Gold X Mining Commences Planned Engineering of Northern Access Road - Seite 2

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/48a75235-77c9-4537 ...

Paul Matysek, CEO commented, “The participation of regional engineering and construction companies will allow us to efficiently design and build out our northern route access infrastructure while early stage construction activities can begin in parallel at Toroparu via our southern access route, 120-person man-camp, airstrip, heavy equipment maintenance and administration facilities. It also provides a direct and rapid link between the Guyana Goldfields/Zijin gold operation and processing facility which will clearly enhance potential collaboration and synergies between our companies.”

The historical link to Tidewater has been via the Southern Access Route over the Itaballi-Puruni-Papishou Landing Road (the “Puruni - Papishou Road”). Gold X subsidiary, ETK Inc., extended a road between Itaballi Landing and Puruni Landing in the early 2000’s to service mining communities from Puruni Landing to Papishou Landing west of Toroparu. To support the local mining community, ETK has continued to operate the barge crossing at Puruni Landing without charging any tolls to the Guyanese small miners’ community. The final section of the Puruni – Papishou Road links Toroparu to the Kurupung River Hydroelectric Project over a 58 km distance.

Existing infrastructure at Toroparu includes administration building, camp with 120-person capacity, heavy equipment maintenance shed/warehouse and night certified gravel airstrip (see Figure 2: Photograph of Toroparu Project Infrastructure).

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1cbb25aa-6556-4437 ...

Convertible Debentures Update
Further to the Company’s announcement on July 16, 2020, the outstanding balance of US$250,000 convertible debentures have been converted into Gold X common shares at C$3.20 per share.

This leaves the Company debt free and the 100% owner of the 7.35 million ounces Measured and Indicated and 3.15 million ounces Inferred gold resources¹ at Toroparu Project and over 538 Km2 of highly prospective and underexplored permits.

On behalf of the Board of Directors of Gold X Mining Corp.

“Paul Matysek”
Director and Chief Executive Officer

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¹ Preliminary Economic Assessment    Report of the Toroparu Gold Project, Upper Puruni River Area, Guyana, Effective Date: June 11,2019 (SRK Consulting (USA) Inc.) filed on www.sedar.com on July 18, 2019 and is available on SEDAR (www.sedar.com).