Tillkännagivande • Apr 09
Golden Shield Resources Inc. announced that it has received CAD 2 million in funding On April 7, 2026, Golden Shield Resources Inc closed the transaction. The company issued 8,000,000 units at a price of CAD 0.25 per Share for gross proceeds of CAD 2,000,000. Each Unit consists of one common share of the Company and one common share
purchase warrant. Each Warrant entitles the holder to acquire one Share at an exercise price of CAD 0.35 per Share for a period of 12 months following closing, subject to an acceleration clause. In connection with the Offering, the Company paid aggregate cash finder's fees of CAD 2,200. All securities issued pursuant to the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. Tillkännagivande • Mar 10
Golden Shield Resources Inc. announced that it expects to receive CAD 2 million in funding Golden Shield Resources Inc. announced a non-brokered private placement to issue up to 8,000,000 units at a price of CAD 0.25 per Share for gross proceeds of CAD 2,000,000 on March 9, 2026. Each Unit will consist of one common share in the capital of the Company and one non transferable common share purchase warrant. Each Warrant will be exercisable to acquire one Share at a price of CAD 0.35 per Share for a period of 12 months from the date of issuance subject to an acceleration clause. All Warrants that remain unexercised following the Accelerated Expiry Date shall immediately expire and al rights of holders of such Warrants shall be terminated without any compensation to such holder. The closing of the Offering is subject to the receipt of all necessary regulatory approvals, including the approval of the CSE. All securities issued pursuant to the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. New Risk • Nov 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$528k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$528k free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$4.69m market cap, or US$3.35m). Tillkännagivande • Nov 25
Golden Shield Resources Inc., Annual General Meeting, Jan 22, 2026 Golden Shield Resources Inc., Annual General Meeting, Jan 22, 2026. Location: british columbia, vancouver Canada New Risk • Jul 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (46% average weekly change). Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.96m market cap, or US$2.91m). Tillkännagivande • Jun 27
Golden Shield Resources Inc. announced that it has received CAD 0.98945 million in funding On June 27, 2025, Golden Shield Resources Inc closed the transaction. The company announced that it has issued 6,596,333 common shares at a price of CAD 0.15 per Share, for gross proceeds of CAD 989,449.95. The transaction is oversubscribed. Securities issued under the Offering are subject to a statutory hold period which will expire four months and one day from the date of closing of the Offering. No finder's fees were paid on the Financing. Tillkännagivande • Jun 24
Golden Shield Resources Inc., Annual General Meeting, Aug 19, 2025 Golden Shield Resources Inc., Annual General Meeting, Aug 19, 2025. Location: british columbia, vancouver Canada Tillkännagivande • Mar 15
Golden Shield Resources Inc. Provides Update on Marudi Mountain Property and Corporate Initiatives Golden Shield Resources Inc. provided an update on its 100% owned flagship, 5,457-hectare Marudi Mountain gold project located southwestern Guyana project as well as the Company's corporate initiatives. Golden Shield has noted increased activity by miners operating within the Mazoa Hill Special Mining Permit ("MHSMP"), that is located within the Marudi Mountain Property. The MHSMP was granted for a five-year term that is due to expire in November 2026, at which time the Company's previously existing rights under its Prospecting License ("PL") will come back into effect. The MHSMP has a limited average depth of 48 meters that equates to an elevation of 376 meters above mean sea level, below which artisanal mining is prohibited. Golden Shield has been extremely proactive in striving to derive value for the Marudi Mountain Property and has received interest from several third parties. The Company is committed to this process as it awaits the fourth annual renewal of Marudi Mountain Project PL and has applied for an extension of the renewal process. Given market conditions, the Company has been operating under a restricted budget and has implemented a renewed round of cost cutting. Accordingly, the Company has withdrawn from all field activities at the Marudi Mountain Property while it reviews alternatives. Board Change • Jan 11
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Alison Redford is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Nov 30
Golden Shield Resources Inc. Auditor Raises 'Going Concern' Doubt Golden Shield Resources Inc. filed its Annual on Nov 28, 2024 for the period ending Jul 31, 2024. In this report its auditor, Smythe Ratcliffe, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Tillkännagivande • Oct 11
Tucano Gold Inc cancelled the acquisition of Golden Shield Resources Inc. (CNSX:GSRI) in a reverse merger transaction. Tucano Gold Inc. signed a letter of intent to acquire Golden Shield Resources Inc. (CNSX:GSRI) in a reverse merger transaction on July 22, 2024. The terms outlined in the LOI are preliminary and non-binding, and the Transaction is subject to, among other conditions, the parties successfully entering into a definitive agreement. The proposed Transaction is expected to be structured as a reverse takeover to be effected by way of a statutory plan of arrangement, share exchange or amalgamation, or such other structure as the parties may agree upon. Pursuant to the LOI, securities of Golden Shield will be consolidated on a ten for one basis and each shareholder of Tucano Gold will receive one common share of the Company (the "Golden Shield Shares") in exchange for each common share of Tucano Gold held by such shareholder (the "Tucano Gold Shares"). The foregoing exchange ratio implies a value of CAD 0.08 per Golden Shield Share and CAD 0.80 per Tucano Gold Share. Assuming completion of the proposed Transaction, and before additional equity financing is completed, the shareholders of Golden Shield and Tucano Gold would own approximately 12.9% and 87.1% of the common shares of the Company respectively, and the Company is expected to have approximately 55 million shares issued and outstanding based on the current capital structure of the Company and Tucano Gold. To facilitate this process, Golden Shield and Tucano Gold have agreed to negotiate exclusively for a period of 60 days following the date of the LOI and to complete due diligence and negotiate and enter into a Definitive Agreement. The LOI also contemplates other material conditions precedent to the closing of the Transaction, including customary due diligence, the negotiation and signing of a Definitive Agreement, receipt of all necessary regulatory, Canadian Securities Exchange (the "CSE"), corporate and third-party approvals, and all requisite board and shareholder approvals being obtained.
