Gold X2 Mining Announces Agreement to Assume Option for Greenfields Target at Star Lake

Core Viewpoint - Gold X2 Mining Inc. has signed a definitive agreement to acquire Sky Gold Corp.'s interest in the Star Lake claims, which will enhance its land package in the Shebandowan Greenstone Belt to 40,456 hectares, positioning the company for potential major discoveries in the region [1][4][6]. Acquisition Details - The Star Lake Property covers 10,540 hectares and is located approximately 23 kilometers east of Gold X2's Moss Gold Project [1][4]. - The acquisition will be executed in stages, allowing Gold X2 to earn 50%, 75%, and ultimately 100% of the Option Interest in the Star Lake Property [8][9][10][11]. Exploration Potential - The Star Lake Property hosts one of only four significant gold-in-till anomalies in the Shebandowan Greenstone Belt, indicating strong exploration potential [5][6]. - Historical sampling has shown high gold values, with concentrations reaching up to 5,250 ppb, suggesting a local bedrock source for the gold [7]. Financial Terms - To acquire 50% of the Option Interest, Gold X2 must provide $395,200 in assessment credits, issue shares valued at $75,000 to Sky Gold, and pay $200,000 to the Local Prospector by March 14, 2026 [9]. - The subsequent stages require additional exploration spending and share issuances, with no time limits for the 75% and 100% acquisitions [10][11]. Company Update - Michael Kanevsky has been appointed as Corporate Secretary, succeeding Juciane Gomes, who is stepping down [16]. Company Background - Gold X2 is focused on acquiring and advancing primary gold assets in tier-one jurisdictions, with a current emphasis on the Moss Gold Project, which has a mineral resource estimate of 1.54 million ounces of Indicated gold resources [18].