Goldshore Resources Inc. Enhances Moss Gold Project Ownership with NSR Repurchase from Wesdome
- Goldshore Resources Inc. is repurchasing a 1% NSR from Wesdome for $7.5 million to consolidate ownership of the Moss Gold Project.
- The company has reported significant drilling successes, including intercepts of up to 124.35 meters at 1.65 g/t gold.
- Goldshore is fostering community relations through an agreement with the Lac des Mille Lacs First Nation to ensure local benefits.
Goldshore Resources Inc. Strengthens Position in Moss Gold Project with NSR Repurchase
Goldshore Resources Inc. (TSXV: GSHR) announces a pivotal step in its strategic development by opting to repurchase a 1% Net Smelter Return (NSR) from Wesdome Gold Mines Ltd. for $7,500,000. The transaction, which includes a cash payment of $5,500,000 and the issuance of 3,333,333 common shares priced at $0.60 each, is set to close on July 21, 2025. This move is part of Goldshore’s broader strategy to consolidate ownership of the Moss Gold Project in Ontario, which has shown promising advancements since the company outlined its strategic plan in June 2024.
The Moss Gold Project has been a focal point for Goldshore, especially following a successful 15,000-meter diamond drilling program that has yielded significant results. Recent findings include an impressive intercept of 124.35 meters at 1.65 grams per tonne (g/t) gold in the QES Zone, alongside the discovery of a new gold-mineralized shear at the Superion prospect, which reported results of 17.6 meters at 3.03 g/t Au. To further bolster its resource base, Goldshore has decided to expand its drilling program by an additional 5,000 meters, strategically targeting areas near the current open pit to enhance resource estimates.
Furthermore, Goldshore is committed to fostering positive relationships with local communities, as demonstrated by its recent entry into an Impact Benefit Agreement Term Sheet with the Lac des Mille Lacs First Nation. This agreement signifies Goldshore's dedication to ensuring that the Moss Gold Project delivers long-term benefits to the surrounding community, aligning the company’s operational goals with the social and economic needs of local stakeholders. With the completion of its final milestone payment to Wesdome as of May 30, 2025, Goldshore has fulfilled all obligations to secure a 100% interest in the project, positioning itself for future growth and exploration success.
In summary, Goldshore Resources Inc. is solidifying its foothold in the Ontario gold mining sector through strategic financial maneuvers and community engagement. The repurchase of the NSR from Wesdome, coupled with recent drilling successes and community agreements, illustrates the company's commitment to maximizing the potential of the Moss Gold Project while ensuring responsible development practices.