Exhibit 99.12

GOLDSHORE RESOURCES INC.

Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

In Canadian Dollars

GOLDSHORE RESOURCES INC.

Condensed Consolidated Interim Statements of Financial Position

(In Canadian Dollars, unaudited)

As at,

Nature and continuance of operations and going concern (Note 1)

Subsequent events (Note 17)

These financial statements were authorized for issue by the Board of Directors on August 27, 2025. They are signed on behalf of the Board of Directors by:

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

GOLDSHORE RESOURCES INC.

Condensed Consolidated Interim Statements of Loss and Comprehensive Loss

(Unaudited, in Canadian Dollars)

 

		Three months ended								Six months ended
		June 30, 2025				June 30, 2024				June 30, 2025				June 30, 2024
EXPENSES
Amortization expense (Note 7)		$	12,247			$	18,509			$	27,414			$	37,171
Consulting fees (Note 13)			457,315				124,202				743,415				209,702
General and administrative costs (Note 13)			156,591				137,781				306,130				214,776
Professional fees			190,478				60,208				385,556				108,079
Regulatory and transfer agent fees			56,748				30,220				90,504				55,763
Shareholder information and investor relations			119,599				49,219				658,211				102,306
Stock-based compensation (Notes 12 and 13)			760,564				380,351				1,543,008				849,681
Travel costs			43,976				33,528				62,008				42,477
		$	(1,797,518	)		$	(834,018	)		$	(3,816,246	)		$	(1,619,955	)
OTHER ITEMS
Interest expense (Note 9)			(1,276	)			(2,497	)			(3,645	)			(5,193	)
Interest and other income (Notes 7 and 11)			20,708				51,289				137,582				114,230
Part XII.6 tax expense			(36,308	)			-				(137,666	)			-
Recovery of flow-through premium (Note 10)			1,351,423				48,268				2,997,047				106,481
LOSS BEFORE INCOME TAXES		$	(462,971	)		$	(736,958	)		$	(822,928	)		$	(1,404,437	)
Deferred income tax expense			(1,291,000	)			(73,000	)			(2,885,000	)			(183,000	)
LOSS AND COMPREHENSIVE LOSS		$	(1,753,971	)		$	(809,958	)		$	(3,707,928	)		$	(1,587,437	)
Basic and diluted loss per share		$	(0.00	)		$	(0.00	)		$	(0.01	)		$	(0.01	)
Weighted average number of common shares outstanding – basic and diluted			367,548,203				261,072,520				352,645,753				260,370,219

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

GOLDSHORE RESOURCES INC.

Condensed Consolidated Interim Statements of Changes in Shareholders’ Equity

(Unaudited, in Canadian Dollars)

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

GOLDSHORE RESOURCES INC.

Condensed Consolidated Interim Statements of Cash Flows

(Unaudited, in Canadian Dollars)

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

Goldshore Resources Inc. (the “Company”) is a gold focused Canadian mineral exploration company. The Company’s primary business is the acquisition and evaluation of precious metal mineral properties in Canada. Goldshore currently holds title to the Moss Gold Project and Hillcrest Project, and an option to earn into the Vanguard Project, located in Ontario, Canada. The Company’s head office is located at 450 Commerce Place, 400 Burrard Street, Vancouver, British Columbia, V6C 3A6 and its registered and records office is at 1111 West Hastings Street, 15^th Floor, Vancouver, British Columbia, V6E 2J3.

These condensed consolidated interim financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the ordinary course of operations. As at June 30, 2025, the Company’s current assets exceeded its current liabilities by $33,099,500 and the Company had an accumulated deficit of $31,639,428. The Company’s ability to continue as a going concern is dependent upon its ability to raise equity capital or borrowings sufficient to meet future obligations until such a time as the Company is profitable. The business of mining and exploration involves a high degree of risk and there can be no assurance that management’s plans will be successful. The Company currently is not generating any revenue. Whether and when the Company can obtain profitability and positive cash flows from its operations is uncertain. These material uncertainties may cast significant doubt on the Company’s ability to continue as a going concern. These condensed consolidated interim financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. Such adjustments could be material.

