Mr. Leo Hathaway reports

GOLDEN SHIELD PROVIDES UPDATE ON MARUDI MOUNTAIN PROPERTY AND CORPORATE INITIATIVES

Golden Shield Resources Inc. has provided an update on its 100-per-cent-owned flagship 5,457-hectare Marudi Mountain gold project located in southwestern Guyana, as well as the company's corporate initiatives.

Marudi Mountain gold project update

Golden Shield has noted increased activity by miners operating within the Mazoa Hill special mining permit 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 licence will come back into effect. The MHSMP has a limited average depth of 48 metres that equates to an elevation of 376 metres above mean sea level, below which artisanal mining is prohibited.

Corporate initiatives

Golden Shield has been extremely pro-active 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 Accordingly, the company has withdrawn from all field activities at the Marudi Mountain property while it reviews alternatives.

About Golden Shield Resources Inc.

Golden Shield controls the 5,457-hectare Marudi Mountain property located in the Rupununi district of southwestern Guyana.

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