Mr. Simon Dyakowski reports

GSP RESOURCE CORP. 2023 DRILL PROGRAM INTERSECTS SULPHIDE MINERALIZATION AT ALWIN MINE COPPER-SILVER-GOLD PROJECT

GSP Resource Corp. has successfully completed its surface diamond drill program at the Alwin mine project. The 2023 drill program consisted of five drill holes and was designed to target potential extensions of known high-grade copper zones at the Alwin property located in the Highland Valley copper camp of British Columbia.

All five 2023 drill holes exhibited visual sulphide mineralization intervals interpreted to be part of or adjacent to the historic 4 zone (see attached table). Observed pyrite, chalcopyrite, bornite and molybdenite mineralization exhibited structurally controlled (in the form of millimetre-scale to centimetre-scale vein sets, fracture and fault infill) as well as fine to coarsely disseminated, domanial and blebby textures.

GSP's president and chief executive officer, Simon Dyakowski, commented: "Our team is excited to share the preliminary results of the 2023 drill program. We look forward to providing further updates as we receive analytical assay results for the five 2023 drill holes. The primary objective of the 2023 drill program was to drill test the Alwin 3-D copper mineralization vein model recently developed for the high-grade past-producing Alwin copper mine with a focus on evaluating the upper and lower extents of the unmined historic 4 zone. The potential to further expand the multiple parallel polymetallic mineralization zones at Alwin remains a significant exploration upside that requires further confirmation drilling. Potential new zones previously identified from historic drill holes to the northwest, south and at depth of the historic mine area remain untested and will be targeted with additional drilling in 2024."

A total of five HQ-size diamond drill holes were completed totalling 640 metres. Drilling was completed from three sites along a strike length of approximately 100 metres, including the upper and lower levels of the 4 zone (see attached table). Drill core samples included implementation of quality assurance and quality control (QA/QC) procedures, including the insertion of blanks, standards and core duplicates at regular intervals into the sample stream. Drill core samples were submitted to ALS Global Labs in North Vancouver and results will be released once available.

About the Alwin mine project

The Alwin mine copper-silver-gold property is approximately 575.72 hectares and is located on the semi-arid, interior plateau in south-central British Columbia. The historic underground mine was developed over 500 metres long by 200 metres wide by 300 metres deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totalling 233,100 tonnes that milled 3,786 tonnes of copper, 2,729 kilograms of silver and 46.2 kilograms of gold. The average diluted head grade was 1.5 per cent copper.

The Alwin property is adjacent to the western boundary of Teck Corp.'s Highland Valley mine, the largest open-pit porphyry copper-molybdenum mine in Western Canada. Alteration and mineralization of the Highland Valley hydrothermal system extend westward from the Highland Valley mine onto the Alwin property (see GSP's news release dated Jan. 30, 2020).

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, PGeo (British Columbia), principal and consultant of Apex Geoscience Ltd. of Edmonton, Alta., a consultant to the company and a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which included a review of the sampling, analytical and test data underlying the information and opinions contained herein. Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Alwin property.

About GSP Resource Corp.

GSP Resource is a mineral exploration and development company focused on projects located in southwestern British Columbia. The company has an option to acquire a 100-per-cent interest and title to the Alwin mine copper-gold-silver property in the Kamloops mining division as well as an option to acquire a 100-per-cent interest and title to the Olivine Mountain property in the Similkameen mining division, of which it has granted an option to earn a 60-per-cent interest to a third party .

We seek Safe Harbor.