Rocky Shore Gold Commences Drill Program At The Gold Anchor Project And Acquires Additional Claims

Rhea-AI Summary

Rocky Shore Gold (CSE:RSG / OTCQB:RSGLF) has begun a first-phase diamond drill program and agreed to acquire 13 additional mining claims in central Newfoundland. The program targets an 11-km Lane Pond corridor with 3,500 metres planned in 15–20 holes over a 1,500m by 600m area. The claim purchase consideration is $25,000 cash plus 250,000 common shares, with vendors retaining a 2.0% NSR (50% of which is repurchasable for $1,000,000). Drilling has commenced and the company plans expanded 2026 exploration including airborne geophysics and sampling.

Positive

• 3,500 metres planned in reconnaissance drilling across Lane Pond
• Acquisition grants right to 100% interest in 13 adjacent mining claims
• NSR repurchase option: 50% for $1,000,000 enhances flexibility

Negative

• Vendors retain a 2.0% NSR, reducing future revenue upside
• Transaction completion is subject to customary closing conditions
• Issuance of 250,000 common shares may cause shareholder dilution

TORONTO, ON / ACCESS Newswire / April 16, 2026 / Rocky Shore Gold Ltd. ("Rocky Shore" or the "Company") (CSE:RSG)(OTCQB:RSGLF) is pleased to announce that the Company has begun a first-phase drill program at its 100%-owned Gold Anchor Project ("Gold Anchor") in central Newfoundland (see Figure 1). The drill program will focus on a portion of the undrilled 11-kilometre-long Lane Pond Gold Target where gold mineralization in soil, basal till, and rock is associated with geophysical anomalies and hosted within the prolific Appleton Fault Corridor. A total of 3,500 metres in 15 to 20 reconnaissance drill holes will target an area of 1,500 metres by 600 metres. The Lane Pond Gold Target is viewed as a fault-related, high-grade gold drill target hosted within sedimentary rocks and a bulk-tonnage porphyry gold target hosted within intrusive rocks. Both target types are located near the Company's Mosquito Hill and Reid gold deposits at Gold Anchor. In addition, the Company's wholly-owned subsidiary has entered into a purchase agreement for the acquisition of 13 mining claims in central Newfoundland. Upon completion of this transaction, the claims will enhance Rocky Shore's strategic position in one of Canada's most prospective gold belts.

Ken Lapierre, President and CEO of Rocky Shore Gold, commented, "We are very excited to begin drilling at our Lane Pond Gold Target located within this emerging gold district in central Newfoundland. The Company is well-funded and plans to expand its 2026 exploration program to unlock Gold Anchor's full potential, including airborne geophysics, targeted prospecting, and sampling. Drilling has commenced initially on discovery of new gold-bearing mineralized systems at Lane Pond and will be expanded to identify additional gold mineralization along trend at its two existing gold deposits."

Figure 1: An Emerging Gold District in central Newfoundland. Rocky Shore in red and NFG in yellow.

TRANSACTION TERMS

Under the terms of the purchase agreement, the Company, through its wholly-owned subsidiary, shall have the right to earn a one hundred percent (100%) interest in and to the 13 mining claims in consideration of $25,000 cash and the issuance of 250,000 common shares. The vendors shall retain an aggregate net smelter return ("NSR") royalty of 2.0%. Rocky Shore, through its wholly-owned subsidiary, may repurchase, at any time, 50% of the NSR for $1,000,000 cash, and shall have a Right of First Refusal on the NSR.

The completion of the purchase agreement is subject to customary closing conditions for a transaction of this nature.

Any shares issued by the Company pursuant to the purchase agreement will be subject to appropriate exemptions, including, but not limited to, the prospectus exemption set forth in Section 2.13 of National Instrument 45-106 - Prospectus and Registration Exemptions, and any other requirements under applicable securities laws and regulations.

