GOLD SPRNGS RESOURCE CORP - GRCAF STOCK NEWS

Antonio Canton announced ownership of 30,181,480 common shares of Gold Springs Resource Corp. after acquiring 24,854,288 shares at CAD$0.11 each for CAD$2,733,971 on May 6, 2021. This purchase represents 9.96% of the company's outstanding shares, increasing his total stake to 12.10% on a non-diluted basis and 14.03% on a partially-diluted basis. Mr. Canton, an active director for over 10 years, intends to hold his shares for investment purposes and is open to acquiring more in the future.

Gold Springs Resource Corp. (OTCQB:GRCAF) announced progress on its 10,000-metre drilling program at the Gold Springs project, covering 2,522 meters across 15 holes. Recently drilled holes focused on the South Jumbo resource area, with 3 holes unable to reach target depth due to drilling conditions. All holes displayed signs of mineralization typically associated with the area. The company aims to extend the resource in multiple directions and has completed 25% of its drilling plan, anticipating assay results next month.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) has successfully closed a US$2 million first tranche of its private placement offering of secured rights. The proceeds will fund a comprehensive Resource Expansion Program at its Gold Springs Project on the Nevada-Utah border. The program aims to expand gold and silver resources significantly through drilling and environmental assessments. If successful, with estimates exceeding 3 million gold-equivalent ounces, the company plans to pursue a potential sale of the project. Investors received 2 million warrants in this tranche.

Gold Springs Resource Corp. (OTCQB: GRCAF) announced plans for a non-brokered private placement seeking to raise up to US$20 million. The offering consists of an initial US$10 million funding round (Series A Secured Rights) followed by another US$10 million round (Series B Secured Rights). The company aims to fund an ongoing Resource Expansion Program at its Gold Springs Project, targeting a substantial increase in gold and silver resources. The first tranche of US$2 million is expected to close soon, with a director participating in the initial funding.

Gold Springs Resource Corp. (OTCQB:GRCAF) has completed 1,253 metres in 6 holes of its 10,000-metre drill program at the Gold Springs project in Nevada and Utah. The program aims to expand mineral resources in the North and South Jumbo areas and drill the new Juniper Target. Initial findings from hole E-21-003 show visible gold and strong alteration, indicating favorable conditions for resource expansion. Despite winter weather delays, drilling continues, with assays expected by late April. The project is focused on gold and silver resources in a leading mining jurisdiction.

Gold Springs Resource Corp. (OTCQB:GRCAF) has released its audited financial results for the year ended December 31, 2020. The company's working capital stands at $1.87 million, with $1.60 million in cash. General and administrative expenses decreased to $0.97 million in 2020 from $1.26 million in 2019, while exploration spending rose to $1.30 million. The company reported a net loss of $1.35 million for 2020, significantly down from $11.80 million in 2019. The 2021 drill program commenced on March 8, aiming to enhance the Gold Springs project in Nevada and Utah.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) has initiated a 10,000-metre drill program at its Gold Springs Project in Nevada and Utah, focusing on the Jumbo Trend. The drill program aims to expand resources at the North and South Jumbo targets and will explore the Juniper target, identified through prior surveys. CEO Matias Herrero highlighted the project’s potential for gold and silver resource enhancement. The drilling process, expected to take about five months, will cover 50 holes across various extensions of the existing resources.

Gold Springs Resource Corp. (TSX: GRC, OTCQB: GRCAF) released its interim financial results for Q3 2020, reporting a working capital of $2.66 million, including cash of $2.31 million. The company reported a Q3 net loss of $0.24 million, down from a $0.05 million loss in Q3 2019, and a nine-month net loss of $0.83 million compared to $11.37 million in 2019. General and administrative expenses decreased to $0.56 million. Exploration expenditures were $0.91 million, focusing on the Gold Springs project. The annual shareholder meeting resulted in the approval of all resolutions and the election of six directors.

Gold Springs Resource Corp. (OTCQB:GRCAF) reported progress on its Snow and Gem targets in Utah, highlighting high-grade gold and silver surface samples ahead of future drilling. The Snow target, expanded to a 2,000-meter strike length via a CSAMT geophysical survey, showcases significant historical mineralization and recent assay results, including a sample yielding 6.96 g/t gold. The Gem target, intersecting major structural corridors, has also shown promising surface sample results. The ongoing investigations indicate a strong potential for high-quality gold targets.