Mr. Michael Henrichsen reports

GOLD X2 ANNOUNCES SHARE CONSOLIDATION EFFECTIVE DATE

The effective date for Gold X2 Mining Inc.'s previously announced share 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 postconsolidation common share for every six preconsolidation common shares.

The postconsolidation shares are scheduled to begin trading on the TSX Venture Exchange 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 (international securities identification 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 rounded down if the fraction is less than one-half. In all other respects, the postconsolidation shares will have the same attributes as the preconsolidation 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, will mail a letter of transmittal to registered shareholders of the company who hold preconsolidation shares represented by share certificates. The letter of transmittal will provide instructions on exchanging preconsolidation share certificates for postconsolidation 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 preconsolidation shares will be deemed to represent the number of whole postconsolidation shares to which the shareholder is entitled as a result of the consolidation. The registered shareholders whose preconsolidation shares are represented by a DRS will not be required to complete and sign a letter of transmittal, and a DRS statement representing their postconsolidation 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+.

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 former 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 a skilled work force. The company has invested over $150-million of new capital and completed approximately 100,000 metres of drilling on the Moss gold project, which, in aggregate, has had over 300,000 metres of drilling. The 2026 updated National Instrument 43-101, Standards of Disclosure for Mineral Projects, mineral resource estimate (MRE) for the Moss and East Coldstream deposits has expanded to 2,458,000 ounces of indicated gold resources at 1.04 grams per tonne gold, contained within 73.8 million tonnes, and 4,209,000 ounces of inferred gold resources at 0.97 gram per tonne gold, 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 grams per tonne silver, contained within 64.3 million tonnes, and 6,273,000 ounces of inferred silver resources at 1.55 grams per tonne silver, 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+.

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.

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