Gold X2 Mining Inc. (NYSE American: AUXX) (TSX-V: AUXX) (FSE: DF80) is pleased to announce new assay results from exploration drilling targeting the down-dip extension of the QES Zone at the Moss Gold Project in Northwest Ontario, Canada.

Michael Henrichsen, CEO and Director of Gold X2, commented: “We are very encouraged by these results, which demonstrate the continuity of broad gold mineralization over approximately 200-metre drill widths with internal high-grade zones well below the current pit shell. Importantly, these results reinforce the potential to expand the open pit to depth and add meaningful ounces to our mineral resource, while also highlighting the opportunity to define additional underground resources through future drilling. We look forward to building on this momentum as we continue to demonstrate the scale and growth potential of the Moss deposit ahead of our updated mineral resource estimate in Q1 2027.”

Exploration Highlights

Assay results have been received from two drillholes targeting the down-dip extension of the QES Zone, which were completed to support evaluation of open pit expansion potential. Drilled on section, one drillhole intersected gold mineralization below the current RPEEE (Reasonable Prospects for Eventual Economic Extraction) pit shell and the second intersected gold mineralization near the base of the pit shell (Figure 1). Both drill holes returned broad intervals of low-grade gold mineralization (<1 g/t Au) over core lengths up to 258m (approximately 188m true width), including higher-grade (>2 g/t Au) zones up to 33m core length (approximately 24m true width). Gold mineralization is associated with a near vertical shear zone and true widths are estimated to be 55-75% of core length. Significant intercepts received to date include:

Outside current RPEEE pit shell (expansion):

• 26.0m of 1.75 g/t Au from 125.0m in MQD-26-475, including
  • 22.0m of 2.05 g/t Au including 2.4m of 10.7g/t Au, and
• 258.4m of 0.97 g/t Au from 603.0m, including
  • 17.0m of 2.08 g/t Au and
  • 32.9m of 2.00 g/t Au and
  • 18.0m of 2.05 g/t Au

Within current RPEEE pit shell (infill):

• 192.0m of 0.90 g/t Au from 447.0m in MQD-26-477, including
  • 23.1m of 2.65 g/t Au including 6.0m of 3.98 g/t Au

 Figure 1: Plan view of Moss Main and QES zones with modeled shears, reported drillholes highlighted and traces of QES dip extension drilling with pending assay results.

Drilling Below QES RPEEE Pit Shell Reinforces Extension Potential

In May 2026, Gold X2 announced the intention to drill up to 63,000m of resource expansion drilling targeting extensions below and adjacent to the current RPEEE (Reasonable Prospects for Eventual Economic Extraction) pit shell. To date, approximately 19,000m have been drilled to test continuity of down-dip gold mineralization of the QES Zone, focusing within approximately 100m of the base of the RPEEE pit shell over a strike length of approximately 900m. (Figure 2)

New (Table 1) and restated previously reported assay results (Table 2) continue to suggest that the gold-bearing shear zone is continuous from the bottom of the current RPEEE pit shell through the intercepts in drillholes MQD-26-475 (258.4 m of 0.97 g/t Au), approximately 130m below the RPEEE pit shell (this news release) and MQD-25-326 (198.5m of 0.91 g/t Au, see March 3, 2026 news release), 280m below the RPEEE pit shell (Figure 1). Previously reported results in holes MQD-26-465 (157.8m of 0.90 g/t Au including 12.0 m of 2.65 g/t Au) and MQD-26-474 (173.0m of 0.89 g/t Au including 8.0m of 4.86 g/t Au; see September 10, 2026 news release) support continuity of the gold-bearing shear zone over a strike length of approximately 160m. In all drillholes, higher-grade gold mineralization (>2 g/t Au) is associated with intervals of apparent increased strain characterized by silicification and disseminated pyrite, which is consistent with the interpreted steep southeast dipping shear zones modeled at shallower depths. These gold assay results, along with the interpreted geological continuity of structures controlling gold mineralization, present a significant exploration target with the potential to define zones of higher-grade (>2 g/t) gold mineralization over true widths in excess of 10 metres below the current RPEEE pit shell.

Figure 2: Cross section through holes MQD-26-475 and MQD-25-326 with reported intersections relative to current resource block model and RPEEE pit shell.

Figure 3: Long section showing location of reported and pending drill holes relative to QES Zone and the current RPEEE pit shell.

Table 1: New Assay Results

Table 2: Previously Reported QES Down-Dip Intercepts

Shallow Intercept Outside Current RPEEE Pit Shell

The shallow high-grade intercept in hole 26-MQD-475 (26.0m of 1.75 g/t Au) is interpreted to be associated with the Boundary Zone, a series of discontinuous lenses of high-grade gold mineralization located 300-400 m southeast of the Moss Deposit. Although historical drilling constrains gold mineralization along strike and up dip, this intercept demonstrates the presence of localized, shallow, high-grade mineralization beyond the current RPEEE pit shell. Gold X2 intends to further evaluate the Boundary Zone as part of ongoing geological modelling and future exploration drill programs, including drilling planned for the QES Extension.

Additional Results from QES Extension Expected in November

Additional assay results from the remaining 25 QES Extension drillholes are expected in the coming weeks and are expected to be released shortly after receipt.

Table 3: Drill Collars

Analytical and QA/QC Procedures

All drill core is NQ diameter drill core and has been visually validated in the core shack, rotated, and reconnected. Structural orientation data was captured by acoustic 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 to 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 ALS Geochemistry in Thunder Bay for sample preparation. Samples were analysed for gold via PhotonAssay^TM (“Au-PA02“) in Thunder Bay and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61“) in Vancouver. ALS is 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 ALS quality assurance / quality control 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 online 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 manufacturer 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

Steven Scott, PGeo, Chief Geologist 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. Scott has verified the data disclosed. To verify the information related to the drill program at the Moss Gold Project, Mr. Scott 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.

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 2026 updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects mineral resource estimate 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 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 profiles on SEDAR+ and EDGAR. For more information, please visit SEDAR+ (www.sedarplus.ca), EDGAR (www.sec.gov) and the Company’s website (www.goldx2.com).