Mr. Simon Dyakowski reports

GSP RESOURCE SAMPLES 11% COPPER AND 0.65 G/T GOLD FROM SURFACE AND COMPLETES GROUND GEOPHYSICAL SURVEYS AT ALWIN MINE COPPER-SILVER-GOLD PROJECT

GSP Resource Corp. has released the assay results of surface rock grab sampling and the results of ground geophysical surveys at the Alwin mine copper-silver-gold project. The results of surface rock grab sampling, which includes a sample from the historic 3 Zone that returned 11 per cent Cu (copper) and 0.65 g/t (grams-per-tonne) Au (gold) , and the identification of magnetic low structural lineaments hosting polymetallic mineralization, point the way to enhanced drill targeting for the 2024 exploration season.

The company also announces that it has acquired additional historical exploration data for the Alwin Mine including over 200 underground geological level plans, cross and longitudinal sections. The updated geological maps have recently been digitized in preparation for addition to 3D mine planning software and will be instrumental in the continued refinement of the Alwin Mine 3D models (geological and mineralization) that are expected to continue to drive new discoveries in 2024.

The 3D modeling work completed by the company, including digital capture of over 50,000 meters of surface and underground diamond drilling, has already resulted in exploration success the with recent the fall 2023 diamond drill program that yielded some of the highest grades of copper and precious metals drilled at the Alwin Property in the project's history. Significantly, drillhole AM23-01 intersected 2.42 per cent Cu, 47 g/t Ag, and 0.57 g/t Au over 12.8 m (3.14 per cent copper-equivalent, CuEq) ; including 5.7 m averaging 5.21 per cent Cu, 103 g/t Ag and 1.22 g/t Au (6.77 CuEq) ( see GSP Resource news release dated February 20, 2024 ).

GSP's President & CEO, Simon Dyakowski, commented: "With the Copper price recently surpassing US$4/pound, now is great time own a historic high-grade copper mine in an area well suited for potential brownfield development. S&P Global Market Intelligence projects that annual global copper demand will nearly double to 50 million tonnes by 2035. Last year, global copper mine production sat at approximately 22 million tonnes, short of even the current demand.

The recent surface assay results verify and confirm the presence of exceptionally high-grade copper values at surface, reaffirming the potential of the historic mineralized zones targeted during past underground development.

Ground surveys have delivered a modern orientation survey over the known historic mineralized area. The magnetic response successfully delineated subsurface structures that host copper and polymetallic mineralization. Future geophysical and geochemical surveys over a larger area of the Alwin Property are planned to expand on the results to identify additional structures with the potential to host mineralization."

During the Fall 2023 exploration season, select grab samples were collected from the surface expression of the historic 3 Zone mineralized structure from previously unsampled trenches excavated in 1993 testing the surface expression of the historic 4 Zone. (Figures 1 and 2; Table 1).

In addition to grab samples, an orientation ground geophysical program totaling 6.6 line-kilometres was completed to provide a detailed magnetic dataset and assessing potential responses from very-low frequency electromagnetic (VLF-EM) at the Alwin Property.

The magnetic survey (Vertical Derivative of magnetic dataset shown in Figure 1) provided an enhanced understanding of structures within the host Bethsaida granodiorite known to control mineralization at the Alwin Mine. Linear magnetic lows parallel to mineralized zones were observed. These magnetic anomalies appear to correlate with drill core magnetic susceptibility measurements, which showed fresh and less altered rocks yielded a higher magnetic response than that of structural shears and veins that host mineralization. An expanded program of ground geophysical surveys is being designed to expand the zone of mineralized structures beyond the limits of the Alwin Mine zone.

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 m long by 200 m wide by 300 m deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totaling 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 with the western boundary of Teck Corporation's Highland Valley Mine, the largest open-pit porphyry copper-molybdenum mine in western Canada. Alteration and mineralization of the Highland Valley hydrothermal system extends westward from the Highland Valley mine onto the Alwin property (see GSP's news release dated January 30, 2020).

Methodology and QA/QC

The analytical work reported on herein was performed by ALS Global ("ALS"), Vancouver, Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of GSP Resource and the QP. Surface grab samples were subject to crushing at a minimum of 70 per cent passing 2 mm, followed by pulverizing of a 250-gram split to 85 per cent passing 75 microns. Base and precious metals were determined via four-acid digestion 33 element ICP-AES geochemistry, gold determined via 30-gram fire assay and ICP-AES, and overlimit values for copper (>10 per cent) were analyzed via four-acid digestion ICP-AES or AAS. GSP Resource follows industry standard procedures for the work carried out on the Alwin Mine Project, with a quality assurance/quality control (QA/QC) program followed for the 2023 drilling. Due to the small number of surface grab samples collected, blank, duplicate, and standard samples were not inserted into the sample sequence. GSP Resource is not aware of any sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

The ground geophysical survey grid comprised 14 lines, spaced 50 metres apart, oriented at 018-198 degree with lines averaging 450 metres in length.

The ground magnetic and VLF-EM geophysical survey were conducted using a GEM GSM-19V Overhauser magnetometer with a VLF attachment, with diurnal correction provided by a second stationary base GEM GSM-19V magnetometer.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, AB, 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 includes 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

GSP Resource is a mineral exploration & 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 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 .

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