Tucano Gold Inc cancelled the acquisition of Golden Shield Resources Inc. (CNSX:GSRI) in a reverse merger transaction on October 11, 2024. Tillkännagivande • Jul 24
Tucano Gold Inc. signed a letter of intent to acquire Golden Shield Resources Inc. (CNSX:GSRI) in a reverse merger transaction. Tucano Gold Inc. signed a letter of intent to acquire Golden Shield Resources Inc. (CNSX:GSRI) in a reverse merger transaction on July 22, 2024. The terms outlined in the LOI are preliminary and non-binding, and the Transaction is subject to, among other conditions, the parties successfully entering into a definitive agreement. The proposed Transaction is expected to be structured as a reverse takeover to be effected by way of a statutory plan of arrangement, share exchange or amalgamation, or such other structure as the parties may agree upon. Pursuant to the LOI, securities of Golden Shield will be consolidated on a ten for one basis and each shareholder of Tucano Gold will receive one common share of the Company (the "Golden Shield Shares") in exchange for each common share of Tucano Gold held by such shareholder (the "Tucano Gold Shares"). The foregoing exchange ratio implies a value of CAD 0.08 per Golden Shield Share and CAD 0.80 per Tucano Gold Share. Assuming completion of the proposed Transaction, and before additional equity financing is completed, the shareholders of Golden Shield and Tucano Gold would own approximately 12.9% and 87.1% of the common shares of the Company respectively, and the Company is expected to have approximately 55 million shares issued and outstanding based on the current capital structure of the Company and Tucano Gold. To facilitate this process, Golden Shield and Tucano Gold have agreed to negotiate exclusively for a period of 60 days following the date of the LOI and to complete due diligence and negotiate and enter into a Definitive Agreement. The LOI also contemplates other material conditions precedent to the closing of the Transaction, including customary due diligence, the negotiation and signing of a Definitive Agreement, receipt of all necessary regulatory, Canadian Securities Exchange (the "CSE"), corporate and third-party approvals, and all requisite board and shareholder approvals being obtained. Board Change • Apr 17
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Alison Redford is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Feb 03
Golden Shield Resources Inc., Annual General Meeting, Apr 15, 2024 Golden Shield Resources Inc., Annual General Meeting, Apr 15, 2024. Tillkännagivande • Feb 01
Golden Shield Resources Inc. Provides Drilling Update At Mazoa Hill Deposit Golden Shield Resources Inc. announce additional results from its reverse circulation drill campaign at the Marudi Mountain Property. The Company has now received all results from the RC drilling campaign and will use these to inform targeting in the ongoing diamond drilling program. The Company is also pleased to provide an update on the ongoing deep drillhole that is actively being drilled at the Mazoa Hill deposit. The Company has now received results for all of the 2,040 metres in 47 RC drill holes at Pancake Creek. Preliminary results suggest high-grade gold mineralization from surface, in two corridors that trend in a northwest-southwest direction. Most notably, drilling intersected 20 metres at 1.45 g/t Au in hole PC-23-109, to the west of the main drilling trend. The high-grade gold results are constrained to the mineralized Ferruginous Quartzie unit. At this time, the extent, width, and depth of the two emergent zones at Pancake Creek have not been fully constrained due to the shallow nature of shallow the RC drilling. However, the 20 m intersection of mineralized FQ encountered in hole PC-23-109 represents a new discovery of FQ at Marudi that is being followed up with drill testing. Currently, one diamond drill hole, PAN24-41 has been completed to 102 metres in the area and a second drill hole, PAN24-42, is being collared. The results found at the bottom of hole PC-23-108 and throughout hole PC-23-109 define a zone of near-surface high-grade gold. Diamond drilling will focus on expanding this to depth and laterally. These results in the western section of Pancake Creek, represent the longest continuous intercept of gold mineralization encountered in Golden Shield's RC drilling campaign. The anomalous areas in the western part of Pancake will also be diamond drill tested. Drilling at the Mazoa Hill Deposit commenced on January 13, 2024. Unfortunately, the initial hole deviated laterally to the east well beyond the planed limits and passed through the FQ contact into volcanic wallrock at 367 metres and was terminated at 417 metres. Despite not achieving its target, this hole passed through areas of sparse drilling in the upper part of the Mazoa Hill deposit and will provide useful geological information on structure and mineralisation controls. A new hole is being planned that incorporates a larger degree of planned deviation and this will be drilled following completion of the Pancake Creek program. Diamond drill targeting is ongoing, with preliminary diamond drill holes being planned for Marudi North, and Pancake Creek. Marudi North has seen limited historical diamond drilling but displays high-grade gold intercepts that occur in the same mineralized FQ unit that hosts mineralization across the property. The historic intercepts at Marudi North will be followed up to confirm the existence historical mineralization and confirm the extent of the favourable FQ unit. Pancake Creek has not seen any historical diamond drilling. The prospect has only become a recent focus of the Company after its discovery from preliminary fieldwork, trenching, and the RC-drilling reported in this news release. Both Marudi North, and Pancake Creek occur within 500 m of each other, and the Company believes they have the potential to connect. Tillkännagivande • Jan 24
