New Areas Identified For Drilling At The South Jumbo Resource Area

VANCOUVER - Gold Springs Resource Corp. announced 2022 drilling plans for the "South Jumbo" resource located on the Utah portion of the large 8000 ha Gold Springs Project located in the western Great Basin, U.S. Antonio Canton, President, and CEO, said, "After updating the model of the South Jumbo resource with the 2021 drill results, our team has identified new areas for our 2022 drilling program. We are excited to drill in April at "South Jumbo", on the southern end of the 8 kilometer long Jumbo Trend, as it is an important target for our Company's 2022 objective to expand our gold resource to a level where we think our company will be attractive to major gold mining companies."

The 2021 drilling was able to demonstrate the extension of gold mineralization to the south, at depth, and within the gap zone between the two resource pods. The system remains open to the south, where it extends into a large area of post-mineral cover. The southernmost hole E-21-009 intercepted 0.57 g/t Au and 8.0 g/t Ag over 13.7 meters. Due to poor drilling conditions, many of the holes designed to extend the system to depth were lost before they reached the target. Nevertheless, the hole E-21-012 did enter the target but was lost in a zone that ran 5.2 g/t Au and 12.4 g/t Ag over 19.8 meters at the bottom of the hole.

GRC was successful in demonstrating the presence of good gold values within the gap zone of the two lobes of the South Jumbo resource. This area was not drilled in the past as it awaited cultural clearance which was obtained in 2020. Hole E-21-004 targeted this gap area returning 1.58 g/t Au and 8.3 g/t Agover 7.6 meters and @ 0.97 g/t Au and 2.6 g/t Ag over 13.6 meters. Additional holes will be drilled in 2022 to finish connecting the two lobes of the South Jumbo resource, which could have a significant impact on the resource update.

A total of 12-15 holes are planned for a first phase of the resource expansion effort at South Jumbo. Once these holes are completed and assays are received, a second phase of drilling will be designed to further expand the resource. During the first two months of the drilling season, GRC will be focused on "South Jumbo" and the new discovery at "Charlie Ross", where an additional 15-20 holes are planned for phase one of that program.