VANCOUVER, July 5, 2022 /CNW/ - Golden Shield Resources Corp. (CSE: GSRI) (Frankfurt: 4LE0) (“Golden Shield” or the “Company”) is pleased to announce that it has closed the brokered private placement originally announced on June 9, 2022 (the “Offering”). Pursuant to the Offering, the Company issued a total of 14,624,302 units (the “Units”) of the Company at a price of C$0.43 per Unit for gross proceeds to the Company of approximately $6,288,450 which includes the partial exercise of the Agent’s over-allotment option. Each Unit consists of one common share in the capital of the Company and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one common at a price of C$0.60 for a period of 24 months following the closing date. “The completion of this financing will allow Golden Shield to continue extending mineralization at the Mazoa Hill prospect as well as drill test additional exciting prospects at the Marudi Mountain project,” stated Leo Hathaway, Executive Chair of the Company.