Price Target Changed • Jun 09
Price target increased by 35% to CA$1.75 Up from CA$1.30, the current price target is an average from 2 analysts. New target price is 47% above last closing price of CA$1.19. Stock is up 272% over the past year. The company is forecast to post a net loss per share of CA$0.03 next year compared to a net loss per share of CA$0.063 last year. Announcement • Jun 04
Gold X2 Mining Reports Assay Results from Infill Drilling At Moss Gold Project Gold X2 Mining Inc. has announced the latest assays from its infill drilling program targeting the QES Zone at the Moss Gold Project in Northwest Ontario, Canada. Eighteen holes, including four extensions to holes drilled in 2025, were drilled through the QES Zone to upgrade Inferred resources to the Indicated category within the current Reasonable Prospects for Eventual Economic Extraction open pit shell. Drilling continues to delineate a larger mineralized system than predicted by the Inferred resource with poorly mineralized wall rock zones excluded from the mineral resource estimate converting to mineralized secondary shears. Globally, the drill results from the eighteen holes infilling the mineral resource estimate volume are showing 67% wider zones at an average 19% lower grade when compared to the current mineral resource estimate. Intercepts of modelled mineralized shears are reconciling well. The additional volume reflects the discovery of secondary shears in zones previous modelled as wall rock and excluded from the mineral resource estimate, as well as by the addition of marginal shears along the north side of QES not tested by the original southern collared drill programs. As these zones are not in the mineral resource estimate, they have been modelled as low grade or waste. As such the grades intersected by these infill drill holes are higher grade than in the model despite having an overall average lower grade than the modelled shears. The net result is a significant replacement of waste with mineralization in the Reasonable Prospects for Eventual Economic Extraction pit shell. Hole MQD-26-366: Strong to moderately sheared granodiorite with zones of sericite-hematite-silica dominated alteration yielding the high-grade intercept of 3.0m of 7.67 g/t Au from 349.0m and 6.0m of 5.82 g/t Au from 362.0m, part of the greater interval of 86.0m of 1.37 g/t Au from 314.0m. Significant intercepts are summarized in Table 1. Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres /tonne gold. True widths are approximate and assume a subvertical body. The drill core is a mix of HQ and NQ diameter drill core has been visually validated in the core shack, rotated, and reconnected. Structural orientation data was captured by acoustical 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 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 Paragon Geochemical in Timmins for sample preparation. Samples were analysed for gold via PhotonAssay™ by Paragon’s laboratory in Hamilton and then shipped to Activation Laboratories Ancaster for 60 pathfinder elements via ICP-MS after four-acid digestion. Paragon and Activation Laboratories are accredited by the Standards Council of Canada for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. In addition to Paragon 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 secure on-line database and evaluated to meet 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 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. Peter Flindell, Chief Operating Officer, 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 quality assurance /quality control 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. New Risk • May 18
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$1.4m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Significant insider selling over the past 3 months (CA$1.4m sold). 
