Goldshore Resources Inc. press release

Gold X2 Drills 117m of 1.12g/t Au, Including 10m of 4.37g/t Au; High-Grade Zone Intersected 280m Beneath the Resource Pit Demonstrating Underground Potential at the Moss Gold Deposit

2026-03-03

TSXV - TSX Venture Exchange · Gold · Copper · Silver · Tellurium · Iron · Graphite · Sulfur · Canada · Drill Results

Gold X2 Drills 117m of 1.12g/t Au, Including 10m of 4.37g/t Au; High-Grade Zone Intersected 280m Beneath the Resource Pit Demonstrating Underground Potential at the Moss Gold Deposit

Significant intercept at depth extends mineralization in the QES Zone at the Moss Gold Project with higher-grade shoots highlighting underground potential

Near surface intercept in the Superion Zone demonstrates the potential to add to near surface resources

Vancouver, British Columbia--(Newsfile Corp. - March 3, 2026) - Gold X2 Mining Inc. (TSXV: AUXX) (OTCQB: GSHRF) (FSE: DF8) ("Gold X2" or the "Company"), is pleased to announce initial drilling results from two drill holes targeting high grade mineralization at depth in the QES Zone at the Moss Gold Project in Northwest Ontario, Canada (the "Moss Gold Project").

Michael Henrichsen, CEO of Gold X2, commented, "This drilling was designed to test the system for higher-grade mineralization that could potentially support underground mining in the future and to demonstrate the open pit can be extended to depth. The discovery of higher-grade mineralization 280 meters beneath the RPEEE pit represents a transformative development in our exploration process and growth trajectory of the project. Our team has worked very hard over the past year to advance our understanding of high-grade mineralization distribution within the deposit. This effort has yielded strong results, with our first drill hole confirming higher-grade mineralized shoots at depth. The Company plans to follow up promptly on these results to reveal the true potential of the mineralized system."

Highlights

Two drillholes targeting shallowly plunging high-grade shoots within the core shears of the QES Zone up to 280 meters beneath the current RPEEE pit shell are illustrated in (Figure 1). The results not only confirm the continuity of the QES Zone at depth with the discovery of a new high-grade shoot, but also expand the Superion Zone near surface (Figure 2). See (Table 1) for full assays within the mineralized zone. Select higher-grade intercepts include:

MQD-25-326:Superion Zone: 23.0m of 1.01 g/t Au from 183.0m

QES Zone: 117.0m of 1.21 g/t Au from 816m, including19.0m of 3.33 g/t Au from 826.0 m, including10.0m of 4.37 g/t Au, including5.0m of 7.24 g/t Au

MQD-25-330:QES Zone: 28.95m of 1.18 g/t Au from 730.05m, including 10.3m of 2.38 g/t Au from 746.0m

Further exploration drilling will evaluate the continuity of broad mineralized shears that may lead to a deeper open pit, as well as the high-grade mineralization discovered in drill hole MQD-25-326 with the goal of defining a strike extensive higher-grade shoot. Potential underground mining methods and associated economic parameters will be evaluated once sufficient drilling is completed and the continuity of higher-grades confirmed.

Figure 1: Illustrates the drilling plan view with reported drilling holes highlighted in gold

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8051/285988_311967cad4be384f_002full.jpg

Figure 2: Shows the cross section with reported drill holes confirming continuity of the QES Zone 280 meters beneath the pit and expansion of the Superion Zone near surface.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8051/285988_311967cad4be384f_003full.jpg

Technical Overview

The RPEEE pit defined in the recently released PEA was constrained by drill data that focused on the top 500 meters of the deposit. Structural analysis within the deposit revealed a repeating pattern of higher-grade shoots in the QES Zone that are plunging approximately 10 - 15 degrees to the northeast. Within the shallowly plunging higher-grade shoots, intersections between primary and secondary shear zones develop the highest-grade zones along steeply plunging intersection lineations, as intersected by MQD-25-171, which returned 124.35m of 1.65 g/t Au including 47m @ 3.08 g/t Au (release April 22, 2025) and MQD-22-014, which returned 128.3m @ 1.05 g/t Au including 40.6m @ 1.99 g/t Au (release May 3, 2022).

