Gold X Mining Commences Definition Drilling and Resource Expansion Program at the Toroparu Gold Project

Drill program designed to upgrade and expand Toroparu’s current mineral resource, already one of the largest gold resources in the Americas

Definition drilling to target recently discovered, open-ended, high grade structures within the Toroparu Main and NW Zones

Step-Out and Infill drilling targeting extension of the strike length of the Toroparu mineralized trend to at least 3.8 kilometres

GEORGETOWN, Guyana, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Gold X Mining Corp. (TSX-V: GLDX, OTCQX: GLDXF) (“Gold X” or the “Company”). Paul Matysek, CEO and Robert Friedland, Chairman of Gold X Mining are pleased to announce the commencement of a minimum 12,000 metre of drilling designed to define continuity of grade within recently discovered high grade gold bearing structures as well as upgrade and expand the current mineral resource at the Company’s 100% owned Toroparu Gold Project in Western Guyana.

Following the Company’s recent appointments of Robert Friedland, as Non-Executive Chairman and Paul Matysek, as CEO, Gold X Mining undertook a comprehensive review of the geological models and near-pit resource potential of the Company’s Upper Puruni Concession and Toroparu Gold-Copper deposit.

The Company drew on the experience and expertise of leading geological consultants from SRK Consulting Inc. (SRK), High Power Exploration Inc. (HPX), and HPX’s consultants, the Nordmin Group of Companies (Nordmin) to review the existing data and design a resource expansion and definition drilling program. Mr. Friedland is the Founder, Chairman and CEO of HPX, a private mineral exploration company.  SRK and HPX are working with Gold X under Services Agreements.

The data review by HPX and Nordmin discovered several structurally controlled high-grade gold bearing structures within the Toroparu Main and Toroparu NW Zones as well as several prospective zones for shallow mineralization identified by SRK within the Toroparu NW Zone, a 2 km extension of the Toroparu Main Zone delineated during exploration drilling from 2011 to 2013.

Paul Matysek, stated, “The world-class experts at High Power Exploration have been instrumental in reviewing and reconceptualizing the extensive geological data collected at the Toroparu project. The results of this review have opened the possibility of significant optimization of the mine plan, and we are incorporating these results into our current drilling plans. We are excited to combine our efforts to develop one of the largest gold resources in the Americas.”