Goldshore Expands Environmental Data Collection to Support Permitting Process
Goldshore Expands Environmental Data Collection to Support Permitting Process
VANCOUVER, B.C., April 02, 2025: Goldshore Resources Inc. (TSXV: GSHR / OTCQB:
GSHRF / FWB: 8X00) (“Goldshore” or the “Company”), is pleased to provide an update on its
ongoing environmental data collection at its 100%-owned Moss Gold Project located in Ontario,
Canada (the “ Moss Gold Project ”). In preparation for permitting activities, Goldshore has
significantly increased the collection of vital environmental data through several ongoing work
programs, including the following:
Expanded the surface water flow and water quality sampling network in key streams
and lakes across the project area that commenced in mid-2021 to ensure a
comprehensive understanding of the pre-mining state of the natural watercourse system.
Stream measurements will continue on an ongoing basis, building on almost four years of
continuous data, to ensure a complete and comprehensive baseline through exploration,
environmental assessment, construction, mining and mine closure.
Commenced drilling of water bores in the proposed open pit area, along with packer
testing, and nested water well pairs in proposed infrastructure sites to provide a
comprehensive dataset used to generate a numerical water model of the groundwater
system. These data will inform the needs for water management that will be reviewed
during a future Feasibility Study. This program will be completed in 2026.
Completed a seismic geophysics survey over the proposed open pit area that,
together with exploration drilling logs, will enable the creation of an accurate 3D model of
the glacial till overburden covering the Moss Gold Deposit. The model will be delivered in
Q2 2025. Further seismic surveys will be conducted over the proposed tailings
management facility site.
Expanded aquatic and terrestrial biology studies, including fisheries, wetlands,
small mammals and waterfowl. This is part of a two-year program that will be completed
by the end of 2026 and reported on in early 2027. It will inform discussion with potentially
affected Indigenous communities on, among other items, fisheries and wetlands offset
agreements.
Commenced environmental geochemical characterization of waste and mineralized
rock types through static and kinetic test work. Initial work will continue for the next
three to four quarters with the goal of understanding whether the different rock types have
the capacity to generate acid and, if so, what mitigation measures could be applied during
potential future mining operations. The Company notes that approximately 50,000 tonnes
of historical mineralized rock that was left on site by explorers in the 1980s has not
generated any environmental concerns, even after forty years.
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Commencing Stage 2 archaeological field studies along with members of
potentially affected Indigenous communities in Q2 and Q3 2025. The Company notes
that the Stage 1 desktop study, completed in 2021, did not identify any known sites.
Michael Henrichsen, CEO of Goldshore commented, “The Company is encouraged by the
growing political and public recognition of the need for regulatory efficiencies to support
responsible resource development. Recent provincial and federal discourse has emphasized the
importance of streamlining approval processes for major projects in order to reduce duplication,
address prevailing inefficiencies, and respond to broader economic challenges. In this context,
the Company’s ongoing environmental and geotechnical data collection will help ensure it is well-
positioned to advance the Moss Gold Project responsibly and efficiently within the evolving
political and regulatory landscape. Regardless of any forthcoming regulatory changes, Goldshore
will continue to prioritize its relationships with potentially affected Indigenous communities to
ensure that the project is being developed in a robust and responsible manner.”
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 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 March
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
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.
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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; the 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; that the Superion
target has the potential to significantly add to the current mineral resource estimate within the top
200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit;
the potential for resource growth at Moss and the fact that the results have the potential to
significantly impact the economic performance of the deposit moving forward; the potential for a
much larger mineralized system and that it will be pursued in the near future through
additional drilling; 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 liabilities 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
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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 manner; 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 Superion target will add to the current mineral resource; 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
date. There 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.