GoldCoast Resource Corp. Granted 10,000 km2 Offshore Reconnaissance License for Gold Exploration on Ghana's Shallow Continental Shelf

Toronto, Ontario--(Newsfile Corp. - January 26, 2026) - GoldCoast Resource Corp. ("GoldCoast" or the "Company") is pleased to announce that it has been granted a series of 10 contiguous Offshore Reconnaissance Licenses (collectively, the "Licenses") covering approximately 10,000 square kilometres along Ghana's western offshore continental shelf (the "License Area"). The Licence Area covers approximately 53% of Ghana's total offshore coastline.

The Licenses provide GoldCoast with the exclusive right to conduct offshore reconnaissance activities, including airborne and marine geophysical surveys, bathymetric mapping and seismic surveys, magnetometry, coring, and sediment sampling, for the purpose of identifying areas of mineral potential. Targeted commodities include gold and associated heavy minerals. The License Area extends along approximately 300 kilometres of coastline, situated at Half Assini, in western Ghana, eastward to Winneba, Ghana, and covers shallow-water offshore zones influenced by multiple gold-bearing river systems draining established onshore gold belts in Ghana. The Company cautions investors that mineralization hosted on nearby or adjacent properties is not necessarily indicative of mineralization hosted on the License Area.

GoldCoast Offshore License Area
10,000 km² Reconnaissance Concession, Western Ghana 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12162/281671_8c6a9ba99471c8b4_001full.jpg

Reconnaissance activities are intended to define specific areas of interest ("Areas of Interest") through geophysical surveys and sampling that may be advanced to prospecting licenses, permitting bulk sampling and more detailed testing, including dredging ("Prospecting Licenses"). Subject to positive results and regulatory approvals, these areas may ultimately be converted to mining licenses for commercial production ("Mining Licenses").

Management Commentary

Sir Sam Jonah, Chairman of GoldCoast, commented, "On behalf of the Company, I would like to thank the Government of Ghana and the Minerals Commission for their constructive engagement and for granting GoldCoast the Offshore Reconnaissance Licenses. Ghana has a long and proud mining history, and we appreciate the opportunity to responsibly evaluate the offshore mineral potential throughout its continental shelf."

Michael Nikiforuk, Chief Executive Officer of GoldCoast, added, "GoldCoast offers a unique, 1st mover opportunity, to develop one of the world's last unexplored gold frontiers - a district-scale (10,000 km²) shallow water, offshore concession, representing multi-deposit potential. The grant of these Licenses allow GoldCoast to formally advance a disciplined, phased offshore exploration program. We are excited to begin reconnaissance activities and to systematically assess the geological potential of the License Area in accordance with regulatory and environmental standards. Now that we have the Licenses in hand, we are accelerating our go-public strategy through the reverse takeover of Psyence Group Inc. (announced November 25, 2025), positioning GoldCoast to access public capital to advance exploration and development."

Unrivaled Geological Setting

GoldCoast's exploration thesis is based on Ghana's long-standing position as Africa's largest and one of the world's leading gold-producing jurisdictions and the distinctive geological setting of its western coastline. According to the Ghana Gold Board (GoldBod), Ghana is Africa's largest gold producer, with reported annual production of approximately 4-5 million ounces of gold. Gold represents the country's largest export commodity, generating an estimated US$11.2 billion in 2025 annual export revenues.^[1]

In country production is derived from multiple onshore gold belts that are intersected and drained by several major river systems transporting eroded gold-bearing sediments (bedload) to the coast. Within the License Area, the major river systems, draining gold belts in southwestern Ghana, converge onto a shallow continental shelf. Over prolonged interglacial periods, repeated erosion, sea-level fluctuations, and sediment transport are believed to have delivered and reworked gold-bearing bedload into offshore paleo-channels, submerged beach systems, and deltaic environments.^[2]

Dr. R.J. Griffis, Senior Vice President of Exploration at GoldCoast and senior author of The Gold Deposits of Ghana (2002), commented, "The amount of gold that has been weathered away from the south-west Ghana gold districts and carried to the ocean by major rivers would suggest the eroded gold inventory is likely in the order of approximately 200 million ounces."