To test the concept of deeper mineralized shoots, Gold X2 drilled two holes, MQD-25-326 and MQD-25-330 which intersected the core shear zone approximately 280m and 60m, respectively, beneath the RPEEE pit shell. MQD-25-326 successfully intersected the next shallow plunging high-grade shoot. Both holes were drilled from the north side of QES so that they could also test for shallow marginal shears in Superion area.

MQD-26-326 was collared north of the Superion Zone and encountered mineralized sericite-silica altered sheared dacite volcanics, intersecting 11.4m of 0.51 g/t Au from 6.6m. The hole intersected a second sheared diorite package returning 23.0m of 1.01 g/t Au from 183.0m before encountering the main diorite complex at 300m. Both mineralized shears are not modelled in the current MRE and represent further opportunities to convert waste blocks into mineralized blocks in future MREs.

The hole intersected the QES Zone approximately 280m below the RPEEE pit shell and intersected the expected geology with mineralization hosted in sheared sericite-silica-hematite altered granodiorites and higher-grades correlating with increased shear intensity. The entire zone returned an intercept of 222m @ 0.88 g/t Au from 759m, including the headline 117.0m of 1.21 g/t Au, which suggests potential to significantly deepen the proposed open pit if further drilling confirms strike and depth continuity of the core shear zone.

Additionally, MQD-25-326 intersected a high-grade corridor returning 19.0m of 3.33 g/t Au from 826.0 meters. The interval contains two higher strain shear zones, which returned 10.0m of 4.37 g/t Au from 826.0m, including 5.0m of 7.24 g/t Au from 826.0m, and 2.0m of 7.15 g/t Au from 843.0m. The shallowly plunging high grade mineralized shoots within the Moss Gold Deposit demonstrate high grade continuity over several hundred meters that have been corroborated by recent grade control patterns and within the larger resource. Together this suggests an opportunity to define a potential higher-grade resource that may possibly be mined by underground methods. Gold X2 will conduct follow up on these initial results to demonstrate both grade and strike continuity at depth. Once the Company has a firmer understanding of the nature of the higher-grade mineralization, a study will commence to evaluate the appropriate underground mining method and economic parameters.

MQD-26-330 was collared north of QES, along the western edge of the Zone, intersecting the core shears at approximately 50 meters below the RPEEE pit shell. It collared into dacite volcanics and encountered diorite package at 300m before transitioning into the broad sheared sericite-silica-hematite altered granodiorite. The hole hit above the targeted and interpreted shallow plunging mineralization shoot into an inter-shoot zone of expected lower grade. Alteration and shear intensity were noticeably less than that seen in MQD-26-326 with intercepts of 30.0m of 0.52 g/t Au from 664.0m, 20.2m of 0.50 g/t Au from 704.8m and 28.95m of 1.18 g/t Au from 730.05m.

Further exploration drilling will continue to evaluate the continuity of broad mineralization and high-grade shears that provide an opportunity for significant resource growth. This will commence with wedged holes designed to step out in 50 - 100 meter increments from the above intercepts to more fully defined the proposed mineralization shoots and better define their geometry.

Figure 3: Hole MQD-25-326: Sheared, sericite-silica-hematite altered granodiorite yielding high grade intercepts of 19.0m of 3.33 g/t Au from 826.0m, including 10.0m of 4.37 g/t Au from 826.0m and 2.0m of 7.15 g/t Au from 843.0m

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8051/285988_311967cad4be384f_004full.jpg

Table 1: Significant intercepts

HOLE IDFROMTOLENGTH

(m)TRUE WIDTH

(m)CUT GRADE

(g/t Au)UNCUT GRADE

(g/t Au)

