Gold X2 Drills 117m of 1.12g/t Au, Including 10m of 4.37g/t Au; High-Grade Zone Intersected 280m Beneath the Resource Pit Demonstrating Underground Potential at the Moss Gold Deposit
Gold X2 Drills 117m of 1.12g/t Au, Including 10m of 4.37g/t Au;
High-Grade Zone Intersected 280m Beneath the Resource Pit Demonstrating
Underground Potential at the Moss Gold Deposit
• 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
VANCOUVER, B.C., March, 3, 2026: Gold X2 Mining Inc. (TSXV: AUXX / OTCQB: GSHRF /
FWB: DF8) (“Gold X2” or the “Company”), is pleased to announce initial drilling results from two
drill holes targeting high grade mineralization at depth in the QES Zone at the Moss Gold Project
in Northwest Ontario, Canada (the “ Moss Gold Project”).
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 t he
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:
o 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
o 10.0m of 4.37 g/t Au, including
▪ 5.0m of 7.24 g/t Au
o 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
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.
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 intersect ed 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 in to 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
Table 1: Significant intercepts
HOLE ID FROM TO LENGTH (m) TRUE WIDTH
(m)
CUT GRADE
(g/t Au)
UNCUT GRADE
(g/t Au)
MQD-25-326 6.60 18.00 11.40 5.7 0.51 0.51
MQD-25-326 14.00 16.00 2.00 1.0 1.32 1.32
MQD-25-326 101.00 103.00 2.00 1.1 0.33 0.33
MQD-25-326 107.00 112.00 5.00 2.6 0.66 0.66
MQD-25-326 136.00 138.00 2.00 1.1 0.48 0.48
MQD-25-326 167.00 169.00 2.00 1.1 0.30 0.30
MQD-25-326 175.00 177.00 2.00 1.1 0.68 0.68
MQD-25-326 183.00 206.00 23.00 12.5 1.01 1.01
MQD-25-326 183.00 185.00 2.00 1.1 1.47 1.47
MQD-25-326 193.00 204.00 11.00 6.0 1.47 1.47
MQD-25-326 345.00 359.00 14.00 8.0 1.11 1.11
MQD-25-326 348.00 357.00 9.00 5.1 1.49 1.49
MQD-25-326 391.70 395.00 3.30 1.9 1.87 1.87
MQD-25-326 393.00 395.00 2.00 1.1 2.89 2.89
MQD-25-326 560.00 566.00 6.00 3.4 0.41 0.41
MQD-25-326 614.00 617.45 3.45 2.0 0.92 0.92
MQD-25-326 627.00 629.00 2.00 1.2 1.63 1.63
MQD-25-326 657.00 659.00 2.00 1.2 0.62 0.62
MQD-25-326 680.00 682.05 2.05 1.2 0.50 0.50
MQD-25-326 691.35 694.20 2.85 1.6 0.43 0.43
MQD-25-326 759.00 810.00 51.00 30.2 0.59 0.59
MQD-25-326 794.00 796.00 2.00 1.2 4.30 4.30
MQD-25-326 816.00 933.00 117.00 71.1 1.21 1.21
MQD-25-326 821.00 836.00 15.00 9.0 3.35 3.35
MQD-25-326 842.00 864.00 22.00 13.3 1.45 1.45
MQD-25-326 878.00 884.00 6.00 3.6 1.48 1.48
MQD-25-326 892.00 902.90 10.90 6.7 2.39 2.39
MQD-25-326 943.00 957.45 14.45 9.0 0.52 0.52
MQD-25-326 955.05 957.45 2.40 1.5 1.68 1.68
MQD-25-326 968.00 981.00 13.00 8.1 1.04 1.04
MQD-25-326 969.00 973.00 4.00 2.5 2.26 2.26
MQD-25-326 979.00 981.00 2.00 1.3 1.39 1.39
MQD-25-326 995.80 1001.00 5.20 3.3 0.33 0.33
MQD-25-326 1031.00 1049.00 18.00 11.5 0.90 0.90
MQD-25-326 1031.00 1035.00 4.00 2.5 3.16 3.16
MQD-25-330 14.00 16.00 2.00 8.1 0.48 0.48
MQD-25-330 174.00 181.00 7.00 1.2 0.60 0.60
MQD-25-330 210.00 220.35 10.35 4.8 0.33 0.33
MQD-25-330 226.00 231.00 5.00 7.1 0.34 0.34
MQD-25-330 244.00 249.65 5.65 3.4 1.28 1.28
MQD-25-330 261.00 268.00 7.00 3.9 1.20 1.20
