Gold X2 Intersects 86.0m of 1.37 g/t Au from 314.0m at QES During Infill Drilling at the Moss Gold Project

Press Release

VANCOUVER, B.C., June 2, 2026: Gold X2 Mining Inc. (TSXV: AUXX / OTCQB: GSHRF / FWB: DF8) (“Gold X2” or the “Company”) is pleased to announce the latest assays from its infill drilling program targeting the QES Zone at the Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project”).

Michael Henrichsen, CEO and Director of Gold X2 commented: “These infill drill results demonstrate a meaningful expansion of the QES Zone relative to the current mineral resource estimate, through the expansion of the mineralized system by unmodelled secondary shear zones. In addition, we continue to encounter the emerging Superion Zone at shallow depths which we believe will lead to further expansion on the north side of the proposed open pit.”

Highlights

• Eighteen holes, including four extensions to holes drilled in 2025, were drilled through the QES Zone to upgrade Inferred resources to the Indicated category within the current RPEEE (“Reasonable Prospects for Eventual Economic Extraction”) open pit shell. Drilling continues to delineate a larger mineralized system than predicted by the Inferred resource with poorly mineralized wall rock zones excluded from the MRE converting to mineralized secondary shears. Best intercepts include:
  • 72.65m of 0.79 g/t Au from 513.0m in MQD-25-149, including
    • 34.0m of 1.14 g/t Au from 548.0m
  • 118.0m of 0.78 g/t Au from 366.0m in MQD-25-163, including
    • 6.8m of 4.18 g/t Au from 422.0m
  • 57.0m of 0.88 g/t Au from 266.0m in MQD-26-362, including
    • 24.5m of 1.41 g/t Au from 268.8m
  • 86.0m of 1.37 g/t Au from 314.0m in MQD-26-366, including
    • 26.0m of 2.90 g/t Au from 345.0m, including
      • 3.0m of 7.67 g/t Au from 349.0m, and
      • 6.0m of 5.82 g/t Au from 362.0m
  • 139.05m of 1.01 g/t Au from 355.95m in MQD-26-378, including
    • 39.35m of 1.78 g/t Au from 385.0m
  • 142.65m of 0.93 g/t Au from 394.05m in MQD-26-383, including
    • 46.0m of 1.59 g/t Au from 408.0m, including
      • 7.0m of 3.31 g/t Au from 413.0m
  • 90.0m of 0.96 g/t Au from 438.0m in MQD-26-390, including
    •  21.9m of 1.71 g/t Au from 444.0m

• The fourteen new holes were collared north of the QES Zone and located additional mineralized Superion-style shears outside of the current mineral resource. Intercepts include:
  • 18.75m of 1.02 g/t Au from 259.25m in MQD-26-332
  • 27.7m of 1.85 g/t Au from 245.0m in MQD-26-366, including
    • 5m of 9.19 g/t Au from 250.0m,
  • 10.0m of 3.73 g/t Au from 80.0m in MQD-26-383, including
    • 4m of 8.5 g/t Au from 83.0m, including
      • 2.0m of 15.6 g/t Au from 85.0m

Technical Overview

The results of the holes drilled across the core shears in the upper part of the QES Zone 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 typical cross-section through drill holes MQD-25-149, MQD-26-362 and MQD-26-366. 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:  Shows the location of the drill holes across the core and marginal shears in the QES and Superion Zones
Figure 2:  Shows a typical section through drill holes MQD-25-149, MQD-26-362 and MQD-26-366 with reported intersections relative to the current resource block model

Gold X2 has embarked on a deposit wide infill drilling program designed to upgrade Inferred resource blocks to Indicated within the RPEEE pit shell and further de-risk the Moss Gold Project. The initial program has focused on targeting the QES Zone, as this is best accessed in winter from muskeg-dominated areas north of the QES Zone. In addition, Gold X2 identified nine holes from its 2025 Superion exploration program to be extended through the core shears of the QES Zone to infill the drill spacing near the bottom of the RPEEE pit shell.

All fourteen new holes collared through overburden and encountered the expected wide epidote-chlorite altered diorite body north of the QES Zone with localized sericite-silica altered shearing, which increased in intensity and width downhole. These localised shears range from lower grade shears, such as 8.6m of 0.54 g/t from 63.45m in MQD-26-382, to high-grade Superion-style mineralization, such as 10.0m of 3.73 g/t Au from 80.0m, including 2.0m of 15.6 g/t Au from 85.0m in MQD-26-383.

Each hole, including the four extension holes, intersected the expected wide sericite-silica-hematite and sericite-chlorite altered sheared granodiorite in the QES Zone, with six holes being terminated within the granodiorite to avoid intersecting mineralization already tested from the south side. The remaining eight holes and four extension holes were extended through the granodiorite into the southern dacitic volcanic package.

This news release also includes a nineteenth hole drilled to test the eastern extension of the QES Zone that has been offset by the Sloane Fault. MQD-25-244 intersected low-grade shears typical of this area, including 21.0m @ 0.43 g/t Au from 258.0m.

Globally, the drill results from the eighteen holes infilling the MRE volume are showing 67% wider zones at an average 19% lower grade when compared to the current MRE. Intercepts of modelled mineralized shears are reconciling well. The additional volume reflects the discovery of secondary shears in zones previous modelled as wall rock and excluded from the MRE, as well as by the addition of marginal shears along the north side of QES not tested by the original southern collared drill programs. As these zones are not in the MRE, they have been modelled as low grade or waste. As such the grades intersected by these infill drill holes are higher grade than in the model despite having an overall average lower grade than the modelled shears. The net result is a significant replacement of waste with mineralization in the RPEEE pit shell.

Figure 3: Hole MQD-26-366: Strong to moderately sheared granodiorite with zones of sericite-hematite-silica dominated alteration yielding the high-grade intercept of 3.0m of 7.67 g/t Au from 349.0m and 6.0m of 5.82 g/t Au from 362.0m, part of the greater interval of 86.0m of 1.37 g/t Au from 314.0m.

Analytical and QA/QC Procedures

The drill core is a mix of HQ and 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.

All samples were sent to Paragon Geochemical in Timmins for sample preparation. 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”). Paragon and ActLabs are accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025.

In addition to Paragon 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 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 $150 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 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.

E: mhenrichsen@goldx2.com
W: www.goldx2.com
T: 1-604-404-4335

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