Goldshore Expands Winter Drill Program to 20,000 Meters
Goldshore Expands Winter Drill Program to 20,000 Meters
VANCOUVER, B.C., April 9, 2025: Goldshore Resources Inc. (TSXV: GSHR / OTCQB: GSHRF
/ FWB: 8X00) (“Goldshore” or the “Company”), is pleased to announce a 5,000-meter expansion
of its winter diamond drilling program at its 100% owned Moss Gold Project (“Moss” or the
”Project”) located in Ontario, Canada.
Due to the successful results and cost-effective execution of the ongoing drilling program, which
is nearing completion well under budget, Goldshore is adding an additional 5,000 meters of drilling
bringing the total winter diamond drilling program to 20,000 meters. The additional meters will be
focused on the following:
1. Expanding the resource at the southwest portion of the deposit by drilling underneath the
current conceptual open pit, following up on drill hole MMD-24-139 which intersected 20.55m of
2.58 g/t Au from 458.15m, including 14.7m of 3.52 g/t Au, and
2. Closing the gap between the Southwest and Moss Main pits (Figure 1). The Company believes
this program has the potential to add significantly to the current Mineral Resource Estimate with
a minimal amount of additional drilling and positively impact the economic performance of the
project.
Michael Henrichsen, CEO of Goldshore commented, "We're very pleased to expand our existing
program, fueled in part by efficiencies from our ongoing work, as this will allow us to focus on
drilling in the Southwest deposit with the objective to deepen the Southwest open-pit resource to
the same depths of the Main-QES pit."
Figure 1: Illustrates the focus of expanding the resource beneath the S outhwest pit to the equivalent depth of the
Main-QES pit.
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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,
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
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 $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 vis it 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
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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 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 potentia l 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 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.
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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 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.