Goldshore Announces Name Change to Gold X2 Mining, Appointment of Tom Obradovich to the Board of Directors, Corporate Update and Management Transition
Gold X2 Mining (OTCQB: GSHRF), formerly Goldshore Resources, announces significant corporate changes and updates. The company appointed industry veteran Tom Obradovich to its Board of Directors, bringing 42 years of mining expertise, notably from successful ventures like Aurelian Resources and Young-Davidson mine development.
Key developments include an upcoming Preliminary Economic Assessment (PEA) in Q4 2025, incorporating data from 21,329 meters of new drilling and 15,972 meters of re-assayed historical core. The company is executing a 50,000-meter drill program through Q1 2026 and has completed the repurchase of a 1% NSR from Wesdome Gold Mines. Additionally, CFO Erica Borgstrom will step down, with Juciane Gomes Goncalves assuming the interim CFO role effective September 30, 2025.
Gold X2 Mining (OTCQB: GSHRF), in precedenza Goldshore Resources, annuncia importanti cambiamenti societari e aggiornamenti. Il consiglio di amministrazione ha accolto il veterano del settore Tom Obradovich, con 42 anni di esperienza mineraria, noto per successi come Aurelian Resources e lo sviluppo della miniera Young‑Davidson.
Tra gli sviluppi principali: una Preliminary Economic Assessment (PEA) prevista per il Q4 2025, che integrerà i dati di 21.329 metri di nuovi fori e 15.972 metri di carote storiche rianalizzate. La società sta portando avanti un programma di perforazione da 50.000 metri fino al Q1 2026 e ha completato il riacquisto di un NSR dell'1% da Wesdome Gold Mines. Inoltre, la CFO Erica Borgstrom lascerà il suo incarico e Juciane Gomes Goncalves assumerà il ruolo di CFO ad interim a partire dal 30 settembre 2025.
Gold X2 Mining (OTCQB: GSHRF), anteriormente Goldshore Resources, anuncia cambios corporativos significativos y actualizaciones. La compañía incorporó al veterano de la industria Tom Obradovich a su junta directiva; cuenta con 42 años de experiencia en minería y es reconocido por proyectos exitosos como Aurelian Resources y el desarrollo de la mina Young‑Davidson.
Los hitos clave incluyen una Preliminary Economic Assessment (PEA) prevista para el Q4 de 2025, que integrará datos de 21.329 metros de perforación nueva y 15.972 metros de núcleo histórico reanalizado. La empresa está ejecutando un programa de perforación de 50.000 metros hasta el Q1 de 2026 y ha completado la recompra de un NSR del 1% a Wesdome Gold Mines. Además, la CFO Erica Borgstrom dejará su puesto y Juciane Gomes Goncalves asumirá como CFO interina a partir del 30 de septiembre de 2025.
Gold X2 Mining (OTCQB: GSHRF), 이전 명칭 Goldshore Resources, 주요 회사 변경 사항과 업데이트를 발표했습니다. 이사회에 업계 베테랑 Tom Obradovich가 합류했으며, 그는 Aurelian Resources 및 Young‑Davidson 광산 개발과 같은 성공 사례를 포함해 42년의 광산 경력을 보유하고 있습니다.
주요 내용으로는 2025년 4분기 예정인 Preliminary Economic Assessment (PEA)가 있으며, 여기에는 21,329미터의 신규 시추와 15,972미터의 재분석된 과거 코어 데이터가 반영됩니다. 회사는 2026년 1분기까지 50,000미터 시추 프로그램을 진행 중이며 Wesdome Gold Mines로부터 1% NSR을 재매입을 완료했습니다. 또한 재무책임자(CFO) Erica Borgstrom가 물러나고 Juciane Gomes Goncalves가 2025년 9월 30일부터 임시 CFO로 임명됩니다.
Gold X2 Mining (OTCQB: GSHRF), anciennement Goldshore Resources, annonce des changements et mises à jour importantes au sein de l'entreprise. Le conseil d'administration a accueilli le vétéran du secteur Tom Obradovich, qui apporte 42 ans d'expérience minière, notamment des réussites comme Aurelian Resources et le développement de la mine Young‑Davidson.