Golden Shield Resources Inc. Commences Marudi Mountain Diamond Drilling Campaign with Deep Hole At Mazoa Hill Golden Shield Resources Inc. announced that it has commenced a fully-funded diamond drill program at the Marudi Mountain Property. The first hole of the diamond drilling program will test the vertical extent of the steeply plunging high-grade gold "ore" shoot at Mazoa Hill and from there move to testing new high-potential exploration targets, starting with Pancake Creek. The Company is still receiving and processing results from December's reverse circulation drill program from Pancake Creek and elsewhere. These results will be released and incorporated into exploration plans as they are available. Details of the Mazoa Hill deep hole are provided in the Company's news release dated January 15, 2024. The diamond drill hole is currently at approximately 290 metres depth. Tillkännagivande • Jan 15
Golden Shield Resources Inc. Announces January Diamond Drilling Campaign At Mazoa Hill and Provides Exploration Update Golden Shield Resources Inc. announced that it will commence a fully-funded diamond drill program at the Marudi Mountain Property in mid-January 2024. The first hole of the diamond drilling program will test the vertical extent of the steeply plunging high-grade gold "ore" shoot at Mazoa Hill and from there move to testing new high-potential exploration targets, starting with Pancake Creek. The Company is still receiving and processing results from December's reverse circulation ("RC") drill program from Pancake Creek and elsewhere. These results will be released and incorporated into exploration plans as they are available. Over 30,000m of drilling has taken place at Mazoa Hill, intersecting high grade gold mineralization to a vertical depth of approximately 400m with hole MH-23-33 (13.70m grading 2.28 g/t gold including 3.00m grading 7.64 g/t gold), the final hole of Golden Shield's 2022 diamond drill program. Golden Shield has systematically stepped out and traced the high grade "ore" shoot to approximately 180m beyond the previous pit limiting shell and the mineralization remains open below the base of all drilling at a vertical depth of approximately 400 m. As depth to the target increases below this, the drill cost to test it for each intercept in step out drilling becomes progressively more expensive. In order to extend mineralization and for a number of geological reasons, Golden Shield has decided to drill a deep hole, up to 950m deep, targeting the axis of high-grade gold mineralization. The maximum depth is limited by the drill rods available at site, so Golden Shield has asked the Canadian drill contractor to ship additional drill rods to site. Golden Shield has completed three phases of diamond drilling in 2021 and 2022, totaling over 9,000 m. The Company has had significant past drilling success at Mazoa Hill, including the following highlights: 50 m at 9.10 g/t Au in MH-21-04; 9.75 m at 11.9 g/t Au MH-21-03; 43 m at 1.39 g/t Au MH- 21-02; 33.2 m at 3.45 g/t Au MH-22-16; 31 m at 7.58 g/t Au MH- 22-21; 10 m at 4.59 g/t Au MH- 2022-18. The 2021 and 2022 drill programs at Mazoa Hill confirmed that mineralization extends beyond the historical resource both laterally and at depth. The excellent drilling results from the previous drilling program, with 101 holes completed in 2023, totaling 5,588 metres. The aim of the drilling campaign is to target newly discovered zones and establish continuity of mineralization laterally with the ultimate goal to follow up with an expanded diamond drill-program on defined targets. The aim of the drilling campaigns is to target newly discovered zones. The first hole of the drilling campaign is to targets newly discovered zones and establish continuity the mineralization laterally with the final goal to follow up with an expand diamond drill-program on defined target. The aim of the drilling program is to target newly discovered zones, establish continuity of mineralization laterically with the ultimate goal to followup with an expanded diamond drill- program on defined targets. The aim to target newly discovered zones and establishing continuity of mineralization laterally and at depth. Tillkännagivande • Nov 30
Golden Shield Resources Announces Diamond Drilling in Early January At Mazoa Hill and Provides Exploration Update Golden Shield Resources Inc. announce that it will commence a fully-funded diamond drill program at the Marudi Mountain Property in early January of 2024. The diamond drilling campaign will focus on exploration to allow the Company to prepare a current mineral resource estimate at the Mazoa Hill target on the Property and testing new high-potential exploration targets. The Company is also pleased to provide an exploration update on the ongoing Reverse Circulation drill program that is being completed across the Property. The 2022 exploration program confirmed that mineralization extends beyond the historical resource both laterally and at depth. The drilling results from the previous drill campaigns have not been incorporated in the historical resource. Therefore, the upcoming diamond drill program at Mazoa Hill, slated for early January 2024, will definitively determine the vertical extent of gold mineralization at Mazoa Hill. The diamond drill is already on site and a consultant is being retained to assist in preparing a current mineral resource estimate in 2024. Golden Shield geologists and an external consultant have been reviewing Mazoa Hill data, reviewing drill core and working to identify the most cost-effective way to explore this high-grade deposit and prepare a current mineral resource estimate. A total of 91 reverse circulation drillholes, totaling 4,597 metres have now been completed at Marudi. The drillholes have an average depth of 51 metres. Shallow RC drilling is a cost-effective way of targeting the high-grade gold showings hosted in the gold-bearing Ferruginous Quartzite (FQ). The RC drilling program is designed to delineate the extent of the mineralized FQ unit under saprolite cover at Marudi. RC drilling eliminates the need to conduct blind drilling and provides a preliminary understanding of mineralization potential exploration targets. The RC drilling campaign has been critical in de-risking exploration targets across the Property, in preparation for possible diamond drilling. The RC drilling campaign