Golden Shield Announces U.s. Listing ON OTCQB Under the Symbol “Gsrff”

GOLDEN SHIELD ANNOUNCES U.S. LISTING ON OTCQB UNDER THE SYMBOL “GSRFF”

Vancouver, British Columbia, September 26, 2022 – Golden Shield Resources Inc. (CSE:

GSRI / FRA: 4LE0) --- (the “Company” or “Golden Shield”) is pleased to announce that it has

received approval from OTC Markets Group Inc. to commence trading on the OTCQB Venture

Market (the “OTCQB”) under the symbol “GSRFF”. Trading on the OTCQB will commence on

September 26, 2022. The Company will continue to trade on the Canadian Securities Exchange

in Canada under the symbol “GSRI”.

The OTCQB quotation is expected to provide enhanced liquidity to existing Company

shareholders and potential shareholders by allowing investors to execute trades of the Company’s

common shares in the United States and in U.S. dollars.

Leo Hathaway, Chairperson, commented “This listing on the OTCQB is an important milestone

for the Company, and provides both visibility and access to U.S.-based investors. This listing

should promote increased liquidity and simplify transactions for U.S. investors and allow them to

participate directly in Golden Shield as we advance our exploration properties in Guyana.”

Quotes for Golden Shield’s US symbol will be available once the Company’s stock commences

trading today on the OTCQB at https://www.otcmarkets.com/stock/GSRFF/overview.

About OTC Markets Group Inc

OTC Markets Group Inc. (OTCQX: OTCM) in New York, operates the OTCQX® Best Market, the

OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. To

be eligible for quotation on the OTCQB, companies must be current in their reporting and undergo

an annual verification and management certification process. Companies must also meet a

minimum bid price test and other financial conditions. OTCQB is recognized by the U.S. Securities

and Exchange Commission (“SEC”) as an established public market for the purpose of

determining the public market price when registering securities for resale with the SEC, and it

provides current public information to investors that need to analyze, value, and trade securities.

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.

Golden Shield trades on: the Canadian Securities Exchange in Canada under the symbol “GSRI”;

the OTCQB Venture Market in the USA under the symbol “GSRFF”; and the Frankfurt Stock

Exchange in Europe under the symbol “4LE0”.

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. These

forward-looking statements or information relate to, among other things: the exploratio n and development of the

Company’s mineral projects; and the impact of the Company’s OTCQB quotation.

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; 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.