Goldshore reports drilling results from summer program and provides corporate update Page 1

• The mineral resource model has been reviewed and approved by G Mining Services for use in the PEA study.
• The company's share price has outperformed GDXJ by 155% since the updated MRE was released on February 6, 2024.
• Summer drilling programs have identified faults on the western edge of the Moss gold deposit, which will allow the Company to focus its exploration efforts on extending the deposit westward around the Moss Nose target.

Vancouver, British Columbia–(Newsfile Corp. – September 10, 2024) – Goldshore Resources Inc. (TSXV:GSHR) (OTCQB:GSHRF) (FSE:8X00) (“Goldshore” or the “Pursue“) is pleased to announce drill results from its summer drilling program and to provide an update on the progress of its Preliminary Economic Assessment (“PEA”).

• Overview of Scout drilling results:
  • A 6-8 metre (true width) shear zone of gold nugget mineralisation was discovered in the boundary zone, with the best interval being 13.30 metres grading 1.27 g/t gold.
  • The Boundary Zone is interpreted as a mineralized offshoot at a 30 degree angle to the trend of the Moss gold deposit and represents an exploration target as the Company seeks to identify additional shear zones of similar orientation as potential drill targets adjacent to the 3.6 km long Moss gold deposit.
  • Drilling on the Southwest Extension has identified the location of a significant left-lateral northeast trending fault which is interpreted to be a southwest offset of the Moss gold deposit. This provides an area of ​​focus for the development of additional drill targets in the Moss Nose area previously defined by the Company using selective rock and soil sampling.
  • The intersected mineralization in the southwest extension was interpreted as smaller peripheral shear zones of the main Moss trend.

• PEA progress overview:
  • G Mining Services Inc. (“G Mining”) completed a site visit to evaluate potential infrastructure sites on July 23, 2024.
  • The mineral resource model has been reviewed and approved by G Mining Services for use in the PEA study.
  • The economics of several high level mining and milling scenarios are currently being reviewed to determine the optimal project for the PEA study.

• Market overview:
  • From the publication of the updated MRE on February 6, 2024 through August 31, 2024, the Company’s share price has outperformed the VanEck Junior Gold Miners ETF (the “GDXJ“) by 155%, with Goldshore's share price increasing by 191% during this period.
  • The Company has observed strong insider support and purchased approximately 6 million shares on the open market from May 1, 2024 to July 31, 2024, representing approximately 10% of the total volume during the period.
  • As of August 31, 2024, 6.4% of the Company's shares are held by the Board of Directors and management, with a further 35.0% owned by strategic shareholders, including Brian Paes-Braga, Lutry Investments, members of the SAF Group and close associates.

Michael Henrichsen, CEO of Goldshore, commented: “The Company is pleased to provide an update as we continue to execute on our strategic plan. From a growth perspective, we have tested two key targets and gained valuable information to further explore the Moss gold deposit and its surrounding area. Of note for the technical team is the identification of a fault along the western edge of Moss that offsets the deposit to the south-southwest and will allow the Company to focus its exploration efforts on extending the deposit westward along the Moss Nose target. In addition, solid progress has been made on the PEA study, the Company's biggest catalyst over the next 6-7 months with G Mining Services. A site visit and mineral resource model validation have been completed and the study is currently focused on determining the optimal mining and processing scenario for a staged production approach that will form the basis for the future PEA study. We are encouraged by the strong performance of our share price, which is underpinned by the unwavering support of our strategic shareholders who have consistently demonstrated their commitment through significant purchases on the open market. This support has enabled us to continue to transfer shares into the hands of long-term shareholders and align our ownership structure with our long-term growth strategy.”

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