Continued High-Grade Sample Results From Priority Targets At The Flagship Project

VANCOUVER, BC - Gold Springs Resource Corp. (GRC) reported high-grade rock chip sampling results from the historic Pope, Red Light, Charlie Ross, and Tin Can targets located on the Nevada side of the Gold Springs Project. Vein zones returned grades as high as 20.2 g/t Au and 233.6 g/t Ag from Pope, 33.1 g/t Au and 69.4 g/t Ag from Red Light, 17.16 g/t Au and 45.1 g/t Ag from Charlie Ross, and 5.2 g/t Au and 61.5 g/t Ag from Tin Can.

GRC's ongoing field activities continue to focus on detailed mapping and sampling of priority targets within the large Gold Springs project land package and to prepare these targets for future drill programs. Field work has recently concluded on the Pope, Charlie Ross, Red Light, and Tin Can targets, all of which returned high-grade gold and silver values and are considered priority future drill targets.

These targets are clustered together with a close spatial relationship to both the margin and radial fracturing of the Gold Springs caldera. While the targets are in the same general area, they represent differing styles of mineralization. The area is significant in that it represents the only fully preserved stratigraphic sequence of the Gold Springs caldera system. The Pope is located at the top of this sequence in a welded tuff, followed by the Charlie Ross in a non-welded tuff, then the Red Light where mineralization is at the contact between the Charlie Ross non-welded tuff and the underlying andesite. The andesite unit hosts the mineralization seen at the Tin Can and is also the host of the four current resources in the project.

Matias Herrero, President and CEO, said, "GRC's ongoing field work continued to produce high-grade gold values from the surface sampling program and to advance the high-priority drill targets. We are demonstrating the potential for the overall project area to host multiple deposits. Our work thus far has developed 4 resource areas open to expansion and with our current field activities we are readying other highly prospective targets for drill programs. The Pope, Charlie Ross, Red Light, and Tin Can targets are unique at Gold Springs in that they have a similar geological setting to the deposit of the Round Mountain gold mine in central Nevada. These targets will be tested by future drilling programs as we work to expand our resource base, and further enhance the value of the Company."

Pope mine is located on the margin of the collapsed Gold Springs caldera and 500 meters northeast of the Charlie Ross Target. Mineralization at the Pope Target is hosted in a welded tuff where radial faulting attributed to caldera collapse has structurally prepared the host rock creating pathways for mineralizing fluids. Veins filling these fractures were historically exploited by a shaft, tunnels, and long slot cuts on surface.

High-grade mineralization is hosted within these thin (<0.5-meter-wide) banded and bladed quartz veins and returned grades as high as 20.2 g/t gold. The host rock is a welded tuff containing irregular and discontinuous quartz stringers. Altered, welded tuff host rock displaying brecciation and stockwork veining are characteristic of a lower grade disseminated target with one sample containing 0.53 g/t gold.

The Charlie Ross shaft is located 500 meters southwest of the historical Pope mine. Mineralization at the Charlie Ross Target is hosted within a non-welded tuff that is stratigraphically below the welded tuff units of the Pope Target. The non-welded tuff is significant in that it is a highly porous unit that would be favorable for migrating gold bearing fluids trapped below the Pope welded tuff. This would create a bulk target which generally does not outcrop. Samples within altered tuff units grade as high as 1.27 g/t gold. One sample of a massive quartz vein boulder returned 17.16 g/t gold in an area of mixed tuff float cover. Sample results have revealed promising mineralization within tuff units and high-grade vein targets. A total of 47 rock-chip samples were collected from the Charlie Ross Target with 6 samples returning values above the resource cut-off grade of 0.25 g/t Au.

Mine workings of the Red Light Target are located 400 meters to the west of the Pope mine. The target area is located along a northeast trending fault valley. The contact between tuff units and the underlying andesite, where the mineralized horizon occurs, is exposed in two of the historical shafts along this fault. Stockwork and silicified breccias are observed in the andesite in several trench cuts and mine dumps. Banded and bladed white quartz veins are found in outcrop within mine trenches and generally strike north-south. Together, mine workings span a distance of 150 meters over a width of 50 meters before being lost under post mineral cover.

A total of 15 samples were collected from the Red Light Target. One sample returned values above the resource cut-off grade of 0.25 g/t Au and contained 33.1 g/t gold. The sample is a select sample of vein material collected from the edge of one of the shafts exposing the tuff/andesite contact signifying that this contact is a significant pathway for mineralizing fluids.

The Tin Can Target is hosted within andesite flows similar to the current Gold Springs resources. The gold mineralization at Tin Can is associated with a strong north-south structural zone which also controls the mineralization at the historic Little Buck Mine and is highlighted by both ZTEM and CSAMT geophysical resistivity anomalies. Historic mining in the area was focused on a banded quartz-calcite vein up to 2 meters wide that grade up to 5.20 g/t gold and 61.5 g/t silver. This quartz-calcite vein is margined by zones of silicified breccias and stockwork veining that grade as high as 1.19 g/t gold and 46.2 g/t silver. Numerous pits, shafts and trenches follow the vein north until it disappears under post-mineral cover. Tin Can is unique at Gold Springs in that calcite-dominate sinter terraces are found which are remnants of a paleo surface hot spring environment. A fully preserved epithermal system should be found below these hot spring deposits.