has focused on three main exploration targets: Marudi North, IP-6 and Pancake Creek. To date, all results have been returned for drilling at the Marudi North and IP-6 prospects. Results for five drill holes, totaling 258 m have now been returned for Pancake Creek. Results are waited for an additional 21 drillholes, totaling 1,026 metres. A total of 21 RC drillholes, totaling 1,896 metres, have been completed on the Pancake Creek prospect. Results for 5 drillholes, totaling 258 metres, have now been returned. Preliminary results have yielded high-grade gold results from surface, that trend in a NW-SW direction. The high-grade gold results are constrained to the mineralized FQ unit. At this time, the extent, width, and depth of the Pancake Creek prospect have not been constrained. Additional RC drilling is planned to target the newly discovered zone and establish the continuity of mineralization laterally and to depth. A total of 39 RC drillholes, totaling 2,051 metres, were completed on the Marudi North RC drill grid. All RC drill results have now been returned for the Marudi North Prospect. Marudi North continues to show shallow (<50 m deep) high-grade gold intercepts. The targets trend in a NW-SE direction and are hosted by a shallow FQ-body with an apparent southwest trending dip. Marudi North remains a high-priority exploration target and is in proximity (~350 m) to the Pancake Creek exploration prospect. RC Drilling at IP-6 targeted a large Induced-Polarization anomaly, that had an apparent correlation with surficial exposures of FQ. 31 RC drillholes totaling 1529 m have been completed (Figure 3). This area is 250 m from the Mazoa Hill Deposit. Drilling has intersected a high-grade mineralized corridor that trends NW-SE, and can be traced over an apparent distance of 160 m. The mineralized zone has an apparent width of 1-4 m. However, the continuity and true width of the zone has not yet been defined. Additional trenching, and/or RC drilling will be planned to establish the continuity, trend, and scale of the prospect. However, currently, the correlation of high chargeability signatures with known exposures of FQ is uncertain. Tillkännagivande • Nov 13
Golden Shield Resources Inc., Annual General Meeting, Jan 18, 2024 Golden Shield Resources Inc., Annual General Meeting, Jan 18, 2024. Tillkännagivande • Oct 20
Golden Shield Resources Inc. Drills 7 m at 7.50 g/t Au and 15 m at 0.94 g/t Au from Reverse Circulation Drilling at the Marudi North Prospect Golden Shield Resources Inc. announced initial results from the ongoing reverse circulation drill campaign at the Company's flagship Marudi Mountain gold project located in southwestern Guyana. Assays from the first 39 drillholes are reported herein. The Company is pleased to also provide an update on the next stages of the RC drill program. The goal of the RC drill campaign at the Marudi Mountain Property is to acquire an understanding of the shallow subsurface geology beneath the saprolite cover. Specifically, the Company seeks to explore the Marudi Mountain Property for the favourable gold-bearing, Ferruginous Quartzite ("FQ"), lithology that is the primary host of mineralization across the property. Drill depths currently vary between 22-79 m, with holes having an average depth of 52.5 m. The RC drill campaign is designed to have 140 drillholes completed across three prospects: Marudi North (completed), IP-6 (current), and Pancake Creek. With 51 holes of the planned 140 drillholes now drilled, Golden Shield has completed approximately 36% of the planned meters for RC drill program. A total of 39 RC drillholes, totaling 1939 m, have now been completed at the Marudi North exploration target. Previous operators recognized the existence of gold-bearing FQ unit at the Marudi North prospect; however, Golden Shield RC drilling has helped to define a large package of prospective FQ to the southwest of historical drillholes. This enlarges the current footprint of the Marudi North prospect to an approximate extent of 100 x 100 m and proves the continuity of the gold bearing horizon to the SW-of its previously known extent. Downhole geochemical data is currently being consolidated to allow for future diamond drill targeting, with the aim of progressing the prospect to the diamond drilling stage. A total of 12 RC drillholes, totaling 726 m, have now been completed at the IP-6 exploration target. The drilling at IP-6 is targeting previously unrecognized exposures of the FQ host unit, that were discovered as a result of the Induced Polarization (IP) survey conducted at the Marudi Mountain Property (see the Company's news release dated August 14, 2023). Currently, no results from the first 12 drillholes have been returned. An additional 18 RC holes are expected to be completed at the exploration target to delineate the extent of the FQ unit. IP-6 is within 200 m of the Mazoa Hill deposit. Drilling will commence at Pancake creek with the RC drill rig following the completion of the RC drilling grid at IP-6. The Pancake Creek target has never been drilled; however, the prospect has seen extensive sampling by Golden Shield (see the Company's news release dated September 26, 2023). This area shows a high proportion of high-grade gold mineralization, with 94 of 478 grab samples returning values >1 g/t Au, and 115 of 478 grab samples grading above 0.5 g/t Au, with values as high as 28.4 g/t Au. Mineralization at Pancake Creek is hosted in the same distinctive FQ unit that hosts gold at other prospects on the Marudi Mountain Property, including Marudi North and the Mazoa Hill deposit. Golden Shield is committed to advancing the Marudi Mountain Property through iterative and focused exploration. The Company has a structured plan to advance the highest rated exploration targets to diamond drill stage. Over the past year, the 10 most advanced exploration targets have undergone extensive boots-on-the-ground exploration work including extensive sampling and mapping. Nine of the ten exploration targets have now undergone mechanical trenching. Two of the ten exploration targets have now undergone RC drilling, with RC drilling planned on additional prospects. Diamond drilling at the Mazoa Hill deposit, and additional targets is expected in First Quarter 2024. For the status of each individual prospect. New Risk • Oct 19
