Gold Springs Resource TSX:GRC Stock Report

Gold Springs Resource Corp. Receives Assays from the Final Drill Holes At South Jumbo Resource in Border of Nevada and Utah

Gold Springs Resource Corp. has received assays from the final drill holes at South Jumbo as part of the 2022 drill campaign on its large Gold Springs project located in USA, on the border of Nevada and Utah, one of the best mining jurisdictions in the world. Highlights include: 0.83 g/t gold equivalent over 18.3 meters including 1.89 g/t gold equivalent over 6.1 meters in hole E-22-015; 0.75 g/t gold equivalent over 6.1 meters in hole E-22-017; 0.53 g/t gold equivalent over 13.8 meters and 0.96 g/t gold equivalent over 6.1 meters in hole E-22-018; 1.05 g/t gold equivalent over 4.6 meters and 0.74 g/t gold equivalent over 26.0 meters in hole E-22-020. Gold equivalent based on USD 1,800/oz gold, USD 25/oz silver and 50% for silver recovery. GRC has now demonstrated the extension of gold mineralization in three different directions and also at depth. To the North the extension is significant as the hole E-22-020 with 1.05 g/t AuEq over 4.6 meters and 0.74 g/t AuEq over 26 meters is 80 meters north from the existing resource.

Gold Springs Resource Corp. Receives Drill Results from 8 Additional Holes of its 2022 Drilling Program Around the South Jumbo Resource at its Large Gold Springs Project Located in USA

Gold Springs Resource Corp. has received drill results from 8 additional holes of its 2022 drilling program around the South Jumbo Resource at its large Gold Springs project located in USA, on the border of Nevada and Utah. Highlights include: 0.59 g/t gold equivalent over 18.3 meters and 0.61 g/t gold equivalent over 9.1 meters in hole E-22-007, 1.37 g/t gold equivalent over 4.6 meters in hole E-22-009, 0.72 g/t gold equivalent over 27.4 meters including, 2.47 g/t gold equivalent over 4.6 meters and 0.66 g/t gold equivalent over 6.1 meters and 0.59 g/t gold equivalent over 18.3 meters in hole E-22-012, 0.79 g/t gold equivalent over 19.9 meters in hole E-22-014. Gold equivalent based on USD 1,800/oz gold, USD 25/oz silver and 50% for silver recovery. The 2022 drilling program is progressing well as the Company completed 2 first holes in the untested Snow target, 13 new holes around the North Jumbo resource and 9 holes looking to expand the Charlie Ross resource discovered by the 2021 drilling program. The diamond Core Drill is now onsite, and the Company has just completed the first hole on the Tremor target discovered in 2021 and now part of the North Jumbo resource. The CSAMT ground based geophysical survey is well underway to cover most of the 33 identified targets and will help direct future drilling and identify potential new areas of gold mineralization under shallow post-mineral materials. GRC has now completed 44 holes for a total of 9,317 meters of the planned 20,100 meters RC drilling program. Assays have been received for the first 14 holes, all from the South Jumbo resource area. The Gold Springs project encompasses nearly 8,000 ha within the Great Basin of Nevada and Utah. Thus far 6 resources have been developed on outcropping low sulfidation epithermal gold systems which are mostly oxidized, and 33 targets have been already identified on approximately 40% of the property. The 2022 drilling program was designed to expand the 6 existing resources and to test several new targets including the Snow, Midnight, and the Horseshoe Extension. During the 2021 drill campaign GRC made 3 new discoveries, all of which became new resources or merged with existing ones as reported in the last resource update issued July 11, 2022.

Gold Springs Resource Corp. Elects Laurent Arnoux as Director

Gold Springs Resource Corp. Releases A Significant Updated Mineral Resource Estimate for its Gold Springs Project

Gold Springs Resource Corp. released a significant updated mineral resource estimate for its Gold Springs Project, taking into consideration all the 2021 drilling results at North and South Jumbo, Tremor, Charlie Ross, and White Point. Only by visiting the area, one can realize the magnitude of its project, which covers approximately 8,000 ha and includes not 1 or 2 targets, but 33 high-potential gold targets, 6 of which already host a resource estimate of 1,005,003 M&I oz and 144,379 inferred oz of gold equivalent open to expansion and covering only 15% of the property. As the resources are near the surface, they could be mined by shallow open pit and a technically simple heap-leach operation. The size of the Gold Springs Project, the important number of gold targets, the technical data available so far, the water rights, and its location in one of the best mining jurisdictions in the world, are strong indicators that GRC has a large gold project with a significant growth potential. The inferred resource is in addition to the measured and indicated resource. Numbers have been rounded, which may lead to some numbers not adding up exactly. Gold Equivalent calculation uses a gold/silver price ratio of 72 ($1,800/$25). Mineral resources that are not mineral reserves do not have demonstrated economic viability. The resource estimate reflects gross metal content that is not adjusted for metallurgical recoveries. The new mineral resource estimate is an update from the 2020 mineral resource estimate to mainly incorporate the drilling information of the 2021 drill program conducted at the South and North Jumbo, Tremor, Charlie Ross and White Point deposits.

Gold Springs Resource Corp. Receives First Assays from 2022 Drill Program at South Jumbo

Gold Springs Resource Corp. has received drill results from the first 6 holes of the 2022 drilling program around the South Jumbo resource of its large Gold Springs project located in USA, on the border of Nevada and Utah, one of the best mining jurisdictions in the world. Highlights include: 1.08 g/t gold equivalent over 15.3 meters and 0.74 g/t gold equivalent over 15.3 meters in hole E-22-001. 1.46 g/t gold equivalent over 9.2 meters and 0.95 g/t gold equivalent over 9.2 meters in hole E-22-002. 1.36 g/t gold equivalent over 27.4 meters and 1.38 g/t gold equivalent over 6.1 meters in hole E-22-003. 0.68 g/t gold equivalent over 12.6 meters and 0.74 g/t gold equivalent over 13.7 meters in hole E-22-004. Gold equivalent based on $1,800/oz gold and $25/oz silver. GRC has now completed 14 holes for a total of 2,828 meters of the planned 20,100 meters RC drilling program. Assays have been received for the first 6 holes from the South Jumbo resource area, which were designed to expand the resource at depth and along strike. An additional 3 holes will be completed at South Jumbo before the drill moves to the Snow target for 2 holes, followed by the Charlie Ross target which was a new discovery in 2021.