Exploration Program

GoldCoast plans to initiate a phased reconnaissance program consisting of:

• Airborne magnetic and geophysical surveys;
• Seaborne bathymetric, seismic, and magnetometry surveys;
• Systematic sediment sampling and analysis; and
• Integration of geophysical and geochemical data to define priority targets.

The objective of the reconnaissance program is to identify and prioritize Areas of Interest for potential follow-on exploration, subject to results and regulatory approvals.

Upon a determination that a commercially viable operation may exist, and subject to the completion of further technical studies, environmental assessments, and receipt of all required regulatory approvals, the Company expects that any future operations will utilize commercially proven, shallow-water dredging and mineral recovery methods. Such methods have been employed for decades in the offshore production of marine aggregates, tin, and diamonds in multiple jurisdictions globally and utilize commercially available vessels and equipment. There can be no assurance that a commercially viable project will be identified or that any such operations will proceed.

Regulatory Pathway

The Offshore Reconnaissance Licenses have an initial term of 12 months, with an option for the Company to renew for an additional 12-month period.

The Reconnaissance Licenses do not prescribe any minimum or government-mandated work commitments. GoldCoast retains full discretion to determine the scope, timing, and sequencing of exploration activities, with the objective of efficiently identifying and prioritizing Areas of Interest that warrant further investigation.

Advancement to a Prospecting License is expected to be driven by technical success during reconnaissance. Upon defining targets that justify more advanced evaluation methods, including potential bulk sampling or mechanical testing such as dredging, the Company may apply to migrate to the next stage of licensing.

GoldCoast is not required to wait for the full 12-month term to elapse and may apply for a Prospecting License at any time upon completion of sufficient reconnaissance work and submission of the applicable application and supporting data to the relevant authorities.

Following successful prospecting and demonstration of technical and economic viability, the Company may apply to convert all or portions of the Licensed Area into Mining Licenses, which would permit commercial extraction activities, subject to completion of the required technical studies, environmental assessments, and regulatory approvals.

Go-Public Transaction Update

GoldCoast continues to advance its previously announced reverse takeover transaction with Psyence Group Inc. (CSE: PSYG) (the "Transaction"), which is expected to provide the Company with a public listing and access to institutional and retail investors to fund ongoing exploration activities.

The Transaction is in its final stages, with key milestones including preparing a technical report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, completion of required financial statement audits, and preparation and mailing of the management information circular to shareholders. Upon satisfaction of these customary closing conditions and receipt of applicable approvals, the Company expects to complete the Transaction and commence trading on the Canadian Securities Exchange.

Qualified Person

Samuel Torkornoo, P. Geo., BSc, MBA , a Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release.

About GoldCoast Resource Corp.

GoldCoast Resource Corp. is a mineral exploration company focused on the environmentally responsible evaluation of nearshore gold-bearing aggregate systems along Ghana's shallow continental shelf. The Company is headquartered in Toronto, Canada.

For further information please contact:

Michael Nikiforuk
Founder, Director & CEO
michael.nikiforuk@goldcoastresource.com
+1 416 938 5555

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding planned exploration activities, future licensing, and potential advancement of the project. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update forward-looking statements except as required by law.

^[1] https://goldbod.gov.gh/ghanas-gold-export-receipts-reach-record-levels-this-year/
^[2] Griffis, R.J., Barning, K., Agezo, F.L., Akosah, F.K., Gold Deposits of Ghana, Minerals Commission, Accra. See discussion of river-hosted alluvial gold resources and offshore/continental shelf concentration of sediments (Chapter 6 - Alluvials; Beach & Offshore Sediments; and concluding comments)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281671