Shallow Mineralization Intersected At The Moss Gold Project

VANCOUVER - Goldshore Resources Inc. reported on its ongoing 15,000-meter drill program and results from the Southwest Zone of the Moss Gold Project in Northwest Ontario, Canada.

Michael Henrichsen, CEO, said, "We are pleased with the continued success of our 15,000-meter winter drill program. Drilling at the Southwest Zone continues to demonstrate the upside of the Moss Gold Deposit, where results to date have brought mineralized shears toward surface, effectively converting waste to ore. Additionally, mineralization has been extended beneath the conceptual open pit, highlighting the potential for significant resource growth with additional drilling. Our focus is to continue demonstrating upside within the deposit, with the drill rigs currently following up on the Superion discovery at shallow depths at the northeast region of the deposit. We look forward to reporting continued accretive drill results soon.”

Drilling at the Southwest Zone continues to focus on adding to the mineral resource by infilling gaps within the current model created by sparse drilling. Drilling at shallow depths of 100 to 200 meters will allow for mineralized shear zones to be extended to the surface. Drilling at depths of 200 to 400 meters will allow the expansion of the open pit resource to a similar depth as the Main-QES pit (~500 meters).

Hole MMD-24-137 collared into a sequence of andesitic and dacitic volcanic rocks with a swarm of narrow to epidote-chlorite altered diorite dykes until intersecting sheared sedimentary rocks containing a mineralized exhalative horizon at 188m. The exhalative horizon returned elevated gold and copper values including the intercept of 14.0m of 0.62 g/t Au and 0.41% Cu from 196.0m, including 3.0m of 1.58 g/t Au and 1.19% Cu from 204.05m. While the exhalative horizon does not appear to extend for any significant strike length, the new intersection highlights the potential for additional deposit styles and amplifies the potential of numerous untested conductors across the Moss claim package that correspond to known VMS mineralization. Further desktop work is underway to evaluate similarities between the new horizon and the historic North Coldstream Cu-Au VMS mine. The hole was terminated after it entered the Southwest Zone diorite package that hosts mineralized shears tested by previous drillholes.

Hole MMD-25-141 collared into the northern dacite volcanic package before intersecting the centre of the Southwest Zone between high grade lenses. The hole intersected a weakly sheared, wide alternating silica-sericite and epidote-chlorite altered diorite intrusion package yielding several narrow lower grade intercepts such as 12.2m of 0.61 g/t Au from 163.0m and 13.0m of 0.61 g/t Au from 332m. The area had been previously modelled as having dominantly lower grades, which was confirmed by the infill drilling.

Hole MMD-25-140 and MMD-25-142 targeted the western end of the Southwest Zone aiming to both extend shears to surface near the collar and extend the core high grade shears below the current conceptual pit. Both holes collared into the andesitic and dacitic volcanic rocks before both drilling into the typical altered and locally sheared diorite package. Both holes extended existing mineralized shears towards surface with intercepts such as 25.0m of 0.68 g/t Au from 133.0m, including 3.2m of 1.19 g/t Au from 138.0m and 3.5m of 1.53 g/t Au from 154.5m, in MMD-25-140 and 6.5m of 1.11 g/t Au from 57.0m in MMD-25-142. Additionally, each hole extended mineralization beneath the conceptual open pit with intercepts of 15.0m of 1.68 g/t Au from 456m, including 3.0m of 3.19 g/t Au from 458.0m in MMD-25-140 and 25.5m of 0.71 g/t Au from 270.5m, including 3.1m of 3.92 g/t Au from 281.0m.

Hole MMD-24-147 was collared into the Southwest Zone targeting the upward extension of several mineralized shears below Snodgrass Lake. The hole collared into the typical altered and locally sheared diorite- and granodiorite-hosted mineralization and drilled through to the volcanic package at 241m, shortly after which the hole was stopped. The hole intersected higher than predicted grades in comparison to the current MRE yielding an intercept of 25.89m of 1.15 g/t Au from 84.91m, including 3.17m of 6.8 g/t Au from 107.63m. The hole additionally confirmed the extension of several mineralized shears towards surface with intercepts of 5.15m of 2.68 g/t Au from 135.65m and 7.29m of 1.03g/t g/t Au from 216.14m.