Gold X2 Mining: Strong PEA and More Resources for the Moss Gold Project in Canada

Gold X2 Mining – MOS Gold Project Update & Investment News

Key Concepts:

• PA (Preliminary Assessment): A high-level economic assessment of a mining project, used to determine its potential viability.
• NPV (Net Present Value): The difference between the present value of cash inflows and the present value of cash outflows over a period of time. A positive NPV indicates a potentially profitable project.
• IRR (Internal Rate of Return): The discount rate that makes the NPV of all cash flows from a particular project equal to zero.
• Payback Period: The length of time required for an investment to generate enough revenue to cover its initial cost.
• Indicated Resources: A category of mineral resources with a higher level of geological confidence than inferred resources.
• Inferred Resources: A category of mineral resources with a lower level of geological confidence than indicated resources.
• g/t (grams per tonne): A unit of concentration used to express the grade of a mineral deposit.
• Cost Cash Costs: All cash expenditures required to operate a mine, plus certain capital expenditures.

1. MOS Gold Project – Preliminary Assessment Results

Gold X2 Mining has released the results of a Preliminary Assessment (PA) and an updated mineral resource estimate for its MOS gold project located in Ontario, Canada. The PA demonstrates significant economic potential, with results highly sensitive to gold and silver prices.

• Base Case Scenario ($2,750/oz Gold, $35/oz Silver): After-tax Net Present Value (NPV) of $2.232 billion, Internal Rate of Return (IRR) of 22.1%, and a payback period of 3.2 years.
• Optimistic Scenario ($4,600/oz Gold, $90/oz Silver): After-tax NPV of $6.578 billion, IRR of 48.6%, and a payback period of only one year.

The PA suggests the MOS project has the potential to become one of Canada’s ten largest gold mines, with estimated average annual gold production of approximately 265,000 ounces and silver production of 374,000 ounces over a 13.2-year mine life. The project boasts strong margins, with total costs of $1,188 US per ounce and cash costs of $999 US per ounce, placing it in the second quartile of the cost curve. Projected free cash flow after tax is $4.035 billion at $2,750/oz gold and $10.466 billion at $4,600/oz gold.

2. Updated Mineral Resource Estimate

The updated mineral resource estimate reveals substantial gold and silver reserves:

• Indicated Resources: 2.125 million ounces of gold at a grade of 1.03 g/t gold and 3.16 million ounces of silver at a grade of 1.53 g/t silver, contained within 64.3 million tons of rock.
• Inferred Resources: 3.91 million ounces of gold at 0.97 g/t gold and 6.273 million ounces of silver at 1.55 g/t silver, contained within 125.9 million tons.

This represents a 73% increase in indicated gold ounces, attributed to new structural and lithological models and drilling completed in 2025.

3. Recent Drilling Results

Recent drilling in the MOS Main Zone has yielded promising results:

• 73.88 meters at 1.3 g/t gold, including 10.8 meters at 2.5 g/t gold.
• 49 meters at 2.13 g/t gold, including 15 meters at 3.3 g/t gold and 3 meters at 12.5 g/t gold.

These results further demonstrate the potential for high-grade mineralization within the project area.

4. Strategic Investment & Financing

Gold X2 Mining has secured an unsecured strategic investment package of approximately $115 million. This is comprised of:

• Sale and issuance of approximately 75 million shares at $1.23 per share.
• Sale and issuance of 23.8 million units at $0.95 per unit.

AngloGold Ashanti has committed to purchasing just under 59 million common shares, representing approximately 9.9% of the company’s issued and outstanding common shares. An unnamed investor will purchase 16.67 million common shares. The proceeds from the unit offering will be used to advance the development of the MOS gold project. The offering is expected to close around February 19th, 2026, at which point H Capital will provide advisory services to Gold X2.

5. Additional Resources & Disclaimer

The company is featured in the current Swiss Resource Capital Precious Metals Report, available for free download at arushtominersreports.com. The presenter noted a potential conflict of interest, stating that the discussed stock is or will be part of the SRC mining special situation certificate, and SRC, its employees, or the presenter may already be or become shareholders of the company.

Notable Quote:

“As you can see, things are really taking off at Gold X2 mining. A top PA resource increases and for now enough cash to continue developing a worldclass project.” – Presenter, Commodity TV.

Synthesis/Conclusion:

Gold X2 Mining’s MOS gold project demonstrates significant economic potential, particularly at higher gold prices. The updated resource estimate and positive drilling results support the project’s viability. The recently secured $115 million investment package provides the necessary capital to advance development. The company presents a compelling investment opportunity, particularly given the project’s strong economic metrics and potential for growth. The PA results indicate a realistic base case scenario with clear prospects for improved performance as gold prices continue to rise.