Gold X2 consolidates shares effective immediately

Vancouver, British Columbia--(Newsfile Corp. - July 27, 2026) - Gold X2 Mining Inc. (TSXV: AUXX) (OTCQB: GSHRF) (FSE: DF8) (" Gold X2 " or the " Company ") is pleased to announce that the effective date for the previously announced share consolidation (the " Consolidation ") will be July 29, 2026. As outlined in the Company's news release dated July 15, 2026, the Consolidation will be conducted on the basis of one (1) post-consolidation common share (" Post-Consolidation Share ") for every six (6) pre-consolidation common shares (" Pre-Consolidation Share "). The Post-Consolidation Shares are scheduled to begin trading on the TSX Venture Exchange (the " TSX-V ") at the market open on July 29, 2026 under the existing symbol "AUXX".

Following the Consolidation, the new CUSIP number for the common shares will be 38076G509 and the new ISIN number will be CA38076G5095. No fractional shares will be issued as a result of the Consolidation and no cash consideration will be paid in respect of fractional shares. Any fractional interest in shares resulting from the Consolidation will be rounded up to the next whole share if the fraction is one-half or greater, and down if the fraction is less than one-half.

In all other respects, the Post-Consolidation Shares will have the same attributes as the Pre-Consolidation shares. Following the Consolidation, the Company will have approximately 101,110,094 common shares issued and outstanding. The exercise or conversion price and the number of common shares issuable under any of the Company's outstanding convertible securities will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms.

The Company's transfer agent, Odyssey Trust Company (" Odyssey "), will mail a letter of transmittal to registered shareholders of the Company (the " Registered Shareholders ") who hold Pre-Consolidation Shares represented by share certificates. The letter of transmittal will provide instructions on exchanging Pre-Consolidation Share certificates for Post-Consolidation Share certificates or Direct Registration System (" DRS ") advices. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Odyssey in accordance with the instructions in the letter of transmittal.

Until surrendered, each share certificate representing Pre-Consolidation Shares will be deemed to represent the number of whole Post-Consolidation Shares to which the shareholder is entitled as a result of the Consolidation. The Registered Shareholders whose Pre-Consolidation Shares are represented by a DRS will not be required to complete and sign a letter of transmittal, and a DRS statement representing their Post-Consolidation Shares will automatically be issued to those Registered Shareholders by Odyssey. The Consolidation remains subject to the final approval of the TSX-V.

Additional details regarding the Consolidation can be found in the Company's news release dated July 15, 2026 available under the Company's profile on SEDAR+ at www.sedarplus.ca . 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 Company has invested over $150 million of new capital and completed approximately 100,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 300,000 meters of drilling. The 2026 updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ") mineral resource estimate (" MRE ") 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 (" 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 a 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+. For more information, please visit SEDAR+ ( www.sedarplus.ca ) and the Company's website ( www.goldx2.com ).

Peter Flindell, PGeo, MAusIMM, MAIG, Chief Operating Officer, of the Company, and a qualified person under NI 43-101, has approved the scientific and technical information contained in this news release. ON BEHALF OF THE BOARD "Michael Henrichsen" For More Information - Please Contact: Michael Henrichsen President, Chief Executive Officer and Director Gold X2 Mining Inc. E: mhenrichsen@goldx2.com W: www.goldx2.com T: 1-604-404-4335 Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include, among others, plans to complete the Consolidation and the terms thereof, including the treatment of convertible securities; the effect of the Consolidation on the Company's capital structure, including the number of Post-Consolidation Shares outstanding after the Consolidation; the mailing of the letter of transmittal; the treatment of fractional shares and the receipt of required approvals for the Consolidation, and the timing thereof. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management's expectations; the Company's exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company's limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; satisfaction of all applicable requirements necessary to effect the Consolidation; the receipt of all required approvals for the Consolidation; the Consolidation not being realized and other risks associated with executing the Company's objectives and strategies as well as those risk factors discussed in the Company's continuous disclosure documents filed under the Company's SEDAR+ profile at www.sedarplus.ca . The forward-looking information in this news release is based on management's reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company's ability to fund its programs; the Company's ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and effective manner; the Company's ability to obtain financing as and when required and on reasonable terms; that the Company's activities will be in accordance with the Company's public statements and stated goals; the Company's exploration work will deliver the results expected; no delays in obtaining required approvals with respect to the Consolidation; that all conditions precedent to the completion of the Consolidation will be satisfied in a timely manner, if at all; and that there will be no material adverse change or disruptions affecting the Company or its properties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date.

The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306544 Newsfile Corp. July 27, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com