Mr. Antonio Canton reports

GOLD SPRINGS RESOURCE A SIGNIFICANT HIGH-GRADE EXTENSION OF THE NORTH JUMBO DEPOSIT

Gold Springs Resource Corp. has released new assay results, confirming a significant 425-metre higher-grade southward extension of the North Jumbo deposit at its large Gold Springs project located in the United States, on the border of Nevada and Utah.

Highlights include:0.84 g/t gold equivalent over 9.2 meters and0.89 g/t gold equivalent over 9.2 meters and0.81 g/t gold equivalent over 9.1 meters and2.45 g/t gold equivalent over 22.9 meters including3.98 g/t gold equivalent over 12.2 meters in hole J-22-0201.36 g/t gold equivalent over 4.6 meters and1.03 g/t gold equivalent over 3.0 meters in hole J-22-019

Gold equivalent based on US$1,800/oz gold, US$25/oz silver and 50% for silver recovery.

Randall Moore, Executive Vice President of Exploration, stated:

"We are very excited by these last drilling results at North Jumbo, as they clearly confirm the new higher-grade structural block discovered in 2022, expanding our North Jumbo deposit 425 meters further south, where it remains open.

In our press release dated 19.09.2022, we reported two holes that discovered a new area of higher-grade gold mineralization extending 200 meters south of the North Jumbo Resource:1.87 g/t AuEq over 29.0 meters including 3.73 g/t AuEq over 9.2 meters in hole J-22-005.0.57 g/t AuEq over 41.2 meters and 1.88 g/t AuEq over 6.1 meters in hole J-22-004.

New hole J-22-020, which returned 2.45 g/t AuEq over 22.9 meters including 3.98 g/t AuEq over 12.2 meters, extends this higher-grade gold system by a further 225 meters for a total significant extension of our North Jumbo deposit of 425 meters to the south."

The North Jumbo Resource is the largest of our six existing M&I resources with 309,000 ounces of gold and 6,718,000 ounces of silver, according to our latest resource estimate based on drilling up to 2021 and without results from 2022-2023 in this high-grade southern extension (please see detailed table below and GRC's press release dated June 13, 2022 concerning our last mineral resource estimate).

North Jumbo

The North Jumbo Resource is located on the Utah side of the Gold Springs project at the northern end of the +5-kilometer-long Jumbo Trend which is defined by a very strong and well-developed CSAMT high resistivity anomaly.

The North Jumbo Resource based on drilling up to 2021 extends over a north-south strike length of 1,800 meters. The drill holes J-22-004, J-22-005 and J-22-020 extend the deposit in a higher-grade gold system 425 meters to the south. The North Jumbo deposit remains open to the north and to the southwest.

Future drilling will focus on continuing to expand the gold mineralization of the North Jumbo Resource to the south and to the north, where a new gold system the company considers an Intrusive-Related Gold System (IRGS) was discovered in 2021 with the hole J-21-015 which intersected 1.0 g/t gold equivalent over 163.1 meters.

True thickness is estimated to be 60-100% of reported length. Grams per tonne of gold and silver abbreviated as "Au g/t" and "Ag g/t" respectively. Gold equivalent based on US$1,800/oz gold, US$25/oz silver and 50% for silver recovery.

Qualified Person

Randall Moore, Executive Vice-President Exploration, Gold Springs Resource Corp., is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. He has approved the scientific or technical information in this release and has verified the data disclosed in this release for its geological reasonableness, checked all the inputs and verified the analytical data through an analysis of the blanks and standards submitted with the drill-chip samples.

Quality Assurance and Quality Control

Approximately 7 kg of RC chips were sent to the laboratory for each 1.52 meters drill interval. Standards and blanks are submitted into the sample stream at the rate of 15% for QA/QC purposes. In addition, the laboratory also includes duplicates of samples, standards and blanks. The results of these check assays are reviewed prior to the release of data. All RC sample assays are also reviewed for their geological context and checked against the drill logs.

Assay Method

Assays were performed in Reno, Nevada by ALS Geochemical, an ISO 9001:2000 certified and independent laboratory. Gold was analyzed by fire assay of a 30-gram sample with an AAS finish with samples assaying greater than 5 g/t re-assayed using a 30-gram sample and a gravity finish. Silver is analyzed by a four-acid leach ICP method.

About Gold Springs Resource Corp.

Gold Springs Resource Corp. (TSX:GRC and OTCQB:GRCAF) is focused on the exploration and expansion of the gold and silver resources of its Gold Springs project located on the border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western USA, one of the best mining jurisdictions in the world.

We seek Safe Harbor.