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 Less than 1 year of cash runway based on free cash flow trend (-CA$6.0m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$11.9m market cap, or US$8.67m). Tillkännagivande • Sep 27
Golden Shield Resources Inc. Commences Rc Drilling At Marudi Mountain and Updates Surface Sampling Results Golden Shield Resources Inc. reported on progress at its 100% owned flagship, 5,457-hectare, Marudi Mountain gold project located in southwestern Guyana. The Company announced that Reverse Circulation ("RC") drilling has now commenced at Marudi North, and that 37 holes, colared on a pre-planned grid, have been completed to date. In addition, three trenches have been completed since the Company's August 28, 2023 news release and 269 sample results are awaited from these. Mapping and sampling work is continuing on an ongoing basis. Mapping and sampling work are continuing on an ongoing basis. The Archaean host rocks are interpreted to have been cut by late feeder structures channelling gold bearing fluids which react with the iron bearing host to deposit gold, often in fold hinges or shear zones. Marudi is hosted in the Kwitwaro group metasediments of the southern Guyana greenstone belts. This, combined with the Company's relationships in the area, uniquely positions Golden Shield's relationships in the area, specifically positions Golden Shield's relationship in the area. Trench TMN-23-70 (135m) - 92m of FQ with veinlets, disseminated pyrite up to 3% and visible gold at one location. 96 continuous channel samples with an average length of 1m have been received so far and contains 3m grading 4.90 g/t gold and 7m grading 1.69g/t gold, including 3m grading 3.02 g/t gold.TMN-23-71 (124m) - 65m of FQ with veinlet, stockworks and disseminated pyrite up To 5%. Assay results from all continuous chip samples are pending. At Marudi North 237 selective grab samples have been taken and, of these, 128 assayed more than 0.5g/t gold, of which 112 returned values of more than 1g/t gold, with grades reaching 37.6 g/t gold. At Pancake Creek 478 selective grab samples have now been collected by Golden Shield geologists on north-south oriented, 100m spared gridlines. Of these 13 assayed more than 0. 5g/t gold, ofwhich 11 returned values of more than 1 g/t gold, with grades reach 5.6 g/t gold). Next Steps: RC drilling. Once drilling at Marudi North is complete RC drilling will commence on a pre-planned grid at the IP-6 target. Diamond drilling. In late October or early November, when results of the RC drilling have been received, Golden Shield will commence diamond drill testing the best of the RC anomalous areas. Results should be available in October and continue flowing to the end of fourth quarter 2023. The Archaean host rocks is interpreted to have been cut by early feeder structures channelling Gold bearing fluids which react with the Iron bearing host to deposit gold, many in fold hinges or shear zone. Marudi is hosted in The Kwitwaro group metases of the southern Guyana green stone belts. This, combined with The Company's relationships in the area. This, combined with the company's relationships in the area, unique positions Golden Shield's relationships in The Company's relationships in the areas, uniquely positions Golden Shield's relationship in its area, uniquely positions Golden Shield and its relationships in the area. Tillkännagivande • Aug 17
Golden Shield Provides Update on Exploration Results and Planned Drilling At the Marudi Mountain Property Golden Shield Resources Inc. announced exploration results at its 100% owned flagship, 5,457-hectare, Marudi Mountain gold project located in southwestern Guyana. The Company reported results from mapping and geological interpretive work at the Marudi Mountain Property which was conducted by Specialized Geological Mapping. In addition, the Company reports results of the reinterpretation of a 25 km2 Induced Polarization ("IP") and resistivity survey conducted by Arce Geofísicos S.A.C. and the 2018 helimagnetic survey conducted by GeophysicsOne Inc. It is important to note that the 2018 helimag survey at the Marudi Mountain Property was completed once drilling by the previous operator had ceased. Golden Shield is the first company to have this geophysical data available to guide drilling at the Marudi Mountain Property. Additionally, surface trenching, pitting, mapping, and sampling has taken place with the collection of over 2,000 rock samples. In 2022, the Company completed approximately 9,000m of drilling on the Marudi Mountain Property and extended high-grade mineralization below the base of the historic resource constraining pit by 180m, with the best intercept being 50 meters grading 9.10 g/t gold. In addition, the Company has completed the purchase of a dual-purpose Air Core ("AC") and Reverse Circulation ("RC") drill rig from Multi-Power Products Ltd., based in Kelowna, BC, Canada. This drill rig will be used to penetrate through the saprolite cover and test fresh bedrock in a grid pattern to validate drill targets before testing with the more expensive diamond drill rig that is located on site. Board Change • Jul 31
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO, President, Director & Co-Founder Hilbert Shields is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Jun 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.9m (US$9.76m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$6.0m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (132% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$12.9m market cap, or US$9.76m). Minor Risk Less than 3 years of financial data is available. Tillkännagivande • Dec 23