Parmi les faits marquants : une Preliminary Economic Assessment (PEA) prévue au 4e trimestre 2025, intégrant les données de 21 329 mètres de nouveaux forages et de 15 972 mètres de carottes historiques réanalysées. La société exécute un programme de forage de 50 000 mètres jusqu'au 1er trimestre 2026 et a finalisé le rachat d'un NSR de 1% auprès de Wesdome Gold Mines. En outre, la directrice financière Erica Borgstrom démissionnera et Juciane Gomes Goncalves assumera le rôle de CFO par intérim à compter du 30 septembre 2025.
Gold X2 Mining (OTCQB: GSHRF), ehemals Goldshore Resources, gibt bedeutende personelle und unternehmensbezogene Änderungen bekannt. In den Vorstand wurde der Branchenveteran Tom Obradovich berufen, der über 42 Jahre Bergbauerfahrung verfügt und für Erfolge wie Aurelian Resources und die Entwicklung der Young‑Davidson‑Mine bekannt ist.
Wesentliche Entwicklungen umfassen eine für Q4 2025 geplante Preliminary Economic Assessment (PEA), die Daten aus 21.329 Metern neuer Bohrungen und 15.972 Metern neu analysierter historischer Bohrkerne einbeziehen wird. Das Unternehmen führt bis Q1 2026 ein 50.000‑Meter‑Bohrprogramm durch und hat den Rückkauf eines 1% NSR von Wesdome Gold Mines abgeschlossen. Zudem wird CFO Erica Borgstrom zurücktreten; Juciane Gomes Goncalves übernimmt ab dem 30. September 2025 interimistisch die CFO‑Position.
- Appointment of Tom Obradovich brings 42 years of successful mining development expertise
- Company is well-funded through Q1 2026
- Repurchase of 1% NSR from Wesdome Gold Mines improves future project economics
- Extensive new drilling data (21,329 meters) and re-assayed historical core (15,972 meters) to be incorporated in upcoming PEA
- Progress toward potential US major exchange listing targeted for H2 2026
- CFO transition could create temporary leadership uncertainty
- PEA and updated resource estimate delayed to Q4 2025
- Rebranded from Goldshore Resources, Gold X2 Mining continues to prioritize the holistic de-risking of the Moss Gold Project through permitting, technical studies and community engagement, to effectively advance Moss to a construction decision and its vision of building a top-10 producing gold mine in Canada.
- Seasoned Mining Executive Tom Obradovich Joins Board of Directors, bringing 42 years of industry expertise with a storied track record of value creation – notably as a founding member of Aurelian Resources which discovered the Fruta Del Norte gold deposit in Ecuador, and through the resource development and ultimate sale of the Young-Davidson mine in Ontario to Northgate Minerals.
- Release of the Preliminary Economic Assessment (PEA) in conjunction with an updated Mineral Resource Estimate (MRE) is scheduled for Q4 and will incorporate over 21,000 meters of new drilling data, highlighting multiple extensions to the resource, and over 15,000 meters of re-assayed historical core with the goal of increasing life of mine grades.
- Gold X2 remains well funded to execute on its corporate objectives through Q1 2026, supporting a 50,000-meter drill program set for completion in Q1 2026.
Vancouver, British Columbia--(Newsfile Corp. - September 2, 2025) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) ("Gold X2" or the "Company"), is pleased to announce that the Company has changed its name from "Goldshore Resources Inc." to "Gold X2 Mining Inc." (the "Name Change"). The Name Change was approved by the Company's Board of Directors on August 26, 2025. The Company's common shares will commence trading under its new name and ticker symbol "[AUXX]" on the TSX Venture Exchange at market open on September 4, 2025.
In connection with the name change, the following new CUSIP (38076G103) and ISIN (CA38076G1037) numbers have been assigned to the common shares of the Company. No action is required to be taken by shareholders with respect to the name change. Outstanding common share and warrant certificates bearing the old name of the Company are still valid and are not affected by the name and ticker symbol change.
