Goldshore Announces Filing of Q2 Financial Statements and Provides Second Quarter Corporate Highlights
Goldshore Announces Filing of Q2 Financial Statements and Provides Second
Quarter Corporate Highlights
VANCOUVER, B.C., August 29 , 2025: Goldshore Resources Inc. (TSXV: GSHR / OTCQB:
GSHRF / FWB: 8X00) (“Goldshore” or the “Company”) is pleased to announce that it has filed
its second quarter interim financial statements and the accompanying Management's Discussion
and Analysis ("MD&A”) which are available on SEDAR+ at www.sedarplus.ca.
Second Quarter Corporate Highlights
• On May 8, 2025, the Company signed an Impact Benefit Agreement (“IBA”) term sheet
with the Lac des Mille Lacs First Nation. The IBA term sheet sets out the key terms that
will guide the negotiation of a future IBA between the Company and Lac des Mille
Lacs First Nation.
• On May 9, 2025, the Company completed a 21,329-meter drilling program, with 67 holes
drilled, which focused on testing mineralized shears in the upper and marginal parts of the
deposit that are otherwise difficult to drill without winter conditions . During the second
quarter the results of 29 holes (7,910.70 meters) were received, yielding the following
highlights:
o Six holes were drilled from ice platforms on the shallow Snodgrass Lake in a
program that was terminated early because of unseasonably warm weather.
Results from the final two holes were not received until the third quarter. Four holes
targeted the gap between the Main and Southwest Zones and intersected new
high-grade mineralized shears representing a combined true width mineralized
corridor of 75m connecting the two zones, including:
12.9m of 2.64 g/t Au from 243.4m including 4.4m of 6.59 g/t Au in MMD -
25-165 (April 15, 2025).
o Eleven short holes successfully intersected the near surface extensions of deeper
marginal shears along the northern edge of the QES Zone at QES Up. These
results will allow the modelling of narrow, low - to medium-grade shears in a near
surface zone that is currently modelled as waste. The best intercepts included:
13.55m of 0.59 g/t Au from 88.5m including 2.1m of 1.17 g/t Au in MQD -
25-156 (April 22, 2025); and
25.0m of 1.10 g/t Au from 107.2m including 2.05m of 1.69 g/t Au and 7.65m
of 2.62 g/t Au in MQD-25-160 (May 1, 2025).
o Five drill holes were extended to infill significant drilling gaps in the QES Zone and
intersected wide intervals of gold- mineralized core shears, including the highest -
grade x thickness intersection ever reported on the project. These results
confirmed the presence of shallow -plunging, higher -grade gold mineralization
within the core shears and demonstrate the potential to discover additional
plunging shoots. In addition, the results from MQD -25-171 exceeded the grade
expectations based on the current MRE. The better intercepts included:
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124.35m of 1.65 g/t Au from 295.0m including 7.55m of 1.97 g/t Au and
47.0m of 3.08 g/t Au in MQD-25-171 (April 22, 2025); and
17.7m of 1.52 g/t Au from 333.0m and 6.85m of 3.01 g/t Au from 436.0m in
MQD-25-179 and 18.4m of 1.36 g/t Au from 285.6m in MQD-25-180 (June
11, 2025).
o Sixteen holes were drilled to follow -up potential strike extensions of the high-
shears discovered at Superion in hole MMD-24-148. These holes returned several
results that add to the strike length of the main shear, and discovered additional
parallel shears, including:
9.45m of 6.02 g/t Au from 186.0m including 2.45m of 22.2 g/t Au in MQD -
25-175 and 13.0m of 2.30 g/t Au from 117.0m including 3.0m of 9.00 g/t Au
in MQD-25-176 (May 15, 2025); and
17.7m of 1.52 g/t Au from 333.0m, including 2.3m of 8.24 g/t Au, and 6.85m
of 3.01 g/t Au from 436.0m in MQD-25-179 and 18.4m of 1.36 g/t Au from
285.6m 0m in MQD-25-180 (June 11, 2025).
o For further details regarding these drill results, please see the Company’s news
releases dated April 15, 2025, April 22, 2025, May 1, 2025, and June 11, 2025
available on the Company’s website and profile on SEDAR+ at www.sedarplus.ca.
• Throughout the quarter, the Company’s geologists have worked with G Mining to improve
the 3D modelling of shear zones, host lithology and post-mineralization structures, which
will be incorporated in an update to the M ineral Resource Estimate and part of the
upcoming Preliminary Economic Assessment.
• On June 20, 2025, the Company completed a bought deal private placement for aggregate
gross proceeds of $36,085,000.
