Mr. Michael Henrichsen reports

GOLDSHORE ANNOUNCES REPURCHASE OF 1% NSR FROM WESDOME, FILING OF Q1 FINANCIAL STATEMENTS AND PROVIDES YEAR TO DATE PROJECT HIGHLIGHTS

Goldshore Resources Inc. has exercised its right to purchase 1-per-cent net smelter return (NSR) on all metal production from the Moss gold project, located in Ontario, Canada, from Wesdome Gold Mines Ltd. for $7.5-million with an anticipated closing date of July 21, 2025. The purchase price consists of a $5.5-million cash payment and the issuance of 3,333,333 common shares at a deemed price of 60 cents per common share.

Michael Henrichsen, chief executive officer and director of Goldshore, commented: "The buyback of the 1-per-cent NSR further consolidates the ownership of the Moss gold project, where our team has unlocked significant value since the outlining of a strategic plan in June of last year. With continued drilling success and expected future resource growth, it is prudent to exercise this right given the anticipated high return on investment."

The company further announces that it has filed its first quarter interim financial statements and the accompanying management discussion and analysis, which are available on SEDAR+.

Year-to-date project highlights:

• On March 31, 2025, the company completed a 15,000-metre diamond drilling program, which focused on targeting additional ounces within and adjacent to the conceptual open pit. The program yielded the following highlights:
  • Results from two drill holes, which infilled significant drilling gaps in the QES zone:
    • 124.35 m of 1.65 grams per tonne gold from 295 m, including 47 m of 3.08 g/t Au, in MQD-25-171;
    • 77.5 m of 0.54 g/t Au from 203.5 m in MQD-25-170;
  • Results from the Superion prospect discovered a new gold-mineralized shear approximately 60 m from surface and 225 m north of the QES zone:
    • 17.6 m of 3.03 g/t Au from 76.4 m, including 6.8 m of 7.06 g/t Au, in MQD-25-148;
  • Results from a follow-up fence of holes surrounding the MQD-25-148 intercept (17.6 m of 3.03 g/t Au from 76.4 m) increased the strike length of the new zone to over 100 m:
    • 9.45 m of 6.02 g/t Au from 186.0 m, including 2.45 m of 22.2 g/t Au, in MQD-25-175;
    • 13.0 m of 2.30 g/t Au from 117.0 m, including 3.0 m of 9.00 g/t Au, in MQD-25-176;
  • Results from the southwestern end of the Moss deposit extended gold mineralization with increased grades 150 m below the conceptual open-pit resource:
    • 20.55 m of 2.58 g/t Au from 458.15 m, including 14.7 m of 3.52 g/t Au, in MMD-24-139;
  • Results from three drill holes continued to extend mineralized shears toward surface at the Southwest zone, with a best intercept of:
    • 5.15 m of 2.68 g/t Au from 135.65 m, including 2.35 m of 5.19 g/t Au, in MMD-25-147;
  • Results from two drill holes targeting the gap between the Main and Southwest zones intersected new high-grade mineralization representing a combined-true-width mineralized corridor of 75 m connecting the two zones:
    • 12.9 m of 2.64 g/t Au from 243.4 m, including 4.4 m of 6.59 g/t Au, in MMD-25-165;
    • 2.0 m of 2.81 g/t Au from 98.0 m and 5.4 m of 1.59 g/t Au from 143.6 m, including 0.4 m of 18.2 g/t Au, in MMD-25-166.
• On April 9, 2025, the company announced a 5,000-metre expansion of its winter diamond drilling program focused on expanding the resource at the southwestern portion of the deposit by drilling underneath the current conceptual open pit and closing the gap between the Southwest and Moss Main pits. This program was completed on May 9, 2025, with a total of 66 holes (21,292.35 metres) completed.
• On May 26, 2025, the company announced it had signed an impact benefit agreement (IBA) term sheet with Lac des Mille Lacs First Nation, marking a significant step toward the negotiation of an impact benefit agreement. The IBA term sheet reflects a shared commitment to ensure the Moss gold project delivers meaningful and long-term benefits to the community.
• The company has provided notice to Wesdome of its exercise of the purchase option on the 1-per-cent NSR on all metal production from the Moss gold project for $7.5-million, with an anticipated closing date of July 21, 2025. The purchase price consists of a $5.5-million cash payment and the issuance of 3,333,333 common shares at a deemed price of 60 cents per common share.
• On May 30, 2025, the company also completed its final milestone payment to Wesdome in relation to the Moss gold project purchase agreement. The milestone payment consists of a share issuance of 12.5 million common shares at a deemed price of 60 cents per common share. Following completion of this milestone payment, Goldshore has satisfied all commitments related to the acquisition of its 100-per-cent interest in the Moss gold project.
• Additionally, the company has entered into an agreement to repurchase 1.5 per cent of a 2.5-per-cent net profit interest (NPI) in the Moss gold project. As partial consideration for the repurchase, the company has agreed to issue to the NPI holder, subject to the acceptance of the TSX Venture Exchange, one million common shares at a deemed issue price of 33 cents per common share and, after four years, such number of common shares as is equal to $300,000 based on the 20-day VWAP (volume-weighted average price) of the common shares prior to issuance.

Mr. Henrichsen commented: "We continue to advance our resource growth initiatives, the economic study and our permitting work in order to drive significant progress in the development of the Moss gold project. The completion of our 20,000-metre diamond drilling program has yielded accretive results, including the discovery of newly discovered mineralized shears and the extension of known mineralization, which we expect to have a significant impact on our upcoming PEA [preliminary economic assessment]. We're also pleased to have signed an impact benefit agreement term sheet with Lac des Mille Lacs First Nation, marking a major step forward in our commitment to delivering long-term benefits to the community."

Qualified person

Peter Flindell, PGeo, MAusIMM, MAIG, vice-president, exploration, of the company, and a qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss gold project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and quality assurance/quality control results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the company's health and safety policies in the field to ensure full compliance and consulted with the project's host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the company's remediation protocols.

About Goldshore Resources Inc.

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 1 jurisdictions. It is led by the former 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-per-cent-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 a skilled work force. The company has invested over $60-million of new capital and completed approximately 80,000 metres of drilling on the Moss gold project, which, in aggregate, has had over 235,000 metres of drilling. The 2024 updated National Instrument 43-101 mineral resource estimate (MRE) has expanded to 1.54 million ounces of indicated gold resources at 1.23 grams per tonne gold and 5.20 million ounces of inferred gold resources at 1.11 grams per tonne gold. The MRE only encompasses 3.6 kilometres of the 35-plus-kilometre 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. Please see the NI 43-101 technical report titled "Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada," dated March 20, 2024, with an effective date of Jan. 31, 2024, available under the company's SEDAR+ profile.

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