Gold X2 Mining signs property purchase agreement with Bold Ventures and completes Coldstream claims acquisition
Gold X2 Mining Inc. [NYSE American: AUXX; TSXV: AUXX; FSE: DF80] reported that it has entered into a definitive property purchase agreement with Bold Ventures Inc. [TSXV: BOL; OTCQB: BVLDF] with respect to the previously announced acquisition by the company of certain mineral claims from Bold Ventures in exchange for C$500,000 in cash, share consideration of 150,000 common shares of the company and a 2.00% NSR royalty on all Canadian Critical Minerals derived from such mineral claims. Closing of the Bold acquisition remains subject to customary conditions precedent including TSXV approval.
Furthermore, the company successfully completed its previously announced acquisition of all of the rights, title and interests in and to the mineral exploration property known as the Coldstream claims located in Ontario.
Gold X2 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 in Ontario with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The 2026 updated 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.
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