Statement of compliance

These condensed consolidated interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting, using accounting policies consistent with IFRS Accounting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

Basis of preparation

These condensed consolidated interim financial statements have been prepared on a historical cost basis, except for financial instruments classified as financial instruments at fair value through profit or loss (“FVTPL”), which are stated at their fair value. In addition, these condensed consolidated interim financial statements have been prepared using the accrual basis of accounting, except for cash flow information.

Basis of consolidation

The condensed consolidated interim financial statements include the accounts of the Company and its wholly owned subsidiary, Moss Lake Project Inc. (“Moss Lake”). Intercompany balances and transactions, including unrealized income and expenses arising from inter-company transactions, are eliminated on consolidation.

Presentation and functional currency

The presentation and functional currency of the Company and its subsidiary is the Canadian dollar. All amounts in these condensed consolidated interim financial statements are expressed in Canadian dollars, unless otherwise indicated.

Significant accounting judgments and estimates

The preparation of condensed consolidated interim financial statements in accordance with IFRS requires management to make certain critical accounting estimates and assumptions about the future and to exercise judgment in applying the Company’s accounting policies. Actual results could differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. The impacts of changes to estimates are recognized in the period estimates are revised and in future periods affected.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

2.     BASIS OF PRESENTATION (continued)

Significant accounting judgments

The critical judgments, apart from those involving estimations, that management has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognized in the financial statements are as follows:

Going concern

The assessment of the Company’s ability to continue as a going concern and to raise sufficient funds to pay for its ongoing operating expenditures and meet its liabilities for the ensuing year involves significant judgment based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances.

Impairment of long-lived assets

The carrying value and the recoverability of long-lived assets, including exploration and evaluation assets, are evaluated at each reporting date. Management assesses for indicators of impairment, which includes assessing whether facts or circumstances exist that suggest the carrying amount exceeds the recoverable amount, specifically if the Company expects to continue with expenditure on the further exploration of the project, and that the period for which the Company has the right to explore has not and will not expire.

Key sources of estimation uncertainty

The key assumptions management has made about the future and other major sources of estimation uncertainty at the date of the statement of financial position that have significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Valuation of stock-based compensation and compensation options

The Company uses the Black-Scholes option pricing model for the valuation of stock-based compensation and compensation options. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate, forfeiture rate, risk-free market interest rate, expected volatility in the price of the underlying stock and expected life of the instruments. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves.

Flow-Through premium liability

Pursuant to the terms of the flow-through share agreements, flow-through shares transfer the tax deductibility of qualifying resources expenditures to investors. On Issuance, the Company bifurcates the flow-through shares into i) a flow-through share premium, equal to the estimated premium, if any, investors pay for the flow-through feature, which is recognized as a liability, and ii) share capital. Upon expenses being incurred, the Company derecognizes the liability on a pro-rata basis and recognizes a recovery for the amount of tax reduction renounced to the shareholders.

Income taxes

The Company recognizes deferred tax assets for deductible temporary differences, unused tax losses and other income tax deductions only to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses and other income tax deductions can be utilized. In assessing the probability of realizing the income tax benefits of deductible temporary differences, unused tax losses and other income tax deductions, management makes estimates related to expectations of future taxable income, applicable tax planning opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. The likelihood that tax positions taken will be sustained upon examination by applicable tax authorities is assessed based on individual facts and circumstances of the relevant tax position evaluated in light of all available evidence.

