GSPR.V · 2021-10-14 12:00:00

GSP Resource Corp. Intersects Additional Bulk Tonnage Copper Grades at Alwin Mine Project and Plans Fall 2021 Drill Program

Drill Results

GSP Resource Corp. Intersects Additional Bulk Tonnage Copper Grades at

Alwin Mine Project and Plans Fall 2021 Drill Program

News Release - Vancouver, British Columbia – October 14, 2021: GSP Resource Corp. (TSX-V:

GSPR) (FRA: 0YD) (the “Company” or “GSP”) announces final diamond drill results from the

Summer 2021 drilling program at the Alwin Mine project (the “Alwin Property ”) located in the

Highland Valley Copper Camp of British Columbia.

Five holes totalling 1 ,439 meters were completed to test the bulk tonnage Copper potential of

unmined mineralization within and surrounding the historic Alwin mine. Complete analytical results

for holes AM21 -2, AM21- 4 and AM21 -5 have now been received and analyzed, along with t he

previously reported results for AM21-1 and AM21-3.

Alwin Summer 2021 Drilling Program 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:

o 0.28% CuEq over 158.5 m

o 0.48% CuEq over 79.3 m

GSP is currently in the final stages of planning a fully funded follow up drilling program expected to

be mobilized in the fourth quarter of 2021. The Fall 2021 drilling program is expected to further test

the bulk tonnage grade potential North of Alwin deposit with 3 diamond drill holes collared from the

North of the historic deposit.

Figure 1: Map of GSP Alwin Project and Highland Valley Copper (Valley Pit)

Link to Map of GSP Alwin Project and Highland Valley Copper (Valley Pit)

GSP President & CEO Simon Dyakowski, commented:

“The Final results of GSP’s Summer drilling program further support a shallow bulk

tonnage deposit model at Alwin. The Summer program also yielded a new exploration

target with the discovery of a new zone of mineralization under the western part of the

main Alwin zone at the bottom of hole AM21- 02 and AM21-04. GSP is now in the

final stages of preparing for a follow up drilling program to further expand the Alwin

bulk tonnage grade model, with additional drill holes N orth of the Main Alwin zone.

The results of the upcoming drill program, in conjunction with GSP’s prior

exploration results will form the basis for an expanded bulk tonnage grade exploration

model for what was previously considered a historic underground deposit.”

Summer 2021 Drill Program Hole Summaries:

Hole AM 21-05 was collared to intersect the 3 zone under a historic intersection grading 4.7% Cu

over a horizontal 3.5 m. The hole intersected , over 10.6 m , several narrow zones grading 0.38%

CuEq. The hole at 136 m intersected the 4S zone and continued in the steeply north dipping portion

of the zone for an additional 35.5 m , returning an average grade of 2.71% CuEq over this interval .

Within this interval, the hole intersected four previously mined out sections totalling 8.8 m. This

intersection returned an assumed grade of 3.51% CuEq. The hole (including the mined-out intervals)

averaged a non true width adjusted 0.61% CuEq over 164.6 metres length.

Link to section view of hole AM21-05

Hole AM21-02 was collared 200 m west southwest of hole AM21- 01 and drilled to intersect a n

eastern 6 zone intersection. This intersection returned 3.48% Cu Eq from a drilled length of 2.6 m.

Similar to Hole AM -21-1A, a coppe r mineralized quartz vein and stockwork zone was again

intersected south of the Alwin Mine. Part of this zone returned 0.235% CuEq over a 43.15 m drilled

length. This hole, from 37.75 to 221.5 metres graded 0.138% CuEq.

Near the planned final depth of the hole the rock was increasing in alteration and the hole was

extended to a total depth of 367 m (1204 ft). From 338.8 to 351.5 m a n intensely mesothermal to

epithermal clay style altered shear hosting dilational quartz v ein fragments hosting coarse grained

pyrite and chalcopyrite was intersected. The sheared intrusive also hosted deformed chalcopyrite

bearing quartz stockwork. This intersection (12.1 m) returned 0.13% CuEq including elevated

molybdenum and rhenium values.

Link to section view of hole AM21-02

Hole AM-21-04 was collared to intersect the west part of the 6 zone about 200 m w est of the hole

AM-21-02 intersection. The hole intersected the zone grading 1.16% CuEq over a drilled length of

3 metres and was an estimated 10 m west of the targeted historic intersection grading 5.8% copper

over 3.1 horizontal metres. Similar to hole AM -21-02, this hole was also extended and again

intersected from 241.9 to 254 m similar sheared, clay altered chalcopyrite stockwork mineralized

intrusive. This intersection (12.1 m) returned 0.11% CuEq including elevated molybdenum and

rhenium values.

