GEMXX Corporation announced that it has made progress in its review and verification of the considerable exploration work already completed on the Yukon Gold Project property and the assessments quantifying the proven and potential gold resources. The Company has also begun discussions with the current owner/partner to conduct a pilot plant on the property in 2024. Work completed by the previous owners included trenching, exploration work, geological mapping and prospecting, ground magnetometer and induced polarization surveys, soil sampling and diamond drilling.

Several reports submitted by the owner for due diligence review state that the property hosts 2,210,660 ounces of proven gold resources. In addition, the probable and possible values indicated in the reports suggest the Yukon Gold Project could yield a total of 4 million ounces of gold. The Company has not verified the historic resource classification or volume but remains optimistic that they speak to the property's potential.

In addition to the lucrative gold assets, GEMXX is reviewing the data to determine if other minerals and/or rare earth elements, such as those used in battery manufacturing, are also commercially viable on the property. GEMXX has engaged a professional geological services firm to assess the historical resource documents and data that pertain to the property. The property consists of 145 full Yukon Quartz Claims and is located south of Whitehorse, Yukon Territory in Canada.

The property has been explored since the time of the Klondike Gold Rush. It is a property of merit that could substantially impact the company's balance sheet and future revenue.