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Goldshore Appoints Michael Henrichsen as Chief Executive Officer

Mr. Henrichsen is a mining executive and accomplished structural geologist who brings over 20 years of gold exploration and project development experience from previous roles with Newmont Corporation, Auryn Resources, and most recently Torq Resources. Mr. Henrichsen spent five years with Newmont from 2008 to 2013 where he led the technical program in Ghana, West Africa responsible for multiple discoveries and extension of existing gold deposits. Transitioning to a role as Global Structural Geologist, he participated in the extension and discovery of ore bodies in Yanacocha, Peru, and Long Canyon, Nevada. During his tenure at Auryn Resources from 2015 to 2020, as the Technical Lead, he orchestrated a diverse project portfolio in Canada and Peru, attracting a substantial $35 million investment from Goldcorp. Notably, his recommendation led to the successful acquisition of the Homestake Ridge Project, which sold for approximately $55 million. As Chief Geological Officer at Torq Resources from 2020 to 2023, Mr. Henrichsen played a pivotal role in establishing a high-quality exploration portfolio in northern Chile, attracting a $15 million investment from Goldfields and making significant discoveries at flagship projects, Santa Cecilia and Margarita.

Brett Richards, Interim CEO and Director, continued: "On behalf of the board, we extend a warm welcome to Michael Henrichsen. Michael brings a robust mix of technical expertise, corporate executive experience, and strategic insight garnered from his long track record in the industry. We look forward to his fresh perspectives as the Company focuses on uncovering ounces and advancing the Moss Gold Project. We are proud of the significant progress at the Moss Gold Project, seeing the resource grow from a 3.1Moz historic estimate to an Indicated mineral resource estimate (MRE) of 1.54M Contained Gold at 1.23 g/t Au and an Inferred MRE of 5.20M Contained Gold at 1.11 g/t Au. I look forward to remaining a supportive Director and long-term shareholder."

Michael Henrichsen, Incoming CEO, commented: "I am immediately drawn to the unique characteristics of the Moss Gold project which I believe demonstrates it to be a top tier development project in terms of ore body scale and grade, infrastructure, and jurisdiction. In addition, the project has excellent growth potential to add near surface ounces adjacent to the current resource. I look forward to our team delivering a PEA which will highlight the optionality and long-term economic viability of the Moss Gold Project."

About Goldshore

Goldshore is an emerging junior gold development company and owns 100% of the Moss Gold Project located in Ontario. The Company is well-financed and supported by an industry-leading management group, board of directors, and advisory board. Goldshore is well positioned to advance the Moss Gold Project through the next stages of exploration and development.

For More Information - Please Contact:

Brett A. Richards
Interim Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: @GoldShoreRes | Twitter: @GoldShoreRes | LinkedIn: @goldshoreres

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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 release of an updated mineral resource estimate and preliminary economic assessment, 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: 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; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; 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; and the impact of COVID-19.

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. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206637