Mr. Simon Dyakowski reports

GSP DEFINES NEW PORPHYRY COPPER DRILL TARGETS AND PREPARES TO SUBMIT DRILL PERMIT APPLICATION FOR MER PROPERTY

GSP Resource Corp. is nearing completion of a draft five-year multiyear area-based (MYAB) permit application in preparation for submission to the British Columbia Ministry of Mining and Critical Metals (B.C. MMCM) and review by relevant first nation groups with respect to the Mer property in the Highland Valley copper camp of British Columbia.

The Mer property comprises 185 hectares in the Kamloops mining division, located approximately 1.5 kilometres northwest of GSP's Alwin mine project and are surrounded by Teck Resources Ltd.'s Highland Valley copper claim group directly west and south of the Highland Valley Copper Mine's active operations. The Mer property hosts a copper exploration target zone, located northwest of the company's Alwin mine high-grade copper-silver-gold target zone. The permit application is expected to describe the details of an initial Year 1 diamond drilling program, followed by permitting of sufficient surface disturbance to support anticipated expansion diamond drilling within the following four years of the permit. The property is well accessed through existing logging roads that traverse the proposed drilling area where prior logging activities and excavator trenching has exposed a zone of copper mineralization at surface.

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 induced polarization/resistivity geophysical surveys, geologic mapping, bulldozer trenching, completion of 16 percussion drill holes totalling 610 metres, and a single 150-metre diamond drill hole targeting the Mer showing.

Percussion and diamond drilling were reported to define a 70-metre-by-120-metre northeast-trending porphyry copper-molybdenum zone characterized by disseminated chalcocite, chalcopyrite, bornite and molybdenite mineralization as well as associated biotite and sparse potassic alteration.

At the Mer showing, historical percussion drill holes 1, 3, 15 and 16, forming a 70-metre-by-40-metre diamond pattern in plan, returned values of nine metres averaging 0.47 per cent copper, 30 metres averaging 0.53 per cent copper, 15 metres averaging 0.50 per cent copper and 21 metres averaging 0.51 per cent copper, respectively, commencing at downhole depths ranging from six to 18 metres.

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 copper over 24 metres from a downhole depth of nine metres. 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 ended 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 Resources' 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 (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 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 owns 100-per-cent interest and title to the Alwin mine and Mer properties in the Kamloops mining division as well as 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.

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