AUXX.V · 2026-02-24 12:00:00

Gold X2 Mining Defines Additional High Grade Corridors with Intersects of 87.0m

Drill Results

of 1.75 g/t Au and 83.0m @ 1.56 g/t Au at QES Zone Grade Control Drilling

VANCOUVER, B.C., February, 24, 2025: Gold X2 Mining Inc. (TSXV: AUXX / OTCQB: GSHRF

/ FWB: DF8) (“Gold X2” or the “ Company”), is pleased to announce all assay results from its

QES grade control drill program, with fifty-eight shallow holes targeting the marginal and core

shears within the QES Zone at the Moss Gold Project in Northwest Ontario, Canada (the “ Moss

Gold Project”).

Michael Henrichsen, CEO of Gold X2 commented, "The grade control drill program has been a

success, confirming the presence of the modelled shears and grades that form the basis of our

resource model. In addition, the drilling has consistently found additional mineralization that was

unmodelled in the form of secondary shear zones. This effectively is demonstrating that we will

be adding ounces and reducing our strip ratio , with the potential to add significant value to the

project through the ongoing infill drill program. ”

Highlights

• Assay results from the fifty -eight holes from the QES grade control drill program have

confirmed the continuity of the wide, near-surface, high -grade shear corridors central to

the QES pattern. Select drill intercepts include:

o 49.0m of 1.86 g/t Au from 55.0m in MQD-25-262, including

▪ 30.2m of 2.76 g/t Au from 69.8m

o 51.5m of 1.77 g/t Au from 70.5m in MQD-25-265, including

▪ 44.0m of 1.96 g/t Au from 78.0m

o 84.0m of 1.15 g/t Au from 141.0m in MQD -25-285, including

▪ 22.0m of 1.80 g/t Au from 161.0m

▪ 18.0m of 1.99 g/t Au from 206.0m

o 67.0m of 1.37 g/t Au from 143.0m in MQD -25-288, including

▪ 15.0m of 3.33 g/t Au from 195.0m

o 87.0m of 1.75 g/t Au from 156.0m in MQD -25-310, including

▪ 31m of 2.88 g/t Au from 168.0m

o 83.0m of 1.56 g/t Au from 110.0m in MQD -25-316, including

▪ 4.5m of 12.8 g/t Au from 154.0m

▪ 15.0m of 2.17 g/t Au from 177.0m

o 82.0m of 1.37 g/t Au from 139.0m in MQD -25-317, including

▪ 27.0m of 1.70 g/t Au from 150.0m

▪ 11.0m of 1.93 g/t Au from 187.0m

▪ 17.0m of 1.72 g/t Au from 204.0m

o 76.9m of 1.22 g/t Au from 118.1m in MQD -25-320, including

▪ 19.25m of 1.66 g/t Au from 145.0m

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

shows 32% more shears. While drilling confirmed the gold grades in the primary shears,

the overall 13% drop in grade reflects the discovery of additional low -grade secondary

shears between the primary shear corridors that are currently modelled as waste . This is

the same trend seen in the Moss Main grade control pattern (reported on January 30,

2026) and is expected to continue through the upcoming infill drill prog ram.

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. Figure 2 provides

a cross -section through drill holes MQD-25-310, -312, -321, -324 and -325 representing the

second easternmost section of the pattern. The results are summarized in Tables 1 to 3, 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 QES grade control drill program.

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

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 reported on January 30, 2026.

• 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) and all assays have been received .

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

the determination of the optimal drill spacing 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 .

The results from the QES Zone pattern have outlined a more consistent shear system than

currently modelled, similar to what was noted at the Main Zone pattern. The drilling identified two

primary shear corridors with a ~10 ° variability in dip and strike resulting in the two corridors

approaching each other towards the east and with depth . Better intercepts from the primary

shears include 84.0m of 1.15 g/t Au from 141 .0m in MQD -25-285, 87.0m of 1.75 g/t Au from

156.0m in MQD-25-310, 83.0m of 1.56 g/t Au from 110.0m in MQD-25-316, and 82.0m of 1.37 g/t

Au from 139.0m in MQD-25-317.