MQD-25-3266.6018.0011.405.70.510.51

MQD-25-32614.0016.002.001.01.321.32

MQD-25-326101.00103.002.001.10.330.33

MQD-25-326107.00112.005.002.60.660.66

MQD-25-326136.00138.002.001.10.480.48

MQD-25-326167.00169.002.001.10.300.30

MQD-25-326175.00177.002.001.10.680.68

MQD-25-326183.00206.0023.0012.51.011.01

MQD-25-326183.00185.002.001.11.471.47

MQD-25-326193.00204.0011.006.01.471.47

MQD-25-326345.00359.0014.008.01.111.11

MQD-25-326348.00357.009.005.11.491.49

MQD-25-326391.70395.003.301.91.871.87

MQD-25-326393.00395.002.001.12.892.89

MQD-25-326560.00566.006.003.40.410.41

MQD-25-326614.00617.453.452.00.920.92

MQD-25-326627.00629.002.001.21.631.63

MQD-25-326657.00659.002.001.20.620.62

MQD-25-326680.00682.052.051.20.500.50

MQD-25-326691.35694.202.851.60.430.43

MQD-25-326759.00810.0051.0030.20.590.59

MQD-25-326794.00796.002.001.24.304.30

MQD-25-326816.00933.00117.0071.11.211.21

MQD-25-326821.00836.0015.009.03.353.35

MQD-25-326842.00864.0022.0013.31.451.45

MQD-25-326878.00884.006.003.61.481.48

MQD-25-326892.00902.9010.906.72.392.39

MQD-25-326943.00957.4514.459.00.520.52

MQD-25-326955.05957.452.401.51.681.68

MQD-25-326968.00981.0013.008.11.041.04

MQD-25-326969.00973.004.002.52.262.26

MQD-25-326979.00981.002.001.31.391.39

MQD-25-326995.801001.005.203.30.330.33

MQD-25-3261031.001049.0018.0011.50.900.90

MQD-25-3261031.001035.004.002.53.163.16

MQD-25-33014.0016.002.008.10.480.48

MQD-25-330174.00181.007.001.20.600.60

MQD-25-330210.00220.3510.354.80.330.33

MQD-25-330226.00231.005.007.10.340.34

MQD-25-330244.00249.655.653.41.281.28

MQD-25-330261.00268.007.003.91.201.20

MQD-25-330265.00267.002.004.83.383.38

MQD-25-330316.85324.007.151.40.810.81

MQD-25-330320.90324.003.105.01.371.37

MQD-25-330445.55448.002.452.21.061.06

MQD-25-330519.00528.009.001.80.580.58

MQD-25-330519.00522.003.006.51.121.12

MQD-25-330606.00617.0011.002.20.430.43

MQD-25-330631.00638.007.008.10.570.57

MQD-25-330651.30654.002.705.20.480.48

MQD-25-330664.00694.0030.002.00.520.52

MQD-25-330674.00682.008.0022.31.011.01

MQD-25-330704.80725.0020.205.90.500.50

MQD-25-330730.05759.0028.9515.11.181.18

MQD-25-330746.00756.3010.3021.82.382.38

MQD-25-330777.00779.002.007.80.440.44

MQD-25-330785.35787.552.201.50.390.39

MQD-25-330791.45794.002.551.70.980.98

MQD-25-330805.65807.952.301.90.540.54

MQD-25-330825.50828.102.601.80.620.62

MQD-25-330837.00846.009.002.00.800.80

MQD-25-330855.00867.3512.356.90.700.70

MQD-25-330860.05864.003.959.61.091.09

MQD-25-330889.00897.458.453.11.791.79

MQD-25-330894.15896.652.506.65.205.20

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.

