Goldshore Resources Inc. share a corporate update in regards to its ongoing activities. Highlights: The Preliminary Economic Assessment on the Moss Gold Project is progressing well and is on schedule for release mid Fourth Quarter 2023. The PEA is being managed by an independent multidisciplinary team at Ausenco Engineering Canada Inc. Base Metallurgical Laboratories Ltd. has completed a gold deportment study with positive results and additional heap leach metallurgical test work is in progress at Kappes, Cassaday and Associates to maximize potential gold recoveries.

Independent review of the May 5, 2023 Mineral Resource Estimate for the Moss Gold Project recently completed by SRK Consulting (Canada) Ltd. confirms that the resource meets the CIM guidelines for the reporting of inferred mineral resources. Independent review of project permitting paths by CSL Environmental & Geotechnical Ltd. confirms that the permitting process is on-track for development with significant studies already completed and no major information or timeline hurdles expected. Phase One was an initial high-level review of various mining and milling rates and different plant processes that is conducted to select the optimal configuration for the detailed PEA (Phase Two).

While not definitive in and of itself, Phase One indicated that the most effective method to process mineralized material from the Moss Gold Project is conventional cyanide leaching with stockpiling of low-grade material for processing at the end of mine life. The Phase One results also indicated that an alternate (though more complex) flotation-leach process with heap-leaching of low-grade material provided similar returns, but size and scope of this approach needs to be studied in the future for project scoping on a larger resource (in both geological domains). During Phase Two, further test work will be conducted to better define the cost and recovery profile entailed by the alternative of heap-leaching low-grade material.

The strong association with pyrite in several samples shows why flotation was successful and, with regrind, leach extractions improved significantly. The bulk mineralogy shows high amounts of quartz and plagioclase in all samples which corelate to the high competency and hardness seen in the comminution results. Mineral Resource Audit.

Following the inclusion of external comments within the technical report drafted by CSA Global; Pete Flindell, VP Exploration for Goldshore, said, "Goldshore remains active with field mapping and geochemical sampling programs to prioritize scout drilling targets for when the drill rigs return later this year. At the same time, the company are pursuing studies to determine the economic value of the Moss Gold Project. Initial results are highly encouraging, exceeding all of the Company's economic metrics given to Ausenco as the framework for scoping the project".