Additional secondary shears, not modelled in the updated mineral resource, occur between the

two primary corridors returning mineralized intervals including 13.0m of 0.66 g/t Au from 139.0m

in MQD-25-268, 20.0m of 0.42 g/t Au from 125.0m in MQD -25-293, and 19.05m of 0.56 g/t Au

from 123.95m in MQD -25-292.

The logging data aligns well with the existing understanding that the QES Zone is primarily hosted

in a wide sheared quartz-eye granodiorite. All holes collared into 30-50m of overburden with some

instances of shallower overburden than currently modelled. The southern holes first intersect ed

the southern dacite volcanic package prior to intersecting the granodiorite complex. A 50 -meter

wide, weakly sheared and mineralized diorite is intersected between the volcanics and

granodiorite.

The granodiorite is broadly sericite -hematite-silica altered with intensity increasing with stronger

shearing and broad chlorite alteration seen in all units. In contrast to the Main Zone, which showed

a negative correlation between epidote alteration and gold mineralization, the northern

mineralized shear corridor has weak to moderate epidote alteration.

Assay results for the QES 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 32% wider than is expected from the current resource model . The overall

average grade is 13% lower, despite the results confirming the grades in the primary shears. This

reflects discovery of additional lower-grade secondary shears that have not been well defined by

drilling due to the exploration spacing of 50 meters and the reliance on historical assays in the

area. This has an overall positive impact in that the additional low-grade secondary shears replace

zones of poorly mineralized wall rock currently modelled as waste.

Figure 3: Hole MQD-25-316: Sheared, sericite-silica granodiorite yielding high grade intercepts of 4.5m of 12.8 g/t Au

from 154.0m, as part of a greater intercept of 83.0m of 1.56 g/t Au from 110.0m.

Table 1: Significant intercepts

HOLE ID FROM TO LENGTH (m) TRUE

WIDTH (m)

CUT GRADE

(g/t Au)

UNCUT GRADE

(g/t Au)

