Mr. Simon Dyakowski reports

GSP ANNOUNCES HIGH PRIORITY DRILL TARGETS AT ALWIN MINE COPPER-SILVER-GOLD PROJECT

GSP Resource Corp.'s recently completed exploration target block modelling exercise has yielded additional high-priority drill targets at the Alwin mine copper-silver-gold project.

The recently completed exploration targeting modelling and conceptual open-pit and stope optimization exercise has resulted in new high-priority drill targets proximal to the conceptual open-pit shell. The targets have the potential to expand existing zones of previously poorly delineated high-grade copper mineralization.

The new drill targets are the first advancement of the Alwin mine project with the results of GSP's recently developed exploration model now in hand. The company is now able to prioritize expansion targets relative to their potential to be accretive to the modelled mineralization as constrained by the conceptual open-pit shell. It is important to note that historic mining at Alwin focused on high-grade copper shear zones having width and grade characteristics sufficient to support relatively higher cost underground mining. The development of the conceptual open-pit shell has now provided for the identification of a broader range of near-mine mineralization targets that had not been fully evaluated, historically.

The targeting exercise, which is still ongoing, has to date yielded over a dozen near surface exploration targets along strike and within the hangingwall and footwall of the Alwin copper-silver-gold shear system.

Highlights of New Alwin mine drill targets:

• Western strike extension, targeting historic drill hole S-81-6 that intersected thick overburden and an intensely clay-kaolin altered granodiorite fault zone over a 10-metre core interval along the western projection of the Alwin mine trend (2 zone and 6 zone) for which no assays are recorded;
• Eastern strike extension, targeting untested near-surface projection of high-grade shear vein (4 zone) historically exploited on multiple underground sublevels and intersected in historic drill hole 67-28 that returned assays 13.4 metres averaging 2.1 per cent copper, including six metres of 3.8 per cent;
• Southern footwall, targeting relatively untested in pit secondary shear veins (South 2 zone) returning two metres averaging 4.4 per cent copper in drill hole 68-45; and 1.8 metres averaging 3.2 per cent copper in drill hole AM-21-02;
• Northern hangingwall, targeting relatively untested in pit secondary shear veins (8 zone).

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 south-central British Columbia. The historic underground mine was developed over 500 metres (m) long by 200 m wide by 300 m deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totaling 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 extends westward from the Highland Valley mine onto the Alwin property (see GSP's news release dated Jan. 30, 2020).

Methodology and QA/QC (quality assurance/quality control)

The analytical work reported on herein related to historic drilling was performed by the Bethlehem Copper Corp. Ltd. analytical laboratories, Ashcroft, B.C. Analytical techniques and quality assurance/quality control (QA/QC) measures employed at the time are not known, however, the qualified person has reviewed extensive original documentation held by GSP, including copies of original drill logs, assay summary tables, underground drill sections and original analytical certificates. All individual sources were in agreement. GSP Resource is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

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 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 & 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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