Appointment of Tom Obradovich to Board of Directors
The Company is also pleased to announce the appointment of Tom Obradovich to its Board of Directors, effective September 2, 2025.
Mr. Obradovich is a graduate of the Haileybury School of Mines in Mining Technology and Advanced Field Geophysics and brings over forty-two years of diverse expertise in mining exploration, development and financing. His professional achievements include co-founding Canadian Royalties Inc., which successfully discovered and developed the Raglan South Nickel Belt. Mr. Obradovich also spearheaded the acquisition of most of the Matachewan Gold Camp in Ontario and following a strategic reverse takeover of Young-Davidson Mines, successfully upgraded and doubled the resource. The Young-Davidson project was subsequently acquired by Northgate Minerals in 2005 and has since become one of Canada's largest underground gold mines, currently producing over 200,000 ounces of gold per year under the ownership of Alamos Gold Inc.
One of Mr. Obradovich's most notable achievements was his role as a founding member of Aurelian Resources Inc., which discovered the Fruta Del Norte gold deposit in Ecuador. Following its acquisition by Kinross, the project was brought into production by Lundin Gold, earning its place as one of the world's lowest-cost gold producers.
Equity Grant to Director
The Company also announces that in connection with his appointment as Director, Mr. Tom Obradovich has been granted 325,000 incentive stock options ("Options") and 275,000 restricted share units ("RSUs"), pursuant to the Company's omnibus incentive plan. The Options are exercisable at the grant date share price for a period of five (5) years and vest as follows: 1/3 on March 2, 2026, 1/3 on March 2, 2027 and 1/3 on March 2, 2028. The RSUs become fully vested on September 2, 2026.
CFO Transition
The Company also announces that Erica Borgstrom will be stepping down as Chief Financial Officer, effective as of September 30, 2025. The Company thanks her for her hard work and professionalism and wishes her every success in her future endeavors. Following Ms. Borgstrom's departure, Juciane Gomes Goncalves will assume the role of Interim Chief Financial Officer. Ms. Goncalves brings over 20 years of experience in finance and financial management, and is a seasoned professional with a strong track record. Currently, an employee of Fehr & Associates, the Company's provider of accounting and financial reporting services, Ms. Goncalves is well-positioned to ensure a seamless transition and continue to drive the Company's financial strategy forward.
Michael Henrichsen, CEO of Gold X2, commented, "Goldshore Resources' rebranding to Gold X2 Mining marks a pivotal moment in our evolution, as we prepare to release an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA), and advance the Moss Gold Project into its next phase of development. As we embark on this new chapter, we're sharpening our focus on holistic de-risking, driving value creation, and positioning Gold X2 for long-term success. We're also delighted to welcome Tom Obradovich to our board, whose 42 years of mining expertise, experience working on iconic gold mines, and vast industry network will undoubtedly move Gold X2 forward."
Corporate Update
- Economic Study and Advanced Technical Work: The Company is working closely with G Mining Services to publish a Preliminary Economic Assessment (PEA) in late Q4, which will feature an updated Mineral Resource Estimate (MRE) incorporating 21,329 meters of new drilling data and 15,972 meters of re-assayed historical drill core
- Environmental & Permitting Work: Our consultants are progressing environmental base line studies on schedule, including the initial sampling of aquatic species across thirty sites in the Wawiag and neighbouring catchments, the initial analyses to evaluate waste rock geochemistry, and stage 2 archaeological field studies with the assistance of local community members. Additionally, the Company has been expanding access to allow the drilling of the remaining nested water well pairs in the vicinity of the potential tailings management facility.
- Resource Expansion and Growth: With the aim of resource expansion the Company has commenced 29,000 meters of drilling in the "Moss Block", an area approximately 8 km x 6 km that is centred on the Moss Gold deposit containing
91% of the current Mineral Resource ounces of the project. Management believes that this ongoing drilling will ultimately help continue growing the project ounces and protect performance as the Company shifts focus from PEA to PFS.
In addition, the Company is pleased to have completed the repurchase of a
About Gold X2 Mining
Gold X2 is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world's largest gold company and backed by one of Canada's pre-eminent private equity firms. The Company's current focus is the advanced stage
For More Information – Please Contact:
Michael Henrichsen
President, Chief Executive Officer and Director
Gold X2 Mining Inc.
