Mr. Antonio Canton reports

GOLD SPRINGS RESOURCE CORP. FILES Q3 2023 FINANCIAL STATEMENTS AND MD&A

Gold Springs Resource Corp. has released its unaudited consolidated financial statements for the three months ended Sept. 30, 2023 and the related management's discussion and analysis of financial position and results of operations (MD&A). In this press release, all amounts are expressed in United States dollars, unless otherwise indicated.

During the nine months ended Sept. 30, 2023, general and administrative expenses, excluding non-cash share-based payments, decreased to $450,000 compared with $510,000 during the nine months ended Sept. 30, 2022. During the three months ended Sept. 30, 2023, general and administrative expenses, excluding non-cash share-based payments, decreased to $120,000 compared with $150,000 during the three months ended Sept. 30, 2022. Exploration spending during the nine months ended Sept. 30, 2023, decreased to $530,000 from $4.34-million incurred during the same period of last year. During the nine months ended Sept. 30, 2023, the company reported a net loss of $440,000 (nil loss per share) compared with a net loss of $900,000 (nil loss per share) for the same period in the prior year. During the three months ended Sept. 30, 2023, the company reported a net loss of $160,000 (nil loss per share) compared with a net loss of $230,000 (nil loss per share) for the same period in the prior year. As of Sept. 30, 2023, the company had cash of $300,000.

About Gold Springs Resource Corp.

Gold Springs Resource 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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