Receives CAD$ 4,364,315 Non-Dilutive Funding from the Sale of its World Copper Ltd. Securities
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Gold Springs Resource Corp.
Receives CAD$ 4,364,315 Non-Dilutive Funding
from the Sale of its World Copper Ltd. Securities
Vancouver, October 25, 2021
Gold Springs Resource Corp. (TSX: GRC, OTCQB: GRCAF) (the “Company”) is pleased to
announce the receipt of CAD$ 4,364,315 for the sale of World Copper Ltd. securities
(please refer to the detailed information in the early warning report section in page 2).
Antonio Canton, President and CEO , stated: “We are very pleased for all our shareholders
to have received this non -dilutive funding of CAD$ 4.36 million which will be allocate d for
the rapid development of our large Gold Springs project.
After the promising result s in North Jumbo and Charlie Ross in our last news releases, all
our team is now looking forward to the coming assays of White Point, but also especially of
the follow -up holes in North Jumbo where we had ex citing results with 6.87 g/t gold
equivalent over 24.4 meters, which included 30.9 g/t gold equivalent over 4.6 meters, and
0.59 g/t gold equivalent over 82.3 meters (Hole J-21-006 North Jumbo)”.
(Please refer to the Company’s news release of September 7, 2021 for additional information about
the North Jumbo results).
Qualified Person
Randall Moore, Executive Vice-President Exploration, Gold Springs Resource Corp., is the
Company's designated Qualified Person within the meaning of National Instrument 43 -101
Standards of Disclosure for Mineral Projects and he has reviewed and approved the scientific
and technical information contained in this news release.
About Gold Springs Resource Corp.
Gold Springs Resource Corp. (TSX: GRC and OTCQB: GRCAF) is focused on the exploration
and expansion of the gold and silver resources of its Gold Springs project located on the
border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western
USA, one of the best mining jurisdictions in the world.
Gold Springs Resource Corp. Contact:
Antonio Canton, President and CEO
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Early warning report
The Company and Escalones Resource Corp. (“ERC”) will file an early warning report under
the World Copper’s profile on the SEDAR website at www.sedar.com with all the detailed
information on the receipt of CAD$ 4,364,315 for the sale by its wholly-owned subsidiary, ERC,
to Wealth Minerals Ltd. on October 22, 2021 of all of its securities of World Copper Ltd.,
consisting of (a) 13,225,197 common shares (post 3 -1 consolidation) of World Copper
(representing a sale of price of CAD$ 0.33 per share) and (b) a special warrant of World
Copper that may be deemed exercised for no additional consideration into up to an additional
8,148,900 common shares (post 3 -1 consolidation) of World Copper upon the exercise of
19,014,101 share purchase warrants (post 3-1 consolidation) of World Copper Ltd.
A copy of the early warning report can also be obtained from the contact below:
Gold Springs Resource Corp
Suite 800, 580 Hornby Street
Vancouver, British Columbia, V6C 3B6
Attn: Killian Ruby, CFO
Phone: (604) 639-4527
Forward-Looking Statements
Certain statements contained herein constitute “forward-looking information” under applicable
Canadian securities laws (“forward-looking statements”). Forward-looking statements look into
the future and provide an opinion as to the effect of certain events and trends on the
business. Forward-looking statements may include words such as “creating”, “believe”, “would”,
“continue”, “will”, “promising”, “should”, and similar expressions. Forward-looking statements in
this news release include, without limitation, statements related to the rapid development of the
Company’s large Gold Springs project. These forward-looking statements are based on current
expectations and entail various risks and uncertainties. Actual results may materially differ from
expectations if known and unknown risks or uncertainties affect our business or if our estimates
or assumptions prove inaccurate. Factors that could cause results or events to differ materially
from current expectations expressed or implied by the forward-looking statements, include, but
are not limited to, risks of the mineral exploration industry which may affect the advancement
of the Gold Springs project, including possible variations in mineral resources, grade, recovery
rates, metal prices, capital and operating costs, and the application of taxes; availability of
sufficient financing to fund planned or further required work in a timely manner and on
acceptable terms; availability of equipment and qualified personnel, failure of equipment or
processes to operate as anticipated, changes in project parameters, including water
requirements for operations , as plans continue to be refined; regulatory, environmental and
other risks of the mining industry more fully described in the Company’s Annual Information
Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com.
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The assumptions made in developing the forward -looking statements include; the accuracy of
current resource estimates and the interpretation of drill, metallurgical testing and other
exploration results; the continuing support for mining by local governments in Nevada and Utah;
the availability of equipment and qualified personnel to advance the Gold Springs project;
execution of the Company’s existing plans and further exploration and development programs
for Gold Springs, which may change due to changes in the views of the Company or if new
information arises which makes it prudent to change such plans or programs. Readers are
cautioned not to place undue reliance on the forward-looking statements contained in this press
release. Except as required by law, the Company assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or any other
reason. Unless otherwise indicated, forward -looking statements in this press release describe
the Company’s expectations as of the date hereof.