GOLD SPRNGS RESOURCE CORP - GRCAF STOCK NEWS

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) announced positive assay results from its 2021 drill program at the Charlie Ross target in Nevada, confirming gold mineralization expansion. Highlights include:

• 2.10 g/t gold equivalent over 16.7 meters in hole CR-21-017
• 2.03 g/t gold equivalent over 9.2 meters in hole CR-21-019
• 2.56 g/t gold equivalent over 10.6 meters in hole CR-21-022

The 2022 drilling campaign starts in March, aiming to extend resources and explore five new targets.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) has outlined its operational plans for 2022, focusing on enhancing the Gold Springs Project in Nevada and Utah. Key initiatives include a comprehensive drilling program aimed at expanding existing resources and verifying significant new discoveries across multiple targets. The plan features two resource updates scheduled for Q1 and Q4 2022, along with advanced geophysical surveys and strategies for mine permitting. This approach underlines the company's commitment to de-risking future operations while optimizing resource potential.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) reported significant drilling results from its Gold Springs project in 2021, completing 18,076 meters across 82 holes. Notable findings include:

• 6.87 g/t gold equivalent over 24.4 meters at Tremor.
• 5.47 g/t gold equivalent over 19.8 meters at South Jumbo.

Executive VP Randall Moore stated the focus for 2022 is on expanding existing resources and advancing the permitting process. The project is located in a favorable mining jurisdiction.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) announced positive assay results confirming a significant gold system at the 'White Point' target in Nevada, including highlights of 0.82 g/t gold equivalent over 36.6 meters in hole WP-21-005. The 2021 drilling program resulted in three significant discoveries: 'Tremor' at 1.00 g/t over 163.1 meters, 'Charlie Ross' at 1.17 g/t over 45.7 meters, and 'White Point'. The company plans to update resources in Q1 2022 and resume drilling in March. However, director Robert van Doorn has resigned from the company.

Gold Springs Resource Corp. announced significant results from drill hole J-21-015, reporting an average of 1.0 g/t gold equivalent over 163 meters. This confirms a new Intrusive-Related Gold System (IRGS) at the Tremor target, expanding potential gold resources in the Gold Springs project along the Nevada-Utah border. Highlights include up to 3.26 g/t gold equivalent over 10.7 meters. GRC plans further drilling, awaiting assays from 24 additional holes to enhance resource estimation.

Gold Springs Resource Corp. (OTCQB: GRCAF) announced its financial results for Q3 2021, reporting a net loss of $1.14 million compared to a loss of $0.83 million in Q3 2020. The company held $3.02 million in working capital, including $2.0 million in cash. Exploration expenses increased to $2.44 million from $0.91 million year-over-year. General and administrative costs decreased to $0.53 million from $0.56 million. The company aims to expand resources at its Gold Springs project in Nevada and Utah.

Gold Springs Resource Corp. (TSX: GRC, OTCQB: GRCAF) announced receiving CAD$ 4.36 million from the sale of World Copper Ltd. securities. This non-dilutive funding aims to boost the development of the company's Gold Springs project. The positive results from the North Jumbo and Charlie Ross drilling campaigns are encouraging, with notable gold equivalent grades reported. Future assays from White Point and follow-up drilling in North Jumbo are anticipated, with significant potential for resource expansion.

Gold Springs Resource Corp. (GRCAF) announced a significant gold discovery at the Charlie Ross target in Nevada, featuring intercepts of 1.17 g/t gold equivalent over 45.7 meters and 1.26 g/t over 15.3 meters. The results surpassed current resource grades, indicating potential for further mineralization. Drilling continues at North Jumbo, where previous holes showed promising results including 5.95 g/t gold. The company plans additional drilling at Charlie Ross to follow up on these findings, showcasing its commitment to exploring its identified targets effectively.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) has completed 9 drilling holes at the White Point target as part of its 2021 RC drilling program at the Gold Springs project on the Nevada-Utah border. The drilling program covers 27,300 meters, with initial results indicating significant vein intervals averaging 67.4 meters, and notable historical grades of up to 13.9 g/t gold. The company remains optimistic as it anticipates assay results by October, which could lead to further exploration based on the strong gold correlation from surface samples.