Shareholder Update

GSP Resource Corp. 2021 Review and 2022 Outlook

Vancouver, British Columbia, Jan. 19, 2022 (GLOBE NEWSWIRE) -- GSP Resource Corp. (TSX-V: GSPR) (FRA: 0YD) (the “Company” or “GSP”) provides shareholders with the following outlook for 2022 and review of 2021 activities. GSP’s core asset is an option to acquire a 100% interest in the past producing Alwin Copper Mine located in BC’s Highland Valley Copper Camp.

Simon Dyakowski CEO of GSP commented: “GSP had a productive year in 2021. Despite logistical challenges driven by poor weather with the Summer wildfires and Autumn flooding, GSP was able to complete approximately 2,300 meters of diamond drilling (8 holes), bringing GSP’s total drilling at the Alwin Mine Project to approximately 4,300 meters (18 holes) over the previous two exploration seasons. Other milestones achieved at Alwin last year include obtaining an important 5-year exploration permit (Multi-Year area based (MYAB)) and completing a 3D digital model of the historic Alwin mine workings and drill data. Work at Alwin to-date continues to support the reimagining of the Alwin Mine from a high grade underground operation to a potential, shallow, bulk tonnage open pittable deposit model. At Olivine Mountain, we signed an agreement to option a 60% interest in the project to Full Metal Minerals.”

2021 Year in Review Highlights:

Alwin Mine Project

• Completed 3D modelling: The model includes all known underground workings, separated into drift and declines, raises, cement filled, rock filled and open stopes and the numerous unmined copper+/- silver+/- gold mineralized portions of the 425 m long by 275 m deep by 150 m wide zone (see news release dated May 19, 2021).
• Obtained 5 year MYAB Permit for drilling: Permit allows GSP to carry out exploration activities including drilling, trenching and IP lines for a period of 5 years.
• Drilled 2,313 meters over the Summer and Fall of 2021, testing the bulk tonnage copper potential of unmined mineralization within and surrounding the historic Alwin mine.
• High Grade drilling Highlights included: Hole AM 21-01 returning High grade intersection of 3.50% Cu, 2.4 gpt Au, 39.6 gpt Ag (4.66 CuEq) over 6.4 m ¹ and Hole AM21-05 a Deep high-grade intersection of 2.71% CuEq over 35.5m. ²
• Bulk Tonnage Grade Highlights: Hole AM21-05 - 0.61% CuEq over 164.6 m; Hole AM21-02 – 0.14% CuEq over 176.7 m; Hole AM21-01 – 0.21% CuEq over 229.7 m, including: 0.28% CuEq over 158.5 m, and 0.48% CuEq over 79.3 m. ³