Announcement • Jun 16
GSP Resource Corp Commences Phase 1 Drilling At Alwin-Mer Targeting High-Grade Gold And Porphyry Copper GSP Resource Corp. announced that 2026 drilling at the combined Alwin-Mer properties located in the Highland Valley Copper Camp of British Columbia has commenced. The first phase of 2026 drilling is targeting both porphyry copper potential at the Mer property and follow-up drilling to a gold discovery drilled at Alwin in late 2024. The first phase of drilling is expected to total between 1,200 and 1,500 metres. Phase 1 drilling at the Alwin high-grade gold target is expected to follow up on the discovery of high-grade gold values drilled in late 2024 in step-out hole AM-24-06 that yielded 5.04 grams-per-tonne (g/t) Gold (Au) and 1.01% Copper (Cu) over 7.90 metres (m); including 22.93 g/t Au and 1.82% Cu over 1.64 m. The Alwin Project currently hosts an inferred mineral resource comprising 1.46 million tonnes (Mt), at an average grade of 1.08% Cu, yielding 34.6 million pounds of Cu. Potentially significant silver and gold values have long been known at Alwin, however a lack of historic assays for these metals prior to drilling by GSP has precluded their inclusion in resource estimation. The new discovery within west-side step-out drill hole AM-24-06 at a depth of 40 m below the current resource pit shell presents an opportunity to augment existing open pit and underground mineable copper resources with high-grade gold values. The occurrence of high-grade gold values, below the vertical projection of existing “3 Zone” modelled copper resources, affirms the Company’s belief that these two contrasting mineralization styles are structurally and genetically linked, and can be successfully targeted within the context of the current Alwin Mine geological model. Additionally, the Alwin high-grade gold mineralization is visually distinct from the broader copper zones and is marked by the presence of intense texturally destructive black chlorite-sericite alteration. As part of the first phase of 2026 drilling, GSP is planning to step out and potentially expand the footprint of important high-grade gold mineralization within AM-24-06. The drilling is designed to test both laterally and vertically beyond AM-24-06 to provide additional intercepts to confirm the structural setting, as well as to extend the depth of drill holes to test additional modelled copper lodes within the structural footwall to the north that are equally as prospective. GSP also plans to drill a new porphyry target defined through compilation of historic drilling data, and recently advanced by follow-up rock and grid soil sampling as part of the first phase of 2026 drilling. Follow-up soil and rock sampling at Mer targeted the area of historic drilling and defined an approximately 175 x 120 metre copper anomaly that is open to the northwest. Rock sampling at the historic Mer showing yielded 12 samples returning between 0.14 and 1.02% Cu, and averaging 0.4% Cu; in addition to TerraSpec analysis yielding paragonitic muscovite and magnesium-iron chlorite compositions suggesting a higher-temperature proximal porphyry environment. The Mer Property comprises 185 hectares in the Kamloops Mining Division, located approximately 1.5 km NW of GSP’s Alwin Mine Project and is surrounded by Teck Resources’ Highland Valley Copper claim group directly west and south of the Highland Valley Copper Mine’s active operations. The Mer Property hosts a copper exploration target zone located NW of the Company’s Alwin Mine high-grade copper-silver-gold target zone. The permit provides for an initial year-one diamond drilling program, followed by permitting sufficient surface disturbance to support anticipated expansion diamond drilling within the following four years of the permit. The Property is well-accessed via existing logging roads that traverse the proposed drilling area where prior logging activities and excavator trenching have exposed a zone of copper mineralization at surface. The Mer Claims were the subject of intensive exploration by the Cleveland Mining & Smelting Co. Ltd. between the years 1965 and 1971. During that time exploration within the current Mer and surrounding claims now held by Teck Highland Valley Copper Corporation comprised geochemical and IP/resistivity geophysical surveys, geologic mapping, bulldozer trenching, completion of sixteen percussion drill holes totalling 610 metres (m), and a single 150 m diamond drill hole targeting the Mer showing. Percussion and diamond drilling were reported to define a 70 x 120 metre northeast-trending porphyry copper-molybdenum zone characterized by disseminated chalcocite, chalcopyrite, bornite and molybdenite mineralization and associated biotite and sparse potassic alteration. At the Mer showing, historical percussion drill holes 1, 3, 15, and 16, forming a 70 x 40 m diamond pattern in plan, returned values of 9 m averaging 0.47% copper (Cu); 30 m averaging 0.53% Cu; 15 m averaging 0.50% Cu; and 21 m averaging 0.51% Cu respectively, commencing at downhole depths ranging from 6 to 18 m. A single diamond drill hole was centred on the percussion drill holes and intersected a zone of chalcocite mineralization within biotite and potassic altered granodiorite intrusive rocks averaging 0.29% Cu over 24 m from a downhole depth of 9 m. The zone of mineralization remains open to the north and west. No significant exploration has been reported within this project since the initial work programs ending in the early 1970s. Given the presence of drill-confirmed porphyry copper-molybdenum mineralization, a location six kilometres west of the Valley Pit at Teck Resources Limited’s Highland Valley Copper Operations, and its position within the Chataway and Guichon granodiorite phases of the Guichon Batholith, the Mer Project is a high priority for follow-up exploration. New Risk • May 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$6.34m market cap, or US$4.60m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Announcement • May 15
GSP Resource Corp. announced that it has received CAD 1.22 million in funding GSP Resource Corp. announces that it has closed an over-subscribed non-brokered private placement to issue 3,633,333 flow-through common shares of the Company at a price of CAD 0.15 per FT Share for proceeds of CAD 544,999.95 and 5,625,000 units of the Company at a price of CAD 0.12 per Unit for proceeds of CAD 675,000 for aggregate gross proceeds of CAD 1,219,999.95 on May 14, 2026. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of CAD 0.18 for a period of 3 years from the closing of the Private Placement. In connection with the Private Placement, the Company paid aggregate cash finder’s fees of CAD 31,451.12 and issued 213,274 non-transferable broker warrants to certain brokers and finders, 195,247 of which are exercisable at a price of CAD 0.15 per share and 18,000 of which are exercisable at a price of CAD 0.12 per share, for a period of 3 years from the closing of the Private Placement. All securities issued under the Private Placement and any common shares of the Company that are issuable upon the exercise of Warrants and Broker Warrants are subject to statutory hold period of four months and one day following the closing date of the Private Placement in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. 
