Mr. Simon Dyakowski reports

GSP RESOURCE CORP. ANNOUNCES PRIVATE PLACEMENT FINANCING

GSP Resource Corp. intends to complete a non-brokered private placement of up to five million units at a price of 10 cents per unit for gross proceeds of up to $500,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of 15 cents per share for a period of two years following the date of issuance.

In connection with the private placement, the company may pay finders' fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange and applicable securities laws. All securities issued pursuant to the private placement will be subject to a four-month hold period. The private placement is subject to approval by the exchange.

The company intends to use the net proceeds of the private placement toward exploration and development work on the Alwin mine copper-silver-gold project and for general working capital purposes.

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.