Announcement • Jul 31
Rocky Shore Gold Ltd Announces Board Changes Rocky Shore Gold Ltd. held its annual general and special meeting of shareholders on July 29, 2026. Alex Crosbie was elected to the Board of Directors at the meeting. Mr. Crosbie is a highly respected entrepreneur and business leader with more than 45 years of experience building, scaling, and strategically exiting companies across industrial services, resource sectors, and remote operations. He is a director of Crosbie Group Limited, a family-owned Newfoundland and Labrador-based company providing services in oil and gas, marine construction, and commercial and residential real estate. Based in St. John's, Newfoundland and Labrador, he has a long-standing track record of creating value through disciplined growth, operational excellence, and strong stakeholder relationships. Mr. Crosbie brings extensive governance experience through decades of board and shareholder roles, as well as deep expertise in supporting operations in remote and resource-based environments. Ernie Eves retired from the Board of Directors and elected not to stand for re-election at the meeting. New Risk • Jul 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$23.7m market cap, or US$16.8m). New Risk • Jun 30
New major risk - Revenue and earnings growth Earnings have declined by 1.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$28.5m market cap, or US$20.0m). 
