52.5 1.30 1.30

MMD-25-235 8.00 21.40 13.40 9.5 1.35 1.35

MMD-25-235 31.00 63.00 32.00 22.8 1.29 1.29

MMD-25-235 69.00 79.80 10.80 7.7 2.50 2.50

MMD-25-235 101.00 103.00 2.00 1.4 0.33 0.33

MMD-25-235 112.00 138.70 26.70 19.1 0.92 0.92

MMD-25-235 112.00 123.00 11.00 7.8 1.63 1.63

MMD-25-235 145.00 152.00 7.00 5.0 0.54 0.54

MMD-25-252 33.65 65 31.35 22.2 0.80 0.80

MMD-25-252 43.00 47.00 4.00 2.8 1.12 1.12

MMD-25-252 49.90 54.00 4.10 2.9 2.38 2.38

MMD-25-252 74.00 103.00 29.00 20.7 0.98 0.98

MMD-25-252 76.00 102.00 26.00 18.5 1.04 1.04

MMD-25-252 109.10 130.00 20.90 15.1 0.43 0.43

MMD-25-252 140.00 153.00 13.00 9.4 2.02 2.02

MMD-25-252 140.00 151.75 11.75 8.5 2.19 2.19

MMD-25-252 172.00 186.00 14.00 10.2 0.37 0.37

MMD-25-253 2.75 64.00 61.25 43.3 1.53 1.53

MMD-25-253 7.00 12.00 5.00 3.5 1.87 1.87

MMD-25-253 23.00 29.00 6.00 4.2 3.60 3.60

MMD-25-253 35.00 43.00 8.00 5.7 4.90 4.90

MMD-25-253 53.10 56.00 2.90 2.1 1.12 1.12

MMD-25-253 77.00 95.00 18.00 12.9 0.42 0.42

MMD-25-253 103.50 106.00 2.50 1.8 1.53 1.53

MMD-25-253 126.15 129.00 2.85 2.0 1.85 1.85

MMD-25-253 148.00 150.00 2.00 1.4 0.48 0.48

MMD-25-254 25.35 32.00 6.65 4.7 0.45 0.45

MMD-25-254 44.00 52.80 8.80 6.2 0.61 0.61

MMD-25-254 63.00 66.15 3.15 2.2 0.50 0.50

MMD-25-254 73.00 108.10 35.10 24.9 0.57 0.57

MMD-25-254 78.00 81.00 3.00 2.1 1.69 1.69

MMD-25-254 118.00 178.00 60.00 43.1 0.94 0.94

MMD-25-254 119.00 131.40 12.40 8.9 2.13 2.13

MMD-25-254 160.00 168.70 8.70 6.3 1.82 1.82

MMD-25-254 195.65 203.00 7.35 5.3 0.95 0.95

MMD-25-254 195.65 200.00 4.35 3.1 1.37 1.37

MMD-25-255 1.13 69.00 67.87 48.1 0.77 0.77

MMD-25-255 17.00 22.00 5.00 3.5 3.63 3.63

MMD-25-255 44.00 59.00 15.00 10.7 1.09 1.09

MMD-25-255 89.00 102.00 13.00 9.3 0.62 0.62

MMD-25-255 122.00 128.00 6.00 4.3 0.42 0.42

MMD-25-255 147.00 149.00 2.00 1.5 0.57 0.57

MMD-25-257 11.00 16.50 5.50 3.9 0.42 0.42

MMD-25-257 21.65 25.00 3.35 2.4 1.53 1.53

MMD-25-257 33.00 63.00 30.00 21.5 0.89 0.89

MMD-25-257 42.00 45.00 3.00 2.1 2.09 2.09

MMD-25-257 51.00 59.00 8.00 5.7 1.58 1.58

MMD-25-257 91.00 112.00 21.00 15.2 0.67 0.67

MMD-25-257 104.00 110.55 6.55 4.7 1.10 1.10

MMD-25-257 118.00 166.00 48.00 34.9 1.20 1.20

MMD-25-257 133.00 136.00 3.00 2.2 2.69 2.69

MMD-25-257 154.00 160.00 6.00 4.4 4.64 4.64

MMD-25-258 7.00 28.00 21.00 14.9 0.81 0.81

MMD-25-258 14.00 24.00 10.00 7.1 1.17 1.17

