GSP Resource Corp. 2023 Drill Program Intersects Sulphide Mineralization at Alwin MINE Copper-Silver-GOLD Project

GSP RESOURCE CORP. 2023 DRILL PROGRAM INTERSECTS SULPHIDE

MINERALIZATION AT ALWIN MINE COPPER-SILVER-GOLD PROJECT

News Release - Vancouver, British Columbia – November 22, 2023: GSP Resource Corp. (TSX-

V: GSPR) (the “Company” or “GSP”) announces the successful completion of its surface diamond

drill program at the Alwin Mine project (the “Alwin Property”). The 2023 drill program consisted

of 5 drill holes and was designed to target potential extensions of known high grade copper zones at

the Alwin Property located in the Highland Valley Copper Camp of British Columbia.

All five 2023 drill holes exhibited visual sulphide mineralization intervals interpreted to be part

of or adjacent to the historic 4 Zone (Table 1; Figures 1, 2). Observed pyrite, chalcopyrite, bornite,

and molybdenite mineralization exhibited structurally controlled (in the form of mm to cm-scale vein

sets, fracture, and fault infill), as well as fine to coarsely disseminated, domanial and blebby textures.

Figure 1 AM-23-03 from 159.37 - 170 m exhibiting pyrite, chalcopyrite, and bornite

mineralization and sericitic alteration

~162.9 – 163m 

~169.9 – 170m 

Figure 2 AM-23-004 from 28.55 – 34.25 m exhibiting disseminations and veining of pyrite,

chalcopyrite and bornite mineralization within intensely altered granodiorite

GSP’s President & CEO, Simon Dyakowski, commented: “Our team is excited to share the

preliminary results of the 2023 drill program. We look forward to providing further updates as we

receive analytical assay results for the five 2023 drill holes. The primary objective of the 2023 drill

program was to drill test the Alwin 3D copper mineralization vein model recently developed for the

high-grade past producing Alwin Copper Mine with a focus on evaluating the upper and lower

extents of the unmined historic 4 Zone. The potential to further expand the multiple parallel

polymetallic mineralization zones at Alwin remains a significant ex ploration upside that requires

further confirmation drilling. Potential new zones previously identified from historic drill holes to

the northwest, south and at depth of the historic mine area remain untested and will be targeted with

additional drilling in 2024.”

A total of 5 HQ-size diamond drill holes were completed totaling 640 metres. Drilling was completed

from three sites along a strike length of approxima tely 100 m including the upper and lower levels

of the 4 Zone (Figure 3; Table 1). Drill core samples included implementation of Quality Assurance

& Quality Control (QA/QC) proce dures including the insertion of blanks, standards and core

duplicates at regular intervals into the sample st ream. Drill core samples were submitted to ALS

Global Labs in North Vancouver and results will be released once available.

Figure 3: Plan Map of Surface Expression of Alwin Mine 3D Compilation Showing >1.5%

Copper Mineralization Vein Model and 2023 drill hole locations

Table 1 Alwin 2023 Core Drilling Significant Mineralization and Alteration

Hole ID Target

(m below

surface)

From

(m)

To

(m)

Drilled

Interval

(m)

Alteration Mineralization

AM-23-01 4 Zone

130 – 140 m 44.2 46.3 2.1

Moderate to intense patchy to

pervasive potassic, patchy chloritic,

sericitic facture infill alteration

Disseminated and blebby

pyrite, finely disseminated

chalcopyrite

AM-23-01 4 Zone

130 – 140 m 138.6 148.1 9.5

Varying intensity of chloritic,

potassic, prehnitic and sericitic

alteration

Disseminated, fracture infills,

patchy and blebby pyrite,

chalcopyrite, molybdenite and

bornite

AM-23-02 4 Zone

120 – 130 m 118.2 118.8 0.6 Weak to strong chlorite, sericite and

potassic alteration

Disseminated pyrite and

bornite; massive chalcopyrite

veinlet

AM-23-02 4 Zone

120 – 130 m 135.1 150.3 15.2 Varying intensity of potassic,

prehnitic and sericitic alteration

Disseminated, patchy, and

blebby pyrite, chalcopyrite and

bornite

AM-23-03 4 Zone

160 – 170 m 107.3 110.3 3 Moderate potassic, chloritic and

sericitic alteration

Pyrite, chalcopyrite and

bornite within <1cm veinlets

AM-23-03 4 Zone

160 - 170 m 160.4 167.3 6.9 Moderate to strong intensity of

sericitic alteration

Disseminated, patchy and

veinlets of pyrite, chalcopyrite,

and bornite.

AM-23-04 4 Zone

30 – 35 m 29.1 33.8 4.7 Varying intensity of chloritic,

potassic and prehnitic alteration

Disseminated pyrite,

chalcopyrite and bornite

AM-23-05 4 Zone

35 – 40 m 28.0 41.3 13.3

Varying intensity of potassic,

sericitic and prehnitic alteration

Disseminated, patchy,

stringers pyrite, chalcopyrite

and bornite

About the Alwin Mine Project: The Alwin Mine Copper-Silver-G old property is approximately

575.72 hectares and is located on the semi-arid, inte rior plateau in south-central British Columbia.

The historic underground mine was developed over 500 m long by 200 m wide by 300 m deep.

Production took place between 1916 to 1981 from fi ve 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% copper.

The Alwin Property is adjacent wi th the western boundary of Teck Corporation’s Highland Valley

Mine, the largest open-p it porphyry copper-molybdenum mine in western Canada. Alteration and

mineralization of the Highland Va lley hydrothermal system extends westward from the Highland

Valley mine onto the Alwin property (see GSP’s news release dated January 30, 2020).

Qualified Person: The scientific and technical information contained in this news release has been

reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), prin cipal and consultant of APEX

Geoscience Ltd. of Edmonton, AB, 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 revi ew of the sampling, anal ytical and test data

underlying the information and opinions cont ained 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 Corp. is a mineral exploration & development company

focused on projects located in Southwestern Br itish Columbia. The Company has an option to

acquire a 100% interest and titl e to the Alwin Mine Copper-Gold- Silver Property in the Kamloops

Mining Division, as well as an op tion to acquire 100% interest and title to the Olivine Mountain

Property in the Similkameen Mining Division, of which it has granted an option to earn a 60% interest

to a third party.

Contact Information - For more information, please contact:

Simon Dyakowski, Chief Executive Officer & Director

Tel: (604) 619-7469

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which

may include, without limitation, receipt of assays from the five drill holes, other statements relating to the technical, finan cial

and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements

of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable

assumptions, such statements are not guarantees of future perf ormance and actual results may differ materially from those in

the forward-looking statements. Such statements and informa tion are based on numerous assumptions regarding present and

future business strategies and the environment in which the Company will operate in the future, including the price of metals,

the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner,

that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the

Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and

uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost

estimates and the potential for unexpected costs and expense s, and those filed under the Company’s profile on SEDAR+ at

www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include,

but are not limited to, continued availability of capital and financing and general economic, market or business conditions,

adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to

maintain community acceptance (including First Nations), decrease in the price of copper, gold, silver and other metals, increase

in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to

update forward‐looking statements or forward‐looking information, except as required by law.