MQD-25-330 265.00 267.00 2.00 4.8 3.38 3.38
MQD-25-330 316.85 324.00 7.15 1.4 0.81 0.81
MQD-25-330 320.90 324.00 3.10 5.0 1.37 1.37
MQD-25-330 445.55 448.00 2.45 2.2 1.06 1.06
MQD-25-330 519.00 528.00 9.00 1.8 0.58 0.58
MQD-25-330 519.00 522.00 3.00 6.5 1.12 1.12
MQD-25-330 606.00 617.00 11.00 2.2 0.43 0.43
MQD-25-330 631.00 638.00 7.00 8.1 0.57 0.57
MQD-25-330 651.30 654.00 2.70 5.2 0.48 0.48
MQD-25-330 664.00 694.00 30.00 2.0 0.52 0.52
MQD-25-330 674.00 682.00 8.00 22.3 1.01 1.01
MQD-25-330 704.80 725.00 20.20 5.9 0.50 0.50
MQD-25-330 730.05 759.00 28.95 15.1 1.18 1.18
MQD-25-330 746.00 756.30 10.30 21.8 2.38 2.38
MQD-25-330 777.00 779.00 2.00 7.8 0.44 0.44
MQD-25-330 785.35 787.55 2.20 1.5 0.39 0.39
MQD-25-330 791.45 794.00 2.55 1.7 0.98 0.98
MQD-25-330 805.65 807.95 2.30 1.9 0.54 0.54
MQD-25-330 825.50 828.10 2.60 1.8 0.62 0.62
MQD-25-330 837.00 846.00 9.00 2.0 0.80 0.80
MQD-25-330 855.00 867.35 12.35 6.9 0.70 0.70
MQD-25-330 860.05 864.00 3.95 9.6 1.09 1.09
MQD-25-330 889.00 897.45 8.45 3.1 1.79 1.79
MQD-25-330 894.15 896.65 2.50 6.6 5.20 5.20
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
MQD-25-326 669,659 5,379,900 430 136.1 -60.3 1056.00
MQD-25-330 669,486 5,379,810 430 143.0 -52.1 909.00
Table 3: Individual Assays across MQD-25-326 Mineralized Zone
BHID From To Length Sample Au ppm Ag ppm As ppm Cu ppm Mo ppm Te ppm
MQD-25-326 751.00 752.00 1.00 L192382 0.0025 0.050 1.3 14.7 0.440 0.025
MQD-25-326 752.00 753.00 1.00 L192384 0.0025 0.030 1.0 7.7 0.510 0.025
MQD-25-326 753.00 754.00 1.00 L192385 0.0410 0.120 0.6 52.0 0.710 0.110
MQD-25-326 754.00 755.00 1.00 L192386 0.0650 0.140 0.6 35.0 0.560 0.300
MQD-25-326 755.00 756.00 1.00 L192387 0.1190 0.180 0.6 66.6 2.080 0.730
MQD-25-326 756.00 757.40 1.40 L192388 0.2140 0.270 0.6 25.1 1.170 0.610
MQD-25-326 757.40 758.00 0.60 L192389 0.0820 0.320 0.4 32.9 0.070 0.330
MQD-25-326 758.00 759.00 1.00 L192390 0.1400 0.070 0.2 52.7 1.230 1.330
MQD-25-326 759.00 760.00 1.00 L192391 0.5700 0.890 0.5 180.5 7.450 1.430
MQD-25-326 760.00 761.00 1.00 L192392 1.1800 1.210 1.2 103.5 6.380 1.390
MQD-25-326 761.00 762.00 1.00 L192393 0.7900 0.890 0.7 190.0 8.500 3.240
MQD-25-326 762.00 763.00 1.00 L192394 0.6050 0.470 1.0 55.4 1.840 0.880
MQD-25-326 763.00 764.00 1.00 L192396 0.5200 0.360 1.3 45.8 1.240 0.690
MQD-25-326 764.00 765.00 1.00 L192397 0.1670 0.230 1.1 165.0 0.720 0.320
MQD-25-326 765.00 766.00 1.00 L192398 0.2260 0.330 1.0 138.5 1.050 0.400
MQD-25-326 766.00 767.00 1.00 L192399 0.3460 0.490 0.7 132.5 3.330 0.620
MQD-25-326 767.00 768.00 1.00 L192400 0.6310 0.580 0.6 77.7 0.740 0.970
MQD-25-326 768.00 769.00 1.00 L192401 0.9960 0.850 1.0 161.0 0.530 1.330
MQD-25-326 769.00 770.00 1.00 L192402 0.3340 0.330 1.5 70.3 0.540 0.590
MQD-25-326 770.00 771.00 1.00 L192403 0.7900 0.710 1.1 78.0 1.630 1.480
MQD-25-326 771.00 772.00 1.00 L192404 0.4270 0.390 1.0 40.7 1.540 0.800
MQD-25-326 772.00 773.00 1.00 L192406 0.9300 0.800 0.9 150.5 3.350 1.290
MQD-25-326 773.00 774.00 1.00 L192407 0.4060 0.590 1.6 150.5 0.590 0.650
MQD-25-326 774.00 775.00 1.00 L192408 0.5130 0.880 1.7 388.0 1.120 0.780
MQD-25-326 775.00 776.00 1.00 L192409 1.6300 1.950 2.0 507.0 1.150 2.560
