This Ontario Gold Project Secured $115.9 Million. Now the Growth Story Looks Much Bigger

A 2.46 Moz Indicated and 4.21 Moz Inferred Gold Project in Ontario. The Firm Behind Canada’s Greenstone Mine Wrote Its Economic Study. The World’s Third-Largest Gold Producer Took a 9.9% Stake. And the Drill Bit Is Still Turning.

On behalf of Gold X2 Mining Inc.

Gold is not going back.

Central banks have been buying record amounts of gold every year.¹ China has added to its reserves for 16 consecutive months.²

JPMorgan sees $6,300 per ounce by year-end.³ Goldman Sachs calls for $5,400.⁴ Bank of America says $6,000 this spring.⁵ The World Gold Council reports that 76% of central banks plan to keep adding gold to their reserves.⁶

And they are not buying gold because it is going up. They are buying it because everything else feels uncertain.⁷

The war in Iran grinds forward. Taiwan tensions are escalating. The US-China trade relationship is fracturing.⁸ The dollar’s role as the world’s reserve currency is being actively questioned for the first time in decades. Each one of those forces is a tailwind for gold.⁹

Now here is the problem that most gold investors are not thinking about.

The supply side is broken. And it is not going to be fixed quickly.

The world’s six largest gold producers generated nearly $24 billion in free cash flow in 2025 alone.¹⁰

They need to replace those reserves. And they are running out of places to look.

S&P Global tracked just six major gold discoveries worldwide since 2020. Six. They added roughly 27 million ounces combined to the global database.¹¹ The world’s top producers burn through that much in less than two years.¹²

So the majors are writing checks. Big ones.

Great Bear was acquired for $1.8 billion.¹³ Osisko for $2.2 billion.¹⁴ Probe Gold sold at a 39% premium for $780 million, just weeks ago.¹⁵ Every deal closes another door for investors looking to get ahead of the next one.

Against that backdrop, there is a gold project in Northwestern Ontario with an Indicated Mineral Resource of 2.46 million ounces and an Inferred Mineral Resource of 4.21 million ounces of gold.

The engineering firm that built Canada’s Greenstone Mine wrote its PEA. The world’s third-largest gold producer¹⁶ just took a 9.9% stake. And the drill bit is still turning.

"I come from Newmont Mining and have had the privilege of working around the world. I can tell you it is very difficult to get five million ounces or more in a single place. But for [Gold X2 Mining], this is still very early days."

— Michael Henrichsen, CEO, Gold X2 Mining Inc.17

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The $115.9 Million Vote of Confidence

Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) controls the Moss Gold Project, located 110 kilometres west of Thunder Bay in Northwestern Ontario. The deposit hosts Indicated Mineral Resources of 2.46 million ounces of gold and Inferred Mineral Resources of 4.21 million ounces of gold across a 35-kilometre mineralized trend. And it is, by management’s own admission, substantially under-drilled.

In February 2026, Gold X2 closed a financing for $115.9 million welcoming investment from cornerstone strategic investors.

AngloGold Ashanti, one of the worlds largest gold miners, participated on the back end for a total investment of $53.09M and now holds 9.9% of Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF).¹⁹

Under the investor rights agreement, AngloGold received participation and top-up rights that allow it to maintain its ownership interest over time, and the parties agreed to form a joint technical committee to share expertise, exploration concepts, and future development ideas.

The investment also stands out as one of AngloGold Ashanti’s two publicly announced strategic moves in the Canadian gold space in 2026.

AngloGold did not come alone. Hess Capital, the family office behind Hess Corporation’s landmark sale to Shell for $53 billion,²⁰ committed $22.6 million alongside them.²¹ The investment was led personally by Michael Hess, Chief Investment Officer of Hess Capital, who brings a track record as both an investor and operator in the natural resource sector.²² Upon closing, Hess Capital will provide active consulting services to Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF).

A third strategic investor also participated, on the back-end and committed $15M with $20.5M received by the Company on the front-end bringing the total financing to $115.9 million. The largest capital raise in company history.

Today, Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) carries approximately $120 million in treasury. Fully funded for a 140,000-metre drill program that is already underway.

Why are investors looking at Gold X2 Mining?

The smart money does not show up late. It gets in while the story is still being written. Michael Henrichsen spent his career at Newmont Mining, the world's largest gold producer, as its global head of structural geology. He knows what a world-class deposit looks like. Now he is running Gold X2 Mining, a junior gold developer with a completed PEA, a world-class asset in a tier-one jurisdiction, and a shareholder base that includes some of the most sophisticated institutional capital in the sector.

