Gold X2 Discovers Extension to the Span Prospect with Intersection of 40.4m of 2.05 g/t Au from 343.6m Indicating the Potential NE Extension of the Moss Deposit
Gold X2 Discovers Extension to the Span Prospect with Intersection of 40.4m of
2.05 g/t Au from 343.6m Indicating the Potential NE Extension of the Moss
Deposit
VANCOUVER, B.C., September 8, 2026: Gold X2 Mining Inc. (NYSE American: AUXX / TSXV:
AUXX / FWB: DF80) (“Gold X2” or the “ Company”), is pleased to announce the results of its
phase one drilling campaign conducted at the Span Prospect, approximately 2 kilometers
northeast of the eastern edge of the Moss Gold Deposit in Northwest Ontario, Canada (the “Moss
Gold Project”).
Michael Henrichsen, CEO of Gold X2, commented, “We are encouraged with our early-stage
drilling at the Span prospect as we look to discover the northeast offset extension of the Moss
Deposit. The Company plans to follow up on the 40.4m of 2.05 g/t Au intercept with an additional
drill rig arriving on site this week to extend the mineralization toward the surface and to the east-
northeast.”
Highlights
• Eight holes were drilled along strike of the historical Span prospect to evaluate the
potential for near surface ounces. Drilling discovered a strongly mineralized set of shear
zones to the east of the historical drilling with an intercept of:
o 40.4m of 2.05 g/t Au from 343.6m in MSD-26-404m, including
▪ 24.05m of 3.17 g/t Au from 345.95m
• Drilling also discovered a second parallel shear hosted in a narrow Moss Deposit style
diorite intrusion with select intercepts of:
o 5.0m of 5.34 g/t Au from 161.0m in MSD-26-397, including
▪ 2.0m of 12.7 g/t Au from 161.0m
o 11.0m of 1.22 g/t Au from 233m in MSD-26-401
• An additional three holes were drilled into the existing Span Prospect to confirm historical
drilling results and continuity. Drilling intersected tightly spaced narrow shear zones that
returned results in line with historical drilling from the 1980s, including localized high-grade
shears within a lower-grade envelope. Select results include:
o 30.0m of 0.38 g/t Au from 377.0m in MSD-26-395
o 7.15m of 2.60 g/t Au from 262.9m in MSD-26-427, including
▪ 4m of 4.34 g/t Au from 265.0m in MSD-26-427
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Technical Overview
The results of eleven holes drilled into and along strike of the Span Prospect are illustrated in the
following figures and tables. Figure 1 shows the location map of the drill holes reported in this
release. Figure 2 provides a cross-section through the headline drill hole MSD-26-404. The results
are summarized in Tables 1 to 2, which include significant intercepts (Table 1) and drill hole
locations (Table 2).
Figure 1: Shows the location of the of the Span Prospect as a possible NE offset of the Moss Gold Deposit
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Figure 2: Shows the location of the drill holes across the Span Prospect
Figure 3: Shows a cross section through drill holes MSD-26-391 and MSD-26-404 with reported intersections
Gold X2 resumed its district exploration drill program with an 11-hole (4,581m) drilling campaign
at the Span Prospect, targeting the northeast offset extension of the Moss Deposit approximately
two kilometers northeast of the current resource pit boundary. The program was designed to
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confirm historical intercepts at the prospect and to explore for strike extensions and new shear
zones based on encouraging grab, soil, and geophysical results. The aim of the drill program is
to evaluate the potential to add a meaningful Inferred Mineral Resource to the current Moss Gold
Mineral Resource and expand the mine plan.
The Span Prospect was historically drilled by Inco during the late 1980s and again by Wesdome
Gold Mines in 2017. They noted nine mineralized zones hosted in sheared rhyolite with abundant
quartz-carbonate veining and moderate pyrite-chalcopyrite. They unsuccessfully attempted to
locate the extension of the Span Prospect by following mapped shears along a 65 ° strike, which
mimics the direction of the Moss Gold Deposit shears.
