Gold X Mining Corp. announced additional insight on the company’s updated Toroparu geologic model following the February 23, 2021 announcement of drill results from its phase 1 10,166-meter (m) diamond drill program. The geologic model is part of an ongoing project optimization that includes the discovery of continuous high-grade gold bearing structures extending for at least 3 kilometers in strike and at least 450 meters in depth at its 100% owned Toroparu Gold Project in Western Guyana. High-grade structural jewelry boxes: High-grade gold mineralization at the intersection of NW/SE and EW oriented structures regularly exhibits the highest-grade gold mineralization (approximately 5 g/t - > 20 g/t). These high-grade pipe structures (Jewelry Boxes) have demonstrated up to 100m of vertical continuity and are identified in core by extensive quartz carbonate veining, brecciation, native gold, and copper sulfides. Implications: The initial review and corresponding updated HPX/Nordmin Geologic Model have the following implications: the NW/SE & EW high-grade mineralized structures are separate mineralized domains that can be modeled independently from the lower-grade mineralized domains that surround the structures; the higher-grade mineralized domains have a distinct and repeatable pattern both within the existing open pit resource shell and extending to and beyond the NW zone; the combination of the higher and lower grade domains will be added to update the open pit resource estimate; the combination of higher and lower-grade mineralized domains provides various resource development options including open pit and underground mining methods. Next steps: the company is midway through its 10,000-meter phase 2 drill program targeting sub-vertical high-grade structures along the 3 km Toroparu trend. Following the completion of this drill program in mid-April, the company expects to complete: an updated Mineral Resource Estimate combining the higher-grade and lower-grade mineralized domains within an optimized open pit shell; a maiden Mineral Resource Estimate for the higher-grade mineralized domains that may be amenable to underground mining methods; mine engineering studies analyzing open pit, underground and hybrid open pit/underground production alternatives; and a 43-101 Compliant Technical Report (PEA or Pre-feasibility) supporting the selected mine alternatives.