Changes in any of the above-mentioned estimates can materially affect the amount of income tax assets recognized. In addition, where applicable tax laws and regulations are either unclear or subject to varying interpretations, changes in these estimates can occur that materially affect the amounts of income tax assets recognized. The Company reassesses unrecognized income tax assets at the end of each reporting period.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

3.     MATERIAL ACCOUNTING POLICIES

The accounting policies followed by the Company are set out in Note 3 to the audited consolidated financial statements for the year ended December 31, 2024, and have been consistently followed in the preparation of these condensed consolidated interim financial statements:

a)     New accounting standards and interpretations

IFRS 18 – Presentation and Disclosure in Financial Statements

In April 2024, the IASB issued IFRS 18, Presentation and Disclosure of Financial Statements (IFRS 18), which replaces IAS 1, Presentation of Financial Statements. IFRS 18 introduces a specified structure for the income statement by requiring income and expenses to be presented into the three defined categories of operating, investing and financing, and by specifying certain defined totals and subtotals. Where company-specific measures related to the income statement are provided, IFRS 18 requires companies to disclose explanations around these measures, which are referred to as management defined performance measures. IFRS 18 also provides additional guidance on principles of aggregation and disaggregation which apply to the primary financial statements and the notes.

IFRS 18 will not affect the recognition and measurement of items in the financial statements, nor will it affect which items are classified in other comprehensive income and how these items are classified. The standard is effective for reporting periods beginning on or after January 1, 2027, including for interim financial statements. Retrospective application is required, and early application is permitted. The Company is currently assessing the effect of this new standard on its financial statements.

4.    CASH AND CASH EQUIVALENTS

At June 30, 2025 and December 31, 2024, the Company’s cash and cash equivalents were comprised of the following:

At June 30, 2025, cash held in bank accounts included $31,500,000 deposited in savings accounts generating interest of 2.90%. Cash equivalents are held in cashable guaranteed investment certificates with an interest rate of 3.65%.

5.     AMOUNTS RECEIVABLE

The Company’s amounts receivable is comprised of the following:

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

6.     EXPLORATION AND EVALUATION ASSETS

Moss Gold Project

On January 25, 2021, the Company entered into a purchase agreement with Moss Lake Gold Mines Ltd. and Wesdome Gold Mines Ltd. (“Wesdome”) to acquire a 100% interest in the Moss Gold Project located in Ontario, Canada (the “Transaction”). The Transaction closed on June 4, 2021 (“Closing”). In exchange for a 100% interest in the project, the Company will:

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

The Moss Gold Project carries an underlying advanced royalty commitment due quarterly until the project enters production, which was inherited from Wesdome at the time of acquisition, presented as other costs in the table above.

On May 1, 2025, the Company entered into an agreement to repurchase 1.5% of a 2.5% net profit interest (“NPI”) on the Moss Gold Project for a total purchase price of $ 1,590,000 through a combination of share consideration and cash payments over a term of 48-months. At June 30, 2025, the agreement remained subject to TSX Venture (“TSXV”) regulatory approval (Note 17). After the NPI repurchase, the annual underlying advanced royalty commitment is $18,125, payable on a quarterly basis.

During the six months ended June 30, 2025, the Company received a $200,000 grant under the Ontario Junior Exploration Program administered by the Government of Ontario in support of eligible exploration activities incurred for the Moss Gold Project. All eligible expenditures were incurred during 2024 and the grant has been recorded as a reduction to the carrying amount of exploration and evaluation assets above.

Other Projects

Vanguard Project

On July 5, 2022, and amended on May 29, 2023 and May 21, 2024, the Company executed an option agreement with Thunder Gold Corp. (“Thunder Gold”) to earn in to certain mining claims held by Thunder Gold in the Shebandowan greenstone belt known as the Vanguard Project (the “Vanguard Project”). The effective date of the agreement was July 28, 2022 (the “Effective Date”). Key terms of the option agreement are as follows:

Subsequent to June 30, 2025, the Company amended the option agreement with Thunder Gold. Under the amended terms, the final cash payment was increased to $100,000 and the remaining required expenditures were revised to $4,989,000, which may be incurred at any time, at the sole discretion of the Optionee. On July 28, 2025, the Company completed the final the cash payment and share issuance pursuant to the option agreement.

