Goldshore Resources Inc. announced a brokered private placement of conventional common share units at a price of CAD 0.17 per unit and flow-through units at a price of CAD 0.195 per flow-through unit for gross proceeds up to CAD 5,000,000 on March 23, 2023. Each conventional common share units comprised of one of one common share and one-half common share purchase warrant. Each flow-through unit comprised of one common share that will qualify as flow-through share.

Each Warrant shall entitle the holder thereof to acquire one common share at an exercise price of CAD 0.25, for a period of 24 months following the closing date. As part of transaction the company has entered into an engagement letter with Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners on their own behalf and on behalf of a syndicate of agents to be formed. The company will grant the agents an option which will allow the agents to offer up to an additional 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 has agreed to pay to the agents a cash commission equal to 6% of the gross proceeds of the Offering. In addition, the company has agreed to issue to the agents compensation warrants of the company exercisable for a period of 24 months, to acquire in aggregate that number of common shares of the company which is equal to 6% of the number of offered securities sold under the offering at a price of CAD 0.17 and CAD 0.195, respectively.

The securities will be subject to a hold period of four months and one day from the closing date. The transaction is scheduled to close on or about April 12, 2023 and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, the approval of the TSX Venture Exchange.