New Gold Mineralization Area Identified At North Jumbo

VANCOUVER - Gold Springs Resource Corp. has received assays from the first 2022 drill holes at North Jumbo confirming the possibility for a significant southward extension of the North Jumbo Resource within the Gold Springs project located on the border of Nevada and Utah.

Randall Moore, Executive Vice President of Exploration, said, "We are very excited about the results of the first holes completed in 2022 at North Jumbo as they confirm: 1) The discovery of a new gold mineralization area extending 200 meters south of our North Jumbo Resource (holes J-22-004 & J-22-005) in a new structural block that was never drilled before. 2) The extension of the North Jumbo Resource in a parallel western mineral block (J-22-001, J-22-006, and J-22-007). 3) The extension of gold mineralization in the southern portion of the North Jumbo Resource as our model predicted (Hole J-22-008).

All these holes have thick sections of gold mineralization and higher-grade intervals than our existing resource. The 2022 drill program is advancing as we hoped, and our resource models are being confirmed and refined by all these positive drill results: 1) At South Jumbo, we have identified a significant extension of that system 50 meters to the north with hole E-22-020 returning 0.74 g/t gold equivalent over 26.0 meters. We have now completed two more holes and a third one is in progress with the objective of extending the resource 200 meters to the north. 2) At North Jumbo, we drilled into a new structural block extending gold mineralization 200 meters south of the North Jumbo Resource with hole J-22-005 returning 1.87 g/t gold equivalent over 29 meters including 3.73 g/t over 9.2 meters, and with hole J-22-004 returning 0.57 g/t gold equivalent over 41.2 meters and 1.88 g/t over 6.1 meters. 3) Within the 5 km Jumbo Trend, we are currently constructing new drill pads to follow up these positive results, with the ambition of continuing to extend the gold mineralization from the North Jumbo Resource (1.8 km long) to the south and the South Jumbo Resource (1.3 km long) to the north."

The Company has now completed 56 holes totaling 11,990 meters of the planned 21,000-meter program. Drilling has targeted the North and South Jumbo resources, the Charlie Ross target and the Snow target, which saw its first ever drilling. Drills will soon be moving to the Red Light target followed by the Horseshoe Extension.