GOLDEN SHIELD COMMENCES PHASE III DRILLING AT MARUDI MOUNTAIN TO EXTEND MINERALIZATION AT MAZOA HILL AND TEST NEW EXPLORATION TARGETS

GOLDEN SHIELD COMMENCES PHASE III DRILLING AT MARUDI MOUNTAIN TO EXTEND MINERALIZATION AT MAZOA HILL AND TEST NEW EXPLORATION TARGETS

  • Expansion of high-grade gold mineralization at the Mazoa Hill Deposit laterally and to depth: Drill holes will step-out on existing high-grade intercepts.
  • Drill-test new exploration prospects: New targets will be drill tested to assess the expansion potential of the Marudi Mountain property.
  • Continued Exploration: Induced Polarization (IP) survey will be conducted on the Marudi Mountain property consisting of a minimum of 20-line km, over the Mazoa, Throne and July prospects. Trenching and field mapping will continue throughout the duration of the drill program.

-- (the " Company " or " Golden Shield ") is pleased to announce the commencement of Phase III drilling at the Marudi Mountain property located in southwestern Guyana (the " Marudi Mountain Property "). Drill crews have been mobilized to site, and drilling is underway. Phase III of drilling will target the extension of mineralization at the Mazoa Hill Deposit and the drilling of new exploration targets.

CEO, Hilbert Shields stated, " The continued exploration of the Marudi Mountain Property is currently our priority. Golden Shield's Phase I and Phase II exploration programs confirmed and extended high-grade gold mineralization at the Mazoa Hill deposit. Since June field crews have been working hard to discover new targets, and we are excited by the results, especially at Throne and July ."

Overview of the Marudi Mountain Property with Magnetization Vector Inversion (MVI) 100m depth slice map as background. Phase III Drill targets are highlighted. (CNW Group/Golden Shield Resources)

Phase III Drilling

The primary objective of the 3000 m , phase III, program of drilling on the Marudi Mountain Property is to extend high-grade gold mineralization at depth and laterally at the Mazoa Hill deposit and test at least two undrilled targets; Throne and July. These new targets were identified by Golden Shield geologists and have been shown to have the same mineralized host lithology, Quartzite-Metachert ('QMC'), as the Mazoa Hill deposit. Prioritization of greenfield drill targets will be based on coincident anomalies in trenching, geophysics, and field exploration data.

Exploration

Field exploration, including trenching, mapping, sampling, and field traverses, will continue while drilling is ongoing at the Marudi Mountain Property. The Company will also be conducting an Induced Polarization (IP) survey. The IP survey aims to map gold-bearing sulfide mineralization on the Marudi Mountain property and will occur between the Mazoa Hill Deposit and the July and Throne prospects. This area has been established as a 1.9 km mineralized trend (see news release dated Sept. 12, 2022 ). The IP survey will be oriented in a NE-SW-direction, perpendicular to the apparent trend of the mineralized host rock. A total of 20-line km are set to be completed on the property.  The IP-survey will establish the geophysical signature at depth at Mazoa Hill and based on this, identify similar target areas.

Qualified Person

Leo Hathaway , P. Geo, Executive Chair of Golden Shield , and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified, and approved the scientific and technical information in this news release and has verified the data underlying that scientific and technical information.

About Golden Shield

Golden Shield Resources was founded by experienced professionals who are convinced that there are many more gold mines yet to be found in Guyana . The company is well-financed and has three wholly controlled gold projects: Marudi Mountain, Arakaka and Fish Creek. Golden Shield continues to evaluate other gold opportunities in Guyana .

This news release includes certain "Forward Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward looking statements or information. These forward looking statements or information relate to, among other things: the exploration and development of the Company's mineral projects; and release of drilling results.

Forward looking statements and forward looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Golden Shield , future growth potential for Golden Shield and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Golden Shield's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Golden Shield's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward looking statements or forward-looking information and Golden Shield has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mineral exploration activities in Guyana ; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified in the Company's public disclosure documents available on www.sedar.com . Readers are cautioned against attributing undue certainty to forward looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update these forward looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

Golden Shield Resources Inc. Logo (CNW Group/Golden Shield Resources)

SOURCE Golden Shield Resources

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GOLDEN SHIELD ANNOUNCES U.S. LISTING ON OTCQB UNDER THE SYMBOL "GSRFF"

GOLDEN SHIELD ANNOUNCES U.S. LISTING ON OTCQB UNDER THE SYMBOL "GSRFF"

-- (the " Company " or " Golden Shield ") is pleased to announce that it has received approval from OTC Markets Group Inc. to commence trading on the OTCQB Venture Market (the " OTCQB ") under the symbol "GSRFF". Trading on the OTCQB will commence on September 26, 2022 . The Company will continue to trade on the Canadian Securities Exchange in Canada under the symbol "GSRI".