Golden Shield Resources Inc., Annual General Meeting, Jan 25, 2023 Golden Shield Resources Inc., Annual General Meeting, Jan 25, 2023, at 09:00 Pacific Standard Time. Location: Suite 700,1090 West Georgia Street, Vancouver, British Columbia Vancouver Canada Agenda: To consider fix the number of directors of the company at five persons; to consider elect five directors of the company for the ensuing year; to consider appoint Smythe LLP as the company's auditor for the ensuing year and authorize the directors to determine the remuneration to be paid to the auditor; to consider ratify and confirm the company's stock option plan, as more particularly described in the accompanying information circular; to consider transact such other business as may properly be put before the Meeting. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Jane Richardson was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Nov 08
Golden Shield Drills 13.40M Grading 12.24 G/T Gold and Another 13.40M Grading 2.54 G/T Gold Further Extending Mineralization At Mazoa Hill Golden Shield Resources Inc. announced assay results from three holes from the Company's ongoing Phase III drill program at its 100% owned flagship, 5,457-hectare Marudi Mountain gold project located southwestern Guyana (the "Marudi Mountain Property"). The Phase III drill program comprises approximately 3,000m, with six holes designed to test the southern and depth extension of the Mazoa Hill Deposit and five drill holes dedicated to testing the July and Throne targets. The six recently completed diamond drill holes at Mazoa Hill targeted strike and down-plunge extensions of a high-grade zone or "shoot" identified by Golden Shield's Phase I and II drilling. Historical drilling did not recognize the strike or vertical extent of this shoot. The high-grade shoot is hosted in a broader envelope of "quartzite-metachert" (QMC) which is interpreted as a strongly silicified shear zone along the contact between amphibolite schist and mica schist. Drill holes MH-22-28, MH-22-29 are approximately 50m apart on section and were drilled to test the down-plunge extension of the high-grade shoot at Mazoa Hill. The two holes stepped out 50m to the southeast of hole MH22-21 which intersected 31m grading 7.58 g/t gold. Hole MH-22-28 intersected three zones: 13.40m grading 12.24 g/t gold from 285.00m at the lower contact of the QMC unit. 3.00m grading 4.23 g/t gold from 259.80m also at the lower contact of the QMC unit and, 19.60m grading 1.06 g/t gold from 194.00m in a newly identified zone above the main QMC unit; Hole MH-22-29 intersected three zones within the main QMC unit: 9.00m grading 2.01 g/t gold from 194.00m at the upper QMC contact. 13.40m grading 2.54 g/t gold from 315.70m including 6.00m grading 4.93 g/t gold from 315.70m. 4.30m grading 8.68 g/t gold from 337.40m at the lower contact of the QMC unit. All intercepted zones remain open at depth and along strike, to the southeast. MH-22-30 was designed to test the depth extension of mineralization approximately 50 meters vertically below hole MH-22-21, in the central part of the deposit. The hole intersected approximately 50 meters of QMC host lithology, but did not return significant grades from this area, perhaps suggesting a base to, or fault offset, to the high-grade zone, closing off the mineralized lens at depth on this section. The Mazoa Zone intersected by Holes MH-22-28 and MH-22-29 remain open to depth and along strike to the south and will be a focus of next drill campaign. With results from the first three of six holes at Mazoa Hill now complete, assays from three remaining holes drilled at Mazoa Hill, MH-22-31, MH-22-32 and MH-22-33 remain to be received. Drilling is currently focused on July and Throne Prospects. Both the July and Throne prospects display the same QMC host-rock that hosts gold mineralization at Mazoa Hill and occur along strike to the south of the Mazoa Hill deposit, forming a 1.8 kilometre long trend. Property exploration is ongoing at the Marudi Mountain property. Auger sampling work that has been ongoing for months, in, addition to Induced Polarization (IP) Survey is being implemented across approximately 25 square kilometres covering the Mazoa-Throne-July trend. Furthermore, Specialized Geological Mapping has been contracted to assist with geological modelling and generation of additional drill targets with a geologist on site for most of November. All Golden Shield sample assay results have been independently monitored through a quality control /quality assurance ("QA/QC") protocol which includes the insertion of blind standards, blanks as well as pulp and reject duplicate samples. Logging and sampling are completed at Golden Shield's core handling facility located at the Marudi property. Drill core is diamond sawn on site and half drill-core samples are securely transported to Actlabs Guyana Inc. ("Actlabs") sample preparation and analysis facility in Georgetown, Guyana. Samples are crushed and pulverised and a 50 gram charge is analysed by Fire Assay with gravimetric finish. Golden Shield is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. ACTLABS Laboratories is independent of Golden Shield. Tillkännagivande • Sep 21
Golden Shield Commences Phase Iii Drilling At Marudi Mountain to Extend Mineralization At Mazoa Hill and Test New Exploration Targets Golden Shield Resources Inc. 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. The primary objective of the 3,000 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. 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. 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. Tillkännagivande • Sep 14
