Gold Springs Resource Corp. has received drill results from 8 additional holes of its 2022 drilling program around the South Jumbo Resource at its large Gold Springs project located in USA, on the border of Nevada and Utah. Highlights include: 0.59 g/t gold equivalent over 18.3 meters and 0.61 g/t gold equivalent over 9.1 meters in hole E-22-007, 1.37 g/t gold equivalent over 4.6 meters in hole E-22-009, 0.72 g/t gold equivalent over 27.4 meters including, 2.47 g/t gold equivalent over 4.6 meters and 0.66 g/t gold equivalent over 6.1 meters and 0.59 g/t gold equivalent over 18.3 meters in hole E-22-012, 0.79 g/t gold equivalent over 19.9 meters in hole E-22-014.

Gold equivalent based on USD 1,800/oz gold, USD 25/oz silver and 50% for silver recovery. The 2022 drilling program is progressing well as the Company completed 2 first holes in the untested Snow target, 13 new holes around the North Jumbo resource and 9 holes looking to expand the Charlie Ross resource discovered by the 2021 drilling program. The diamond Core Drill is now onsite, and the Company has just completed the first hole on the Tremor target discovered in 2021 and now part of the North Jumbo resource.

The CSAMT ground based geophysical survey is well underway to cover most of the 33 identified targets and will help direct future drilling and identify potential new areas of gold mineralization under shallow post-mineral materials. GRC has now completed 44 holes for a total of 9,317 meters of the planned 20,100 meters RC drilling program. Assays have been received for the first 14 holes, all from the South Jumbo resource area.

The Gold Springs project encompasses nearly 8,000 ha within the Great Basin of Nevada and Utah. Thus far 6 resources have been developed on outcropping low sulfidation epithermal gold systems which are mostly oxidized, and 33 targets have been already identified on approximately 40% of the property. The 2022 drilling program was designed to expand the 6 existing resources and to test several new targets including the Snow, Midnight, and the Horseshoe Extension.

During the 2021 drill campaign GRC made 3 new discoveries, all of which became new resources or merged with existing ones as reported in the last resource update issued July 11, 2022.