Mr. Michael Henrichsen reports

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

Gold X2 Mining Inc. has released the final assay results from its 2025 drilling campaign, with four holes targeting the marginal shears north of the QES zone and five holes targeting the eastern extension of the QES zone, at the Moss gold project in Northwestern Ontario, Canada.

Michael Henrichsen, chief executive officer of Gold X2, commented: "We are encouraged by the continued growth of high-grade mineralization at the Superion zone, with drilling identifying additional mineralized shears along the northern edge of the deposit. Equally important, the intersection of mineralized shears within the QES zone, in an area of the RPEEE pit previously modelled as waste in the PEA, underscores the project's meaningful upside potential and the opportunity to enhance economics through lower strip ratios."

Highlights:

• Four drill holes were drilled targeting additional Superion-style, high-grade marginal shears 300 to 500 metres (m) west of the Superion zone. Drilling intersected a new Superion-style shear with an intercept of:
  • 9.0 m of 3.13 grams per tonne (g/t) gold (Au) from 180.0 m in MQD-25-327, including:
    • 3.95 m of 6.94 g/t Au from 185.05 m.
• Drilling along the eastern edge of the QES zone has discovered new shallow mineralized shear zones south of the QES zone within the current conceptual RPEEE pit shell. The shear zones are currently modelled as waste and represent additional opportunities to lower the stripping ratio in a mining scenario. Notable intercepts include:
  • 42.0 m of 0.47 g/t Au from 56.0 m in MQD-25-274;
  • 16.7 m of 1.04 g/t Au from 53.0 m in MQD-25-287;
  • 7.0 m of 1.23 g/t Au from 77.0 m;
  • 24.0 m of 0.56 g/t Au from 202.0 m.
• Drilling in the east also identified a north-northeast-striking fault zone that suggests that the Span prospect is the sinistral offset and continuation of the QES zone.

Drilling activities were resumed north of QES as winter conditions returned at the end of 2025. Four drill holes -- MQD-25-318, MQD-25-322, MQD-25-327 and MQD-25-328 -- were drilled west of the Superion discovery to explore for additional high-grade marginal shears like those discovered at Superion.

Drilling encountered a northern wedge of dacitic volcanics containing five to 10 m scale porphyritic diorite dikes before intersecting broad the epidote-chlorite altered diorite complex. MQD-25-327 intersected a Superion-style shear zone along the contact between the volcanics and a porphyritic diorite dyke, highlighted by strong silicification and abundant carbonate and quartz-carbonate veining containing 3 to 5 per cent pyrite mineralization. The diorite complex was largely undeformed with a weak foliation developing as drilling approached the QES zone. These weakly foliated sections were moderately sericite-chlorite altered with 1 to 2 per cent pyrite plus or minus chalcopyrite, and returned broad zones of low-grade mineralization, including: 32.3 m of 0.52 g/t Au from 329.2 m, including 6.2 m of 1.13 g/t Au, in MQD-25-322; 18.1 m of 0.54 g/t Au from 299.9 m in MQD-25-327; and 16.5 m of 0.65 g/t Au from 386.0 m in MQD-25-328. These intercepts represent extensions of existing marginal shears modelled in the current MRE (mineral resource estimate).

Five holes -- MQD-25-244, MQD-25-256, MQD-25-269, MQD-25-274 and MQD-25-287 -- were drilled to test the potential eastern extension of the QES zone, which had previously been defined by low-grade intercepts in historical drilling. These holes confirmed the results of historical drill holes but also discovered a three to five m wide north-northeast-striking fault zone, the Sloane fault, that appears represent an 1,800 m sinistral offset of the Moss deposit. This indicates that the Span prospect could be the probable offset extension of the QES zone.

Notwithstanding the faulted offset of the QES zone, these drill holes discovered additional near-surface marginal shears south of the QES zone with intercepts ranging from five to 40 m wide. These shears lie within the current resource RPEEE pit shell in areas currently modelled as waste, representing further opportunity to reduce the strip ratio in a mining scenario.

Analytical and QA/QC (quality assurance/quality control) procedures

The HQ-diameter drill core has been oriented using ACTIII or equivalent tools and validated in the core shack. All core has been sawed in half, cut just off the core orientation line (bottom of hole), with the right half (looking downhole) 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 ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. 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. Samples were analyzed for gold via fire assay with an AA (atomic absorption) finish (Au-AA23) and 48 pathfinder elements via ICP-MS (inductively coupled plasma mass spectrometry) after four-acid digestion (ME-MS61). Samples that assayed over 10 parts per million (ppm) Au were rerun via fire assay with a gravimetric finish (Au-GRA21).

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 the company's secure on-line database and evaluated to meet its 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 10 times the quoted lower detection limit of the analytical method. The results of the continuing analytical quality control program are evaluated and reported to Gold X2 by Orix Geoscience Inc.

Qualified person

Peter Flindell, PGeo, MAusIMM, MAIG, vice-president, exploration, 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.

Grant of stock options

The company also wishes to announce that, pursuant to the company's omnibus incentive plan, it granted a total of 150,000 stock options to an employee of the company. The options are each exercisable to purchase one common share of the company at an exercise price of $1.49 for a period of five years.

Service provider engagements

The company also announces that it has engaged the following service providers to advise and co-ordinate market making and digital media services on behalf of the company.

The company has engaged ICP Securities Inc., a Toronto-based CIRO dealer-member that specializes in automated market-making and liquidity provision, to provide market-making services commencing April 6, 2026, for an initial term of four months, which shall be automatically renewed for subsequent one-month terms. The agreement can be terminated by either party providing at least 30 days of written notice of termination prior to the end of the initial term or additional term, as applicable. ICP will be paid a monthly fee of $7,500 (Canadian), plus applicable taxes, at the commencement of the initial term and each additional term, as applicable. ICP is an arm's-length party to the company, and ICP has no present interest, directly or indirectly, in the company or its securities. In connection with the provision of market-making services, ICP will be responsible for the costs it incurs in buying and selling the company's shares, and no third party will be providing funds or securities for the market-making activities.

The company has engaged Native Ads Inc., a Vancouver- and New York-based full-service advertising agency, to provide strategic digital media, marketing and data analytic services to the company commencing April 6, 2026. The company will make the total upfront payment of $250,000 (U.S.) to Native Ads for Services covering a term of 24 months, or until the retainer has been depleted. The agreement may be terminated at any time upon 30 days of written notice. Native Ads is an arm's-length party to the company, and Native Ads has no present interest, directly or indirectly, in the company or its securities, or any right or intent to acquire such an interest.

The engagement of each of the contractors remains subject to approval by the TSX Venture Exchange.

About Gold X2 Mining Inc.

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 1 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-per-cent-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 work force. The company has invested over $100-million of new capital and completed approximately 100,000 m of drilling on the Moss gold project, which, in aggregate, has had over 300,000 m of drilling. The 2026 updated National Instrument 43-101 mineral resource estimate for the Moss and East Coldstream deposits has expanded to 2,458,000 ounces of indicated gold resources at 1.04 g/t Au, contained within 73.8 million tonnes, and 4,209,000 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 3.16 million ounces of indicated silver resources at 1.53 g/t Ag, contained within 64.3 million tonnes, and 6,273,000 ounces of inferred silver resources at 1.55 g/t Ag, contained within 125.9 million tonnes. 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 an 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+.

We seek Safe Harbor.