Link to section view of hole AM21-04

Hole AM21-01A (previously reported) was targeted to intersect an unmined portion of the historic

4 South zone. The hole was collared from the south of the Alwin deposit near its known eastern

extent and successfully intersected portions of several known and previously unrecognized copper

mineral zones.

Highlight intersections include the targeted 4South zone grading 4.42% copper, 3.5 gpt gold, 92.8

gpt silver, and 0.14 ppm rhenium ( 6.15% CuEq) over a drilled length of 4.4m. Up hole from the

4South zone, drill hole AM21-01 intersected a post -Alwin Highland Valley style quartz vein

stockwork copper zone grading 0.133% copper and 0.204% copper equivalent over a 32.3m drilled

length from 102.7m to 134.0m. Similar mineralization was intersected in hole 20-10D some 300 m

to the southwest (please see news release date March 2, 2021).

Extensions of the 4N orth zone were intersected at depth that graded 0.13% copper equivalent over

12.9 meters. The hole returned a 158.5m drilled length grading 0.284% CuEq from both Alwin and

Highland Valley style mineralization.

Link to section view of hole AM21-01A

Hole AM21-03 (previously reported) was collared 200m west southwest of hole AM21-01and drilled

northeastward to a deep unmined target of the historic # 3 zone. The intersection is approximately

100 metres southwest from the hole 1 target but 50 metres deeper. The hole steepened more than

expected and the primary target was undercut.

Link to section view of hole AM21-03

GSP's Summer 2021 drilling program focused on a 300-metre-by-100-metre-by-250-metre-plus

deep portion of the Alwin replacement-style copper deposit. The style of mineralization is observed

as subvertical individual, or multiple and closely spaced, subparallel in situ muscovite-quartz-

sericite wall rock replacement zones. On a mine scale, the zones form a rough conjugate partially

interlocking system with subvertical west-northwest and west-southwest zones. Individual zones

average 100 to 150 metres long by up to 250 metres vertical and zones can reach 10 metres thick

grading over 4 per cent copper.

Figure 2: GSP Alwin Project 2021 Drill Plan

Link to GSP Alwin Project 2021 Drill Plan

Table 1:

2021 ALWIN MINE ZONE SUMMARY DRILLING RESULTS

Hole FRO

(M)

DRILLE

LENGT

H (M)

E.T.

(M)

density

adjuste

drilled

grade

(%Cu)

density

adjuste

drilled

grade

(Au

g/t))

density

adjuste

drilled

grade

(Ag

g/t))

density

adjuste

drilled

grade

(%Cu

EQ)

TARGETS COMMENTS

ZONES: S-South, 1 to 6-1 to 6 zones, 4N-4

north, 4S-4 south, M-deep mesothermal

AM2

1-01

31.5 261.

229.7 157.

0.15

0.21 S-6-3-4S-

NEAR SURFACE BULK GRADE

AM2

1-01

INC

102.

261.

158.5 111.

0.21

0.28 S-6-3-4S-

AM2

1-01

INC

102.

134.

32.3 20.9 0.13

0.20 S

AM2

1-01

INC

181.

261.

79.4 55.6 0.36 0.20 5.70 0.48 4S-4N

AM2

1-01

INC

181.

202.

21.1 14.7 1.19 0.74 20.80 1.60 4S

AM2

1-01

INC

187.

193.

6.4 4.4 3.50 2.43 39.60 4.66 4S

AM2

1-01

INC

187.

191.

4.4 3.1 4.42 3.52 92.80 6.15 4S

AM2

1-01

INC

249.

261.

11.9 7.0 0.20 0.27 4N

AM2

1-02

37.5 221.

176.7 113.

0.11 0.14 S-1-6-3-

4S-4N-M

NEAR SURFACE BULK GRADE

AM2

1-02

INC

37.5 80.7 43.3 28.1 0.18

0.24 S

AM2

1-02

INC

52.5 55.6 1.8 1.1 3.19

4.11 S

AM2

1-02

INC

134.

146.

11.9 7.7

0.11 1

AM2

1-02

INC

134.

135.

1.0 0.6 0.27 0.10

0.54 1

AM2

1-02

INC

196.

221.

24.9 16.2 0.30

0.42 6

AM2

1-02

INC

216.

221.

5.0 3.3 1.48

1.89 6

AM2

1-02

INC

216.

219.

2.6 1.7 2.65

3.48 6

AM2

1-02

339.

351.

12.0 4.0

0.10

0.13 M deep shear associated mesothermal style clay

altered and stockwork copper mineralization

AM2

1-02

INC

339.

340.

1.5 0.4 0.45 0.04 3.50 0.50 M

AM2

1-03

S-1-6-3

AM2

1-03

8.5 72.9 64.4 39.3 0.07

0.09 S AT SURFACE BULK GRADE

AM2

1-03

INC

40.4 44.2 3.8 2.3 0.53

0.65 S

AM2

1-03

208.