Hillcrest Project

On May 8, 2023, the Company staked various claims located in Ontario which comprise the Hillcrest Project for acquisition costs of $19,500. During the three months ended June 30, 2025, these claims lapsed, and the Company staked various claims, including the original cells and expanded areas, for acquisition costs of $28,750.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

7.     RIGHT-OF-USE ASSETS AND EQUIPMENT

A continuity of the Company’s right-of-use assets and equipment is as follows:

During the six months ended June 30, 2025, the Company wrote-off a leased vehicle with a net book value of $16,558 and received related insurance proceeds of $64,704. The net amount of $48,146 has been recorded as other income (expense). Refer to Note 11.

8.     ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

The Company’s accounts payable and accrued liabilities are comprised of the following:

9.     LEASE LIABILITIES

The Company leases vehicles. At acquisition, the leased assets and liabilities were measured at the present value of the lease payments plus the anticipated exercise of renewal options, discounted using the rate implicit in the leases, which was determined to be 8% on a weighted average basis.

The Company’s lease liabilities are as follows:

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

The lease liability interest expense recognized in loss and lease payments recognized in the financing component of statement of cash flows is as follows:

During the six months ended June 30, 2025, the Company expensed $11,562 under the IFRS 16 short-term exemption (2024 - $22,800). The Company did not designate any leases as low-value.

10.  FLOW-THROUGH PREMIUM LIABILITY

The following is a continuity of the Company’s flow-through premium liability:

During the three and six months ended June 30, 2025, the Company recorded a recovery of the flow-through premium of $1,351,423 and $2,997,047, respectively (2024 - $48,268 and $106,481) based on eligible flow-through exploration expenditures incurred.

On June 20, 2025, the Company issued 26,315,790 flow-through common shares of the Company at a price of $0.38 for gross proceeds of $10,000,000 and 28,409,090 charity flow-through common shares of the Company at a price of $0.44 for gross proceeds of $12,500,000. Based on the difference in price between the Flow-Through Shares and the Company’s common shares, management accounted for the premium paid on the Flow-Through Shares on a residual basis as a flow-through premium liability of $4,167,165 (Note12).

As at June 30, 2025, the Company has a remaining obligation to spend $ 2,026,532 on eligible exploration expenditures by December 31, 2025 and $22,500,000 by December 31, 2026 (December 31, 2024 - $12,792,531 by December 31, 2025).

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

The Company’s Interest and other income are comprised of the following:

12.  SHARE CAPITAL AND RESERVES

Authorized share capital

Unlimited number of common shares without par value.

Issued share capital

At June 30, 2025, there were 465,853,651 issued and fully paid common shares (December 31, 2024 – 335,615,647). There were no shares held in escrow.

Six months ended June 30, 2025:

During the six months ended June 30, 2025, 16,678,707 warrants were exercised into common shares at an exercise price of $0.25 for aggregate gross proceeds of $4,169,677. In connection with the exercises, a total of Nil was transferred from reserves to share capital.

During the six months ended June 30, 2025, 1,090,224 compensation options were exercised into common shares at an exercise price of $0.17, for aggregate gross proceeds of $185,338. In connection with the exercises, a total of $119,084 was transferred from reserves to share capital.

During the six months ended June 30, 2025, 1,012,422 stock options were exercised into common shares at an average exercise price of $0.19 for gross proceeds of $193,530. In connection with the exercises, a total of $100,707 was transferred from reserves to share capital.

On May 30, 2025, the Company issued 12,500,000 common shares at a deemed value of $0.60 per share for a total value of $7,500,000 to Wesdome Gold Mines Ltd. pursuant to its purchase agreement for the Moss Gold Project (Note 6).

On June 6, 2025, 600,000 RSU’s vested which were settled by way of a combination of cash and equity, comprised of the issuance of 409,191 common shares and an aggregate cash payment of $63,921.