Golden Shield Resources (CNW Group/Golden Shield Resources)

The OTCQB quotation is expected to provide enhanced liquidity to existing Company shareholders and potential shareholders by allowing investors to execute trades of the Company's common shares in the United States and in U.S. dollars.

Leo Hathaway , Chairperson, commented "This listing on the OTCQB is an important milestone for the Company, and provides both visibility and access to U.S.-based investors. This listing should promote increased liquidity and simplify transactions for U.S. investors and allow them to participate directly in Golden Shield as we advance our exploration properties in Guyana ."

Quotes for Golden Shield's US symbol will be available once the Company's stock commences trading today on the OTCQB at https://www.otcmarkets.com/stock/GSRFF/overview .

About OTC Markets Group Inc

OTC Markets Group Inc. (OTCQX: OTCM) in New York , operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. To be eligible for quotation on the OTCQB, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must also meet a minimum bid price test and other financial conditions. OTCQB is recognized by the U.S. Securities and Exchange Commission ("SEC") as an established public market for the purpose of determining the public market price when registering securities for resale with the SEC, and it provides current public information to investors that need to analyze, value, and trade securities.

About Golden Shield

Golden Shield Resources was founded by experienced professionals who are convinced that there are many more gold mines yet to be found in Guyana . The company is well-financed and has three wholly controlled gold projects: Marudi Mountain, Arakaka and Fish Creek. Golden Shield continues to evaluate other gold opportunities in Guyana .

Golden Shield trades on: the Canadian Securities Exchange in Canada under the symbol "GSRI"; the OTCQB Venture Market in the USA under the symbol "GSRFF"; and the Frankfurt Stock Exchange in Europe under the symbol "4LE0".

This news release includes certain "Forward Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward looking statements or information. These forward looking statements or information relate to, among other things: the exploration and development of the Company's mineral projects; and the impact of the Company's OTCQB quotation.

Forward looking statements and forward looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Golden Shield , future growth potential for Golden Shield and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Golden Shield's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Golden Shield's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward looking statements or forward-looking information and Golden Shield has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mineral exploration activities in Guyana ; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified in the Company's public disclosure documents available on www.sedar.com . Readers are cautioned against attributing undue certainty to forward looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update these forward looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

SOURCE Golden Shield Resources

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GOLDEN SHIELD DRILlS 10 M AT 2.68 G/T GOLD AND 4 M AT 7.77 G/T GOLD, CONFIRMING HIGH-GRADE DEPTH EXTENSION AT MAZOA HILL DEPOSIT AND DISCOVERS FIVE ADDITIONAL PROSPECTS, TWO DRILL READY

GOLDEN SHIELD DRILlS 10 M AT 2.68 G/T GOLD AND 4 M AT 7.77 G/T GOLD, CONFIRMING HIGH-GRADE DEPTH EXTENSION AT MAZOA HILL DEPOSIT AND DISCOVERS FIVE ADDITIONAL PROSPECTS, TWO DRILL READY

  • 4m grading 7.77 g/t gold confirms high-grade depth extension at Mazoa Hill.
  • Two new areas of gold host rock QMC identified – both larger than Mazoa Hill.
  • Drilling starting mid-September to year end and trenching ongoing.

Golden Shield Resources Inc. (CSE: GSRI) (FRA: 4LE0) (the "Company" or "Golden Shield") is pleased to announce assay results from the final four holes of the Company's eleven-hole 3,100 metre Phase Two drill program and recent trenching results at its flagship, 5,457-hectare Marudi Mountain gold project located in the Rupununi District of southwestern Guyana . The Phase Two drill program was designed to test the extension of mineralization at depth and laterally at the previously identified Mazoa Hill prospect.

MAZOA DRILL RESULTS

Drill holes MH-22-24, MH-22-25 and MH-22-26 were drilled to test the southern extension of Mazoa Hill Deposit. This area had seen limited historical drilling. Drillhole MH-22-27 was drilled to infill a previously undrilled panel in the northern part of the deposit. Detailed geological logging and interpretative work has shown that a high-grade mineralized envelope (the "Main Zone") within the Quartz Metachert ("QMC"), plunges shallowly to the south. The Main Zone is interpreted to be down dropped vertically to the south, by a steeply dipping fault (Figure 3). The next (third) phase of drilling will target the down-dropped extension of the Main Zone, as shown in Figure 3.