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The Moss Gold Project. The Numbers That Define a Generational Asset

Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) controls 48,445 hectares of Northwestern Ontario through ownership of the Moss Gold Project and Hillcrest Project, and as operator of the Star Lake Project, for which it holds an agreement to acquire an option.²³ Together, these properties consolidate the dominant land position across the emerging Shebandowan Greenstone Belt.

The Moss deposit is the centre of mass.

Here is what the January 2026 Mineral Resource Estimate says (effective January 16, 2026, reported at a cut-off grade of 0.35 g/t Au within an optimized pit shell):²⁴

Moss Deposit Indicated: 64.3 Mt at 1.03 g/t Au (2.126 Moz Au) and 1.53 g/t Ag (3.160 Moz Ag)

Moss Deposit Inferred: 125.9 Mt at 0.97 g/t Au (3.910 Moz Au) and 1.55 g/t Ag (6.273 Moz Ag)

East Coldstream Indicated: 9.5 Mt at 1.09 g/t Au (0.333 Moz Au)

East Coldstream Inferred: 8.8 Mt at 1.06 g/t Au (0.299 Moz Au)

Total Indicated: 73.8 Mt at 1.04 g/t Au (2.458 Moz Au)

Total Inferred: 134.7 Mt at 0.97 g/t Au (4.209 Moz Au)

That 73% increase in Indicated ounces versus the prior estimate is not an accident. It came from updated structural modelling and grade control drilling that shows ten primary shear corridors containing 55% of the resource within the Moss Deposit. The geological model has improved with additional drilling and updated structural interpretation.

The PEA, authored by G Mining Services,envisions a 30,000-tonne-per-day conventional open-pit operation. 91.7% gold recovery. 82.8% silver recovery. 13.2-year mine life. 265,000 ounces of gold per year. 374,000 ounces of silver per year.^{25 26}

Initial capital: $2.001 billion. Cash costs: US$999 per ounce. AISC: US$1,188 per ounce. Those cost numbers place Moss in the second quartile of the global gold cost curve. The project is expected to produce dore directly on site.

image3 1 1 This Ontario Gold Project Secured $115.9 Million. Now the Growth Story Looks Much Bigger

Moss Gold Project — Proposed mine layout showing open pit, waste rock storage, and tailings facility in Northwestern Ontario. Source: Gold X2 Mining Inc. Corporate Presentation, March 2026.

At US$2,750 per ounce gold, the base case after-tax NPV is $2.232 billion with a 22.1% IRR and a 3.2-year payback.²⁷

At the long-term consensus price of US$3,137, the NPV climbs to $3.152 billion.

At today’s spot price near US$4,600, the model projects a $6.578 billion NPV, a 48.6% IRR, and a 1-year payback period.

Under the spot price sensitivity scenario, life-of-mine free cash flow approaches $10.5 billion at January 2026 gold prices.

The Gold X2 team has identified potential optimization pathways that have not been incorporated into the PEA base case.

Stockpile management, steeper pit slopes, improved metallurgical recoveries, and the potential inclusion of a gravity recovery circuit are all optimization pathways that have not been incorporated into the base case.

But the most important number in this story may not be in the PEA at all.

In March 2026, drilling hit 117 metres at 1.21 g/t Au, including 10 metres at 4.37 g/t Au, at 280 metres below the current resource pit shell.²⁸

And in April 2026, a new Superion Shear returned 9.0 metres at 3.13 g/t Au, including 3.95 metres at 6.94 g/t Au.²⁹ These results were obtained after the Mineral Resource Estimate cut-off date and are not included in the current resource model.

image4 This Ontario Gold Project Secured $115.9 Million. Now the Growth Story Looks Much Bigger

Moss Gold Project — Cross-section showing drill intercept grades across the 3.6 km Southwest, Main, and QES Zones, with primary target areas for potential resource expansion at depth.

The Doability Factor. Why Most Large Deposits Never Become Mines

Here is a fact that most investors never look up.

The majority of large gold deposits that get discovered never reach production. Not because the gold is not there. Because the path to production is blocked. By infrastructure that does not exist. By logistics that cannot be solved. By jurisdictions that are hostile to mining. By communities that are not supportive.³⁰

Gold X2 Mining Inc.’s (TSXV:AUXX) (OTCQB:GSHRF) Moss Gold Project has none of those problems. Not a single one.

The Trans-Canada Highway runs within 12 kilometres of the project. There is a maintained road with direct paved access all the way to the concession gate. Thunder Bay, a city of 110,000 people with a deep-water port, a rail hub, an international airport, and more than 400 mining supply and service companies, is 110 kilometres to the west.