Golden Shield Resources Inc. Announces Assay Results from the Final Four Holes of the Eleven-Hole 3,100 Metre Phase Two Drill Program Golden Shield Resources Inc. (CSE: GSRI) (FRA: 4LE0) (the "Company" or "Golden Shield") announced 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. The next (third) phase of drilling will target the down-dropped extension of the Main Zone, as shown in. Since June, Golden Shield geologists at Marudi have been conducting an ongoing trenching program to develop new prospects and advance these and existing prospects to drill stage. A total of 2,010m in 17 trenches have been excavated and 505 continuous chip samples have been taken from bedrock, for which results from 340 samples have been received. Mapping and grab and channel sampling of outcrops and float material has also been ongoing. This work has increased the number of prospects, with favourable QMC host rock at surface, from eight to 13. All of these prospects are summarized in Table 2. Trenching has mainly focused on two areas, the new prospects of Throne and July. These prospects appear to form a north-northwest to south-southeast oriented, 1.9 kilometre trend that is coincident with a ridge. The ridge may be indicative of resistive weathering resulting from the comparatively hard QMC lithology. Company geologists are currently exploring for additional QMC in this trend, primarily by trenching, to establish whether these zones could be continuous and to extend it further to the north and south. Further exploration outside of these areas is required to gain an understanding of the full extent and mineral potential of the unexplored portion of the project. Results for Throne are compiled in. Trenching at the Throne target has uncovered QMC over a maximum strike length of approximately 230m and a maximum width of approximately 150m. This compares with a width of 55m and an outcropping strike of 120m at Mazoa Hill. At throne, the saprolite is thought to be the weathered expression of the metavolcanic and metasedimentary units that envelope the QMC. The competent, resistive QMC unit displays cubic boxworks after pyrite suggesting gold values at surface may have been depleted by leaching. Results for July are compiled, and at this prospect QMC has now been mapped as three lenses over a strike length of approximately 500 m (still open), and a maximum width of approximately 100m. The full extent of the QMC unit is unknown at this time. The QMC unit at July also has a larger areal extent than Mazoa Hill,. At July also, the saprolite is thought to be the weathered expression of the metavolcanic and metasedimentary units that envelope the QMC and a quartz feldspar porphyry intrusion occurs in the north of the prospect. Here also, the QMC unit displays cubic boxworks after pyrite suggesting gold values at surface may have been depleted by leaching. Golden Shield is planning to commence drilling in mid-September and continue until the Christmas break. Drilling will initially target the southern extension of Mazoa Hill followed by a drill test of the Throne and July prospects as results from Mazoa are awaited, and then return to Mazoa or additional move to test other targets resulting from the ongoing exploration work described below. Trenching and surface work will also continue through this period, utilizing the Company's two excavators at site. Additional to this an extensive structural mapping program is planned, as well an Induced Polarization ("IP") survey. The IP survey will determine whether gold bearing sulphides underlying leached rocks at surface can be detected and mapped remotely. If successful, this will be an important tool in defining and ranking future drill targets. Tillkännagivande • Jul 06
Golden Shield Resources Inc. announced that it has received CAD 6.28845 million in funding On July 5, 2022, Golden Shield Resources Inc. closed the transaction. The company issued 14,624,302 units for gross proceeds of CAD 6,288,450 in the transaction. The company partially exercised its agent's over-allotment option. The securities issued in the transaction will be subject to a hold period of 6 months and one day and will expire on November 6, 2022. Tillkännagivande • Jun 10
Golden Shield Resources Inc. announced that it expects to receive CAD 6 million in funding Golden Shield Resources Inc. announced a best efforts brokered private placement of up to 10,909,090 units at a price of CAD 0.55 per unit for gross proceeds of CAD 6,000,000 on June 9, 2022. The company has agreed to grant to the agent an option to sell up to an additional1,636,364 units at the offering price, exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the offering to cover overallotments, if any. If the overallotment option is exercised in full, an additional CAD 900,000 (approximately) in gross proceeds will be raised pursuant to the offering, and the aggregate gross proceeds of the offering will be approximately CAD 6,900,000. Each unit consists of one common share and one-half of one share purchase warrant. Each warrant will entitle the holder to acquire one additional share at a price of CAD 1 per share for a period of 24 months from the date the units are issued. Warrants are further subject to an acceleration clause, subject to accelerated expiry in the event the common shares trade at a 5-day volume-weighted average trading price at or above CAD 1.10. The company has the right to accelerate the warrants for exercise within 21 days of an exercise notice. All securities to be issued will be subject to a hold period of four months and one day from the closing date. The transaction is subject to all necessary approvals, including that of the board and the Canadian Securities Exchange. The offering is scheduled to close on or about June 28, 2022. Tillkännagivande • Jun 02
Golden Shield Resources Inc. announced that it expects to receive CAD 4.4 million in funding Golden Shield Resources Inc. announced a non-brokered private placement of up to 8,000,000 units at a price of CAD 0.55 per unit for gross proceeds of CAD 4,400,000 on June 1, 2022. Each unit consists of one common share and one-half of one share purchase warrant. Each warrant will entitle the holder to acquire one additional share at a price of CAD 1 per share for a period of 24 months from the date the units are issued. Warrants are further subject to an acceleration clause, subject to accelerated expiry in the event the common shares trade at a 5-day volume-weighted average trading price at or above CAD 1.10. The company has the right to accelerate the warrants for exercise within 21 days of an exercise notice. All securities to be issued will be subject to a hold period of four months and one day from the closing date. The transaction is subject to all necessary approvals, including that of the board and the Canadian Securities Exchange. Tillkännagivande • May 12