Table 2: Drill Collars

HOLEEASTNORTHRLAZIMUTHDIPEOH

MQD-25-326669,6595,379,900430136.1-60.31056.00

MQD-25-330669,4865,379,810430143.0-52.1909.00

Table 3: Individual Assays across MQD-25-326 Mineralized Zone

BHIDFromToLengthSampleAu ppmAg ppmAs ppmCu ppmMo ppm Te ppm

MQD-25-326751.00752.001.00L1923820.00250.0501.314.70.4400.025

MQD-25-326752.00753.001.00L1923840.00250.0301.07.70.5100.025

MQD-25-326753.00754.001.00L1923850.04100.1200.652.00.7100.110

MQD-25-326754.00755.001.00L1923860.06500.1400.635.00.5600.300

MQD-25-326755.00756.001.00L1923870.11900.1800.666.62.0800.730

MQD-25-326756.00757.401.40L1923880.21400.2700.625.11.1700.610

MQD-25-326757.40758.000.60L1923890.08200.3200.432.90.0700.330

MQD-25-326758.00759.001.00L1923900.14000.0700.252.71.2301.330

MQD-25-326759.00760.001.00L1923910.57000.8900.5180.57.4501.430

MQD-25-326760.00761.001.00L1923921.18001.2101.2103.56.3801.390

MQD-25-326761.00762.001.00L1923930.79000.8900.7190.08.5003.240

MQD-25-326762.00763.001.00L1923940.60500.4701.055.41.8400.880

MQD-25-326763.00764.001.00L1923960.52000.3601.345.81.2400.690

MQD-25-326764.00765.001.00L1923970.16700.2301.1165.00.7200.320

MQD-25-326765.00766.001.00L1923980.22600.3301.0138.51.0500.400

MQD-25-326766.00767.001.00L1923990.34600.4900.7132.53.3300.620

MQD-25-326767.00768.001.00L1924000.63100.5800.677.70.7400.970

MQD-25-326768.00769.001.00L1924010.99600.8501.0161.00.5301.330

MQD-25-326769.00770.001.00L1924020.33400.3301.570.30.5400.590

MQD-25-326770.00771.001.00L1924030.79000.7101.178.01.6301.480

MQD-25-326771.00772.001.00L1924040.42700.3901.040.71.5400.800

MQD-25-326772.00773.001.00L1924060.93000.8000.9150.53.3501.290

MQD-25-326773.00774.001.00L1924070.40600.5901.6150.50.5900.650

MQD-25-326774.00775.001.00L1924080.51300.8801.7388.01.1200.780

MQD-25-326775.00776.001.00L1924091.63001.9502.0507.01.1502.560

MQD-25-326776.00777.001.00L1924100.26500.8002.1282.01.0200.520

MQD-25-326777.00778.001.00L1924110.10800.6301.8246.01.3200.400

MQD-25-326778.00779.001.00L1924120.25300.8601.0298.017.4500.670

MQD-25-326779.00780.001.00L1924130.25101.6800.9805.02.0100.480

MQD-25-326780.00781.001.00L1924140.19901.5201.0693.04.6700.440

MQD-25-326781.00782.001.00L1924150.41902.3200.3577.03.5401.190

MQD-25-326782.00783.001.00L1924170.20600.9101.1446.01.9200.420

MQD-25-326783.00784.001.00L1924180.49802.7702.91130.00.7801.120

MQD-25-326784.00785.001.00L1924190.32501.8403.3881.01.8000.750

MQD-25-326785.00786.001.00L1924200.70302.5201.6815.04.6901.800

MQD-25-326786.00787.001.00L1924210.32101.8000.61030.05.8200.500

MQD-25-326787.00788.001.00L1924220.44901.9800.91055.034.1000.530

MQD-25-326788.00789.001.00L1924230.41602.4301.11170.05.6500.770

MQD-25-326789.00790.001.00L1924240.29402.3901.31240.02.0200.360

MQD-25-326790.00791.001.00L1924250.51303.9900.91965.019.0000.650

MQD-25-326791.00792.001.00L1924270.67304.2601.12100.03.7500.770

MQD-25-326792.00793.001.00L1924280.22700.7700.9391.02.1200.290

MQD-25-326793.00794.001.00L1924290.36600.6701.0553.06.1500.530

MQD-25-326794.00795.001.00L1924307.10006.6300.7554.07.28010.150

MQD-25-326795.00796.001.00L1924311.50501.5400.7287.01.2802.460