Low-cost hydroelectric power at 11 cents per kilowatt-hour is 12 kilometres from site. The Waasigan transmission line upgrade is adding 350 megawatts of new capacity to the power corridor. Rail access for heavy equipment delivery is in place.

image2 3 This Ontario Gold Project Secured $115.9 Million. Now the Growth Story Looks Much Bigger

You cannot build this set of infrastructure advantages from scratch. You cannot buy them. They exist, or they do not.

At Moss, they exist.

Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) is not a project waiting for a road. It is not a project waiting for power. It is not a project waiting for a workforce. All of those pieces are already in place. The company now needs to define the ultimate scope of a potential mine through further study.

That is what separates Moss from the vast majority of large gold deposits on the planet.

In a statement, Gold X2 Mining CEO Michael Henrichsen believes Moss can be a top-10 gold producer in Canada with room to grow.

"The Moss deposit MRE and PEA represents a major milestone for the company as we have clearly demonstrated the potential for the Moss Deposit to be a top ten gold producer in Canada. We look forward to advancing the Project towards a Feasibility Study and the formal permitting process in the second half of 2027."

— Michael Henrichsen, CEO, Gold X2 Mining Inc.31

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Ontario. The Right Jurisdiction at the Right Moment

Ontario ranked #2 globally for mining investment attractiveness in the Fraser Institute’s 2025 Annual Survey of Mining Companies.³²

That is up from 15th place just one year prior. The shift is not cosmetic. It reflects a fundamental change in how Ontario’s provincial government treats mining.

In October 2025, Ontario launched its One Project, One Process (1P1P) framework.³³ The goal is to cut government mine review timelines by up to 50% by appointing the Ministry of Energy and Mines as a single point of contact for all provincial approvals and Indigenous consultation. Previously, Ontario’s fragmented permitting process caused delays of up to 15 years.³⁴

In February 2026, Kinross Gold’s Great Bear project, located 24 kilometres southeast of Red Lake, became the first gold mine accepted under 1P1P. Kinross is targeting $5 billion in capital investment and 500,000 ounces per year at peak production, with major construction expected in 2027.³⁵

That matters for Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) and its Moss Gold Project. Here’s why.

Great Bear’s 1P1P designation proves that gold projects, not just critical minerals, can access Ontario’s streamlined approval pathway when they carry strategic economic importance.

Management believes that a project of Moss’s scale, with its proximity to Thunder Bay and its projected economic contribution to Northern Ontario, is in line with the development the province wants to accelerate.

Gold X2 Mining Inc.‘s (TSXV:AUXX) (OTCQB:GSHRF) environmental baseline studies have been running since 2021. Indigenous engagement is active. The company’s published goal is to enter the Environmental Assessment process by H2 2027.³⁶

In 2024, Ontario mines produced 2.5 million troy ounces of gold, which represents 42% of Canada’s gold production by value.³⁷ It is a proven, active, sophisticated mining district with deep local expertise and a government that actively wants new operations.

The Shebandowan Belt, which hosts the Moss deposit, has produced gold commercially before. The North Coldstream Copper VMS Mine and the Ardeen Gold Mine both sit within the land package. The geological precedent is not theoretical. It is documented.

image5 2 This Ontario Gold Project Secured $115.9 Million. Now the Growth Story Looks Much Bigger

And the exploration upside beyond the current resource is significant.

The Moss Trend Extension runs southwest of the main deposit, open across recently acquired Kesselrun land, with orogenic gold potential. The Deaty Trend, a parallel structure approximately three kilometres south of Moss, has been defined over five kilometres of strike length with initial drill results already returning two mineralized shears in February 2026.^{38 39}

The Star Lake Project, which Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) holds an agreement to acquire an option, represents the third major gold-in-till anomaly in the region and the last major undrilled target in the Shebandowan Belt.⁴⁰

The Comparable Case. What Moss Is Worth When the Market Catches Up

The most powerful signal in this story is not the resource. It is not the PEA. It is the engineering firm that authored it.

G Mining Services built the feasibility study for Equinox Gold’s Greenstone Mine, located approximately 275 kilometres northeast of Thunder Bay in Ontario.⁴¹ Greenstone poured first gold in May 2024. It reached commercial production in November 2024.⁴²

It is now one of the largest gold mines in Canada, producing 250,000 to 300,000 ounces annually and expected to average more than 320,000 ounces per year for the next 10 years.

The same firm, the same methodology, the same engineering leadership that made Greenstone a producing mine just published the Moss PEA for Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF).

