Goldshore expanding environmental data to support permitting process

Goldshore Resources Inc. is providing an update on its ongoing environmental data collection at its 100%-owned 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.

• 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.

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