MQD-25-326796.00797.001.00L1924330.31800.4301.470.226.9000.570

MQD-25-326797.00798.001.00L1924340.14500.2300.638.70.4900.300

MQD-25-326798.00798.750.75L1924350.22000.3701.497.326.5000.340

MQD-25-326798.75799.200.45L1924360.29100.5201.286.50.3500.400

MQD-25-326799.20800.000.80L1924370.12200.1701.717.60.3900.220

MQD-25-326800.00801.001.00L1924380.09500.0901.0133.51.0700.100

MQD-25-326801.00802.001.00L1924390.73800.8001.1100.517.9501.300

MQD-25-326802.00803.001.00L1924400.41200.5300.818.020.0000.970

MQD-25-326803.00804.001.00L1924410.25400.2500.230.8220.0000.570

MQD-25-326804.00805.001.00L1924420.13200.1300.822.12.4600.320

MQD-25-326805.00806.001.00L1924440.18700.1300.523.715.5000.490

MQD-25-326806.00807.001.00L1924450.21500.1600.541.13.0700.550

MQD-25-326807.00808.001.00L1924460.25100.3601.389.34.0500.500

MQD-25-326808.00809.001.00L1924470.41300.4600.6201.03.7700.690

MQD-25-326809.00810.001.00L1924480.43400.6100.1234.06.5100.630

MQD-25-326810.00811.001.00L1924490.19600.2501.389.43.7200.340

MQD-25-326811.00812.001.00L1924500.19100.2301.440.60.5400.310

MQD-25-326812.00813.001.00L1924510.06500.1001.422.70.4800.110

MQD-25-326813.00814.001.00L1924520.09800.2200.992.11.4200.050

MQD-25-326814.00815.001.00L1924540.18900.5200.8119.50.4000.390

MQD-25-326815.00816.001.00L1924550.23700.5501.1198.51.1800.370

MQD-25-326816.00817.001.00L1924560.40801.0801.3570.00.6200.380

MQD-25-326817.00818.001.00L1924570.92402.2500.71180.00.5802.050

MQD-25-326818.00819.001.00L1924580.84701.1600.9372.00.7301.030

MQD-25-326819.00820.001.00L1924590.51600.5901.4114.00.4200.650

MQD-25-326820.00821.001.00L1924600.45000.5201.0181.00.8200.460

MQD-25-326821.00822.001.00L1924611.05500.7701.7126.50.7301.090

MQD-25-326822.00823.001.00L1924620.88400.9301.7164.52.0901.530

MQD-25-326823.00824.001.00L1924641.17500.9301.564.21.6301.400

MQD-25-326824.00825.001.00L1924651.53002.3001.4540.02.7601.930

MQD-25-326825.00826.001.00L1924661.82502.7500.5464.02.1402.550

MQD-25-326826.00827.001.00L1924674.31004.9900.8559.02.4706.290

MQD-25-326827.00828.001.00L19246819.950020.8001.1995.04.25030.400

MQD-25-326828.00829.001.00L1924692.17004.8801.5607.06.2603.220

MQD-25-326829.00830.001.00L1924705.52007.6701.9401.07.4707.740

MQD-25-326830.00831.001.00L1924714.24006.7202.0544.08.5005.060

MQD-25-326831.00832.001.00L1924722.27004.5001.9476.05.3002.950

MQD-25-326832.00833.001.00L1924741.28502.6700.6481.05.5401.660

MQD-25-326833.00834.001.00L1924750.28200.4101.463.16.3100.480

MQD-25-326834.00835.001.00L1924761.49501.5601.523.87.2902.040

MQD-25-326835.00836.001.00L1924772.21002.3900.9207.08.1002.880

MQD-25-326836.00837.001.00L1924780.94804.0903.3581.016.4001.280

MQD-25-326837.00838.001.00L1924790.49603.0702.6922.04.6700.530

MQD-25-326838.00839.001.00L1924800.37002.4400.6933.04.8700.490

MQD-25-326839.00840.001.00L1924810.41202.7202.41120.04.6700.310

MQD-25-326840.00841.001.00L1924830.50501.4402.3353.09.6600.790

MQD-25-326841.00842.001.00L1924840.84301.7801.3366.06.9601.220

MQD-25-326842.00843.001.00L1924851.76503.6300.7691.026.3002.390

MQD-25-326843.00844.001.00L19248610.65009.7601.5240.022.00014.250

MQD-25-326844.00845.001.00L1924873.64004.7503.2339.03.8904.960