Moss and Greenstone share similar geology. Similar 30,000 tonne-per-day throughput design.⁴³ The same Trans-Canada Highway corridor in Northwestern Ontario.

Then, there is Artemis Gold and its Blackwater Mine in British Columbia, which declared commercial production on May 2, 2025.⁴⁴ Artemis is a single-asset Canadian gold junior that used strategic capital, disciplined stage-gating, and phased production to build into a nearly 200,000 ounce per year operation.⁴⁵ It is now planning an expanded Phase 2 targeting 500,000 to 525,000 ounces annually.⁴⁶

Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) is at an earlier stage of development. The difference is that Gold X2 Mining already has something Artemis did not have at this stage: a Tier 1 global major holding 9.9% and watching closely.

Table 1: Where Moss Ranks Among Canada’s Top Gold Mines

Based on the PEA, which is preliminary in nature and includes Inferred Mineral Resources, Moss is estimated to produce an average of 265,000 ounces of gold per year over a 13.2-year mine life.

Mine	Owner	2025 Annual Production	Mine Life
Detour Lake	Agnico Eagle	692,675 oz⁴⁷	26 yrs
Canadian Malartic	Agnico Eagle	642,612 oz⁴⁸	13 yrs
Meadowbank	Agnico Eagle	493,314 oz⁴⁹	3 yrs
Meliadine	Agnico Eagle	376,346 oz⁵⁰	9 yrs
LaRonde	Agnico Eagle	344,555 oz⁵¹	8 yrs
Back River	B2Gold	300,000 oz⁵²	9 yrs
Rainy River	New Gold	290,236 oz⁵³	9 yrs
Côté Lake	IAMGOLD	279,900 oz⁵⁴	19 yrs
Greenstone	Equinox Gold	250,000-300,000 oz (2026)⁵⁵	18 yrs
Blackwater	Artemis Gold	192,808 oz⁵⁶	26 yrs
Moss – Gold X2 Mining	Gold X2 Mining	286,000 oz (LOM Average per PEA)	13 yrs

The Team. Newmont DNA at the Top

Before you evaluate an asset, evaluate the people building it.

Michael HenrichsenCEO and Director

was the global head of structural geology at Newmont Mining, the world’s largest gold producer. His work at Newmont’s Ahafo district in Ghana materially expanded reserves and resources at one of Africa’s most important gold camps. He led the technical team at Torq Resources before joining Gold X2. He is a structural geologist by training, which means he reads rock. He sees what others miss.

Peter FlindellVP Operations

brings 40+ years of experience in mineral exploration and feasibility studies. He spent 12 years at Newmont Mining, 11 years at Avocet Mining, and 8 years at Signal Delta. He has led teams that discovered, developed, and expanded gold and copper mines on four continents. He is also the NI 43-101 Qualified Person for the Moss technical data.

Michael KanevskyCFO

was previously CFO of New Found Gold Corp., one of the most significant high-grade gold discovery stories in recent Canadian mining history. He brings institutional-grade financial reporting, treasury management, and regulatory compliance experience.

Tom ObradovichChairman

has 42 years of mining exploration, development, and financing experience. He co-founded Canadian Royalties Inc., which discovered the Raglan South Nickel Belt. He was a founding member of Aurelian Resources Inc., which discovered the Fruta del Norte gold deposit in Ecuador. He spearheaded the Young-Davidson project, now a 200,000+ ounce per year underground gold mine operated by Alamos Gold.

Two Newmont veterans at the top. A New Found Gold CFO managing the treasury. A chairman who has discovered world-class deposits on two continents. And the world’s third-largest gold producer holding 9.9% and sitting on the joint technical committee.

This is an experienced management team with a track record in gold mine discovery, development, and production.

The Catalyst Calendar. Every Quarter Has a Purpose

Junior gold stocks move on news. The best ones give investors a reason to pay attention every quarter, not just once a year.

Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) has several anticipated catalysts for 2026 and 2027.

image1 1 This Ontario Gold Project Secured $115.9 Million. Now the Growth Story Looks Much Bigger

The 140,000-metre drill program is underway right now across 2026, targeting infill, resource expansion, and district exploration. Approximately 80% of the program is infill drilling, designed with an aim to convert inferred resources to indicated, tightening confidence in the resource ahead of the Feasibility Study⁵⁷

The remaining 20% is pure exploration along the Deaty Trend and the Moss Trend Extension. Drill results are expected on a bi-weekly cadence through year-end. Every release is a potential catalyst.

