Gold is not going back.

Central banks have been buying record amounts of gold every year.¹ China has been buying 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

And here is what is coming.

The world’s six largest gold producers pocketed nearly $24 billion in free cash flow in 2025 alone.⁶ Newmont brought in $7.3 billion. Agnico Eagle generated $4.4 billion. 

But they have a problem. Their reserves are running dry.

S&P Global tracked just six major gold discoveries worldwide since 2020. Six. They added roughly 27 million ounces combined to the global database.⁷ The world’s top producers burn through that much in less than two years.⁸

So, they are paying up for whatever is left.

Great Bear was acquired for $1.8 billion.⁹ Osisko for $2.2 billion.¹⁰ Probe Gold sold at a 39% premium for $780 million, just weeks ago.¹¹ Every deal closes another door.

Against this backdrop, there is a gold project in Northwestern Ontario with 2.46 million ounces Indicated and 4.21 million ounces Inferred, sitting off the Trans-Canada Highway, analyzed by the same firm that built Canada’s Greenstone Mine, and already supported by investment from the world’s third-largest gold producer

The $115 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 Ontario.¹² The deposit holds 2.46 million ounces Indicated and 4.21 million ounces of gold Inferred across a 35-kilometre mineralized trend. And it is, by management’s own admission, substantially under-drilled.

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.

In February 2026, Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) closed a financing for $115.9 million welcoming investment from cornerstone strategic investors.¹³

AngloGold Ashanti, one of the world’s largest gold miners, participated on the back end for a total investment of $53.09M and now hold 9.9% of Gold X2 Mining.¹⁴ They have anti-dilution rights. They have seats on a joint technical committee. 

AngloGold did not come alone. Hess Capital, the family office behind Hess Corporation’s landmark sale to Shell for US$53 billion,¹⁶ committed $22.6 million alongside them.¹⁷

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. 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.

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

The Moss Gold Project. The Numbers That Matter

Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) controls 48,445 hectares in Northwestern Ontario, 110 kilometres west of Thunder Bay. The Moss deposit is the centre of mass. The East Coldstream Deposit adds further scale.

Here is what the Mineral Resource Estimate (effective January 16, 2026, reported at a cut-off grade of 0.35 g/t Au within an optimized pit shell) says:^{20 21}

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)

The PEA, authored by G Mining Services, envisions a 30,000-tonne-per-day 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.²²

Initial capital: $2.001 billion. Cash costs: US$999 per ounce. AISC: US$1,188 per ounce.²³ Those cost numbers place Gold X2 Mining’s (TSXV:AUXX) (OTCQB:GSHRF) Moss in the second quartile of the global gold cost curve.

In March 2026, drilling hit 117 metres at 1.21 g/t Au, including 10 metres at 4.37 g/t Au, 280 metres beneath the current resource pit shell.²⁴ Those ounces are not in the model.

The Comparable Case. What the Numbers Say

The same engineering firm that built Canada’s Greenstone Mine just authored the Moss PEA. 

Greenstone, owned by Equinox Gold, poured first gold in May 2024 and reached commercial production in November 2024.²⁶ producing 250,000 to 300,000 ounces annually and expected to average more than 320,000 ounces per year for the next 10 years. Same G Mining methodology. Same Ontario geology. Same Trans-Canada Highway corridor.

Artemis Gold and its Blackwater Mine in British Columbia. A single-asset Canadian gold junior. Strategic backing. Disciplined stage-gating. Phased production approach. Artemis declared commercial production in May 2025.²⁷ The company used phased production to build into a nearly 200,000 ounce per year operation.²⁸ It is now planning an expanded Phase 2 targeting 500,000 to 525,000 ounces annually.²⁹

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.

The Team. Newmont DNA. Mine-Builder Discipline

They are not learning on the job.

Michael Henrichsen, CEO, was the global head of structural geology at Newmont Mining, the world’s largest gold producer. He expanded the reserves base at Newmont’s Ahafo district in Ghana.

Peter Flindell, VP Operations, brings 40+ years of mine-building experience, including 12 years at Newmont and 11 years at Avocet Mining.

Michael Kanevsky, CFO, was previously CFO of New Found Gold Corp., one of the most significant high-grade gold discovery stories in recent Canadian mining history. Chairman Tom Obradovich co-founded Aurelian Resources, which discovered the Fruta del Norte deposit in Ecuador.

The Catalyst Calendar

The 140,000-metre drill program is already underway. 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 Study. 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.⁴⁰

Feasibility Study and Environmental Assessment submission targeted for H2 2027. Environmental baseline studies have been underway since 2021. Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) does not have a gap quarter in its calendar.

The Setup Is Right in Front of You

AngloGold Ashanti holds a 9.9% interest.

The resource grew 73% in one update.

The project is off the Trans-Canada Highway. Power is 12 kilometres from site. Thunder Bay is 110 kilometres to the east.

Ontario is ranked #2 globally for mining investment.

The 140,000-metre drill program is turning. Results are flowing. Gold is near all-time highs.

The window to get in ahead of the catalyst stack is now.

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*All figures in Canadian dollars unless otherwise stated.

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 and sensitivity analyses at gold prices above the PEA base case; the results of the Preliminary Economic Assessment, including economic projections under multiple gold price scenarios; the planned 140,000-metre drill program and anticipated bi-weekly drill results; management’s expectation that infill drilling will support the conversion of Inferred Mineral Resources to Indicated Mineral Resources ahead of the Feasibility Study; the potential for underground mineralization beneath the current resource pit shell; 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; the Company’s aspiration to rank among Canada’s top gold producers based on PEA production estimates; comparisons to other Canadian gold mining projects, including Equinox Gold’s Greenstone Mine and Artemis Gold’s Blackwater Mine, which imply a similar development trajectory; the expectation that the Company will maintain a continuous cadence of material developments and catalysts through 2026 and 2027 with no gap quarters; 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. Sensitivity analyses presented in this document at gold prices above the PEA base case are hypothetical and are included for illustrative purposes only; they do not represent forecasts or projections of future results.

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, including the assumption that infill drilling will be sufficient to convert a meaningful portion of Inferred Mineral Resources to Indicated Mineral Resources; the assumption that mineralization intercepted beneath the current resource pit shell may indicate underground potential that could add to the resource base; 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; the assumption that Hess Capital will provide the anticipated consulting services; the assumption that the Company will generate a continuous flow of material developments and catalysts without interruption; the assumption that the development trajectory of comparable projects, including Equinox Gold’s Greenstone Mine and Artemis Gold’s Blackwater Mine, is indicative of the potential development path for the Moss Gold Project; 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; the risk that infill drilling may not result in the successful conversion of Inferred Mineral Resources to Indicated or Measured Mineral Resources, which could materially affect the Feasibility Study and project economics; the risk that mineralization intercepted beneath the current resource pit shell may not be confirmed by further drilling or may not prove economically viable for underground extraction; volatility in gold and silver prices, which may decline below levels assumed in the PEA, and the risk that economic outcomes under sensitivity analyses at higher gold prices may not materialize; 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, including the risk that Hess Capital may not provide the anticipated consulting services; risks related to maintaining adequate insurance coverage; risks associated with the Company’s limited operating history and reliance on a single project; the risk that comparisons to other Canadian gold mining projects are not indicative of the Company’s future performance, as each project has unique geological, technical, financial, and operational characteristics; the risk that the Company may not maintain a continuous cadence of catalysts or material developments as anticipated; 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.