Goldshore Resources Expands the Superion Zone with 9.45m of 6.02 gt Au in Follow up Drilling at the Moss Deposit

Published: 2025-05-16 05:48:14 ET GSHR.V

Published on 05/16/2025 at 05:48

Vancouver, British Columbia - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) ('Goldshore' or the 'Company') is pleased to announce its latest assay results from its completed 20,000-meter drill program and the results of the follow-up drilling on the recently discovered, near-surface, mineralized zone at the Superion target, north of the QES zone at the Moss Gold Project in Northwest Ontario, Canada.

Michael Henrichsen, CEO of Goldshore commented, 'We are pleased to see Superion emerge as a high-grade zone, near surface, that sits on the northern margin of the conceptual open pit. With multiple intercepts into the mineralized structure, we have gained valuable knowledge of its orientation and believe we will be able to expand the zone significantly along strike. The Company has completed the 20,000-meter drill program with an additional 18 drill holes to be reported over the coming weeks.'

Highlights

Results from a follow-up fence of holes surrounding the MQD-25-148 intercept (17.6m of 3.03 g/t Au from 76.4m) as reported in the Company's news release dated on March 3, 2025, have increased the strike length of the new zone to over 100 meters, which remains open in all directions. Best intercepts include: 9.45m of 6.02 g/t Au from 186.0m in MQD-25-175, including

2.45m of 22.2 g/t Au from 193.0m

13.0m of 2.30 g/t Au from 117.0m in MQD-25-176, including 3.0m of 9.00 g/t Au from 124.0m, and 10.0m of 1.17 g/t Au from 144.0m including 4.0m of 2.67 g/t Au from 149.0m

3.5m of 2.72 g/t Au from 41.4m in MQD-25-177, including 0.4m of 9.67 g/t Au from 43.0m, and 3.0m of 3.54 g/t Au from 242.0m, including 1.0m of 7.28 g/t Au from 242.0m

Exploratory holes drilled across the largely untested area east of Superion intersected numerous mineralized shears similar in nature to marginal shears surrounding the Moss deposit, including: 0.3m of 5.37 g/t Au from 224.2m in MQD-25-146, and 2.25m of 1.17 g/t Au from 248.75m

4.06m of 1.08 g/t Au from 140.65m in MQD-25-149

0.3m of 5.86 g/t Au from 55.85m in MQD-25-163

0.9m of 11.9 g/t from 143.0m in MQD-25-168

Technical Overview

Drill results reported herein are from the Superion drill program, targeting a significant and largely untested area of swampy terrain northeast of the Moss deposit. Drilling aimed to identify new zones of mineralization within the northern part of the existing conceptual open pit.

carbonate veinlets and 3-5% pyrite-chalcopyrite mineralization. cHoles MQD-25-146, MQD-25-174, MQD-25-175, MQD-25-176, and MQD-25-177 were drilled as 50-meter step outs behind and along strike of the recently discovered mineralized shear in MQD-25-148 (17.6m of 3.03 g/t Au from 76.4m) as reported in the Company's news release dated March 3, 2025.Each hole intersected a similar package of largely undeformed epidote-chlorite altered diorite containing 2-3% disseminated pyrite with localized strong sericite-silica altered shears containing numerous, highly deformed, cm-scale quartz

Multiple parallel shears, often spaced 25 to 50 meters apart, have been intersected with mineralization returning higher grade intercepts of 9.45m of 6.02 g/t Au from 186.0m in MQD-25-175, including 2.45m of 22.2 g/t Au from 193.0m and 9.0m of 2.30 g/t Au from 117.0m in MQD-25-176, including 3.0m of 9.00 g/t Au from 124.0m. Lesser mineralized intercepts include 3.35m of 0.93 g/t Au from 248.15m in MQD-25-146, including 2.25m of 1.17 g/t Au from 248.75m; 0.7m of 3.57 g/t Au from 350.3m in MQD-25-175 and 3.50m of 2.72 g/t Au from 41.4m in MQD-25-177, including 2.75m of 3.33 g/t Au from 42.15m.

Oriented core measurements collected during the logging process indicate that this shear system trends roughly east-west and coincides with the deeper high-grade intercepts in MQD-22-014 (16.0m of 2.69 g/t Au from 477m, including 5.25m of 7.87 g/t from 477.75m) as reported in the Company's news release dated May 5, 2022. This implies significant room for the mineralized system to grow through further drilling.

Holes MQD-25-149 and MQD-25-150 were drilled approximately 160 meters east of MQD-25-148, testing the up-dip extensions of deeper shears intersected in previous drilling. The holes intersected the same undeformed epidote-chlorite altered diorite body as noted above, with similar sericite-silica altered and sulphide-bearing shear zones. Shearing is of a lesser intensity than that intersected around the core of the Superion discovery and returned intercepts of 4.06m of 1.08 g/t Au from 140.65m in MQD-25-149 and 5.0m of 0.44 g/t Au from 132.0m in MQD-25-150. The wide spacing of drill holes means that zones of stronger shearing may still be present in the area.

Holes MQD-25-161, MQD-25-162, MQD-25-163, MQD-25-164, and MQD-25-168 were drilled on 100- to 200-meter spacings further to the northeast to evaluate a large area of swampy terrain northeast of the Moss deposit that has been mostly untested by previous exploration campaigns. All holes intersected the same undeformed epidote-chlorite altered multiphase diorite body that hosts shears at Superion in addition to narrow, Superion-style, sericite-silica altered shear zones with variable sulphide mineralization. These shears returned high-grade gold-bearing intercepts over narrow widths such as 0.3m of 5.86 g/t Au from 55.85m in MQD-25-163 and 0.9m of 11.9 g/t from 143.0m in MQD-25-168.

Given the broad spacing, a large area of 250 meters by 1,000 meters remains poorly tested and likely contains additional untested shears. Additional drill holes will be planned for later in the year following a thorough analysis of oriented core data and the distribution of the different diorite intrusion phases.

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.

Contact:

Michael Henrichsen

Email: [email protected]

Web: www.goldshoreresources.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute 'forward-looking statements.' Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects,' 'plans,' 'anticipates,' 'believes,' 'intends,' 'estimates,' 'projects,' 'potential' and similar expressions, or that events or conditions 'will,' 'would,' 'may,' 'could' or 'should' occur. Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements regarding the Company's future drill plans, including the expected benefits and results thereof; that the Superion target has the potential to significantly add to the current mineral resource estimate within the top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; the potential for resource growth at Moss and the fact that the results have the potential to significantly impact the economic performance of the deposit moving forward; the potential for a much larger mineralized system and that it will be pursued in the near future through additional drilling and other statements that are not historical facts.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management's expectations; the Company's exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company's limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; the Superion target may not add to the current mineral resource and other risks associated with executing the Company's objectives and strategies as well as those risk factors discussed in the Company's continuous disclosure documents filed under the Company's SEDAR+ profile at www.sedarplus.ca.

The forward-looking information in this news release is based on management's reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company's ability to fund its programs; the Company's ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and effective manner; the Company's ability to obtain financing as and when required and on reasonable terms; that the Company's activities will be in accordance with the Company's public statements and stated goals; that the Superion target will add to the current mineral resource; that the Company's exploration work will deliver the results expected and that there will be no material adverse change or disruptions affecting the Company or its properties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.