Geotechnical and metallurgical studies are running in parallel with the drilling. Optimization and trade-off studies will evaluate steeper pit slopes and stockpile management strategies that have already demonstrated in earlier scoping work the potential to improve early-year head grade.

The Feasibility Study and Environmental Assessment submission are targeted for H2 2027. Environmental baseline studies have been underway since 2021. Indigenous community engagement is active, with Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) targeting Impact Benefit Agreements in place before formal EA submission.

Six months of drill news. A Feasibility Study. There is not a quiet quarter between now and the end of 2027.

The Setup Is Right in Front of You

Let us go back to where we started.

The world’s largest gold producers are generating more free cash flow than at any point in history.⁵⁸ Their reserves are depleting faster than they can replace them. The list of large, buildable, permittable gold projects in safe jurisdictions is shrinking every time a deal gets done.

Against that backdrop, here is what you have with the Moss Gold Project.

An Indicated Mineral Resource of 2.46 million ounces Au and an Inferred Mineral Resource of 4.21 million ounces Au in Northwestern Ontario. Off the Trans-Canada Highway. Within 110 kilometres of a city with a deep-water port and 400+ mining suppliers. Hydroelectric power 12 kilometres from the site. Ontario’s mining investment climate at a 15-year high.

The same engineering firm that built Greenstone just published a PEA showing $2.2 billion in after-tax NPV at base-case gold prices, and $6.5 billion at January’s spot price.⁵⁹ The indicated resource grew 73% in one MRE update.

AngloGold Ashanti spent seven days on site and acquired 9.9% of the company. Hess Capital came alongside with another $22.6 million.⁶⁰

The 140,000-metre drill program is turning. Results are flowing.

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*All figures in Canadian dollars unless otherwise stated.

Why are investors looking at Gold X2 Mining?

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Disclaimer

Qualified Person

The scientific and technical information in this document has been reviewed and approved by Peter Flindell, VP Operations of Gold X2 Mining Inc., who is a Qualified Person as defined by NI 43-101. The Mineral Resource Estimate was prepared by Dominic Lussier, P.Geo., Chief Geologist at G Mining Services Inc., an independent Qualified Person as defined by NI 43-101. The PEA was prepared by G Mining Services Inc. and CSL Environmental & Geotechnical Ltd. For full details, see the Technical Report titled “Preliminary Economic Assessment NI 43-101 Technical Report, Moss Gold Project” with an effective date of January 26, 2026, and an issue date of March 12, 2026, available under Gold X2 Mining Inc.’s profile on SEDAR+.

Certain financial measures referred to in this document are not measures recognized under International Financial Reporting Standards (“IFRS”) and are referred to as non-GAAP financial measures or ratios. These measures have no standardized meaning under IFRS and may not be comparable to similar measures presented by other companies. The definitions established and calculations performed by Gold X2 are based on management’s reasonable judgement and are consistently applied. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. The non-GAAP financial measures used in this document and common to the gold mining industry are all-in sustaining cost per ounce of gold sold, and free cash flow. All-in sustaining cost per ounce of gold sold and free cash flow are non-GAAP financial measures or ratios and have no standardized meaning under IFRS and may not be comparable to similar measures used by other issuers. As the Moss Gold Project is not in production, the Company does not have historical non-GAAP financial measures nor historical comparable measures under IFRS, and therefore the foregoing prospective non-GAAP financial measures or ratios may not be reconciled to the nearest comparable measures under IFRS.

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This communication is a paid advertisement for Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) to enhance public awareness of Gold X2, its recent developments, its properties, its industry and as a potential investment opportunity. Native Ads, Inc. (“Service Provider”), and their owners, managers, employees, and assigns were paid by Gold X2 to create, produce and distribute this advertisement. This compensation should be viewed as a major conflict with Service Provider’ ability to be unbiased.

This communication is not intended as, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor Gold X2 purport to provide a complete analysis of Gold X2 or its financial position. Gold X2 is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about Gold X2. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in Gold X2’s public disclosure documents available on SEDAR+ (www.sedarplus.ca) under the Gold X2 profile and/or other government filings. Investing in securities is speculative and carries a high degree of risk.

Cautionary Statements regarding Forward-Looking Information

This document contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively, “forward-looking information”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this document. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this document, forward-looking statements relate to, among other things, projections regarding gold prices, including third-party forecasts; the results of the Preliminary Economic Assessment; the planned 140,000-metre drill program and anticipated bi-weekly drill results; the anticipated Feasibility Study and Environmental Assessment submission in H2 2027; management’s expectations regarding Ontario’s regulatory environment and the applicability of the One Project, One Process framework; statements regarding potential optimization pathways; exploration potential at the Moss Trend Extension, Deaty Trend, and Star Lake Project; and statements regarding the Company’s treasury position and its sufficiency to fund planned activities. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements regarding production targets, economic results and mine life are derived from and subject to the assumptions and limitations of the PEA and are inherently uncertain.

