SAF Group acquires 19 million shares of Goldshore Resources
Goldshore Resources Inc. is pleased to announce that 19,096,083 common shares of the company have been purchased in a private transaction involving SAF Group.
Michael Henrichsen, CEO of Goldshore commented, "We are excited about the continued support of SAF Group and the strategic placement of an additional 7% of our outstanding shares into the control of long-term supportive shareholders. SAF Group, and Brian Paes-Braga, are delivering as strategic advisors, shareholders, and board members as we accelerate the advancement of the Moss Gold deposit in this new gold environment. We believe the scale, grade, and location of Moss Gold, combined with our growing execution and financing team, make it a clear candidate for continued advancement."
The Company also announces that in connection with his appointment as Chief Executive Officer and Director, Mr. Henrichsen has been granted 2,250,000 stock options, exercisable at a price of $0.225 (closing price on May 27, 2024) until May 27, 2029, and vesting 1/3 in 6 months, 1/3 in 18 months and 1/3 in 30 months, and 600,000 restricted share units vesting on May 27, 2025.
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 ("Moss Gold") which has large scale, high grade and excellent metallurgy. It is uniquely positioned in Ontario, Canada, with direct accessibility from the Trans-Canada Highway with hydroelectric power at 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 fast track through this development cycle.
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