Mr. Simon Dyakowski reports

GSP RESOURCE EXPLORATION TARGET MODELLING INDICATES OPEN PIT POTENTIAL AT ALWIN MINE COPPER-SILVER-GOLD PROJECT

Exploration target block modelling has indicated open-pit potential at GSP Resource Corp.'s Alwin mine copper-silver-gold project.

The recently completed exploration targeting modelling and conceptual open-pit and stope optimization indicates that the Alwin mine copper mineralization is potentially amenable to an open-pit model. Modelling has yielded a conceptual open pit that extends to a depth of 180 metres (600 feet) with potentially minable stope shapes continuing at depth a further 90 metres vertically and over a strike extent of approximately 300 metres (1,000 feet by 300 feet).

The exploration target open-pit and stope modelling considers copper mineralization only and the company looks forward to further evaluation, through additional drilling, of potentially significant gold values which have recently come to light (see GSP Resource's news release dated Aug. 19, 2024).

The recently completed modelling is based on the company's expansive historical and modern diamond drill hole database comprising over 45,000 metres of drilling in 581 holes drilled from surface and underground. The database contains a total of 3,164 sampled intervals representing 8,181 metres of sampled drill core. The modelled mineralized intervals are intersected by 372 drill holes containing a total of 1,434 sampled intervals representing 1,972 metres of drill core.

Updated geological resource estimation progress

The Apex Geoscience Ltd. resource modelling team continues to make resource estimation progress for the Alwin project. Apex has now completed block modelling, historic mine development depletion models, and conceptual exploration target open-pit and stope optimizations.

The resource team is in the process of competing volume variance checks and finalizing kriging parameters in preparation for eventual resource reporting.

Updated workflow continues to progress as follows:

• 3-D georeferencing of historical geological plans and sections (complete);
• Implicit 3-D modelling of shear vein lodes (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 exploration target block modelling (complete);
• Conceptual pit shell and stope optimization (complete).

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 southern-central British Columbia. The historic underground mine was developed over 500 metres long by 200 metres wide by 300 metres deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totalling 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 Corp.'s Highland Valley mine, the largest open-pit porphyry copper-molybdenum mine in Western Canada. Alteration and mineralization of the Highland Valley hydrothermal system extend westward from the Highland Valley mine onto the Alwin property (see GSP Resource's news release dated Jan. 30, 2020).

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 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 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 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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