Forward-looking statements are based on a number of assumptions that, while considered reasonable by the Company as of the date hereof, are inherently subject to significant business, economic, technical and competitive uncertainties and contingencies. Such assumptions include, without limitation: gold prices remaining at or above the base case assumption; exchange rates between Canadian and U.S. dollars remaining consistent with those used in the PEA; successful completion of the planned drilling program and the results supporting continued resource expansion; the ability to obtain all necessary permits, licenses, and regulatory approvals on the anticipated timelines; Ontario’s regulatory environment remaining favorable to mining development and the continued implementation of the One Project, One Process framework; the availability of infrastructure including hydroelectric power, transportation routes, and skilled labour; capital and operating cost estimates proving accurate; metallurgical recoveries achieving the 91.7% gold recovery rate assumed in the PEA; no material adverse change in commodity prices, currency exchange rates, or interest rates; geological and engineering parameters being as modelled; successful negotiation of Impact Benefit Agreements with Indigenous communities; the Company’s ability to maintain its treasury and secure any additional financing required; and general economic, business, political, and social conditions remaining stable in the jurisdictions where the Company operates.

Risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, without limitation: risks inherent in mineral exploration and development, including that further exploration may not confirm the presence of mineralization or may demonstrate that any identified mineralization is not economically viable; uncertainty in the estimation of mineral resources, as mineral resources that are not mineral reserves do not have demonstrated economic viability; the speculative nature of Inferred Mineral Resources, which are considered too speculative geologically to have economic considerations applied to them; volatility in gold and silver prices, which may decline below levels assumed in the PEA; fluctuations in currency exchange rates, particularly between the Canadian and U.S. dollars; increases in capital costs, operating costs, or delays in project development beyond current estimates; changes in project parameters as plans continue to be refined, which may require revisions to cost estimates and projected economics; the possibility that actual recoveries of gold and silver may differ from those modelled in the PEA; risks related to obtaining necessary permits, licenses, and regulatory approvals, including environmental assessments; changes in laws, regulations, or government policies affecting mining, taxation, or environmental matters in Ontario or Canada; risks associated with potential legal claims or disputes, including title risks affecting the Company’s mineral properties; risks related to relationships with Indigenous communities and the ability to secure Impact Benefit Agreements; competition for, and availability of, qualified personnel, contractors, and suppliers; risks related to environmental liabilities and reclamation obligations; risks associated with infectious diseases, pandemics, or other health crises affecting operations or global markets; general economic conditions, including inflation, interest rates, and global economic uncertainty; geopolitical risks, including trade disputes, military conflicts, and political instability; risks related to climate change and extreme weather events; risks associated with the Company’s reliance on third-party contractors and consultants; risks related to maintaining adequate insurance coverage; risks associated with the Company’s limited operating history and reliance on a single project; and other factors beyond the Company’s control that could affect exploration, development, or operations.