Golden Shield Resources Inc. Drills 33 Metres Grading 3.45 G/T Gold At Mazoa Hill, Marudi Golden Shield Resources Inc. announced the drill results from the initial hole of a 13-hole, 3,000 metre program at Mazoa Hill, the most advanced of eight prospects at the Company's flagship, 5,457-hectare, Marudi Mountain gold project located in the Rupununi District of southwestern Guyana (the "Marudi Project"), Golden Shield is currently drilling the ninth hole of the Company's 3,000 metre, 13-hole Phase 2 drill program at Mazoa Hill. Results of the first hole, MH-22-16. while results for the other eight holes that have been completed are pending. Drilling of the remaining four holes of the program is progressing and will be finished before the end of this month. Golden Shield interprets gold mineralization to occur in a series of en-echelon high grade shoots defined by intense silicification within a broader silicified zone, previously described as quartzite-metachert (QMC). In these areas silica flooding is associated pyrite pyrrhotite and native gold. Hole MH-22-16 confirms Golden Shield's reinterpretation of the geology of Mazoa Hill with a lower mineralised limb folding gently to the west. The reinterpretation of the geology shows that mineralization continues into an area that was entirely undrilled by previous operators. Following the completion of the Phase 2 drill program Company geologists and field crews will focus on advancement of the existing prospects to drill stage, if merited, and exploration for additional prospects. Once results from Phase 2 drilling are received and additional drilling will be planned. Tillkännagivande • Apr 13
Golden Shield Drills 4.84 Gpt Gold over Six Metres and 2.58 Gpt over Seven Metres in First Holes At Toucan Creek Golden Shield Resources Inc. announced results of six initial diamond drill holes totalling 848 metres that were drilled at the Toucan Creek area, one of eight prospects at the Company's flagship, 5,457-hectare, Marudi Mountain gold project located in the Rupununi District of southwestern Guyana. This first round of drilling at Toucan Creek intersected multiple intervals in four of the six holes drilled. All reported intervals are hosted within quartzite-metachert ("QMC"), which is also the host rock to gold mineralization at Mazoa Hill. Golden Shield geologists were drawn to the area by outcrops of QMC that are visibly mineralised with oxidised pyrite returning anomalous gold values in surface sampling. Tillkännagivande • Mar 30
Golden Shield Resources Inc. Recommences Drilling at Mazoa Hill, Marudi Golden Shield Resources Inc. announced that it will recommence (Phase 2) drilling at the Mazoa Hill this week. Mazoa Hill is one of eight prospects at the Company's flagship, 5,457-hectare, Marudi Mountain gold project located in the Rupununi District of southwestern Guyana (the "Marudi Project"). Phase Two drilling will be conducted by one drill rig over six weeks and comprise approximately 2,000 metres in six to seven holes. Additionally, Phase Two drilling will increase the Company's understanding of the geometry of the high-grade zones encountered in the last Phase of drilling, including 50m grading 9.10g/t gold intersected in Hole MH-21-04. The Company is still awaiting drill results from the Toucan Creek prospect where results from six holes (848 metres) drilled during the Phase 1 drill campaign are pending. Additional results are pending from trenching at Toucan Creek and three other prospects (Kimberley, Success Creek and Throne), that are comprised of nine trenches excavated with approximately 510 continuous trench samples taken over a total length of approximately 800 metres and additionally approximately 430 rock chip reconnaissance samples. Tillkännagivande • Feb 24
Golden Shield Provides Update on Exploration Activities at Marudi Project Golden Shield Resources Inc. announced that it has completed an initial drill program consisting of 2,364 metres of diamond drilling in 13 drill holes at the Company's Marudi Mountain gold project. The Marudi Project, located in the Rupununi District of southwestern Guyana, covers 5,457 hectares. Exploration activities at the Marudi Project can be conducted year-round. Gold mineralization at the Marudi Project is hosted in Proterozoic greenstones and occurs within a distinctive quartzite unit. Samples from the Initial Drill Program have been submitted to Activation Laboratories Ltd. in Guyana, and the Company expects to disseminate results in the coming weeks. As part of the Initial Drill Program, seven holes (1,516 metres) were drilled at the Mazoa Hill zone of the Marudi Project. The Company's geologists interpret mineralization at Mazoa Hill to occur in a series of en-echelon zones and recent drilling infilled areas of sparse drilling within these, as well as stepping out into the footwall to the east. A historical mineral resource estimate on Mazoa Hill1 specified total indicated resources of 259,100 ounces of gold and inferred resources of 86,200 ounces of gold1,2. A qualified person has not done sufficient work to classify the Historical Resource Estimate as a current resource and the Company is not treating the Historical Resource Estimate as a current resource. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the Historical Resource Estimate can be classified as a current resource. The Historical Resource Estimate was based on approximately 63 drillholes that intersected a northwest striking, steeply dipping mineralized quartzite unit over a strike length of approximately 300 metres. As part of the Initial Drill Program, six holes (848 metres) were drilled at the Toucan Creek zone of the Marudi Project where no previous drilling had taken place. Here, a similar quartzite to that at Mazoa Hill is exposed at surface and 19 recent grab samples taken over an area of 25m x 20m returned 13 values above 1.50g/t gold, with a highest value of 15.94g/t gold and an average of 4.26g/t gold. At Toucan Ridge, which is located approximately 400 metres to the northeast of Toucan Creek, four historical trenches3, TTR-18-5, TTR-18-7, TTR-18-8 and TTR-18-9 returned the results3,4. The Company plans to test the area connecting Toucan Creek and Toucan Ridge by completing trenching and drilling. 