Gold X2 d rilling intersected a strongly silica and hematite altered dacitic volcanic unit with
localized meter-scale diorite dykes and interbedded, lesser altered andesitic volcanic rocks. The
main Span shear is hosted in sheared, sericite -silica-hematite altered dacites with 3-5% quartz
carbonate veining and elevated sulphides ranging from 2-5%. MSD-26-404, a 75m step-out hole,
followed a 45°-striking chargeability feature outlined by last year ’s expanded IP gradient array
program. It intersected the extension of the main Span shear in similar rocks with an intercept of
40.4m of 2.05 g/t Au from 343.6m, including 24.05m of 3.17 g/t Au from 345.95m.
A parallel shear was discovered approximately 200m northwest of the main Span shear. It is
hosted in narrow Moss-style granodiorite intrusion that shares a geochemical signature with the
primary Main and QES granodiorite bodies, which are significantly mineralized. A significant brittle
fault structure was also discovered northwest of the prospect, potentially representing the
extension of the Sloane fault, which lies immediately east of the QES Zone and suggested that
the Span Prospect may represent the faulted offset of the Moss Gold Deposit.
A follow-up drill program is being designed to explore further along strike , as well as infill the
prospect, to better understand the geological setting of the deposit. A third drill contractor is being
mobilized to conduct this program to prevent diverting resources from the primary Moss
expansion and infill drill programs. Drilling is expected to commence this month.
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Figure 3: Hole MSD-26-404: Moderately sheared sericite-silica-hematite altered dacite volcanic with 5-10% deformed
quartz carbonate veining and 3-5% disseminated pyrite with an intercept of 24.05m of 3.17 g/t Au from 349.95m,
within the larger intercept of 40.4m of 2.05 g/t Au from 343.6m.
Table 1: Significant intercepts
HOLE ID FROM TO LENGTH
(m)
TRUE WIDTH
(m)
CUT GRADE
(g/t Au)
UNCUT GRADE
(g/t Au)
MSD-26-391 329.00 341.00 12.00 9.6 0.39 0.39
MSD-26-394 346.00 349.00 3.00 2.4 0.38 0.38
MSD-26-395 131.00 133.00 2.00 1.5 0.54 0.54
MSD-26-395 260.00 264.00 4.00 3.2 0.33 0.33
MSD-26-395 327.90 332.00 4.10 3.3 1.08 1.08
MSD-26-395 329.00 331.00 2.00 1.6 1.45 1.45
MSD-26-395 377.00 407.00 30.00 24.8 0.38 0.38
MSD-26-395 382.00 385.55 3.55 2.9 1.48 1.48
MSD-26-397 56.00 58.00 2.00 1.4 0.58 0.58
MSD-26-397 161.00 166.00 5.00 3.9 5.34 5.34
MSD-26-397 161.00 163.00 2.00 1.5 12.7 12.7
MSD-26-397 268.00 273.00 5.00 4.0 1.20 1.20
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MSD-26-397 268.00 272.00 4.00 3.2 1.30 1.30
MSD-26-399 60.75 67.00 6.25 4.6 0.59 0.59
MSD-26-399 245.00 252.50 7.50 6.0 0.35 0.35
MSD-26-399 280.00 284.00 4.00 3.3 0.35 0.35
MSD-26-399 295.00 298.00 3.00 2.5 0.38 0.38
MSD-26-399 306.00 312.00 6.00 5.0 0.82 0.82
MSD-26-399 310.00 312.00 2.00 1.7 1.88 1.88
MSD-26-399 333.00 335.00 2.00 1.7 0.30 0.30
MSD-26-401 233.00 244.00 11.00 8.9 1.22 1.22
MSD-26-401 240.00 243.00 3.00 2.4 1.66 1.66
MSD-26-401 252.85 256.00 3.15 2.6 2.56 2.56
MSD-26-401 355.00 359.00 4.00 3.4 0.39 0.39
MSD-26-404 273.00 280.95 7.95 6.1 0.58 0.58
MSD-26-404 306.00 308.95 2.95 2.3 0.98 0.98
MSD-26-404 343.60 384.00 40.40 32.1 2.05 2.05
MSD-26-404 345.95 370.00 24.05 19.1 3.17 3.17
MSD-26-404 448.00 450.00 2.00 1.6 0.78 0.78
MSD-26-410 56.00 58.00 2.00 1.4 0.30 0.30
