GOLD X Announces Results of Annual and Special Meeting of Shareholders

VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Gold X Mining Corp. (TSX-V: GLDX, OTCQX: GLDXF) (“Gold X” or the “Company”) is pleased to announce the results of its annual and special meeting of shareholders held today, November 23, 2020. The Company elected seven directors to its board, namely Robert Friedland, Paul Matysek, Bassam Moubarak, Suresh Beharry, Lombardo Paredes-Arenas, Federico Restrepo-Solano, and Brian T. O’Neill.

The shareholders approved all other matters as proposed, including the appointment of Deloitte, LLP, Chartered Accountants as auditors of the Company, the approval of the June 22, 2020 Option Grant to certain consultants, officers and employees of the Company and approval of the amendment to the Company’s stock option plan.

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

“Paul Matysek”
Director and Chief Executive Officer

About Gold X Mining Corp.

Gold X Mining Corp. is a Canadian junior mining company developing the Toroparu Gold Project in Guyana, South America. Gold X has spent more than US$150 million on the Project to date to classify 7.35 million ounces of Measured and Indicated and 3.15 M-oz of Inferred Gold Resources, develop engineering studies for use in a feasibility study, and define a number of exploration targets around Toroparu on its 53,844 hectare (538 km²) 100% owned Upper Puruni Concession. Gold X has 52.7 M issued and outstanding common shares with more than 40% of the shares closely held by Insiders and the company’s executive management team.

The Toroparu Project’s latest Updated Mineral Resource Estimate Statement (UMRE), effective September 28, 2018, discloses a resource containing 7.35 M-oz gold at an average grade of 0.91 g/t and 128.95 M-ton Inferred Resource containing 3.15 M-oz Gold at average grade of 0.76 g/t. The UMRE is based on a total of 202,250m of resource definition drilling in 675 Diamond Drill Holes (DDH) through June 2019, with 195,215 m directed at the Toroparu Main and SE Zone deposits from 2006-2012, and 21,963 m directed at Sona Hill from 2015-2018. In the 2019 PEA, the database defines a 46.5 M-ton Measured Resource containing 1.48 M-oz of gold at an average grade of 0.99 g/t, a 206 M-ton Indicated Resource containing 5.873 M-oz of gold at an average grade of 0.89 g/t for a total 252.57 M-ton M&I (Measured & Indicated) resource containing 7.35 M-oz gold at an average grade of 0.91 g/t and 128.95 M-ton Inferred Resource containing 3.15 M-oz Gold at average grade of 0.76 g/t.