Golden Shield Announces Stock Option Grant
GOLDEN SHIELD ANNOUNCES STOCK OPTION GRANT
Vancouver, British Columbia, January 27, 2023 – Golden Shield Resources Inc. (CSE:
GSRI / FRA: 4LE0 / OTCQB: GSRFF) (the “Company” or “Golden Shield”) announces that it
has granted a total of 779,000 incentive stock options (the “ Options”) to employees, officers,
directors and consultants of the Company. The Options are exercisable at a price of $0.265, have
a term of five years, and will vest over a period of 36 months. The Options were granted pursuant
to the Company’s incentive stock option plan and are subject to regulatory approval.
About Golden Shield
Golden Shield Resources was founded by experienced professionals who are convinced that
there are many more gold mines yet to be found in Guyana. The Company is well-financed and
has three wholly controlled gold projects: Marudi Mountain, Arakaka and Fish Creek. Golden
Shield continues to evaluate other gold opportunities in Guyana.
For further information please contact:
Hilbert N Shields
President and CEO
Email: [email protected]
Telephone: +1 778-654-9665
This news release includes certain “Forward ‐Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and “forward ‐looking information” under applicable Canadian securities laws.
When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”,
“would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information.
Forward‐looking statements and forward ‐looking information relating to any future mineral production, liquidity,
enhanced value and capital markets profile of Golden Shield, future growth potential for Golden Shield and its business,
and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses
and opinions, which are based on management’s experience and perception of trends, current conditions and expected
developments, and other factors that management believes are relevant and reasonable in the circumstances, but
which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and
other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the
estimated costs of development of exploration projects; Golden Shield’s ability to operate in a safe and effective manner
and its ability to obtain financing on reasonable terms.
These statements reflect Golden Shield’s respective current views with respect to future events and are necessarily
based upon a number of other assumptions and estimates that, while considered reasonable by management, are
inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially
different from the results, performance or achievements that are or may be expressed or implied by such forward ‐
looking statements or forward-looking information and Golden Shield has made assumptions and estimates based on
or related to many of these factors. Such factors include, without limitation: the Company’s dependence on one mineral
project; precious metals price volatility; risks associated with the conduct of the Company’s mineral exploration activities
in Guyana; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and
outside contractors; risks regarding mineral resources and reserves; the Company’s inability to obtain insurance to
cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate
sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns
inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital
and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws
and regulations governing the environment, health and safety; the ability of the communities in which the Company
operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-
19 to the Company; operating or technical difficulties in connection with mining or development activities; employee
relations, labour unrest or unavailability; the Company’s interactions with surrounding communities and artisanal
miners; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and
development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of
interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; the
ongoing military conflict in Ukraine; and the factors identified in the Company’s public disclosure documents available
on www.sedar.com. Readers are cautioned against attributing undue certainty to forward ‐looking statements or
forward-looking information. Although the Company has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not to be anticipated, estimated, or intended.
The Company does not intend, and does not assume any obligation, to update these forward ‐looking statements or
forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting
such statements or information, other than as required by applicable law.