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Golden Shield Closes C$6.3M Private Placement

Golden Shield Closes C$6.3M Private Placement

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES /

(GSRI:CSE)

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Golden Shield Upsizes Private Placement

Golden Shield Upsizes Private Placement

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES /

(GSRI:CSE)

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Golden Shield Amends Private Placement Terms

Golden Shield Amends Private Placement Terms

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES /

Golden Shield Resources Corp. (CSE: GSRI) ( Frankfurt : 4LE0) (" Golden Shield " or the " Company ") announced today that it has amended the terms of its private placement previously announced on June 9, 2022 (the " Offering ").

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Quimbaya Gold Inc. Trades on the OTCQB Market in the United States and Initiates Private Placement

Quimbaya Gold Inc. Trades on the OTCQB Market in the United States and Initiates Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

  • QIM believes this listing is an important step for the Company and provides transparent trading for current and future U.S. investors
  • Provides improved accessibility and liquidity for a broad range of private and ‎institutional U.S. investors
  • Initiates private placement offering of units for gross proceeds of up to $2,025,000

Quimbaya Gold Inc. (CSE: QIM) (OTC: QIMGF) ("Quimbaya" or the "Company") to announce the Company's common shares have been accepted and qualified to trade on the OTCQB Venture Market in the United States operated by the OTC Markets Group Inc.

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Marvel Closes Final Tranche of Private Placement

Marvel Closes Final Tranche of Private Placement

Marvel Discovery Corp. (TSXV:MARV)(FSE:O4T)(OTCQB:MARVF) (the "Company") announces that it has closed the final tranche of its previously announced non-brokered private placement (the "Private Placement") by issuing 2,525,000 non flow-through units (the "NFT Units") at $0.04 per NFT Unit for gross proceeds of $101,000 (the "Final Tranche

Each NFT Unit consists of one non flow-through share (an "NFT Share") and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire an additional NFT Share at an exercise price of $0.075 per NFT Share for a period of five years.

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NV Gold To Consolidate Common Shares

NV Gold To Consolidate Common Shares

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that it intends to consolidate of all of the issued and outstanding common shares of the Company (the "Shares") on the basis of one (1) post-consolidated Share for every ten (10) pre-consolidated Shares held (the "Consolidation"), subject to approval of the TSX Venture Exchange (the "Exchange

The effective date of the Consolidation will be announced in a separate news release once the Company receives approval from the Exchange. As a result of the Consolidation, it is expected that the 88,745,454 Shares which are currently issued and outstanding will be reduced to approximately 8,874,545 Shares, subject to rounding. No fractional Shares will be issued as a result of the Consolidation. Any fractional share interest of 0.5 or higher arising from the Consolidation will be rounded up to one whole Share, and any fractional share interest of less than 0.5 will be cancelled. The Company's name and stock symbols will remain unchanged following the Consolidation.

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Element79 Gold Reports Additional High-Grade Results from Pillune, Sando Alcalde regions of Lucero Project

Element79 Gold Reports Additional High-Grade Results from Pillune, Sando Alcalde regions of Lucero Project

(TheNewswire)

Element79 Gold Corp.

Vancouver, BC TheNewswire - February 13, 2024 Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS0) ("Element79 Gold", the "Company") is pleased to  announce the final results of the 2023 work campaign that SLM Resource Group ("SLM") completed at the Lucero mine project in Arequipa, Peru.

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Prismo Metals ZTEM Survey Identifies Priority Drill Target at the Hot Breccia Copper Project in Arizona

Prismo Metals ZTEM Survey Identifies Priority Drill Target at the Hot Breccia Copper Project in Arizona

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("Prismo" or the "Company") is pleased to announce that the heliborne ZTEM geophysical survey undertaken at its Hot Breccia copper project in Arizona has identified a priority drill target. Hot Breccia is located in the heart of the prolific Arizona Copper Belt between Tucson and Phoenix (Fig. 1).

The ZTEM survey identified a large conductive body at depth below the surface exposure of a large dike swarm that hosts the namesake breccias. Anomalous copper and gold assays are locally present at the surface in this area (see press release of July 11, 2023), and high-grade copper and zinc assays are present above this anomaly in historic drill holes completed by major copper producers in the 1970's and early 1980's (see press release of January 29, 2023).

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TomaGold Extends East Block Acquisition Term

TomaGold Extends East Block Acquisition Term

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) (" TomaGold " or the " Corporation ") wishes to inform its shareholders that it has extended the "Option to Purchase" with Chibougamau Independent Mines Inc. (TSXV: CBG) (" Chibougamau ") by 45 days to allow completion of due diligence and secure financing to acquire Chibougamau's East Block copper-gold properties. The initial transaction was announced in the press releases dated August 14, 2023 September 13, 2023 and September 18, 2023 .

About TomaGold
TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the recent agreements to acquire 20 properties in the camp, the Corporation holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake.

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