Gold X2

What Gold X2 does

Gold X2 Mining Inc. (TSXV: AUXX / OTCQB: GSHRF / FRA: DF8; previously Goldshore Resources Inc.) is a publicly traded gold exploration and development company headquartered in Vancouver, British Columbia, with a project office at Kashabowie, Ontario. Its sole material asset is the 100%-owned Moss Gold Project, located approximately 110 km west of Thunder Bay in Northwest Ontario, comprising the Moss Deposit and East Coldstream Deposit along a 35+ km mineralized trend. The company has invested over C$150 million of new capital and completed approximately 100,000 meters of drilling on the project (300,000 meters of total project drilling) to advance a January 16, 2026 mineral resource estimate of 2.125 Moz gold Indicated at 1.03 g/t Au and 3.910 Moz gold Inferred at 0.97 g/t Au, plus reportable silver resources.

The business model is pre-revenue and pre-production. Future revenue is intended to come from gold and silver doré production at Moss, with a January 2026 Preliminary Economic Assessment projecting average annual production of approximately 265,000 ounces of gold and 374,000 ounces of silver over a 13.2-year initial mine life, based on conventional open-pit mining at 30,000 tpd with grinding to p80=55 microns, rougher flotation, regrind to p80=15 microns, and carbon-in-leach processing at an average gold recovery of 91.7% and silver recovery of 82.8%. Project economics under the base case (US$2,750/oz Au) show US$2.232 billion after-tax NPV5%, a 22.1% IRR, and a 3.2-year payback against C$2.001 billion initial capex (including C$303M contingency), with US$1,188/oz AISC placing the operation in the second quartile of the global gold cost curve. A separate revenue lever is the proposed July 2026 spin-out of a 1.00% Net Smelter Royalty into a wholly-owned subsidiary (SpinCo).

Go-to-market is investor-relations led rather than commercial: the company targets institutional and retail mining investors through corporate presentations, conferences (PDAC, Swiss Mining Institute), email newsletters, CEO video updates, and listings on the TSX Venture Exchange, OTCQB, and Frankfurt Stock Exchange, with a pending NYSE American listing application. The customer base, once production commences, is expected to be undifferentiated global refiners and commodity markets selling gold and silver doré under a single horizontal segment; the company currently addresses the limited domestic Canadian gold supply gap and investor demand for large-scale, stable-jurisdiction gold development assets.

Name

Gold X2

Legal name

Gold X2 Mining Inc.

Website

https://goldx2.com/

Company type

Public

Operating status

Operating

Headcount range

11–50 employees

Short description

Gold X2 Mining is a pre-revenue Canadian gold developer advancing the 100%-owned Moss Gold Project in Northwest Ontario, targeting ~265,000 oz/year gold and ~374,000 oz/year silver over a 13.2-year mine life, with PEA economics of US$2.232B NPV5% and 22.1% IRR at base case.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Silver Mining (IMAKAEAB)

Keywords

• Gold mining
• Mineral exploration
• Gold development
• Precious metals production
• Mineral resource estimation

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Gold and Silver Production: The company is in development stage with no current production revenue. Future revenue will come from gold and silver doré production at the Moss Gold Project. PEA projects average annual production of approximately 265,000 ounces of gold and 374,000 ounces of silver over 13.2 year mine life.
2. NSR Royalty Spin-Out: Planned spin-out of 1.00% Net Smelter Royalty on future mineral production to create shareholder value through a separate royalty-focused entity.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Gold X2 is a growth-oriented gold exploration and development company focused on the 100%-owned Moss Gold Project located approximately 110km west of Thunder Bay in Northwest Ontario, Canada. The company is developing the Moss Gold Project through exploration drilling, NI 43-101 compliant Mineral Resource Estimates, and a Preliminary Economic Assessment demonstrating potential production of approximately 265,000 ounces of gold and 374,000 ounces of silver per year over a 13.2-year mine life. The project is pre-production and is intended to produce gold and silver doré bars for sale to refiners and global precious metals commodity markets.

Product overview

Gold X2 is a growth-oriented gold exploration and development company focused on the 100% owned Moss Gold Project in Northwest Ontario, Canada. The company's core offering is the development of this advanced-stage gold asset through a phased approach: (1) exploration drilling programs to expand and upgrade mineral resources, (2) NI 43-101 compliant Mineral Resource Estimates, and (3) Preliminary Economic Assessments to demonstrate project economics. The company completed its first PEA in January 2026, demonstrating potential for a top 10 gold producer in Canada with approximately 265,000 oz/year production over 13.2 years. The project benefits from exceptional infrastructure including Trans-Canada Highway access, low-cost hydroelectric power, and deep-water port access at Thunder Bay.