Readers are cautioned that the foregoing lists of assumptions, risks and uncertainties are not exhaustive. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in this document are made as of the date hereof. Gold X2 expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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footnotes:
[1] https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-full-year-2025/central-banks [2] https://www.kitco.com/news/article/2026-03-09/chinas-central-bank-buys-gold-16th-month-straight-february-despite-near [3] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices [4] https://finance.yahoo.com/markets/commodities/articles/goldman-sachs-sees-gold-reaching-194548368.html [5] https://www.kitco.com/news/article/2026-01-23/forget-5000-bank-america-sees-gold-price-hitting-6000oz-spring-2026 [6] https://www.canadianminingreport.com/blog/central-banks-are-still-buying-gold-here-s-why [7] https://www.reuters.com/plus/why-central-banks-buy-gold [8] https://www.digitimes.com/news/a20260402VL219/china-usa-rare-earth-exports-geopolitics-2026.html [9] https://www.jpmorgan.com/insights/global-research/currencies/de-dollarization [10] https://www.cruxinvestor.com/posts/gold-miners-record-cash-flow-fuels-capital-migration-down-market-cap-ladder [11] https://www.spglobal.com/market-intelligence/en/news-insights/research/new-finds-remain-scarce-despite-gold-from-major-discoveries-at-3-boz [12] https://www.nasdaq.com/articles/top-10-gold-mining-companies [13] https://www.kinross.com/news-and-investors/news-releases/press-release-details/2021/Kinross-announces-acquisition-of-Great-Bear-Resources/default.aspx [14] https://www.northernminer.com/news/beaver-creek-gold-fields-ceo-preps-canadian-giant-windfall-for-output-in-high-value-plan/1003882703/ [15] https://www.juniorminingnetwork.com/junior-miner-news/press-releases/754-tsx/prb/190486-fresnillo-to-acquire-probe-gold-for-c-780-million.html [16] https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/top-gold-mining-companies/ [17] https://www.kitco.com/opinion/investment-trends/2025-02-28/goldshore-resources-vision-become-top-10-canadian-producing [18] https://goldx2.com/gold-x2-mining-delivers-preliminary-economic-assessment-and-updated-mineral-resource-estimate-for-the-moss-gold-project/ [19] https://goldx2.com/gold-x2-announces-strategic-investments-from-anglogold-ashanti-and-hess-capital/ [20] https://www.chevron.com/newsroom/2023/q4/chevron-announces-agreement-to-acquire-hess [21] https://goldx2.com/wp-content/uploads/2026/03/GoldX2-Corporate-Presentation_2026-03-11.pdf [22] https://www.newsfilecorp.com/release/281796/Gold-X2-Announces-Strategic-Investments-from-AngloGold-Ashanti-and-Hess-Capital-Through-NonBrokered-Private-Placement [23] https://goldx2.com/gold-x2-mining-announces-agreement-to-assume-option-for-greenfields-target-at-star-lake/ [24] Effective January 16, 2026, reported at a cut-off grade of 0.35 g/t Au within an optimized pit shell https://goldx2.com/wp-content/uploads/2026/03/GoldX2-Corporate-Presentation_2026-03-11.pdf [25] https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2982-tsx-venture/auxx/195870-gold-x2-mining-delivers-preliminary-economic-assessment-and-updated-mineral-resource-estimate-for-the-moss-gold-project.html [26] The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. [27] https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2982-tsx-venture/auxx/195870-gold-x2-mining-delivers-preliminary-economic-assessment-and-updated-mineral-resource-estimate-for-the-moss-gold-project.html [28] https://goldx2.com/gold-x2-drills-117m-of-1-21-g-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/ [29] https://goldx2.com/gold-x2-announces-new-superion-shear-with-intercept-of-9-0m-of-3-13-g-t-au-including-3-95m-of-6-94-g-t-au/ [30] https://rangefront.com/blog/basics-of-mineral-exploration/ [31] Gold X2 Mining kickoff meeting transcript [32] https://www.canadianminingjournal.com/news/ontario-crowned-canadas-top-mining-destination-second-place-worldwide/ [33] https://news.ontario.ca/en/release/1006621/ontario-implements-one-project-one-process-to-build-mines-faster [34] https://news.ontario.ca/en/release/1006621/ontario-implements-one-project-one-process-to-build-mines-faster [35] https://news.ontario.ca/en/release/1007051/ontario-fast-tracks-one-of-canadas-premier-gold-mines-under-one-project-one-process [36] https://goldx2.com/wp-content/uploads/2026/03/GoldX2-Corporate-Presentation_2026-03-11.pdf [37] https://www.ontario.ca/files/2025-10/mem-gold-in-ontario-en-2025-10-03.pdf [38] https://goldx2.com/gold-x2-discovers-two-mineralized-shears-on-the-deaty-trend-including-17-0m-1-23-g-t-au/ [39] The potential quantity and grade of these targets is conceptual in nature; there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in these targets being delineated as mineral resources. [40] https://goldx2.com/gold-x2-mining-announces-agreement-to-assume-option-for-greenfields-target-at-star-lake/ [41] https://www.equinoxgold.com/news/equinox-gold-announces-groundbreaking-for-full-scale-construction-of-greenstone-mine-in-ontario-canada/ [42] https://www.equinoxgold.com/our-mines/greenstone-gold-mine/ [43] https://www.northernontariobusiness.com/industry-news/mining/two-gold-companies-eye-large-open-pit-mines-west-of-thunder-bay-11791440 [44] https://www.artemisgoldinc.com/news/media-releases/2025/artemis-gold-announces-commercial-production-at-blackwater-and-provides-2025-guidance [45] https://www.artemisgoldinc.com/news/artemis-gold-announces-record-q4-2025-production-results-and-2026-guidance [46] https://magazine.cim.org/en/news/2025/phase-2-of-blackwater-mine-expansion-moves-forward-en/ [47] https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-FOURTH-QUARTER-AND-FULL-YEAR-2025-RESULTS---RECORD-QUARTERLY-AND-ANNUAL-FREE-CASH-FLOW-2025-PRODUCTION-GUIDANCE-ACHIEVED-TOTAL-2025-SHAREHOLDER-RETURNS-OF-1-4-BILLION-DIVIDEND-INCREASED-BY-12-5-UPDATED-THREE-YEAR-GUIDANCE/default.aspx [48] https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-FOURTH-QUARTER-AND-FULL-YEAR-2025-RESULTS---RECORD-QUARTERLY-AND-ANNUAL-FREE-CASH-FLOW-2025-PRODUCTION-GUIDANCE-ACHIEVED-TOTAL-2025-SHAREHOLDER-RETURNS-OF-1-4-BILLION-DIVIDEND-INCREASED-BY-12-5-UPDATED-THREE-YEAR-GUIDANCE/default.aspx [49] https://www.agnicoeagle.com/English/operations-and-projects/global-operations-and-development-projects/meadowbank-complex/default.aspx [50] https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-FOURTH-QUARTER-AND-FULL-YEAR-2025-RESULTS---RECORD-QUARTERLY-AND-ANNUAL-FREE-CASH-FLOW-2025-PRODUCTION-GUIDANCE-ACHIEVED-TOTAL-2025-SHAREHOLDER-RETURNS-OF-1-4-BILLION-DIVIDEND-INCREASED-BY-12-5-UPDATED-THREE-YEAR-GUIDANCE/default.aspx [51] https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-FOURTH-QUARTER-AND-FULL-YEAR-2025-RESULTS---RECORD-QUARTERLY-AND-ANNUAL-FREE-CASH-FLOW-2025-PRODUCTION-GUIDANCE-ACHIEVED-TOTAL-2025-SHAREHOLDER-RETURNS-OF-1-4-BILLION-DIVIDEND-INCREASED-BY-12-5-UPDATED-THREE-YEAR-GUIDANCE/default.aspx [52] https://www.b2gold.com/operations-projects/producing/goose-mine-canada/default.aspx [53] https://s28.q4cdn.com/380852864/files/doc_news/2026/Jan/16/01-15-2026-Q4-and-FY2025-Production-Preview-FINAL.pdf [54] https://www.newsfilecorp.com/release/280758/IAMGOLD-Reports-Preliminary-2025-Operating-Results-2026-Guidance [55] https://www.globenewswire.com/news-release/2026/01/14/3218473/0/en/Equinox-Gold-Delivers-Record-Q4-Production-and-Record-FY-2025-Gold-Production-of-922-827-ounces-2026-Guidance-Represents-an-80-Increase-in-Annual-Canadian-Gold-Production.html [56] https://investingnews.com/artemis-gold-announces-record-q4-2025-production-results-and-2026-guidance/ [57] Gold X2 Mining kickoff meeting call [58] https://www.cruxinvestor.com/posts/gold-miners-record-cash-flow-fuels-capital-migration-down-market-cap-ladder [59] The PEA is preliminary in nature and includes inferred mineral resources. [60] https://goldx2.com/wp-content/uploads/2026/03/GoldX2-Corporate-Presentation_2026-03-11.pdf

