Five Additional Targets Prepared For Drilling At Flagship Project In Nevada

VANCOUVER, BC - Gold Springs Resource Corp. (GRC) reported mapping and surface-sample results from Midnight, Lost World, White Point, Horseshoe Extension and the new Horsetail drill targets on the Nevada portion of the Gold Springs project, all of which returned high-grade gold and silver values, and are now ready for drilling.

High-grade rock chip results up to 3.94 g/t gold with 6.7 g/t silver are reported from Midnight, up to 4.43 g/t gold with 18.1 g/t silver from Lost world, up to 13.9 g/t gold with 3.7 g/t silver from White Point, up to 7.85 g/t gold with 2.4 g/t silver from Horseshoe Extension, and up to 14.2 g/t gold with 52 g/t silver from the new Horsetail target.

Matias Herrero, President and CEO, said, "GRC continues to produce excellent gold results from our surface sampling at Gold Springs and to demonstrate that the geologic setting of these drill-target areas is favorable for hosting resources similar to those recently reported in our Updated NI 43-101 Technical Report. We feel that it is important for investors to understand the quality and significance of the 29 drill-targets at Gold Springs which we believe have the potential to host multiple deposits".

GRC's efforts thus far in the 2020 field season are focused on detailed mapping and sampling of priority targets within the large Gold Springs project's land package, and to prepare these targets for future drill programs designed to expand and add to our mineral resources. With the new addition of the Horsetail target, there are now 29 drill-target areas at Gold Springs, and resources in 4 of them.

The five targets in are all associated with large through going geologic structures generally displaying wide zones of gold mineralization.

The Midnight target is located 2,700 meters west of the South Jumbo resource. The gold vein sets at the Midnight target can be traced for 650 metres along strike expanding over a width of 150 meters before being obscured by post mineral gravels in all directions. Several historic workings are centered on its vein sets and represent some of the deepest historical mine workings found on the project, though no historical information is available. The structural setting, dimensions of the exposed system, extensive historic mining and exploitation of high-grade veins all combine to make Midnight a high priority target. GRC has conducted extensive sampling of Midnight in the past, producing values up to 57.32 g/t gold with 59.4 g/t silver. Results from this year's sampling produced gold values up to 3.94 g/t.

The Lost World target is located 400 meters east of the Midnight target encompassing the hillsides and side drainages along the Gold Springs Wash which is a major geologic structure. Many high-grade samples have been collected by the Company from float and rare outcroppings consisting of veins, breccia and stockwork. These gold barring samples range up to 21.38 g/t gold with 64 g/t silver and extend over an area of 850 x 180 meters. Shallow prospecting pits are found at the Lost World target returning gold values up to 0.95 g/t. The mineralized float, the structural setting, and the target dimensions make Lost World a priority target. Recent sampling which returned values above the resource cut-off grade of 0.25 g/t Au.

White Point is located 400 meters west of the Grey Eagle resource. Historical mining activities at the White Point target focused on a 200-meter-wide zone of sheeted veins within an andesite host rock which can be traced for 400 meters on surface prior to being obscured by post-mineral cover. This cover occurs to the south and east, where it is believed that the potential extension of the sheeted vein zone is separated from the Grey Eagle resource by a tuff-filled, down-dropped fault block.

Several historical mines exploited the veins of White Point. GRC sampling has generated grades of up to 8.4 g/t gold from these historic workings. The potential for significant bulk gold mineralization is highlighted by some of GRC's past surface channel-sampling results.

The Horseshoe Extension target is located just north of the historical Horseshoe mine, which was the largest producer in the district, and continues to the southern edge of the Homestake target. The Horseshoe mine, the Homestake and the Horseshoe Extension targets are all located along the same major north-south trending fault zone. This structural corridor extends over 7 kilometers in length and host two of the three largest historical mine sites within the project boundaries. This geologic structure is well exposed on surface at the southern end, where the Horseshoe mine is located, and on the northern end, where the historical Homestake mine is situated. In between lies the Horseshoe extension where much of the area is covered by post-mineral gravels. There are numerous historical workings scattered along the 750 meter Horseshoe Extension strike length with several shafts and tunnels showing mineralized material on the dumps.

Large underground mines were historically developed north and south of this target along the same controlling structure which emphasizes the importance of this target. Recent sampling by GRC produced the following results with gold values greater than the resource cut-off grade of 0.25 g/t Au.

The new Horsetail target is located immediately west of the historical Horseshoe Mine. A large silicified andesite ridge outcrop, approximately 30 meters by 10 meters, with zones of stockwork follows a N-S trending fault zone suggesting the potential for widespread mineralization. Much of the Horsetail target area is covered by post-mineral gravels but in the area of outcrop exposure, a historical adit and shaft exploited the vein beneath. Sampling of vein material at the Horsetail target produced values as high as 14.2 g/t gold with 52 g/t silver. Horsetail represents a significant new target with the high-grade vein structure and the surrounding silicified, brecciated and stockwork veined host rock. GRC sample results with values greater than 0.25 g/t gold.