On June 20, 2025, the Company completed a bought deal private placement for aggregate gross proceeds of $36,085,000. In connection with the private placement, the Company issued:

The CFT Shares and the HD Shares were offered to purchasers resident in all provinces and territories of Canada (excluding Quebec) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”). The FT Shares and Hold Shares were offered to purchasers resident in all provinces and territories of Canada pursuant to other applicable exemptions from the prospectus requirements of NI 45-106.

Based on the difference in price between the Flow-Through Shares and the Company’s common shares, management accounted for the premium paid on the Flow-Through Shares on a residual basis as a flow-through premium liability of $4,167,165 (Note 10). In connection with the private placement, the Company paid the underwriters a cash commission of $2,038,395, paid fees of $159,915 and incurred other share issuance costs of $ 921,379. Share issuance costs for the six months ended June 30, 2025 also included $9,801 of costs recorded during the three months ended March 31, 2025.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

Year ended December 31, 2024:

During the year ended December 31, 2024, 37,500,000 warrants were exercised into common shares at an exercise price of $0.13 and 3,222,450 warrants were exercised into common shares at an exercise price of $0.25, for aggregate gross proceeds of $5,680,612. In connection with the exercises, a total of $187,500 was transferred from reserves to share capital.

During the year ended December 31, 2024, 986,393 compensation options were exercised at an exercise price of $0.17 for gross proceeds of $167,686. In connection with the exercises, a total of $107,714 was transferred from reserves to share capital.

On July 26, 2024, the Company issued 400,000 common shares with a fair value of $110,000 to Thunder Gold Corp. pursuant to its option agreement for the Vanguard Project.

On October 29, 2024, the Company completed a brokered private placement for aggregate gross proceeds of $13,972,358 (collectively, the “October Flow-Through Shares”). In connection with the private placement, the Company issued:

Based on the difference in price between the October Flow-Through Shares and the Company’s common shares, management accounted for the premium paid on the October Flow-Through Shares on a residual basis as a flow-through premium liability of $3,889,636 (Note 10). In connection with the private placement, brokers received a cash commission of $813,220 and incurred other share issuance costs of $512,093. In addition, the Company granted the brokers 1,627,565 non-transferable compensation options (the “Compensation Options”) with a fair value of $248,588. Each Compensation Option will entitle the holder thereof to purchase one common share at an exercise price of $ 0.475 per common share for a period of 24 months following the closing of the private placement. The fair value of the Compensation Options was determined using the Black-Sholes Option Pricing Model using the following assumptions: risk-free rate of 3.08%, expected life of 2 years, volatility factor of 91.1%, and dividend yield of Nil.

Stock options

The Company adopted an Omnibus Incentive Plan on November 3, 2022 (the “Plan”), approved by shareholders at the Company’s annual general meeting on June 26, 2025. Under the Plan, the Company may grant its directors, officers, employees and consultants stock options, restricted share units, and deferred share units (together the “Share Based Compensation”) of the Company and which reserves up to 10% of its outstanding shares as Share Based Compensation. The exercise price shall not be less than the market value (“Market Value”) of the common shares of the Company as of the grant date. Market Value will be the closing trading price of the common shares on the day immediately preceding the grant date and may be less than this price if it is within the discounts permitted by the applicable regulatory authorities including the TSX Venture Exchange. The expiry date of an option shall be determined by the Board of Directors of the Company and shall be no later than the tenth anniversary of the grant date of such option. The vesting terms and conditions of stock options are determined by the Board of Directors.

The Black-Scholes Option Pricing Model inputs for options granted during the six months ended June 30, 2025 and the year ended December 31, 2024 are as follows:

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

The following is a continuity of the Company’s stock options outstanding for the six months ended June 30, 2025 and the year ended December 31, 2024:

During the six months ended June 30, 2025, the Company recognized $715,435 (2024 – $509,188) in stock-based compensation expense related to the vesting of stock options. During the six months ended June 30, 2025, the fair value of expired stock options of Nil was reclassified to deficit (2024 – $67,105).

As at June 30, 2025, the Company had outstanding options as follows:

(1)       Subsequent to June 30, 2025,1,085,336 options were canceled unexercised. Refer also to Note 17.

