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VANCOUVER, British Columbia, March 23, 2023 (GLOBE NEWSWIRE) — Goldshore Resources Inc. GSHR (“gold shore” or the “Pursue“), is pleased to announce that it has entered into an agreement with Research Capital Corporation and Eventus Capital Corp. as Co-Lead Agents and Joint Bookrunners (the “Leading Agents“), in their own name and in the name of an agent consortium to be formed (together with the Lead Agents the “agents“) in connection with a brokered private placement of the following securities (the “Securities Offered“) for aggregate gross receipts of up to $5,000,000 (the “Offer“):

(i) Shares in the Company (each a “Unit“) at a price of $0.17 per unit consisting of one common share of the Company (each a “common share“) and one-half common share purchase warrant (each whole warrant being a “warranty“); And

(ii) Company Flow-Through Entities (each a “FT unit“) at a price of $0.195 per FT Unit consisting of one common share to be treated as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “tax law“) and half of a warrant.

Each Warrant entitles the holder to purchase one common share at an exercise price of $0.25 for a period of 24 months after the Closing Date (as defined below).

The Company grants the Agents an option (the “Agent option“), which allows the Agents to offer up to a further 15% of the Offering on the same terms as the Offered Securities. The Agents’ option may be exercised in whole or in part at any time prior to the closing date of the Offering.

The Company intends to use the net proceeds from the sale of the units for working capital and future exploration at its Moss Lake gold deposit in northwestern Ontario, Canada.

The gross proceeds from the issuance of the FT Shares will be used for “Canadian exploration expenditures” within the meaning of the tax law (the “Qualification…