Goldshore Awards Contracts for Resource Expansion & Discovery Focused Winter Exploration Programs
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Goldshore Awards Contracts for Resource Expansion & Discovery
Focused Winter Exploration Programs
• Diamond drilling program focused on expanding the m ineral resource estimate within the
conceptual open pit. Program will focus o n the top 200 meters from surface by increasing
drill density with the goal of extending known mineralization toward the surface to reduce the
overall strip ratio and add to the ounce profile of the Moss Gold Project.
• Discovery focused geophysical and geochemical program aims to define drill targets along
23 kms of prospective structural corridors that have not been systematically explored.
VANCOUVER, B.C., November 25, 2024: Goldshore Resources Inc. (TSXV: GSHR / OTC
Markets: GSHRF / FSE: 8X00) (“Goldshore” or the “Company”) is pleased to announce it has
awarded its resource expansion diamond drill program and its top of bedrock sonic drilling
program to Laframboise Drilling Inc. and Forages Technic-Eau Inc., respectively. In parallel, the
Company announces it has awarded the geophysical program to Abitibi Geophysics.
Michael Henrichsen, CEO of Goldshore commented, “We are very pleased to have awarded the
contracts for our winter resource expansion and discovery-based exploration programs. The
resource expansion targets we have identified have the potential to deliver ounces within the top
200 meters from surface, within the conceptual open pit, and could improve the economic
performance of the deposit, building on the forthcoming Preliminar y Economic Assessment
(“PEA”) scheduled for release in Q1 2025. In addition, the first systematic discovery -based
geophysical and top of bedrock sonic drill programs will give the Company the opportunity to
develop robust drill targets that we feel will ultimately lead to a discovery and the uncovering of
additional ounces at the project.”
Resource Expansion Drilling
The in-pit diamond drill program consists of approximately 15,000 meters of drilling focused on
the top 200 meters from surface (Figure 1) with the goal of expanding the current mineral resource
estimate (“MRE”) and reducing the strip ratio of the deposit through the following three avenues.
• Strategic infill to increase drill density in locations where mineralized drill intercepts are
currently too widely spaced to be included in the inferred mineral resource category;
• Extending known mineralized shear zones laterally along strike; and
• Extending mineralized shear zones intersected at depth at the Moss Gold Project t o wards
surface where no shallow drilling has occurred.
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Figure 1: Illustrates the upcoming 15,000 meter drill program within the conceptual open pit associated with the current
MRE. This drill program is targeting resource expansion within the top 200 m from surface.
Discovery Focused Exploration Program
The discovery focused exploration program is designed to define robust drill targets along 23
kilometers of prospective structural corridors in the area of the Moss Gold Project. This focus area
has not seen systematic exploration due to extensive till and muskeg that cover the prospect
structural corridors.
The sonic drill program will sample the top of bedrock over the prospective structural corridors on
50 to 100 meter centers along 400 and 800 meter spaced lines to define areas of gold
mineralization (Figure 2). The program will consist of up to 200 drill holes along the Moss Gold
Project extensions and 12 kilometer long Kawa trend.
The geophysical program will consist of a 40 line-kilometer pole-dipole survey over the Moss Gold
Project and a 235 line- kilometer gradient array survey with select IP pole- dipole lines planned
across the 23 kilometers of prospective structural corridors (Figure 3). These surveys will allow
the Company to obtain the resistivity and chargeability signature of the Moss Gold Project which
has never been the subject to modern ground based geophysical surveys, and to look for simila r
geophysical responses in the 23 kilometers of prospective structural corridors.
500 m
Goldshore Property
Modelled Shears
Proposed Drilling
| EXP ANSION POTENTIAL
SUPERION
Upward extension
of shears at depth
QES EXTENSION
Untested shears
adjacent pit
SOUTHWEST INFILL
Improve drill
density and
grow Resource
QES UP
Untested
shears in pit
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focused on increasing ounces
& reducing strip ratioby increasing
drill density and extending known
mineralization
Expansion
Targets
A conceptual drill program
15,000m drill programfocused
on top 200m from the surface
Potential economic impactfor
future Resource updates following
the ongoing PEA studies
Lateral extensions and infill
drilling in the Superion and
QES Up areas, as well as deeper
sections where no shallow drilling
has occurred
SOUTHERN MAIN
Untested
shears in pit
B
B’
QES
Section
Moss Main
Section
A
A’
3
Figure 2: Focus area for top of bedrock sonic drill program along the prospective mineralized structural corridors. Drill
holes will be spaced 50 to 100 meters apart on 400 or 800 meters spaced lines.
Figure 3: Focus area for ground based induced polarization geophysics surveys across the Moss Gold Project and
prospective mineralized structural corridors .
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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
(“NI 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 l argest 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 n ear
site, supportive local communities and skilled workforce. The Company has invested over $6 0
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 MRE, dated March 20, 2024 and prepared by Apex Geoscience Ltd., 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 the Company’s SEDAR+ profile at (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
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 forwa rd
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, potentia l
mineral resource expansion drill targets, timing and completion of a mineral resource expansion
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drill program, the impact of an expansion drill program on reducing the strip ratio, the targeted
increase in the ounce profile of the Moss Gold Project, and the release of an updated PEA 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 foregoing exploration and development goa ls
of the Company may not occur on the timetable anticipated or at all; the P EA may not be
completed on the timetable expected or at all; the C ompany 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; risks related to compliance with extensive
government regulation; domestic and foreign laws and regulations could adversely affect the
Company’s business and results of operations; and 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 forward- looking information in this news release is based on management’s reasonable
expectations and assumptions as of the date of this news release, including that the Company’s
business and financial position and general economic conditions will not be adversely af f ected;
that the expansion drill program will be completed and on the timetable expected; and that the
PEA will be completed on the timetable anticipated.
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 upda te
these forward-looking statements in the event that management’s beliefs, estimates or opinions,
or other factors, should change.