Gold X2 Intersects 26.65m of 4.22 g/t Au Including 10.9m of 9.02 g/t in Infill Drilling at Moss Main
Vancouver, British Columbia, August 10th, 2026, FinanceWire
Vancouver, British Columbia–(August 10, 2026) – Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) (FSE: DF8) (“Gold X2” or the “Company“), is pleased to announce the most recent assays from its ongoing infill and resource expansion drilling program targeting the Main and Southwest Zones at the Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project“).
Michael Henrichsen, CEO and Director of Gold X2 commented: “We are pleased with the high grades encountered during our infill drill Campaign at the Moss Main Zone. As we continue to drill at the Moss Main Zone we have a better understanding of the geometry of high-grade shoots. The infill drilling at the SW zone is providing a better understanding of late brittle structures that the Company believes offset the Moss Deposit to the south-southwest. The collected structural information will be critical for developing an exploration model to find the continuation of the deposit to the SW over the coming months, alongside our ongoing geophysical and geochemical surveys along the Moss Extension Trend.”
Highlights
- Five holes were drilled at the Moss Main Zone as part of the ongoing resource infill campaign focused on converting existing inferred mineralization to indicated. Select results include:
- 41.6m of 0.86 g/t Au from 446.8m in MMD-26-406, including
- 8.0m of 2.87 g/t Au from 469.0m
- 29.0m of 1.00 g/t Au from 97.0m in MMD-26-407, including
- 17.45m of 1.37 g/t Au from 107.55m, and
- 51.95m of 0.98 g/t Au from 158.05m, including
- 5.4m of 4.67 g/t Au from 199.6m
- 26.65m of 4.22 g/t Au (4.85 g/t Au uncut) from 197.7m in MMD-26-415, including
- 10.9m of 9.02 g/t Au (10.5 g/t Au uncut) from 199.6m
- Sixteen holes were drilled at the Southwest Zone, eight infilling existing drilling and eight targeting opportunities to expand the resource at depth and towards the southwest. The infill drilling continued to intersect expected wide zones of moderate mineralization with local narrow high-grade intercepts with select results including:
- 18.0m of 1.07 g/t Au from 221.0m in MMD-26-396, and
- 40.0m of 0.64 g/t Au from 289.0m
- 2.0m of 17.59 g/t Au from 525.0m in MMD-26-400
- 30.3m of 0.65 g/t Au from 59.7m in MMD-26-41150.0m of 0.51 g/t Au from 320.0m in MMD-26-4174.95m of 3.79 g/t Au from 266.0m in MMD-26-418
- The expansion drilling intersected numerous smaller diverging shears with highly variable grade ranges immediately southwest of the current mineral resource inventory while the drilling below the current RPEEE resource pit continued to intersect mineralized shear zone however at grades and widths not likely to support a deeper pit. Best results include:
- 9.45m of 1.06 g/t Au from 364.0m in MMD-26-398
- 6.45m of 4.38 g/t Au from 449.0m in MMD-26-403
Technical Overview
The results of the twenty-one holes drilled into the Main and Southwest Zones 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 hole MMD-26-415. 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 Main and Southwest Zones
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Figure 2: Shows a section through drill hole MMD-26-415 with reported intersections relative to the current resource block model
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Gold X2 continues its deposit-wide infill drilling and resource expansion programs designed to upgrade in-pit Inferred resource blocks to Indicated and expand the overall mineral resource inventory of the Moss Gold Project. Twenty-one holes were drilled, five as part of the infill of the Moss Main Zone and sixteen infilling and expanding the western side of the Southwest Zone.
The five Main Zone holes largely encountered expected geological sequences as outlined by the geological model. The shear zone model successfully predicted the location of the mineralized core shears with mixed success predicting marginal shears. The core shears of the Main Zone continue to correlate with the sericite-silica-hematite and altered granodiorite and sericite-chlorite altered diorites, but shears continue to cross lithological boundaries. The tighter drilling has allowed for better definition of a series a horizontal late barren gabbroic dyke which cut across the mineralization. The holes terminated within the mineralized zone when entering existing indicated resources or when they extended well beneath the RPEEE open pit.
Sixteen holes were drilled to better understand the western extent of the Southwest Zone with eight holes infilling existing Inferred blocks and eight holes targeting potential expansions to the west and at depth. Drilling encountered the expected geological package of massive dacitic volcanics and flow breccias intruded by a large variably altered diorite complex, however the distribution of these units does not match the existing geological model. The drilling also intersected unmodelled late brittle faults which are believed to be offsetting the geological package. An updated geological model is being developed to guide drill hole planning.
The infill holes reported in this release have targeted marginal parts of the deposit with low modelled tonnages. As a result, reconciliation between drill results and the model show high variability (Table 3).
The five infill holes drilled at the Main Zone intersected mineralized widths that are 13% wider than modelled, however, hole MMD-26-359 failed to replicate a single very high-grade sample within historical BQ drilling, driving a much lower than expected grade reconciliation at approximately -32%.
The eight infill holes drilled at the Southwest Zone intersected mineralized shears that are 60% wider than modelled. This includes the continued definition of additional secondary shears and deviations from the geological model, which jointly contribute to slightly lower grades with a -10% reconciliation.
Seven of the eight expansion holes intersected mineralized shears outside of the model giving a net positive reconciliation. The overall results will allow for the development of a lower risk and more robust MRE and guide additional exploration in these areas.
Figure 3: Hole MMD-26-415: Strong, texturally destructive, ~20m wide shear with intense sericite-chlorite alteration and 10% py-cp bearing quartz carbonate veins with an intercept of 26.65m of 4.22 g/t Au (4.85 g/t Au uncut) from 199.7m including 10.9m of 9.02 g/t Au (10.5 g/t Au uncut) from 199.6m
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Table 1: Significant intercepts
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.
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 $200 million of new capital and completed approximately 150,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 350,000 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.
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 events 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 at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements regarding the Company’s future drill plans, including the expected benefits and results thereof; that the Superion target has the potential to significantly add to the current mineral resource estimate within the top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; the potential for resource growth at Moss and the fact that the results have the potential to significantly impact the economic performance of the deposit moving forward; the potential for a much larger mineralized system and that it will be pursued in the near future through additional drilling; and other statements that are not historical facts.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management’s expectations; the Company’s exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company’s limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; the Superion target may not add to the current mineral resource; and other risks associated with executing the Company’s objectives and strategies as well as those risk factors discussed in the Company’s continuous disclosure documents filed under the Company’s SEDAR+ profile at www.sedarplus.ca.
The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company’s ability to fund its programs; the Company’s ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company’s mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company’s ability to operate in a safe, efficient, and effective manner; the Company’s ability to obtain financing as and when required and on reasonable terms; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; that the Superion target will add to the current mineral resource; that the Company’s exploration work will deliver the results expected; and that there will be no material adverse change or disruptions affecting the Company or its properties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Featured Image @ Freepik
Contact
President, Chief Executive Officer and DirectorMichael Henrichsen
Gold X2 Mining Inc.
mhenrichsen@goldx2.com
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