Goldshore hires consultants to conduct PEA for Moss Lake
Goldshore Resources Inc. has engaged G-Mining Services Inc. to deliver a Preliminary Economic Assessment ("PEA") for the Moss Gold Project. The goal is to develop an optimized and staged mine plan, and infrastructure layout, and to advance the Project toward a Project Description that will provide clarity on the scope of permitting work required. Separately, the Company has retained the services of One-eighty Consulting Group Ltd ("one-eighty") to develop a comprehensive regulatory strategy aimed at facilitating a streamlined path to construction and commercial production.
Michael Henrichsen, CEO of Goldshore commented, "We are pleased to continue to execute on our strategic plan through the appointment of both G Mining and one-eighty to meaningfully advance the Moss Gold Project. We believe the PEA will demonstrate the deep value proposition of the Project and, with the development of a strategic permitting plan, the Company will have a clear path forward as we advance the Project through pre-feasibility and feasibility studies."
Engagement of G-Mining Services to Conduct PEA:
The appointment of G Mining Services to deliver a PEA is an important milestone for the Project as it will provide the first assessment of the project economics, including cash flows, NPV, IRR, and payback period. G Mining, founded in 2006 by Louis Gignac, the 2016 Mining Hall of Fame inductee, under the management of Mathieu Gignac since 2016, is recognized as an industry leader providing mining consultancy services around the world with a reputation of delivering accurate, high-quality assessments. G Mining completed the 2021 feasibility study on Equinox's Greenstone Gold mine located 275 km northeast of Thunder Bay. This puts the firm in an excellent position to evaluate the Moss Gold Project, which the Company considers to have many similarities to the Greenstone Gold Mine.
The goals of the PEA are to outline a phased production approach prioritizing IRR and minimizing initial Capex with the study expected to be completed by the end of Q1 2025. The Company plans to take a rigorous approach to the PEA utilizing well-defined cost estimates to ensure the projected Capex aligns closely to prefeasibility study standards to enhance the study's accuracy. In addition, the PEA will define a work program that will allow the Company to advance towards a subsequent prefeasibility study as soon as possible.
Engagement of one-eighty to provide strategic regulatory and engagement advice:
The appointment of one-eighty demonstrates the Company's commitment to navigating complex regulatory landscapes while integrating socio-political, technical, and environmental considerations. Over the next three months, one-eighty will diagnose the critical factors that will enable an efficient and predictable permitting process, and will use this information to develop a strategic plan. The strategic plan includes a roadmap to minimize regulatory risks and build community support to ultimately position the project to efficiently navigate the environmental assessment process. In developing the strategic plan, one-eighty will work closely with CSL Environmental & Geotechnical Ltd ("CSL") and the Company's established community relations team, and by doing so will leverage the strong foundation the Company has cultivated over the last three years. The Company is pleased to be working with one-eighty as we strengthen our external team.
Communications Program Update
The Company has engaged Native Ads, Inc. ("Native Ads") to perform strategic digital media services, marketing and data analytics services including content development, web development, media buying and distribution and campaign reporting and optimization, for a total retainer of US$150,000 which is payable upfront from the general working capital of the Company. Native Ads has been engaged for a twenty-four (24) month term, or until the retainer is depleted.
The Company and Native Ads act at arm's length and Native Ads has no present interest, directly or indirectly, in the Company or its securities. The Company does not propose to issue any securities to Native Ads in consideration for the services to be provided to the Company. The appointment of Native Ads is subject to approval by the TSX Venture Exchange.
About Native Ads Inc.
Native Ads is a full-service ad agency in business since 2014 that owns and operates a proprietary ad exchange with over 80 integrated SSPs (supply-side platforms) resulting in daily access to three to seven billion North American ad impressions. It is the only digital agency serving public companies that owns both its own ad network, as well as a financial publisher network. Native Ads has offices in Vancouver and New York and is led by its CEO Jon Malach who is its authorized representative for its investor relations services and will oversee services provided to the Company. For more than eight years, Jon has been facilitating the strategic pairing by Native Ads of premium publishers with premium advertisers, by providing elegant native ad units.
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