QUALIFIED PERSON

The information in this press release was reviewed and approved by Ken Lapierre, P. Geo., President and CEO of the Company, and a Qualified Person in accordance with the Canadian regulatory requirements as set out in National Instrument 43-101. Mr. Lapierre consents to the publication of this press release dated April 16, 2026, by Rocky Shore Gold Ltd.

ABOUT ROCKY SHORE GOLD LTD.

Rocky Shore Gold is a Canadian junior exploration company focused on its 100%-owned Gold Anchor Project in central Newfoundland. It is strategically located within one of Canada's most promising and underexplored gold belts. The Project is the second-largest property (greater than 1,200 square kilometres) in the emerging gold district. Rocky Shore is targeting the expansion of its surface bulk tonnage Mosquito Hill and Reid Gold Deposits, which are related to Intrusion Related Gold Systems (IRGS). It also hosts structurally controlled high-grade gold targets and IRGS along the highly prospective Appleton and JBP Faults located southwest of major gold discoveries and deposits.

Please visit our website at www.rockyshoregold.com.

Rocky Shore would like to acknowledge the $150,000 in financial support for 2025 and the approval of the 2026 Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.

For more information, please contact:

Ken Lapierre, President & CEO
Rocky Shore Gold Ltd.
T: +1 (647) 678-3879
E: ken@rockyshoregold.com

Cathy Hume, CEO
CHF Capital Markets
T: +1 (416) 868-1079 x 251
E: cathy@chfir.com

Twitter: @RockyShoreGold
LinkedIn: @RockyShoreGold

Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian and United States securities laws.Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, including, but not limited to the acquisition of the additional noted mining claims and the advancement of the Company's properties post-acquisition, the exploration potential, the price of gold, the geology of the Project and the advancement of the Company's mineral properties. The forward-looking information is based on reasonable assumptions and estimates of the management of the Company at the time such statements were made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration; future commodity prices; changes in regulations; political or economic developments; environmental risks; permitting timelines; capital expenditures; technical difficulties in connection with exploration activities; employee relations; the speculative nature of mineral resource exploration including the risks of diminishing quantities of grades of mineral resources, contests over title to properties, the Company's limited operating history, future capital needs and uncertainty of additional financing, and the competitive nature of the mining industry; the need for the Company to manage its future strategic plans; global economic and financial market conditions; uninsurable risks; and changes in project parameters as plans continue to be evaluated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Although the forward-looking information contained in this news release is based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Rocky Shore Gold Ltd.

View the original press release on ACCESS Newswire

FAQ

What size drill program did Rocky Shore Gold (RSGLF) start at Gold Anchor on April 16, 2026?

The company started a 3,500 metre first-phase reconnaissance drill program across Lane Pond. According to the company, drilling comprises 15–20 holes targeting a 1,500m by 600m area within the 11-km Lane Pond gold corridor.

What are the terms of Rocky Shore Gold's (RSGLF) acquisition of 13 mining claims in central Newfoundland?

Consideration is $25,000 cash and 250,000 shares, with a retained 2.0% NSR. According to the company, vendors keep the NSR and Rocky Shore may repurchase 50% of the NSR for $1,000,000 and holds a right of first refusal.

How does the 2.0% NSR affect Rocky Shore Gold shareholders (RSGLF)?

A retained 2.0% NSR reduces long-term project royalty-free value to shareholders. According to the company, the NSR can be halved if Rocky Shore elects to repurchase 50% for $1,000,000, partially restoring future upside.

What exploration follow-up does Rocky Shore Gold (RSGLF) plan after starting drilling at Lane Pond?

The company plans to expand 2026 exploration with airborne geophysics, targeted prospecting, and sampling. According to the company, these programs aim to define additional targets and support follow-up drilling across Gold Anchor's deposits and Lane Pond trend.

Is Rocky Shore Gold's (RSGLF) claim purchase completed and what conditions apply?

The purchase is not yet completed and remains subject to customary closing conditions. According to the company, completion requires satisfaction of standard transaction conditions and applicable securities exemptions for shares issued under the agreement.