Mr. Antonio Canton reports

GOLD SPRINGS RESOURCE CORP. FILES Q1 2023 FINANCIAL STATEMENTS AND MD&A

Gold Springs Resource Corp. has released its unaudited consolidated financial statements for the three months ended March 31, 2023, and the related management's discussion and analysis of financial position and results of operations. In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.

During the three months ended March 31, 2023, general and administrative expenses, excluding non-cash share-based payments, increased to $170,000 compared with $160,000 during the three months ended March 31, 2022. Exploration spending during the three months ended March 31, 2023, decreased to $170,000 from $530,000 incurred during the same period of last year. During the three months ended March 31, 2023, the company reported a net loss of $210,000 (nil loss per share) compared with a net loss of $240,000 (nil loss per share) for the same period in the prior year. As of March 31, 2023, the company had cash of $540,000, arising primarily from the receipt of working capital advances of $500,000.

About Gold Springs Resource Corp.

Gold Springs (Toronto Stock Exchange: GRC and OTCQB: GRCAF) is focused on the exploration and expansion of the gold and silver resources of its large Gold Springs project located on the border of Nevada and Utah, United States. The project is situated in the prolific Great basin of western United States, one of the best mining jurisdictions in the world.

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