An investigation has been conducted to determine the feasibility of generating conditions favorable to population inversion, gain, and x‐ray lasing in a two‐component plasma consisting of sodium and neon. An intense laser beam is assumed incident on both sides of a Na/Ne slab target separated by a carbon thermal buffer. Temperature and density profiles of the laser target interaction are calculated using a Lagrangian hydrodynamics model. Level populations and radiative emissions are evaluated using a collisional‐radiative equilibrium model including opacity effects. It appears possible to achieve measurable gain at 82, 58 and 230 A˚ from the 3‐2, 4‐2, and 4‐3 transitions of heliumlike neon, respectively. Additionally, by pulse tailoring and target design, it should be possible to enhance the Na pumping power. off