MQD-25-262 55.00 104.00 49.00 37.6 1.86 1.86

MQD-25-262 59.00 61.45 2.45 1.9 1.46 1.46

MQD-25-262 69.80 100.00 30.20 23.2 2.76 2.76

MQD-25-262 125.00 139.00 14.00 10.9 0.84 0.84

MQD-25-262 128.00 135.00 7.00 5.4 1.18 1.18

MQD-25-262 145.00 164.00 19.00 14.9 1.05 1.05

MQD-25-262 145.00 153.00 8.00 6.3 1.95 1.95

MQD-25-263 53.00 63.00 10.00 7.3 1.19 1.19

MQD-25-263 55.00 63.00 8.00 5.8 1.30 1.30

MQD-25-263 68.30 86.00 17.70 13.0 1.17 1.17

MQD-25-263 68.30 83.30 15.00 11.0 1.30 1.30

MQD-25-263 108.00 110.00 2.00 1.5 0.61 0.61

MQD-25-263 117.00 125.00 8.00 5.9 0.52 0.52

MQD-25-263 136.00 154.00 18.00 13.4 2.98 2.98

MQD-25-263 140.50 152.00 11.50 8.6 4.44 4.44

MQD-25-265 58.00 65.35 7.35 5.6 0.34 0.34

MQD-25-265 70.50 122.00 51.50 39.8 1.77 1.77

MQD-25-265 78.00 122.00 44.00 34.0 1.96 1.96

MQD-25-265 138.75 154.00 15.25 11.9 0.41 0.41

MQD-25-265 162.00 171.05 9.05 7.1 0.93 0.93

MQD-25-265 169.00 171.05 2.05 1.6 2.60 2.60

MQD-25-266 63.00 100.85 37.85 29.0 1.26 1.26

MQD-25-266 88.85 100.85 12.00 9.2 2.99 2.99

MQD-25-266 119.00 128.00 9.00 7.0 0.71 0.71

MQD-25-266 125.00 127.00 2.00 1.6 2.65 2.65

MQD-25-266 135.90 156.30 20.40 15.9 0.61 0.61

MQD-25-267 49.35 58.00 8.65 6.6 1.34 1.34

MQD-25-267 52.00 56.00 4.00 3.0 2.46 2.46

MQD-25-267 64.00 66.00 2.00 1.5 0.31 0.31

MQD-25-267 73.00 76.00 3.00 2.3 0.37 0.37

MQD-25-267 85.05 150.00 64.95 50.3 1.05 1.05

MQD-25-267 106.00 144.00 38.00 29.5 1.60 1.60

MQD-25-267 167.00 194.00 27.00 21.3 1.02 1.02

MQD-25-267 181.00 194.00 13.00 10.3 1.29 1.29

MQD-25-268 63.00 67.00 4.00 3.1 0.65 0.65

MQD-25-268 87.00 97.00 10.00 7.7 0.69 0.69

MQD-25-268 90.00 93.00 3.00 2.3 1.74 1.74

MQD-25-268 105.00 111.00 6.00 4.7 0.92 0.92

MQD-25-268 105.00 107.00 2.00 1.6 1.83 1.83

MQD-25-268 116.50 131.00 14.50 11.3 1.56 1.56

MQD-25-268 118.30 128.00 9.70 7.6 2.05 2.05

MQD-25-268 139.00 152.00 13.00 10.2 0.66 0.66

MQD-25-268 149.95 152.00 2.05 1.6 1.24 1.24

MQD-25-268 168.00 170.80 2.80 2.2 0.33 0.33

MQD-25-268 178.00 193.20 15.20 12.0 1.87 1.87

MQD-25-268 179.00 192.00 13.00 10.3 2.07 2.07

MQD-25-270 68.70 72.60 3.90 3.1 0.75 0.75

MQD-25-270 89.00 92.00 3.00 2.4 0.36 0.36

MQD-25-270 109.10 113.00 3.90 3.1 0.50 0.50

MQD-25-270 127.00 164.00 37.00 30.1 1.07 1.07

MQD-25-270 134.00 156.00 22.00 17.9 1.50 1.50

MQD-25-270 175.00 178.00 3.00 2.5 0.75 0.75

MQD-25-270 194.00 220.00 26.00 21.5 0.78 0.78

MQD-25-270 203.00 217.00 14.00 11.6 1.10 1.10

MQD-25-271 48.50 50.50 2.00 1.5 0.33 0.33

MQD-25-271 59.00 62.00 3.00 2.2 1.07 1.07

MQD-25-271 108.20 155.00 46.80 34.6 0.84 0.84

MQD-25-271 120.00 122.00 2.00 1.5 2.69 2.69

MQD-25-271 142.00 153.00 11.00 8.2 1.52 1.52

MQD-25-271 161.00 190.00 29.00 21.8 0.40 0.40

MQD-25-271 205.00 210.00 5.00 3.8 2.25 2.25

MQD-25-271 208.00 210.00 2.00 1.5 4.98 4.98