MMD-25-258 33.35 47.00 13.65 9.7 1.04 1.04

MMD-25-258 37.00 45.85 8.85 6.3 1.33 1.33

MMD-25-258 53.00 79.00 26.00 18.6 0.72 0.72

MMD-25-258 76.00 78.00 2.00 1.4 2.16 2.16

MMD-25-258 86.00 97.00 11.00 7.9 0.58 0.58

MMD-25-258 93.00 97.00 4.00 2.9 1.34 1.34

MMD-25-258 105.65 123.00 17.35 12.5 1.09 1.09

MMD-25-258 111.00 122.00 11.00 8.0 1.47 1.47

MMD-25-258 145.00 149.00 4.00 2.9 0.74 0.74

MMD-25-259 22.00 104.00 82.00 58.2 0.89 0.89

MMD-25-259 34.00 39.00 5.00 3.5 1.89 1.89

MMD-25-259 48.00 55.00 7.00 5.0 3.13 3.13

MMD-25-259 77.00 84.00 7.00 5.0 1.23 1.23

MMD-25-259 92.65 104.00 11.35 8.1 1.08 1.08

MMD-25-259 113.00 117.00 4.00 2.9 0.51 0.51

MMD-25-259 132.00 161.00 29.00 20.9 0.63 0.63

MMD-25-260 13.00 18.00 5.00 3.5 0.31 0.31

MMD-25-260 29.00 32.00 3.00 2.1 0.42 0.42

MMD-25-260 38.00 69.00 31.00 22.2 0.58 0.58

MMD-25-260 47.00 55.00 8.00 5.7 1.04 1.04

MMD-25-260 75.00 107.20 32.20 23.4 1.21 1.21

MMD-25-260 88.00 92.00 4.00 2.9 5.34 5.34

MMD-25-260 104.00 107.20 3.20 2.3 1.46 1.46

MMD-25-260 120.00 132.00 12.00 8.8 0.46 0.46

MMD-25-260 139.00 159.00 20.00 14.7 1.37 1.37

MMD-25-260 142.00 152.00 10.00 7.4 2.39 2.39

MMD-25-260 177.10 182.00 4.90 3.6 0.72 0.72

MMD-25-261 8.40 37.00 28.60 20.3 0.62 0.62

MMD-25-261 14.00 19.00 5.00 3.5 1.14 1.14

MMD-25-261 43.00 92.00 49.00 35.1 2.13 2.44

MMD-25-261 49.00 64.00 15.00 10.7 3.43 3.43

MMD-25-261 71.00 74.00 3.00 2.2 12.4 17.5

MMD-25-261 99.00 101.25 2.25 1.6 0.93 0.93

MMD-25-261 115.00 130.00 15.00 10.9 2.00 2.00

MMD-25-261 120.00 130.00 10.00 7.3 2.83 2.83

MMD-25-261 150.95 167.00 16.05 11.8 0.49 0.49

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

HOLE EAST NORTH RL AZIMUTH DIP EOH

MMD-25-224 668,829 5,379,201 437 149.7 -45.2 231.00

MMD-25-235 668,885 5,379,173 431 149.5 -45.2 162.00

MMD-25-252 668,858 5,379,185 432 150.7 -45.3 186.00

MMD-25-253 668,866 5,379,153 432 150.7 -45.2 150.00

MMD-25-254 668,852 5,379,195 432 151.4 -45.4 207.00

MMD-25-255 668,884 5,379,158 432 150.9 -45.2 150.00

MMD-25-257 668,812 5,379,136 430 151.1 -45.1 171.00

MMD-25-258 668,869 5,379,166 432 150.3 -44.9 162.00

MMD-25-259 668,823 5,379,140 430 150.6 -44.2 162.00

MMD-25-260 668,850 5,379,182 432 150.7 -45.5 195.00

MMD-25-261 668,858 5,379,167 431 150.0 -45.0 171.00

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