Gold Springs Resource’s CSAMT Survey Highlights Drill Targets - Areas For Resource Expansion

VANCOUVER - Gold Springs Resource Corp. (GRC) has received results from the recently completed controlled-source audio-magnetotelluric (CSAMT) ground-based geophysical survey covering portions of the Gold Springs Project located in Nevada and Utah.

The CSAMT survey: Shows a high correlation between resistivity highs (anomalies) and gold-bearing drill intercepts at the North and South Jumbo resources, the Thor resource and numerous other targets; Extends the North Jumbo resistivity high 1,500 metres north and 1,000 metres south into the Central Jumbo Target; Highlights the Juniper Target outlining a large 2,000-meter-long anomaly open to the north; Defines a large 2,000-meter-long anomaly at the North Jennie Target; Identifies a large 2,000-meter-long, open anomaly at the Snow Target; & Indicates the Tin Can, Charlie Ross, Pope, and Red Light Targets may all be related to the same large system.

Matias Herrero, President and CEO, said, "The results received from the CSAMT survey show the close association between resistivity and gold mineralization demonstrating the significant size potential of the Gold Springs Project. The high resistivity anomalies observed over the North Jumbo resource and its extension, and over the Juniper target, North Jennie, Tin Can, and the Snow target were beyond our expectations. Particularly exciting is the size and strength of the Juniper anomaly which now extends for 2,000 meters along strike and is still open for expansion to the north."

The survey was designed to cover the Central Jumbo target, filling a gap in a previous survey. It also expanded the previous survey west from the South Jumbo resource to cover the Fitch and Snow targets and extend coverage north from the North Jumbo resource testing for its extension and covering the Juniper and Declaration targets and possible extensions.

The CSAMT survey now covers 5,800 meters along the Jumbo trend and is open to the north. It mapped a high resistivity zone the length of the Jumbo trend extending it another 1,000 meters to the north where it remains open. The survey also identified high resistivity extensions into the northern portion of the Central Jumbo target and mapped the major structures through this area which control gold mineralization to the north and south. This new information will help guide the next drill program targeting Central Jumbo.

GRC has looked at the gold distribution within the resource areas and the relationship to the resistivity. This comparison demonstrates a strong correlation between gold values and resistivity highs. It also demonstrates the extensive areas yet to be drill-tested. GRC has now mapped a resistivity anomaly extending 1,500 meters north, merging with the Juniper Target and 1,000 meters south of the current 1,500-meter-long North Jumbo resource. The Juniper, Snow, and North Jennie anomalies are all 2,000 meters in length with Juniper and Snow still open to expansion along strike. Width of the anomalies for these targets vary from 500-1,000 meters at Juniper, 400-700 meters at Snow, and 500-1,000 meters at North Jennie.

Comparing the relationship between the targets and the resistivity signature as seen in the cross sections, it is clear there is a close correlation between the targets GRC has outlined in the recent press releases and the resistive material as defined in the CSAMT survey. Many of these targets have limited surface exposure due post-mineral cover and yet they have large scale resistivity anomalies associated with them beneath that cover. These are highlighted on the plan map and cross sections through the Juniper, North Jennie, Snow, Red Light-Pope, and the Tin Can targets.