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This Ontario Gold Project Secured $115.9 Million. Now the Growth Story Looks Much Bigger

A 2.46 Moz Indicated and 4.21 Moz Inferred Gold Project in Ontario. The Firm Behind Canada’s Greenstone Mine Wrote Its Economic Study. The World’s Third-Largest Gold Producer Took a 9.9% Stake. And the Drill Bit Is Still Turning.

The $115.9 Million Vote of Confidence

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The Doability Factor. Why Most Large Deposits Never Become Mines

Ontario. The Right Jurisdiction at the Right Moment

The Comparable Case. What Moss Is Worth When the Market Catches Up

The Team. Newmont DNA at the Top

The Catalyst Calendar. Every Quarter Has a Purpose

The Setup Is Right in Front of You

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The $115.9 Million Vote of Confidence

The Moss Gold Project. The Numbers That Define a Generational Asset

The Doability Factor. Why Most Large Deposits Never Become Mines

Ontario. The Right Jurisdiction at the Right Moment

The Comparable Case. What Moss Is Worth When the Market Catches Up

The Team. Newmont DNA at the Top

The Catalyst Calendar. Every Quarter Has a Purpose

The Setup Is Right in Front of You

Get Money Saving Tips

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Gold X2 Mining Inc.

Don't Hesitate! Get The Corporate Presentation Now

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Get Money
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