MQD-25-272 56.65 92.00 35.35 27.0 2.21 2.21

MQD-25-272 58.00 89.00 31.00 23.7 2.44 2.44

MQD-25-272 99.00 102.00 3.00 2.3 0.58 0.58

MQD-25-272 117.95 132.70 14.75 11.4 1.74 1.74

MQD-25-272 121.00 132.70 11.70 9.1 2.13 2.13

MQD-25-272 138.90 141.00 2.10 1.6 0.79 0.79

MQD-25-273 60.00 70.00 10.00 7.4 0.31 0.31

MQD-25-273 78.25 118.00 39.75 29.6 1.38 1.38

MQD-25-273 78.25 83.00 4.75 3.5 1.02 1.02

MQD-25-273 89.00 113.00 24.00 17.9 1.81 1.81

MQD-25-273 138.00 140.00 2.00 1.5 0.67 0.67

MQD-25-273 147.00 162.00 15.00 11.4 0.69 0.69

MQD-25-273 157.00 160.00 3.00 2.3 1.92 1.92

MQD-25-275 81.45 85.00 3.55 2.6 0.51 0.51

MQD-25-275 92.60 114.70 22.10 16.6 0.67 0.67

MQD-25-275 92.60 98.45 5.85 4.4 1.36 1.36

MQD-25-275 126.00 134.00 8.00 6.1 0.83 0.83

MQD-25-275 128.00 130.00 2.00 1.5 2.16 2.16

MQD-25-275 147.00 206.00 59.00 45.3 0.70 0.70

MQD-25-275 164.00 175.00 11.00 8.4 1.99 1.99

MQD-25-275 222.85 231.00 8.15 6.3 0.99 0.99

MQD-25-275 227.00 231.00 4.00 3.1 1.69 1.69

MQD-25-276 63.55 72.00 8.45 6.3 0.51 0.51

MQD-25-276 79.00 140.00 61.00 46.3 1.06 1.06

MQD-25-276 85.00 87.50 2.50 1.9 1.65 1.65

MQD-25-276 94.00 99.00 5.00 3.8 1.01 1.01

MQD-25-276 104.00 106.00 2.00 1.5 1.11 1.11

MQD-25-276 112.25 132.00 19.75 15.1 2.16 2.16

MQD-25-276 160.00 185.00 25.00 19.4 0.52 0.52

MQD-25-277 60.00 70.10 10.10 7.4 0.93 0.93

MQD-25-277 62.00 69.00 7.00 5.1 1.11 1.11

MQD-25-277 80.80 84.60 3.80 2.8 3.13 3.13

MQD-25-277 117.00 120.00 3.00 2.2 0.57 0.57

MQD-25-277 128.20 133.00 4.80 3.5 1.41 1.41

MQD-25-277 128.20 132.00 3.80 2.8 1.69 1.69

MQD-25-278 54.00 81.70 27.70 20.3 0.44 0.44

MQD-25-278 71.45 75.00 3.55 2.6 1.08 1.08

MQD-25-278 87.00 90.00 3.00 2.2 1.68 1.68

MQD-25-278 101.00 116.00 15.00 11.1 0.31 0.31

MQD-25-278 120.00 166.50 46.50 35.0 0.84 0.84

MQD-25-278 125.00 127.00 2.00 1.5 2.83 2.83

MQD-25-278 142.55 155.00 12.45 9.4 1.58 1.58

MQD-25-278 180.00 222.00 42.00 32.3 0.60 0.60

MQD-25-278 193.00 198.00 5.00 3.8 1.06 1.06

MQD-25-278 218.00 222.00 4.00 3.1 1.56 1.56

MQD-25-279 99.00 113.00 14.00 10.9 2.02 2.02

MQD-25-279 133.95 154.00 20.05 15.8 0.43 0.43

MQD-25-279 162.00 177.00 15.00 11.9 1.38 1.38

MQD-25-279 165.00 172.00 7.00 5.5 2.32 2.32

MQD-25-280 61.00 63.00 2.00 1.5 0.60 0.60

MQD-25-280 83.00 106.00 23.00 16.9 0.59 0.59

MQD-25-280 113.00 116.00 3.00 2.2 0.98 0.98

MQD-25-280 123.00 192.00 69.00 51.4 0.66 0.66

MQD-25-280 124.00 128.00 4.00 3.0 1.58 1.58

MQD-25-280 145.00 148.00 3.00 2.2 1.28 1.28

MQD-25-280 156.00 159.00 3.00 2.2 1.10 1.10

MQD-25-280 162.00 164.00 2.00 1.5 1.25 1.25

MQD-25-280 174.00 178.80 4.80 3.6 1.73 1.73

MQD-25-280 198.15 203.00 4.85 3.6 0.33 0.33

MQD-25-280 205.00 210.00 5.00 3.8 0.36 0.36

MQD-25-280 215.00 219.00 4.00 3.0 0.36 0.36

MQD-25-281 59.00 62.15 3.15 2.3 0.97 0.97