MSD-26-410 60.00 62.00 2.00 1.4 0.33 0.33
MSD-26-410 239.30 241.80 2.50 1.8 0.31 0.31
MSD-26-410 243.20 251.00 7.80 5.7 0.31 0.31
MSD-26-410 265.95 268.00 2.05 1.5 0.33 0.33
MSD-26-410 283.00 287.00 4.00 3.0 0.31 0.31
MSD-26-414 247.30 255.00 7.70 6.0 0.39 0.39
MSD-26-414 269.95 272.05 2.10 1.7 0.32 0.32
MSD-26-414 333.10 341.00 7.90 6.3 0.31 0.31
MSD-26-422 130.60 142.20 11.60 7.8 1.23 1.23
MSD-26-427 208.00 221.00 13.00 9.7 0.53 0.53
MSD-26-427 262.90 270.05 7.15 5.5 2.60 2.60
MSD-26-427 265.00 269.00 4.00 3.1 4.34 4.34
MSD-26-427 305.00 312.50 7.50 5.8 0.43 0.43
MSD-26-427 343.00 345.00 2.00 1.6 0.38 0.38
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
MSD-26-391 671,988 5,382,070 443 130.0 -44.8 405.00
MSD-26-394 671,881 5,381,949 450 130.1 -44.7 405.00
MSD-26-395 671,820 5,381,720 431 130.1 -44.8 408.00
MSD-26-397 671,620 5,381,585 449 129.9 -46.4 450.00
MSD-26-399 671,521 5,381,439 455 130.2 -44.5 426.00
MSD-26-401 671,321 5,381,323 476 129.8 -44.7 429.00
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MSD-26-404 672,519 5,381,652 432 310.0 -44.5 450.00
MSD-26-410 672,381 5,381,659 432 309.5 -45.6 351.00
MSD-26-414 672,351 5,381,547 431 310.1 -43.8 450.00
MSD-26-422 672,233 5,381,375 431 310.1 -42.6 456.00
MSD-26-427 672,124 5,381,385 430 310.1 -45.9 351.00
Analytical and QA/QC Procedures
All drill core is NQ diameter drill core has been visually validated in the core shack, rotated, and
reconnected. Structural orientation data was captured by acoustical and optical televiewer
operated by DGI Geosciences. All core has been sawed in half cut just off a geologist established
cutline aligned 90° from the apex of the foliation, 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.
Samples were split between Paragon Geochemical in Timmins and ALS Geochemistry in Thunder
Bay for sample preparation. Paragon samples were analysed for gold via PhotonAssay ™ (“PA-
AU02”) by Paragon’s laboratory in Hamilton and then shipped to Activation Laboratories (ActLabs)
Ancaster for 60 pathfinder elements via ICP-MS after four-acid digestion (“UT-6”). ALS samples
were analysed for gold via PhotonAssay (“Au-PA02”) in Thunder Bay and 48 pathfinder elements
via ICP-MS after four-acid digestion (“ME-MS61”) in Vancouver. Paragon, ALS, and ActLabs are
accredited by the Standards Council of Canada (SCC) for the Accreditation of Miner al Analysis
Testing Laboratories and CAN-P-4E ISO/IEC 17025.
In addition to Paragon and 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, Chief Operating Officer, 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
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and significant assay interval calculations. He has also overseen the Company’s health and safety
policies in the field to ensure full compliance and liaised 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 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 conta ined 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 available on the Company’s
website and under the Company’s issuer profile on SEDAR+. For more information, please visit
SEDAR+ (www.sedarplus.ca) and the Company’s website (www.goldx2.com).
For More Information – Please Contact:
Michael Henrichsen
President, Chief Executive Officer and Director
Gold X2 Mining Inc.
W: www.goldx2.com
T: 1-604-404-4335
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 event s 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