Differentiator

Problem solved

Functional benefit

Products and services

• Moss Gold Project A 100%-owned advanced-stage gold project located approximately 110km west of Thunder Bay in Northwest Ontario, Canada, including the Moss Deposit and East Coldstream Deposit. The project's PEA outlines a 30,000 tpd open-pit operation producing approximately 265,000 oz/year of gold and 374,000 oz/year of silver over a 13.2-year mine life, with planned sales of gold and silver doré bars to refiners and global precious metals commodity markets.
• Gold and Silver Doré Production (Planned) Planned production of gold and silver doré bars from the Moss Gold Project using conventional open-pit mining with mill processing (flotation, regrind, carbon-in-leach), with average gold recovery of 91.7% and silver recovery of 82.8%. Intended for sale to refiners and global precious metals commodity markets.

Quantifiable outcome

• 73% increase in Indicated gold ounces following 2025 drilling program
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core, minor, supporting and infrastructure partner.

• G Mining ServicescoreStrategic or Co-development Partner · 26 January 2026G Mining Services retained to complete the Preliminary Economic Assessment and prepare NI 43-101 compliant technical report for the Moss Gold Project. GMS was responsible for overall report coordination, property description, mineral processing, metallurgical testing, mineral resource estimation, mining methods, recovery methods, infrastructure, operating costs, capital costs, economic analysis, and project execution plan.
• Sky Gold CorpminorStrategic or Co-development Partner · 12 January 2026Gold X2 signed a definitive agreement to acquire Sky Gold's option for a greenfields target at Star Lake, expanding the company's exploration footprint along the 35km mineralized trend.
• CSL Environmental & GeotechnicalsupportingImplementation/ SI/ Consulting PartnerEnvironmental consultant conducting existing conditions environmental studies since mid-2021 to support future environmental assessment and permitting processes.
• One-Eighty Consulting GroupsupportingImplementation/ SI/ Consulting PartnerConsulting group supporting early engagement with potentially affected Indigenous Nations and communities for the Moss Gold Project.
• Hydro Oneinfrastructure partnerStrategic or Co-development PartnerProvincial utility providing power infrastructure. Currently installing Waasigan power line that will add 350 megawatts capacity to the power corridor. Expected power costs at 11 cents/kilowatt hour based on discussions with Hydro One.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Rupert Resources: Canadian gold developer advancing a large-scale asset in a tier-one jurisdiction (Finland/Ontario), comparable in stage and approach to Gold X2's Moss project. Director Joanna Pearson currently sits on Rupert Resources' board.
• Skeena Resources Limited: Canadian gold developer advancing a large British Columbia gold project from PEA/PFS toward production, comparable in stage, jurisdiction profile, and capital intensity to Gold X2's Moss project.
• New Found Gold Corp: Canadian gold exploration and development company at a similar stage of advancement, with a large resource in a tier-one jurisdiction. Gold X2's CFO Michael Kanevsky was previously New Found Gold's CFO, creating direct operational and governance overlap.

Broad incumbents

• IAMGOLD Corporation: Established mid-tier Canadian gold producer with both producing mines and development-stage projects, providing a comparable pathway for Moss to scale from PEA-stage to commercial production.
• Argonaut Gold Inc. Canadian gold producer with both producing and development-stage assets in North America, comparable in geographic focus and project-development philosophy to Gold X2's Moss project.
• Endeavour Mining plc: Major mid-tier global gold producer with a portfolio of West African and other operations; Director Joanna Pearson was previously EVP and CFO, providing deep familiarity with that company's development pipeline economics.
• Equinox Gold Corp: Canadian-headquartered mid-tier gold producer with development-stage and producing assets across the Americas, offering a comparable blueprint for progressing from PEA to commercial gold production.
• Alamos Gold Inc. Established Canadian gold producer that has grown from development to mid-tier status, including the Young Davidson underground mine; Chairman Tom Obradovich previously spearheaded the Young Davidson reverse takeover.

Emerging players

• MAG Silver Corp. Silver-focused developer with a large Mexican asset; comparable to Gold X2's silver by-product credit exposure from Moss and provides a relevant benchmark for valuing silver streams from gold-silver projects.
• Dolly Varden Silver Corp: Canadian silver-focused exploration and development company; Director Shawn Khunkhun is CEO and Director of Dolly Varden, which serves as a comparable for the silver resource component of the Moss Gold Project.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/goldx2mining
• YouTubeyoutube.com/@goldx2mining
• Facebookfacebook.com/GoldX2Mining
• LinkedInlinkedin.com/company/goldx2

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gold X2