Mr. Michael Thompson of Kesselrun reports

KESSELRUN RESOURCES ANNOUNCES SHAREHOLDER AND COURT APPROVAL FOR PLAN OF ARRANGEMENT WITH GOLD X2 MINING

At the special meeting of shareholders of Kesselrun Resources Ltd. held on Nov. 21, 2025, Kesselrun shareholders voted overwhelmingly in favour of the previously announced plan of arrangement between Gold X2 Mining Inc. and Kesselrun.

Additionally, today, Kesselrun received a final order of the Supreme Court of British Columbia approving the arrangement.

Under the arrangement, Gold X2 will acquire all of the issued and outstanding Kesselrun shares. In consideration therefore, each Kesselrun share will be exchanged for approximately 0.2152 of one common share in the capital of Gold X2 and approximately 2.13 cents in cash. Each outstanding stock option of Kesselrun will entitle the holder, upon exercise or settlement, to receive the number of Gold X2 shares that such holder would have been entitled to receive pursuant to the arrangement, had the security been exercised or settled immediately prior to the effective date of the arrangement.

Shareholders holding a total of 55,219,208 Kesselrun shares were represented in person or by proxy at the meeting, representing 58.70 per cent of the 94,071,837 issued and outstanding shares entitled to vote as of Oct. 15, 2025, the record date for the meeting. The arrangement required the approval of at least two-thirds (66-2/3rds per cent) of the votes cast by shareholders present in person or represented by proxy and entitled to vote at the meeting. Of the votes cast at the meeting, 99.89 per cent of the votes cast by shareholders were in favour of the arrangement.

Completion of the arrangement is subject to the satisfaction of customary closing conditions for a transaction of this nature, including receipt of approval of the TSX Venture Exchange. Subject to the satisfaction (or waiver) of the closing conditions, it is expected that the arrangement will be completed shortly. In connection with completion of the arrangement, it is expected that Kesselrun shares will be delisted from the TSX Venture Exchange.

About Kesselrun Resources Ltd.

Kesselrun Resources is a Thunder Bay, Ont.-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise in Northwestern Ontario.

Kesselrun holds a 100-per-cent interest in the Huronian gold project, covering 293 contiguous unpatented mining claims plus four patented mining claims totalling approximately 5,160 hectares, located in Moss township, Thunder Bay mining division, Ontario, and a 100-per-cent interest in the Bluffpoint gold project, comprising 449 mining claims covering approximately 9,227 hectares, located in Bluffpoint Lake township, with portions extending into the townships of Lawrence Lake, Napanee Lake and Barker Bay in the Kenora mining division of Northwestern Ontario. The Huronian gold project is situated in the highly prolific Shebandowan greenstone belt, located in the AbitibiWawa subprovince of the Archean Superior province, and covers the southwest strike extension of the geology that hosts Gold X2's Moss gold project.

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 $75-million of new capital and completed approximately 100,000 metres of drilling on the Moss gold project, which, in aggregate, has had over 255,000 metres of drilling. The 2024 updated National Instrument 43-101 mineral resource estimate (MRE) has expanded to 1.54 million ounces of indicated gold resources at 1.23 grams per tonne (g/t) gold (Au), contained within 38.96 million tonnes and 5.20 million ounces of inferred gold resources at 1.11 g/t Au, contained within 146.24 million tonnes. The MRE only encompasses 3.6 kilometres of the 35-plus-kilometre mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see National Instrument 43-101 technical report titled: "Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada," dated March 20, 2024, with an effective date of Jan. 31, 2024, available under the company's SEDAR+ profile.

We seek Safe Harbor.