NPI Repurchase
Further to the Company's news releases dated May 30, 2025, and August 8, 2025, pursuant to
the purchase agreement dated May 1, 2025, as amended, the Company has agreed to
repurchase 1.5% of a 2.5% net profit interest (“NPI”) in the Moss Gold Project. In consideration
of the repurchase, the Company has agreed to issue the NPI holder 1,000,000 common shares
at a deemed issue price of $0.33 per common share; pay the NPI holder a cash fee of $20,000 a
month for a four -year term starting on May 1, 2025; and after four years, issue the NPI holder
such number of common shares as is equal to $300,000 based on the 20- day VWAP of the
common shares prior to issuance, subject to a maximum amount of 1,176,470 common
shares. By purchasing the NPI interest the Company is positioning the asset for improved
economic performance in the upcoming PEA.
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice- President, Exploration, of the Company, and a
qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects,
has approved the scientific and technical information contained in this news release.
Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill
program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed
and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with
responsible site staff; discussed and reviewed assay and QA/QC results with responsible
personnel; and reviewed supporting documentation, including drill hole location and orientation
and significant assay interval calculations. He has also overseen the Company’s health and safety
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policies in the field to ensure full compliance and consulted with the Project’s host indigenous
communities on the planning and implementation of the drill program, particularly with respect to
its impact on the environment and the Company’s remediation protocols.
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 $75
million of new capital and completed approximately 100,000 meters of drilling on the Moss Gold
Project, which, in aggregate, has had over 255,000 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 development in this cycle. Please see NI 43-101 technical report titled: “Technical Report and
Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada,” dated M arch
20, 2024 with an effective date of January 31, 2024 available under the Company’s SEDAR+
profile at www.sedarplus.ca. 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.
W: www.goldshoreresources.com
T: 1-604-404-4335
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.
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 negotiations of a
future IBA, expectations regarding the exploration and development of the Moss Gold Project; the
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potential mineralization at the Moss Gold Project based on the winter drill program, including the
potential for additional mineral resources; the enhancement of the Moss Gold Project; statements
regarding the Company’s future drill plans , including the expected benefits and results thereof;
future payments in respect of the NPI repurchase; 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:
uncertainty and variation in the estimation of mineral resources; risks related to exploration,
development, and operation activities; exploration and development of the Moss Gold Project will
not be undertaken as anticipated; 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; the economic performance of the deposit may not be consistent
with management’s expectations; the Company’s exploration work may not deliver the results
expected; the fluctuating price of gold; unknown l iabilities in connection with acquisitions ;
compliance with extensive government regulation; delays in obtaining or failure to obtain
governmental permits, or non- compliance with permits; environmental and other regulatory
requirements; domestic and foreign laws and regulations could adversely affect the Company’s
business and results of operations; risks related to natural disasters, terrorist acts, health crises,
and other disruptions and dislocations; global financial conditions; uninsured risks; climate change
risks; competition from other companies and individuals; conflicts of interest; risks related to
compliance with anti- corruption laws; the Company’s limited operating history; intervention by
non-governmental organizations; outside contractor risks; 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 Superion target may not add to the current mineral resource; and other risks
associated with executing the Company’s objectives and strategies as well as those risk factors
discussed in the Company’s continuous disclosure documents filed under the Company’s
SEDAR+ profile at www.sedarplus.ca.
The forward -looking information in this news release is based on management’s reasonable
expectations and assumptions as of the date of this news release. Certain material assumptions
regarding such forward-looking statements were made, including without limitation, assumptions
regarding: the future price of gold; anticipated costs and the Company’s ability to fund its
programs; the Company’s ability to carry on exploration, development and mining activities; prices
for energy inputs, labour, materials, supplies and services; the timing and results of drilling
programs; mineral resource estimates and the assumptions on which they are based; the
discovery of mineral resources and mineral reserves on the Company’s mineral properties; the
timely receipt of required approvals and permits; the costs of operating and exploration
expenditures; the Company’s ability to operate in a safe, efficient, and effective manne r; the
Company’s ability to obtain financing as and when required and on reasonable terms; that the
Company’s activities will be in accordance with the Company’s public statements and stated
goals; that the Company will be able to negotiate a future IBA on acceptable terms, or at all; t hat
the Company will be able to make all payments towards the NPI repurchase; that the Company’s
exploration work will deliver the results expected; and that there will be no material adverse
change or disruptions affecting the Company or its properties.
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
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date. Ther e can be no assurances that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such statements.
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.