MQD-25-326 776.00 777.00 1.00 L192410 0.2650 0.800 2.1 282.0 1.020 0.520
MQD-25-326 777.00 778.00 1.00 L192411 0.1080 0.630 1.8 246.0 1.320 0.400
MQD-25-326 778.00 779.00 1.00 L192412 0.2530 0.860 1.0 298.0 17.450 0.670
MQD-25-326 779.00 780.00 1.00 L192413 0.2510 1.680 0.9 805.0 2.010 0.480
MQD-25-326 780.00 781.00 1.00 L192414 0.1990 1.520 1.0 693.0 4.670 0.440
MQD-25-326 781.00 782.00 1.00 L192415 0.4190 2.320 0.3 577.0 3.540 1.190
MQD-25-326 782.00 783.00 1.00 L192417 0.2060 0.910 1.1 446.0 1.920 0.420
MQD-25-326 783.00 784.00 1.00 L192418 0.4980 2.770 2.9 1130.0 0.780 1.120
MQD-25-326 784.00 785.00 1.00 L192419 0.3250 1.840 3.3 881.0 1.800 0.750
MQD-25-326 785.00 786.00 1.00 L192420 0.7030 2.520 1.6 815.0 4.690 1.800
MQD-25-326 786.00 787.00 1.00 L192421 0.3210 1.800 0.6 1030.0 5.820 0.500
MQD-25-326 787.00 788.00 1.00 L192422 0.4490 1.980 0.9 1055.0 34.100 0.530
MQD-25-326 788.00 789.00 1.00 L192423 0.4160 2.430 1.1 1170.0 5.650 0.770
MQD-25-326 789.00 790.00 1.00 L192424 0.2940 2.390 1.3 1240.0 2.020 0.360
MQD-25-326 790.00 791.00 1.00 L192425 0.5130 3.990 0.9 1965.0 19.000 0.650
MQD-25-326 791.00 792.00 1.00 L192427 0.6730 4.260 1.1 2100.0 3.750 0.770
MQD-25-326 792.00 793.00 1.00 L192428 0.2270 0.770 0.9 391.0 2.120 0.290
MQD-25-326 793.00 794.00 1.00 L192429 0.3660 0.670 1.0 553.0 6.150 0.530
MQD-25-326 794.00 795.00 1.00 L192430 7.1000 6.630 0.7 554.0 7.280 10.150
MQD-25-326 795.00 796.00 1.00 L192431 1.5050 1.540 0.7 287.0 1.280 2.460
MQD-25-326 796.00 797.00 1.00 L192433 0.3180 0.430 1.4 70.2 26.900 0.570
MQD-25-326 797.00 798.00 1.00 L192434 0.1450 0.230 0.6 38.7 0.490 0.300
MQD-25-326 798.00 798.75 0.75 L192435 0.2200 0.370 1.4 97.3 26.500 0.340
MQD-25-326 798.75 799.20 0.45 L192436 0.2910 0.520 1.2 86.5 0.350 0.400
MQD-25-326 799.20 800.00 0.80 L192437 0.1220 0.170 1.7 17.6 0.390 0.220
MQD-25-326 800.00 801.00 1.00 L192438 0.0950 0.090 1.0 133.5 1.070 0.100
MQD-25-326 801.00 802.00 1.00 L192439 0.7380 0.800 1.1 100.5 17.950 1.300
MQD-25-326 802.00 803.00 1.00 L192440 0.4120 0.530 0.8 18.0 20.000 0.970
MQD-25-326 803.00 804.00 1.00 L192441 0.2540 0.250 0.2 30.8 220.000 0.570
MQD-25-326 804.00 805.00 1.00 L192442 0.1320 0.130 0.8 22.1 2.460 0.320
MQD-25-326 805.00 806.00 1.00 L192444 0.1870 0.130 0.5 23.7 15.500 0.490
MQD-25-326 806.00 807.00 1.00 L192445 0.2150 0.160 0.5 41.1 3.070 0.550
MQD-25-326 807.00 808.00 1.00 L192446 0.2510 0.360 1.3 89.3 4.050 0.500
MQD-25-326 808.00 809.00 1.00 L192447 0.4130 0.460 0.6 201.0 3.770 0.690
MQD-25-326 809.00 810.00 1.00 L192448 0.4340 0.610 0.1 234.0 6.510 0.630
MQD-25-326 810.00 811.00 1.00 L192449 0.1960 0.250 1.3 89.4 3.720 0.340
MQD-25-326 811.00 812.00 1.00 L192450 0.1910 0.230 1.4 40.6 0.540 0.310
MQD-25-326 812.00 813.00 1.00 L192451 0.0650 0.100 1.4 22.7 0.480 0.110
MQD-25-326 813.00 814.00 1.00 L192452 0.0980 0.220 0.9 92.1 1.420 0.050
MQD-25-326 814.00 815.00 1.00 L192454 0.1890 0.520 0.8 119.5 0.400 0.390
MQD-25-326 815.00 816.00 1.00 L192455 0.2370 0.550 1.1 198.5 1.180 0.370
MQD-25-326 816.00 817.00 1.00 L192456 0.4080 1.080 1.3 570.0 0.620 0.380
MQD-25-326 817.00 818.00 1.00 L192457 0.9240 2.250 0.7 1180.0 0.580 2.050
MQD-25-326 818.00 819.00 1.00 L192458 0.8470 1.160 0.9 372.0 0.730 1.030