E: mhenrichsen@goldshoreresources.com
W: www.goldshoreresources.com
T: 1-604-404-4335
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include, among others, statements relating to the Company's plans to advance and de-risk the Moss Gold Project through permitting, technical studies, community engagement, environmental baseline studies, archaeological field studies, and infrastructure access improvements, with the objective of advancing the project toward a future construction decision; the Company's vision of developing the Moss Gold Project into a top-10 producing gold mine in Canada; the expected timing, scope, and outcomes of the Preliminary Economic Assessment and updated Mineral Resource Estimate anticipated in Q4, including the incorporation of new drilling data and re-assayed historical core, and management's belief that these studies may increase grades and extend mine life; the anticipated continuation and results of ongoing drilling programs, including 29,000 metres at the "Moss Block," with the stated objective of expanding resources, increasing ounces, and supporting progression from PEA to PFS; the Company's belief that it is well funded to execute its corporate objectives through Q1 2026, including a 50,000-metre drill program scheduled for completion in Q1 2026; management's expectations regarding the seamless transition of financial leadership from the current CFO to the Interim CFO, and the belief that the Interim CFO will drive the Company's financial strategy forward; the expected contributions of newly appointed director Tom Obradovich to advancing the Company's strategic objectives; the anticipated benefits of the repurchase of a
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company's ability to advance the Moss Gold Project through permitting, technical studies, and community engagement may not occur on the anticipated timeline or at all; the results of exploration, drilling programs, the updated Mineral Resource Estimate, the Preliminary Economic Assessment, or any future prefeasibility/feasibility studies may not be consistent with management's expectations; the timing and success of permitting processes, including environmental baseline studies, archaeological studies, and community engagement initiatives, may be delayed or unsuccessful; commodity price volatility, particularly the market price of gold, may impact the economic viability of the Moss Gold Project; uncertainties relating to potential U.S. listing, including satisfaction of listing requirements and timing thereof; Mr. Obradovich's director term may be terminated early or unexpectedly and may not result in the benefits anticipated; the Company may fail to recruit a permanent CFO to replace the incoming interim CFO; the NSR repurchase may not result in the benefits anticipated; uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management's expectations; the Company's PEA may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company's limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; and other risks associated with executing the Company's objectives and strategies as well as those risk factors discussed in the Company's continuous disclosure documents filed under the Company's SEDAR+ profile at www.sedarplus.ca.
The forward-looking information in this news release is based on management's reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold and other commodities will remain at levels that support the advancement of the Moss Gold Project; anticipated costs and the Company's ability to fund its programs; the Company's ability to carry on exploration, development and mining activities; exploration, drilling, technical studies, and permitting activities will proceed on the expected timelines and yield results consistent with management's expectations; prices for energy inputs, labour, materials, supplies and services; Mr. Obradovich's appointment will provide the Company with the expected benefits and his term will not be terminated unexpectedly; that the Company will complete the PEA within the timeframe expected and that it will include the data and results currently expected by management; that the Company will be successful in developing a top-10 producing gold mine in Canada; with the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the Company will be able to retain and attract key personnel, including the successful transition of the Chief Financial Officer role; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and effective manner; the Company will derive the expected benefits from the NSR repurchase; the Company's ability to obtain financing as and when required and on reasonable terms; that the Company's activities will be in accordance with the Company's public statements and stated goals; that the Company's exploration work will deliver the results expected; the Company will meet all listing requirements in order to secure a listing on a major U.S. exchange and within the timeframe expected; and that there will be no material adverse change or disruptions affecting the Company or its properties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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FAQ
What is the significance of Goldshore Resources changing its name to Gold X2 Mining?
Who is Tom Obradovich and why is his appointment significant for Gold X2 Mining?
What are the key updates in Gold X2 Mining's development plans for the Moss Gold Project?
How many stock options and RSUs were granted to Tom Obradovich?
When is Gold X2 Mining planning to list on a major US exchange?
