GSP Resource Corp. Announces Phase 1 Drilling Plan at Alwin-Mer Properties Targeting Porphyry Copper and High-Grade Gold Expansion, Highland Valley, BC
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GSP Resource Corp. Announces Phase 1 Drilling Plan at Alwin-Mer
Properties Targeting Porphyry Copper and High-Grade Gold
Expansion, Highland Valley, BC
News Release - Vancouver, British Columbia – April 29, 2026: GSP Resource Corp. ( TSX-V:
GSPR / FSE: 0YD / OTC: GSRCF) (the “Company” or “GSP”) announces plans for a first phase
of drilling expected to commence in Q2 2026 at its combined Alwin- Mer properties located in the
Highland Valley Copper Camp of British Columbia. The initial phase of 2026 drilling is planned to
target both the potential for Porphyry Copper at the Mer property, as well as follow up drilling to a
gold discovery drilled at Alwin in late 2024. Subject to the results of the first phase of drilling and
available funds, and market conditions, the Company expects to plan and initiate a se cond phase of
drilling during the fall exploration season.
Alwin High Grade Gold Targets:
Phase 1 drilling at the Alwin high-grade gold target is expected to follow up on the discovery of high-
grade gold values drilled in late 2024 in step-out hole AM-24-06 that yielded 5.04 grams-per-tonne
(g/t) Gold (Au) and 1.01% Copper (Cu) Over 7.90 metres (m); including 22.93 g/t Au and 1.82%
Cu Over 1.64 m1.
The Alwin Project currently hosts an inferred mineral resource comprising 1.46 million tonnes (Mt)
tonnes, at an average grade of 1.08% Cu, yielding 34.6 million pounds of Cu 2. Potentially
significant silver and gold values have long been known at Alwin, however a lack of historic assays
for these metals prior to drilling by GSP has precluded their inclusion in resource estimation. The
new discovery within west -side step-out drill hole AM -24-06 at a depth 40 m below the current
resource pit shell presents an opportunity to augment existing open pit and underground mineable
copper resources with high-grade gold values.
Significantly, high-grade gold values in AM -24-06 occur in a 1.64 m core width interval, which
includes an individual sample of 0.84 m assaying 35.1 g/t Au (1.02 oz/ton) , within the interpreted
hanging wall of a broader 7.9 m core width copper-gold-silver zone3.
The occurrence of high- grade gold values, below the vertical projection of existing “3 Zone”
modelled copper resources, affirms the Company’s belief that these two contrasting mineralization
styles are structurally and genetically linked, and can be successfully targeted within the context of
1 See GSP Resource Corp. news release dated January 16, 2025
2 Independent NI 43-101 Technical Report Alwin Copper-Silver Gold Project, with an effective date of September 16,
2024, and prepared by Apex Geoscience Ltd. is filed under the GSP Resource Corp. Issuer Profile SEDAR+
(www.sedarplus.ca)
3 The estimated true width of mineralization is approximately 75% of the drilled width
the current Alwin Mine geological model. Additionally, the Alwin high- grade gold mineralization
is visually distinct from the broader copper zones and is marked by the presence of intense texturally
destructive black chlorite-sericite alteration.
As part of the first phase of 2026 drilling , GSP is planning to step out and potentially expand the
footprint of important high-grade gold mineralization within AM-24-06. The drilling is designed to
test both laterally and vertically beyond AM -24-06 to provide additional intercepts to confirm the
structural setting, as well to extend the depth of drill holes to test additional modelled copper lodes
within the structural footwall to the north that are equally as prospective (Figure 1).
Figure 1: Alwin Mine Planned High-Grade Gold Target
Mer Porphyry Copper Drill Targets:
GSP also plans to drill a new porphyry target defined through compilation of historic drilling data,
and recently advanced by follow -up rock and grid soil sampling as part of the first phase of 2026
drilling. Follow-up soil and rock sampling at Mer targeted the area of historic drilling and defined
an approximately 175 x 120 metre copper anomaly that is open to the northwest. Rock sampling at
the historic Mer showing yielded 12 samples returning between 0.14 to 1.02% Cu, and averaging
0.4% Cu; in addition to TerraSpec® analysis yielding pargonitic muscovite and magnesium -iron
chlorite compositions suggesting a higher temperature proximal porphyry environment (please see
news release dated November 26, 2025, for soils and rocks; and December 16, 2025 for Terraspec
results).
The Mer Property comprises 185 hectares in the Kamloops Mining Division, located approximately
1.5 km NW of GSP’s Alwin Mine Project and is surrounded by Teck Resource’s Highland Valley
Copper claim group directly west and south of the Highland Valley Copper Mine’s active operations4
(Figure 1). The Mer Property hosts a copper exploration target zone located NW of the Company’s
Alwin Mine High grade copper-silver-gold target zone.
The permit provides for an initial year -one diamond drilling program, followed by permitting
sufficient surface disturbance to support anticipated expansion diamond drilling within the following
four years of the permit. The Property is well accessed via existing logging roads that traverse the
proposed drilling area where prior logging activities and excavator trenching has exposed a zone of
copper mineralization at surface (Figure 2).
The Company plans to announce the details of a drill program expected to commence in Q2 2026
over the coming weeks, subject to available funds, and board approval.