The weighted average remaining contractual life of stock options outstanding at June 30, 2025 was 2.94 years (December 31, 2024 – 3.38 years).

Restricted Share Units (“RSUs”)

The following is a continuity of the Company’s RSU’s outstanding for the six months ended June 30, 2025 and for the year ended December 31, 2024:

On May 28, 2025, 600,000 RSU’s vested which were settled by way of a combination of cash and equity, comprised of the issuance of 409,191 common shares and an aggregate cash payment of $63,921

On April 24, 2024, 1,673,968 RSU’s vested which were settled by way of a combination of cash and equity, comprised of the issuance of 1,290,472 common shares and an aggregate cash payment of $55,607.

On February 10, 2025, 250,000 RSU’s were granted to an officer of the Company. The RSUs vest after one year.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

In October 2024, 112,500 RSU’s originally granted in the November 17, 2023 tranche were cancelled. On November 17, 2024, the remaining 2,887,500 RSU’s vested and were settled by way of equity, resulting in the issuance of 2,887,500 common shares.

On December 22, 2024, 2,095,332 RSU’s vested which were settled by way of a combination of cash and equity, comprised of the issuance of 1,653,355 common shares and an aggregate cash payment of $109,495.

As at June 30, 2025 the Company had outstanding RSUs as follows:

(1)       Subsequent to June 30, 2025,3,000,000 RSU’s vested and were settled in equity. Refer also to Note 17.

During the six months ended June 30, 2025, the Company recognized $827,573 (2024 - $340,493) in stock-based compensation expense related to the vesting of RSU’s.

Warrants

The following is a continuity of the Company’s warrants outstanding for the six months ended June 30, 2025 and the year ended December 31, 2024:

During the six months ended June 30, 2025, the fair value of expired warrants of Nil was reclassified to deficit (2024 – $731,909).

As at June 30, 2025, the Company had outstanding warrants as follows:

The weighted average remaining contractual life of warrants outstanding at June 30, 2025 was 1.38 years (December 31, 2024 – 0.38 years).

Compensation options

The following is a continuity of the Company’s compensation options outstanding for the six months ended June 30, 2025 and the year ended December 31, 2024:

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

During the six months ended June 30, 2025, fair value of expired compensation options of Nil was reclassified to deficit (2024 – $221,700).

As at June 30, 2025, the Company had outstanding compensation options as follows:

The weighted average remaining contractual life of compensation options outstanding at June 30, 2025 was 1.33 years (December 31, 2024 – 1.21 years).

13.   RELATED PARTIES

The Company’s related parties consist of its key management personnel. During three and six months ended June 30, 2025 and 2024, the Company incurred the following amounts for compensation of key management personnel, including directors, and companies controlled and/or owned by officers and directors of the Company:

(1) The six-month figures include $271,998 recorded in consulting fees, $71,503 recorded in general and administrative costs and $140,000 capitalized to exploration and evaluation assets (2024 - $132,000, Nil and $171,516, respectively). The three-month figures include $129,998 recorded in consulting fees, $44,003 recorded in general and administrative costs and $70,000 capitalized to exploration and evaluation assets (2024 - $76,500, Nil and $101,516, respectively).

As at June 30, 2025, the Company did not owe any amounts to key management personnel in respect of services provided to the Company (December 31, 2024 - $36,240) and owed $4,994 in respect of expenses incurred on behalf of the Company (December 31, 2024 - $4,804).

During the six months ended June 30, 2025, the Company was party to service agreement whereby it had contracted administrative, corporate and financial reporting services with Sentinel Corporate Services Inc. (“Sentinel”), a company controlled by a close family member of the former Chief Financial Officer. The agreement was in effect until April 30, 2025. The Company incurred related party expenses with Sentinel for during the six months ended June 30, 2025 of $15,000 (2024 - $57,000), which were included in general and administrative costs.

