An anonymous director reports

GSP RESOURCE GEOLOGICAL COMPILATION AND MODELLING REVEALS HISTORIC HIGH GRADE GOLD ASSAYS AT ALWIN MINE COPPER-SILVER-GOLD PROJECT

GSP Resource Corp. has provided an update related to continuing advancement of the Alwin mine copper-silver-gold project. Recently compiled historic and modern diamond drilling has highlighted the presence of high-grade gold mineralization at the Alwin property, which is not yet well understood, in addition to the well-established laterally and vertically extensive high-grade copper zones. New modelling has for the first time enabled 3-D (three-dimensional) visualization of the Alwin mine project shear vein system, enhancing the company's ability to target expansion and discovery of new zones of high-grade copper mineralization.

Drill database validation highlights significant gold values

Digital capture of historical surface and underground diamond drilling highlights the polymetallic nature of Alwin mine mineralization. While all prior drilling was assayed for copper, a small subset of core samples were also assayed for gold, silver and molybdenum.

Significantly, 1968 diamond drilling at Alwin yielded multiple high-grade gold intercepts including assays of 61 grams per tonne (g/t) gold (Au) and a total of five individual assays greater that 20 g/t Au within surface drill hole 68-67 over a 29.5-metre downhole interval. These assays yield composite grades of 3.05 metres averaging 14.4 g/t Au, including 1.52 metres grading 26.1 g/t Au; and 2.77 metres grading 8.6 g/t Au.

High-grade gold values with drill hole 68-67 are supported by the company's modern diamond drill results, including drill hole AM-21-08B that returned 1.6 m grading 10.4 g/t Au and 1.2 per cent copper (Cu), in addition to, 6.4 m averaging 2.3 g/t Au, 3.4 per cent Cu, and 40 g/t silver (Ag) within drill hole AM-21-01A.

The most recent drilling completed by GSP returned gold values over wide intervals, including drill hole AM-23-01 that intersected 12.8 m averaging 0.57 g/t gold (Au), 2.42 per cent Cu, and 47 g/t Ag (3.14 per cent copper-equivalent (CuEq)), including 5.7 m averaging 1.22 g/t Au, 5.21 per cent Cu, and 103 g/t Ag (6.77 CuEq).

Viewed together the historic and current diamond drill results for the Alwin mine indicate the presence of potentially significant gold values correlated with the known copper lodes, as both high-grade narrow veins and broader lower-grade zones encountered across multiple drill holes throughout the deposit. Importantly, the distribution and grade of gold values across the Alwin property is not well understood and presents significant exploration upside alongside the well-established high-grade copper mineralization.

Structure and mineralization model expected to yield expansion and new discoveries

The recognition of Alwin copper-silver-gold mineralization as being hosted within a well-developed en-echelon shear vein system is expected to yield opportunities for expansion of existing and the discovery of new zones of mineralization at depth and along strike where the property remains open. The current interpretation indicates the presence of a subvertical east-west-trending parent shear zone, within which steeply south dipping tension veins have developed. The intersection of these features, likely focused along dilation jogs, has produced steeply southeast-plunging continuity of mineralization. These plunging mineralized zones were the target of expansive underground development over a 250-metre vertical extent; however, with relatively little historic production. This enhanced understanding of the structural controls on mineralization represents a significant leap in the company's ability to develop high-conviction drill targets with meaningful potential to drive expansion and discover new zones of high-grade copper mineralization.

Updated geological modelling project progress

The Apex Geoscience Ltd. resource modelling team continues to progress the geologic model development for the Alwin project. Apex has completed 3-D georeferencing of historic mine plans and sections, and drill database validation. These data have allowed for the development and finalization of over 20 mineralized shear vein lodes, which will be used to constrain an exploration block model currently under development. In parallel, historic mine development depletion models have now been reconciled with the modeled mineralized zones to inform eventual conceptual open pit and stope optimization.

Updated workflow continues to progress as follows:

• 3-D georeferencing of historical geological plans and sections (complete);
• Digitization of mineralized polygons, fault traces and point structure (complete);
• Implicit 3-D modelling of shear vein lodes and fault planes (complete;
• Validation of 3-D underground development and mined stope volumes (complete);
• Handoff of finalized drill database and mineralization models to Apex geostatistical and resource estimation team for block modelling (complete);
• Conceptual pit shell and stope optimization (under way).

About GSP Resource Corp.

GSP Resource is a mineral exploration and development company focused on projects located in southwestern British Columbia.

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