Gold Springs Resource Corp. T.GRC

RE:Do you smell that?

[123buyholdhope]

Dear Shareholders, Ladies and Gentlemen,

We are pleased that our 2021 drilling program of 27’300 meters is advancing according to our plan with the goal to:

1. Expand our 4 existing resources of 874’000 oz gold equivalent with an actual NPV of $200 million (2020 PEA with 5% after-tax - $1’600 gold price per oz - 766,000 oz M&I and 108,000 oz Inferred).
2. Explore 4 new targets with high grades on the surface and significant potential (Charlie Ross, White Point, Midnight and North Jennie).

Antonio Canton - President and CEO

Gold Springs Resource
News from its drilling activities at Charlie Ross 

Vancouver, August 19, 2021

Gold Springs Resource Corp. (TSX: GRC, OTCQB: GRCAF) (the “Company”), has now completed 9,500 of its 27,300 meters 2021 RC drilling program at its flagship Gold Springs project located in USA on the border of Nevada and Utah, one of the best mining jurisdictions in the world.
 

Randall Moore, Vice President of Exploration stated: “We have just completed 13 holes within the previously undrilled Charlie Ross target and we are encouraged by the thickness of the strongly altered zones we are seeing from our drilling. The silicified portions of the holes are exactly what we were hoping to see, and they correlate very well with the CSAMT high resistivity anomaly. Now, we look forward to the assay results in October”.

Charlie Ross Target

Charlie Ross is located in Nevada, 2,000 meters west of the North Jumbo resource area. In 2020, the Company completed a CSAMT ground-based geophysical survey (Controlled-Source Audio-Magnetotelluric) covering different portions of the property. Within Nevada, the survey covered the cluster of targets consisting of Charlie Ross, Pope, Tin Can, and Red Light and the results show that they all are underlain by a single large CSAMT high resistivity anomaly. The underlying resistivity anomaly covers an area measuring 650 meters east-west and 750 meters north-south creating a single very large target which we will refer to from now on as the Charlie Ross target. There is a close correlation between high resistivity and gold mineralization as seen at existing resources currently defined at Gold Springs (see press release September 2, 2020).

The 13 holes drilled are all located over the southern portion of this large target and cover an area extending 500 meters east-west and 250 meters north-south. Ten holes intersected two flat lying, stacked, strongly silicified and brecciated zones with intermittent veining and some larger vein intercepts of up to 4 meters. The upper zone is approximately 25 meters thick and the lower zone averages 75 meters in thickness. The alteration in these holes is similar to that seen at the North and South Jumbo resource areas and the larger veins have characteristics of the historic mines in the distric. For more information, please visit:

GLTA - https://twitter.com/EarthsRare