All related party transactions are incurred in the normal course of business and are negotiated on terms between the parties which are believed to represent fair market value for all services rendered. Any amounts due to related parties arising from the above transactions are unsecured, non-interest bearing and are due upon receipt of invoices.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

The Company’s financial assets and liabilities are classified as follows:

Accounts payable and accrued liabilities include amounts due to and due from related parties (Note 13). The Company’s cash and cash equivalents, amounts receivable and accounts payable and accrued liabilities approximate their carrying amounts due to the short-term nature of these instruments.

The Company's risk exposures arising from financial instruments and the impact on the Company's condensed consolidated interim financial statements are summarized below:

Credit risk

Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. As at June 30, 2025, the Company was exposed to credit risk on its cash and cash equivalents and other receivables. The Company’s cash and cash equivalents are held with high credit quality financial institutions in Canada and as at June 30, 2025, management considers its exposure to credit risk to be low. The Company’s maximum exposure to credit risk is equal to the carrying amount of its cash and cash equivalents and other receivables.

Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with its financial liabilities. The Company has aimed to manage liquidity risk by maintaining adequate cash and managing its capital and expenditures. At June 30, 2025, the Company had cash and cash equivalents of $39,554,591 and accounts payable and accrued liabilities of $2,798,889 with contractual maturities of less than one year. The Company’s ability to continue as a going concern is dependent on management’s ability to raise financing until such time that the Company is profitable. The Company manages its liquidity risk by forecasting cash flows from operations and investing activities. Management and the Board of Directors are actively involved in the review, planning and approval of significant expenditures and commitments. At June 30, 2025, the Company assessed its liquidity risk as moderate.

Market risk

The risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: foreign currency risk, interest rate risk and other price risk. The Company is not exposed to significant currency risk, interest rate risk or other price risk. There have been no changes to the Company’s market risk exposure since December 31, 2024.

GOLDSHORE RESOURCES INC.

Notes to the Condensed Consolidated Interim Financial Statements
For the six months ended June 30, 2025 and 2024

(Unaudited, in Canadian Dollars)

15.   CAPITAL MANAGEMENT

The Company considers its capital structure to consist of shareholders’ equity. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to support the acquisition, exploration and development of mineral properties. The Board of Directors does not establish quantitative return on capital criteria for management but rather relies on the expertise of the Company’s management to sustain future development of the business.

The Company will continue to assess new properties and seek to acquire an interest in additional properties if it feels there is sufficient geologic or economic potential and if it has adequate financial resources to do so. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company is not subject to any externally imposed capital requirements. There were no changes to the Company’s approach to capital management during the six months ended June 30, 2025.

16.   SEGMENT DISCLOSURES

The Company operates in a single operating segment in the geographic location of Canada. All of the Company’s non-current assets are located in Canada.

17.   SUBSEQUENT EVENTS

On May 1, 2025, the Company entered into an agreement to repurchase 1.5% of a 2.5% NPI on the Moss Gold Project for a total purchase price of $1,590,000 through a combination of share consideration and cash payments over a term of 48-months. Subsequent to the reporting period, the Company completed an initial share issuance of 1,000,000 common shares on August 1, 2025.

On July 21, 2025, the Company exercised its purchase option with Wesdome of the 1.0% NSR on all metal production from the Moss Gold Project for $7,500,000, consisting of a $5,500,000 cash payment and the issuance of 3,333,333 common shares at a deemed price of $0.60 per common share.

On July 25, 2025, the Company amended the option agreement with Thunder Gold. Under the amended terms, the remaining required expenditures on the Vanguard Project were revised from $1,350,000 (due on or before July 28, 2025) to $4,989,000, which may now be incurred at any time, at the sole discretion of the Optionee, with no prescribed deadline. On July 28, 2025, the Company completed its final $100,000 cash payment and issued 500,000 common shares pursuant to the option agreement.

On July 29, 2025, 3,000,000 RSUs vested and were settled in equity and 1,085,336 stock options were cancelled unexercised.