MQD-25-281 75.75 78.45 2.70 2.0 0.49 0.49

MQD-25-281 98.00 102.00 4.00 2.9 0.38 0.38

MQD-25-281 120.00 167.00 47.00 34.6 0.63 0.63

MQD-25-281 133.00 136.00 3.00 2.2 1.09 1.09

MQD-25-281 139.00 141.00 2.00 1.5 1.47 1.47

MQD-25-281 177.00 182.00 5.00 3.7 0.59 0.59

MQD-25-281 189.00 195.00 6.00 4.5 0.32 0.32

MQD-25-282 76.00 87.00 11.00 7.8 0.48 0.48

MQD-25-282 109.00 117.00 8.00 5.7 0.45 0.45

MQD-25-282 134.00 213.00 79.00 57.0 0.72 0.72

MQD-25-282 135.00 137.00 2.00 1.4 3.22 3.22

MQD-25-282 163.00 175.00 12.00 8.7 1.34 1.34

MQD-25-282 195.00 198.00 3.00 2.2 1.28 1.28

MQD-25-283 61.00 74.10 13.10 9.4 0.47 0.47

MQD-25-283 88.00 101.00 13.00 9.4 0.44 0.44

MQD-25-283 132.10 197.00 64.90 47.7 0.76 0.76

MQD-25-283 156.00 173.00 17.00 12.5 1.83 1.83

MQD-25-283 206.00 222.00 16.00 11.9 0.87 0.87

MQD-25-283 219.00 221.00 2.00 1.5 3.26 3.26

MQD-25-284 49.70 72.00 22.30 16.4 0.40 0.40

MQD-25-284 78.05 159.00 80.95 59.9 0.80 0.80

MQD-25-284 106.00 117.00 11.00 8.1 1.04 1.04

MQD-25-284 132.00 141.00 9.00 6.7 1.83 1.83

MQD-25-284 151.00 155.00 4.00 3.0 2.95 2.95

MQD-25-284 165.00 172.00 7.00 5.2 0.32 0.32

MQD-25-284 187.00 192.00 5.00 3.7 0.37 0.37

MQD-25-285 79.00 82.00 3.00 2.3 0.53 0.53

MQD-25-285 102.00 104.00 2.00 1.5 0.62 0.62

MQD-25-285 115.00 119.10 4.10 3.1 0.31 0.31

MQD-25-285 130.10 135.00 4.90 3.8 0.51 0.51

MQD-25-285 141.00 225.00 84.00 65.4 1.15 1.15

MQD-25-285 161.00 183.00 22.00 17.1 1.80 1.80

MQD-25-285 206.00 224.00 18.00 14.1 1.99 1.99

MQD-25-286 58.10 71.45 13.35 10.3 0.39 0.39

MQD-25-286 79.00 116.00 37.00 28.9 1.27 1.27

MQD-25-286 86.00 88.00 2.00 1.6 1.07 1.07

MQD-25-286 90.90 114.00 23.10 18.0 1.73 1.73

MQD-25-286 140.00 142.00 2.00 1.6 2.35 2.35

MQD-25-286 149.00 155.75 6.75 5.3 0.51 0.51

MQD-25-286 164.00 179.00 15.00 11.8 1.61 1.61

MQD-25-286 170.00 179.00 9.00 7.1 2.47 2.47

MQD-25-288 58.00 71.25 13.25 9.2 1.01 1.01

MQD-25-288 69.00 71.25 2.25 1.6 4.32 4.32

MQD-25-288 79.00 84.00 5.00 3.5 0.86 0.86

MQD-25-288 81.00 84.00 3.00 2.1 1.24 1.24

MQD-25-288 110.00 118.00 8.00 5.6 0.46 0.46

MQD-25-288 124.00 132.00 8.00 5.6 0.39 0.39

MQD-25-288 143.00 210.00 67.00 47.7 1.37 1.37

MQD-25-288 151.00 168.00 17.00 12.0 1.17 1.17

MQD-25-288 176.00 180.00 4.00 2.8 2.01 2.01

MQD-25-288 195.00 210.00 15.00 10.7 3.33 3.33

MQD-25-289 53.00 55.00 2.00 1.4 0.68 0.68

MQD-25-289 61.00 103.00 42.00 29.6 1.52 1.52

MQD-25-289 62.00 68.00 6.00 4.2 2.43 2.43

MQD-25-289 79.00 102.00 23.00 16.3 1.91 1.91

MQD-25-289 130.05 134.00 3.95 2.8 0.84 0.84

MQD-25-289 130.05 132.80 2.75 2.0 1.06 1.06

MQD-25-289 140.00 150.00 10.00 7.1 0.41 0.41

MQD-25-290 52.45 59.00 6.55 4.4 0.31 0.31

MQD-25-290 83.00 100.00 17.00 11.5 1.41 1.41

MQD-25-290 88.00 95.00 7.00 4.7 3.00 3.00

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