Mr. Simon Dyakowski reports

GSP RESOURCE ENTERS INTO AGREEMENT TO ACQUIRE AN ADDITIONAL 185 HECTARES OF CLAIMS ADJACENT TO THE HIGHLAND VALLEY COPPER MINE

GSP Resource Corp. has entered into an arm's-length acquisition agreement with Dylan Adam to acquire a 100-per-cent interest in the Mer claims in the Highland Valley copper camp of British Columbia. The two Mer claims comprise 185 hectares in the Kamloops mining division. The claims are situated approximately 1.5 kilometres northwest of GSP's Alwin mine project and are surrounded by Teck Resource's Highland Valley copper claim group directly west and south of the Highland Valley copper mine's active operations.

Terms of the acquisition for 100 per cent of the Mer claims are a $10,000 cash payment and the issuance of 100,000 common shares of GSP within 10 days of TSX Venture Exchange acceptance of the agreement. The seller of the claims will retain a 1.0-per-cent net smelter return royalty with a buyback option for the company of $500,000. All GSP common shares issued pursuant to the agreement will be subject to a hold period of four months and one day from the closing date.

The Mer claims host a copper exploration target zone located northwest of the company's Alwin mine high-grade copper-silver-gold target zone.

Simon Dyakowski, president and chief executive officer of GSP Resource, commented: "We are very pleased to enter into this agreement to acquire the only remaining ground within the Highland Valley copper camp near our flagship Alwin mine high-grade copper-silver-gold project. The Mer claims are underexplored having seen limited drilling in the 1960s and 1970s discovering shallow copper mineralization. Over the coming weeks, we look forward to integrating the Mer claim group into our Alwin mine copper project 2024 field season exploration plans."

About the Mer claims

The Mer claims were the subject of intensive exploration by the Cleveland Ming & Smelting Co. Ltd. between the years 1965 and 1971. During that time exploration within the current Mer and surrounding claims now held by Teck Highland Valley Copper Corp. comprised geochemical and IP/resistivity geophysical surveys, geologic mapping, bulldozer trenching, completion of 16 percussion drill holes totalling 610 metres (m), and a single 150 m diamond drill hole targeting the Mer showing. Percussion and diamond drilling were reported to define a 70-by-120-metre northeast-trending porphyry copper-molybdenum zone characterized by disseminated chalcocite, chalcopyrite, bornite and molybdenite mineralization and associated biotite and sparse potassic alteration. At the Mer showing, percussion drill holes 1, 3, 15 and 16, forming a 70 by 40 m diamond pattern in plan returned values of nine m averaging 0.47 per cent copper (Cu); 30 m averaging 0.53 per cent Cu; 15 m averaging 0.50 per cent Cu; and 21 m averaging 0.51 per cent Cu respectively, commencing at downhole depths ranging from six to 18 m. A single diamond drill hole was centred on the percussion drill holes and intersected a zone of chalcocite mineralization within biotite and potassic altered granodiorite intrusive rocks averaging 0.29 per cent Cu over 24 m from a downhole depth of nine m. The zone of mineralization remains open to the north and west. No significant exploration has been reported within this project since the initial work programs ending in the early 1970s. Given the presence of drill-confirmed-porphyry-copper-molybdenum mineralization, a location six kilometres west of the Valley pit at Teck Resource Ltd.'s Highland Valley copper operations, and its position with the Chataway and Guichon granodiorite phases of the Guichon batholith the Mer project is a high priority for follow-up exploration.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, PGeo (B.C.), 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 include 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 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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