Goldshore Engages Key Consultants to Advance the Moss Gold Project

On behalf of Goldshore Resources Inc

VANCOUVER, B.C., July 10, 2024: Goldshore Resources Inc. (TSXV:GSHR / OTC Markets: OTCQB:GSHRF / FSE:8X00) (“Goldshore” or the “Company”) is pleased to announce that it has engaged G-Mining Services Inc. (“G Mining”) to deliver a Preliminary Economic Assessment (“PEA”) for the Moss Gold Project (“Moss Gold Project” or the “Project”). The goal is to develop an optimized and staged mine plan, and infrastructure layout, and to advance the Project toward a Project Description that will provide clarity on the scope of permitting work required. Separately, the Company has retained the services of One-eighty Consulting Group Ltd (“one-eighty”) to develop a comprehensive regulatory strategy aimed at facilitating a streamlined path to construction and commercial production.

Michael Henrichsen, CEO of Goldshore commented, “We are pleased to continue to execute on our strategic plan through the appointment of both G Mining and one-eighty to meaningfully advance the Moss Gold Project. We believe the PEA will demonstrate the deep value proposition of the Project and, with the development of a strategic permitting plan, the Company will have a clear path forward as we advance the Project through prefeasibility and feasibility studies.”

Engagement of G-Mining Services to Conduct PEA:

The appointment of G Mining Services to deliver a PEA is an important milestone for the Project as it will provide the first assessment of the project economics, including cash flows, NPV, IRR, and payback period. G Mining, founded in 2006 by Louis Gignac, the 2016 Mining Hall of Fame inductee, under the management of Mathieu Gignac since 2016, is recognized as an industry leader providing mining consultancy services around the world with a reputation of delivering accurate, high-quality assessments. G Mining completed the 2021 feasibility study on Equinox’s Greenstone Gold mine located 275 km northeast of Thunder Bay. This puts the firm in an excellent position to evaluate the Moss Gold Project, which the Company considers to have many similarities to the Greenstone Gold Mine.

The goals of the PEA are to outline a phased production approach prioritizing IRR and minimizing initial Capex with the study expected to be completed by the end of Q1 2025. The Company plans to take a rigorous approach to the PEA utilizing well-defined cost estimates to ensure the projected Capex aligns closely to prefeasibility study standards to enhance the study’s accuracy. In addition, the PEA will define a work program that will allow the Company to advance towards a subsequent prefeasibility study as soon as possible.

Engagement of one-eighty to provide strategic regulatory and engagement advice:

The appointment of one-eighty demonstrates the Company’s commitment to navigating complex regulatory landscapes while integrating socio-political, technical, and environmental considerations. Over the next three months, one-eighty will diagnose the critical factors that will enable an efficient and predictable permitting process, and will use this information to develop a strategic plan. The strategic plan includes a roadmap to minimize regulatory risks and build community support to ultimately position the project to efficiently navigate the environmental assessment process. In developing the strategic plan, one-eighty will work closely with CSL Environmental & Geotechnical Ltd (“CSL”) and the Company’s established community relations team, and by doing so will leverage the strong foundation the Company has cultivated over the last three years. The Company is pleased to be working with one-eighty as we strengthen our external team.

Communications Program Update

The Company has engaged Native Ads, Inc. (“Native Ads“) to perform strategic digital media services, marketing and data analytics services including content development, web development, media buying and distribution and campaign reporting and optimization, for a total retainer of US$150,000 which is payable upfront from the general working capital of the Company. Native Ads has been engaged for a twenty-four (24) month term, or until the retainer is depleted.

The Company and Native Ads act at arm’s length and Native Ads has no present interest, directly or indirectly, in the Company or its securities. The Company does not propose to issue any securities to Native Ads in consideration for the services to be provided to the Company. The appointment of Native Ads is subject to approval by the TSX Venture Exchange.

About Native Ads Inc.

Native Ads is a full-service ad agency in business since 2014 that owns and operates a proprietary ad exchange with over 80 integrated SSPs (supply-side platforms) resulting in daily access to three to seven billion North American ad impressions. It is the only digital agency serving public companies that owns both its own ad network, as well as a financial publisher network. Native Ads has offices in Vancouver and New York and is led by its CEO Jon Malach who is its authorized representative for its investor relations services and will oversee services provided to the Company. For more than eight years, Jon has been facilitating the strategic pairing by Native Ads of premium publishers with premium advertisers, by providing elegant native ad units.

Qualified Person

Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101, has approved the scientific and technical information contained in this news release.

About Goldshore

Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate (“MRE”) has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for fast track through this development cycle. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company’s website (www.goldshoreresources.com).

For More Information – Please Contact:

Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.
E: [email protected]
W: www.goldshoreresources.com

View here for a free report on Goldshore Resources Inc (TSXV:GSHR) (OTCQB:GSHRF)

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Goldshore Resources Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Goldshore Resources Inc.’s industry; (b) market opportunity; (c) Goldshore Resources Inc.’s business plans and strategies; (d) services that Goldshore Resources Inc. intends to offer; (e) Goldshore Resources Inc.’s milestone projections and targets; (f) Goldshore Resources Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Goldshore Resources Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Goldshore Resources Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Goldshore Resources Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Goldshore Resources Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Goldshore Resources Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Goldshore Resources Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Goldshore Resources Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Goldshore Resources Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Goldshore Resources Inc.’s business operations (e) Goldshore Resources Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Goldshore Resources Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Goldshore Resources Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Goldshore Resources Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Goldshore Resources Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Goldshore Resources Inc. or such entities and are not necessarily indicative of future performance of Goldshore Resources Inc. or such entities.

8) The technical information contained in articles and videos produced for this campaign has been reviewed and approved by Mr. Peter Flindell at Goldshore Resources Inc. as the Qualified Persons for the Company as defined in National Instrument 43-101.

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Goldshore Engages Key Consultants to Advance the Moss Gold Project

Engagement of G-Mining Services to Conduct PEA:

Engagement of one-eighty to provide strategic regulatory and engagement advice:

Communications Program Update

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About Goldshore

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Engagement of G-Mining Services to Conduct PEA:

Engagement of one-eighty to provide strategic regulatory and engagement advice:

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About Goldshore

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