MQD-25-326845.00846.001.00L1924881.32002.3602.7145.024.3001.910

MQD-25-326846.00847.001.00L1924890.75402.2101.8429.011.0501.090

MQD-25-326847.00848.001.00L1924900.78301.1201.2181.03.0500.750

MQD-25-326848.00849.001.00L1924910.72901.1002.0116.57.9201.040

MQD-25-326849.00850.001.00L1924920.72901.5001.2279.054.4001.300

MQD-25-326850.00851.001.00L1924931.38001.4201.2117.510.7002.810

MQD-25-326851.00852.001.00L1924940.65100.7500.968.740.4005.600

MQD-25-326852.00853.001.00L1924960.32300.2601.114.80.5300.480

MQD-25-326853.00854.001.00L1924970.46400.3900.846.813.3501.440

MQD-25-326854.00855.001.00L1924981.98000.5300.617.35.5001.290

MQD-25-326855.00856.001.00L1924991.35000.7701.374.25.3801.620

MQD-25-326856.00857.001.00L1925000.80100.6700.150.10.6301.260

MQD-25-326857.00858.001.00L1925010.48300.3101.244.32.8100.870

MQD-25-326858.00859.001.00L1925021.60000.3600.833.31.0401.400

MQD-25-326859.00860.001.00L1925030.09500.2400.479.12.7300.730

MQD-25-326860.00861.001.00L1925040.02600.0300.322.40.5000.025

MQD-25-326861.00862.001.00L1925060.08800.1201.269.80.4900.070

MQD-25-326862.00863.001.00L1925070.32600.2701.376.70.6300.460

MQD-25-326863.00864.001.00L1925082.07001.2301.651.34.1002.950

MQD-25-326864.00865.001.00L1925090.32100.2401.418.80.9500.720

MQD-25-326865.00866.001.00L1925100.08900.1301.515.45.7300.280

MQD-25-326866.00867.001.00L1925110.25900.2401.140.41.0200.400

MQD-25-326867.00868.001.00L1925120.10200.3701.764.414.9500.900

MQD-25-326868.00869.001.00L1925130.10400.1501.318.23.6300.230

MQD-25-326869.00870.001.00L1925140.82600.7001.844.133.1001.430

MQD-25-326870.00871.001.00L1925160.59100.5300.6128.011.0501.200

MQD-25-326871.00872.001.00L1925170.12600.0901.911.82.2700.930

MQD-25-326872.00873.001.00L1925180.21700.1700.457.512.3500.980

MQD-25-326873.00874.001.00L1925190.06300.0800.116.10.6100.260

MQD-25-326874.00875.001.00L1925200.21500.3300.338.018.2000.960

MQD-25-326875.00876.001.00L1925210.04900.0400.623.90.6300.860

MQD-25-326876.00877.001.00L1925220.50100.9100.31020.07.0000.990

MQD-25-326877.00878.001.00L1925240.08500.0901.155.31.1700.160

MQD-25-326878.00879.001.00L1925255.06006.1401.4138.07.2306.710

MQD-25-326879.00880.001.00L1925260.78801.2001.2191.03.0001.420

MQD-25-326880.00881.001.00L1925270.25800.2202.140.00.5800.460

MQD-25-326881.00882.001.00L1925281.42501.4200.687.726.5002.570

MQD-25-326882.00883.001.00L1925290.24000.2000.110.92.6800.470

MQD-25-326883.00884.001.00L1925301.10500.9001.618.80.8802.090

MQD-25-326884.00885.001.00L1925310.50700.4901.131.99.0100.880

MQD-25-326885.00886.001.00L1925320.14600.1301.518.83.1600.350

MQD-25-326886.00887.001.00L1925330.06400.0801.214.80.5700.160

MQD-25-326887.00888.001.00L1925340.69201.2401.1286.01.5004.400

MQD-25-326888.00889.001.00L1925360.12200.0900.59.40.4900.260

MQD-25-326889.00890.001.00L1925370.30200.2101.121.20.4800.480

MQD-25-326890.00891.001.00L1925380.20400.1500.635.81.5800.340

MQD-25-326891.00892.001.00L1925390.65300.5701.381.50.9201.260

MQD-25-326892.00893.001.00L1925401.61001.3401.2139.50.9602.480

MQD-25-326893.00894.001.00L1925412.11001.5600.6134.50.8703.300

MQD-25-326894.00895.001.00L1925424.66003.9301.0299.07.7508.960