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Goldshore Announces Repurchase of 1% NSR from Wesdome, Filing of Q1 Financial Statements and Provides Year to Date Project Highlights
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Goldshore Resources Inc. (TSXV: G...
About this update from Gold X2 Mining Inc.
[{"type":"text","content":"Goldshore Announces Repurchase of 1% NSR from Wesdome, Filing of Q1 Financial Statements and Provides Year to Date Project HighlightsVancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (\"Goldshore\" or the \"Company\") is pleased to announce that it has exercised its right to purchase 1% Net Smelter Return (\"NSR\") on all metal production from the Moss Gold Project, located in Ontario, Canada (the \"Moss Gold Project\") from Wesdome Gold Mines Ltd. (\"Wesdome\"), for $7,500,000 with an anticipated closing date of July 21, 2025. The purchase price consists of a $5,500,000 cash payment and the issuance of 3,333,333 common shares at a deemed price of $0.60 per common share. Figure 1: Shows the property boundary for the 1% Net Smelter Return (NSR) on all metal production.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8051/253923_14aafb3d74e57ad4_002full.jpgMichael Henrichsen, CEO and Director of Goldshore, commented: \"The buyback of the 1% 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's Discussion and Analysis (\"MD&A\"), which are available on SEDAR+ at www.sedarplus.ca. Year to Date Project Highlights On March 31, 2025, the Company completed a 15,000-meter 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 124.35m of 1.65 g/t Au from 295m incl. 47m of 3.08 g/t Au, in MQD-25-17177.5m of 0.54 g/t Au from 203.5m in MQD-25-170Results from the Superion prospect discovered a new gold-mineralized shear approximately 60m from surface and 225m north of the QES Zone 17.6m of 3.03 g/t Au from 76.4m, incl. 6.8m of 7.06 g/t Au, in MQD-25-148Results from a follow-up fence of holes surrounding the MQD-25-148 intercep...