About the Mer Claims:
The Mer Claims were the subject of intensive exploration by the Cleveland Mi ning & Smelting Co.
Ltd. between the years 1965 and 1971. During that time exploration within the current Mer and
surrounding claims now held by Teck Highland Valley Copper Corporation comprised geochemical
and IP/resistivity geophysical surveys, geologic m apping, bulldozer trenching, completion of 16
percussion drill holes totaling 610 metres (m), and a single 150 m diamond drill hole targeting the
Mer showing.
Percussion and diamond drilling were reported to define a 70 x 120 metre northeast trending porphyry
copper-molybdenum zone characterized by disseminated chalcocite, chalcopyrite, bornite and
molybdenite mineralization and associated biotite and sparse potassic alteration.
At the Mer showing, historical percussion drill holes 1, 3, 15, and 16, forming a 70 x 40 m diamond
pattern in plan returned values of 9 m averaging 0.47% copper (Cu); 30 m averaging 0.53% Cu;
15 m averaging 0.50% Cu; and 21 m averaging 0.51% Cu 5 respectively, commencing at
downhole depths ranging from 6 to 18 m.
A single diamond drill hole was centered on the percussion drill holes and intersected a zone of
chalcocite mineralization within biotite and potassic altered granodiorite intrusive rocks averaging
0.29% Cu over 24 m from a downhole depth of 9 m. The zone of mineralization remains open to
the north and west.
No significant exploration has been reported within this project since the initial work programs
ending in the early 1970’s. Given the presence of drill confirmed porphyry copper -molybdenum
mineralization, a location 6 kilometers west of the Valley Pit at Teck Resource Limited’s Highland
Valley Copper Operations, and its position within the Chataway and Guichon granodiorite phases of
the Guichon Batholith the Mer Project is a high priority for follow up exploration.
4 Mineralization present within Teck Resources Highland Valley Operations is not necessarily indicative of GSP
Resources Corp. properties.
5 All drill holes are assumed to be vertical, and the true width of mineralization it unknown.
Figure 1: Mer and Alwin Mine Claims – Highland Valley Copper Camp
Figure 2: Mer Proposed Drilling Oblique View Looking North
Private Placement Financings:
The Company also announces that it intends to complete a non- brokered private placement (the
“Private Placement”) of up to 4,166,667 units (each a “Unit”) at a price of $0.1 2 per Unit for gross
proceeds of up to $500,000. Each Unit consists of one common share and one -half of one common
share purchase warrant (the “Warrants”). Each whole Warrant entitles the holder to purchase one
common share of the Company at a price of $0.18 per share for a period of three (3) years following
the date of issuance.
The Company also intends to complete a non- brokered private placement, consisting of 3,333,333
flow-through shares (each, a “ FT Share ”) at a price of $0.15 per FT share for aggregate gross
proceeds of $500,000. Each FT Share constitutes a “flow -through share” within the meaning of the
Income Tax Act (Canada) (the “ITA”).
The Company intends to use the proceeds from the sale of the FT Shares towards exploration work
on the Alwin Mine and Mer Properties and intends that such expenses incurred will be eligible for
the Critical Mineral Exploration Tax Credit (the “CMETC”). Pro ceeds from the sale of FT Shares
will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the ITA
and “flow through mining expenditures” as defined in subsection 127(9) of the ITA and will be
targeted for critical minerals for eligibility under the CMETC. Such proceeds will be renounced to
the subscribers with an effective date not later than December 31, 2026, in the aggregate amount of
not less than the total amount of gross proceeds raised from the issue of FT Shares.
Certain insiders of the Company may acquire Units in the Private Placements. Any participation by
insiders in the Private Placement will constitute a “related party transaction” as defined under
Multilateral Instrument 61 -101—Protection of Minority Security Holders in Special
Transactions (“MI 61 -101”). The Company expects such participation will be exempt from the
formal valuation and minority shareholder approval requirements of MI 61- 101 as the fair market
value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such
insiders, is expected to exceed 25% of the Company’s market capitalization.
In connection with the Private Placement financings, the Company may pay finders’ fees in cash or
securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the
“Exchange”) and applicable securities laws. All securities issued pursuant to the Private Placements
will be subject to a four -month hold period. The Private Placement s are subject to approval by the
Exchange. The financings are expected to close on or before May 15th 2026.
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.), principal 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 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 Corp. is a mineral exploration & development company focused on projects located
in Southwestern British Columbia. The Company owns 100% interest and title to the Alwin Mine
Copper-Gold-Silver Property, and the Mer Property, in the Kamloops Mining Division, as well as a
100% interest and title to the Olivine Mountain Property in the Similkameen Mining Division.
For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: +1 (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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the
securities in the United States of America. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “ 1933 Act”) or any state securities laws and may not be offered or sold within
the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements
is available.
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws,
which may include, without limitation, the closing of the Private Placement, the potential drilling of the Mer and Alwin
Properties and the expected timelines, other statements relating to the technical, financial 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 forwar d-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual results may differ materially from those in the
forward-looking statements. Such statements and information 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 expenses, 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 or climate conditions, failure to maintain all necessary
government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First
Nations), decrease in the price of copper, gold, silver and other metals, increase in costs, l itigation, 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.