Vancouver, British Columbia--(Newsfile Corp. - March 21, 2024) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) ("Goldshore" or the "Company"), further to its press release of February 6, 2024, confirms that it has filed pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects a technical report titled "Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada" (the "Technical Report") in connection with the 100%-owned Moss Gold Project in Northwest Ontario, Canada (the "Moss Gold Project"). The Technical Report was prepared by Michael B. Dufresne M.Sc., P.Geol., P.Geo., and Warren E. Black, M.Sc., P.Geo., of APEX Geoscience.
The 2024 Mineral Resource Estimate ("MRE") is illustrated graphically in Figure 1.0 below.
The Technical Report has an effective date of January 31, 2024. The Technical Report is available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.goldshoreresources.com.
Interim CEO and Director, Brett Richards comments: "The NI 43-101 Technical Report filed today represents the next step in the Company's development, understanding and validation of the quality and quantity of the Moss Gold Project Mineral Resource. It in uncommon to see such a high-quality project in a tier one jurisdiction, with modern infrastructure to support a large mining operation. The focus going forward for the Company will be on de-risking both the technical aspects of the project, and the market perception of the project, in an effort to realize a valuation closer to historical trading norms of gold resources of this caliber. Today, we are conducting initial metallurgical test work for heap leach viability, which is on-going, and we are hopeful to have early stage results out early in Q3 2024. In addition to this work, the team continues to work on ancillary scoping studies to support a pre-feasibility study in the areas of: hydrology and river diversion; stage 2 archaeology studies; and stage 2 fisheries studies, as well as ongoing environmental baseline work. We will consider further metallurgical test work for heap leach viability based on results of on-going test work.
"We also plan to conduct a small drill program at Vanguard this summer, as part of earn-in obligations to Thunder Gold, and look forward to the results forthcoming in the year. (Area is illustrated in the highlighted circle in Figure 1.0)."
Figure 1.0
To view an enhanced version of Figure 1.0, please visit:
https://images.newsfilecorp.com/files/8051/202623_figure1.0.jpg
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this news release.
About Goldshore
Goldshore is an emerging junior gold development company, and owns the Moss Gold Project located in Ontario, Canada. The Company is led and supported by an industry-leading management group, board of directors and advisory personnel. Goldshore is well-positioned and well financed to advance the Moss Gold Project through the next stages of exploration and development.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For More Information - Please Contact:
Brett A. Richards
Interim Chief Executive Officer and Director
Goldshore Resources Inc.
P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com
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Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, future changes to the Company's management structure, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; the impact of COVID-19; the ongoing military conflict in Ukraine; and other risk factors outlined in the Company's public disclosure documents.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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