212.

3.6 2.1 0.44 0.48

0.81 6?

AM2

1-03

265.

271.

6.0 3.8 0.16

0.23 3 Below target. Nearest inferred intersection is

79-12 at 0.14% Cu/1.8 m.

AM2

1-04

37.2 174.

130.3 72.0 0.06 0.10 1-6 NEAR SURFACE BULK GRADE

AM2

1-04

INC

81.5 86.3

3.3

1.8

0.18

0.22 1

AM2

1-04

INC

97.5 100.

6 3.0

1.7

0.21

0.27 1?

AM2

1-04

INC

151.

157.

1 6.1

3.3

0.64

1.16

6 HOLE ~ 10 M WEST OF TARGET

AM2

1-04

241.

253.

9 12.1

6.6

0.10

0.11 M

SAME ZONE AS "M" IN HOLE AM21-02

AM2

1-04

INC

253.

9 0.7

0.4

0.24

0.29 M

SAME ZONE AS "M" IN HOLE AM21-02

AM2

1-05

7.9 172.

164.6

0.50

0.61 3-4S AT SURFACE DRILLED BULK GRADE *includes an

unadjusted for true width 35.5 m grading an

estimated 2.71% copper eq. (see 4S below)

which includes, based on adjacent analyzed

intervals in mined out sections 8.8 m with an

estimated grade of 3.51% copper equivalent,

plus 27.3 metres of unsampled

"unmineralized" core with an estimated grade

of 0.004% copper eq..

AM2

1-05

INC

109.

119.

6 10.6

4.8

0.32

0.38 3

AM2

1-05

INC

119.

6 0.6

0.3 1.95

2.56 3

AM2

1-05*

136.

172.

35.5 3.5 2.21

2.71 4S drill hole subparrallels mineralization and

includes estimated grades based on adjacent

analyzed intervals in mined out sections which

total 8.8 m grading 3.51% copper equivalent.

AM2

1-05

INC

156.

158.

6 2.5

3 4.63 0.05 19.20 5.74 4S

interval undercuts open stope.

Percent Copper equivalent grades are calculated from analyzed or assayed Copper results at $4.20/lb ($10.856/kg) X the Estimated True Width +

sampled density divided by an average density of 2.655+ Gold result at $1750 oz ($51082.21/kg)+ Silver result at $23.5/oz ($685.96/ kg)+

Molybdenum result at $19.5/lb ($19.5/kg)+ Rhenium result at $1300/kg). 1% is 10,000 ppm or 1,000,000 ppb. 1 oz/t = 34.2585 ppm (g/t).

Table 2: 2021 Drill Collar Information

NAME UTM-E UTM-N Elevation BRG DIP LENGTH

AM-21-

01A 635483 5593476 1649 9.5

46.2 294.4

AM-21-02 635333 5593491 1644 351

45.6 367

AM-21-03

635319 5593395 1643 29.0 -

46.4

306.0

AM-21-04 635333 5593491 1634 353.5

54.6 294.4

AM-21-05 635381 5593536 1645 25.5

62.6 172.5

In addition to the main “replacement style” Alwin Mine target, the Alwin property hosts several

incompletely explored porphyry copper-molybdenum targets to the north and west of the mine. The

Alwin deposit’s known east end is less than 2.5 km west of and 270 metres higher than t he Valley

pits west edge of Teck Corporation’s Highland Valley Mine, the largest open- pit porphyry copper-

molybdenum mine in Canada. The Highland Valley Mine had a reported 0.278% copper head grade

according to a 2019 presentation (https://www.teck.com/media/Teck-Highland-Valley-Copper-Site-

Visit-2019-HVC-Presentation.pdf) and Teck Resource’s 2020 Annual Information Form (“AIF”)

filed on SEDAR report s mineral reserves at the Highland Valley mine using a 0.09% CuEq cutoff

grade.

About the Alwin Mine Project: The 575.72 hectares Alwin Mine Copper -Silver-Gold property is

located on the semi-arid, interior plateau in south-central British Columbia. The historic underground

mine, which was developed over 500 meters long by 300 meters deep by 200 meters wide volum e

produced from 1916 to 1981 from five major subvertical zones 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. Gold and silver content associated with bornite increase with depth within

the individual mineralized zones.

Qualified Person: Exploration activities at the Alwin mine project including QA -QC procedures

and protocols were designed by and supervised on site by the C ompany's exploration consultant

Leopold J. Lindinger, P.Geo. of Renaissance Geoscience Services Inc. In accordance with National

Instrument 43-101 Standards of Disclosure for Mineral Projects, Leopold J. Lindinger, P.Geo. is the

qualified person for the project and has prepared, validated and approved the technical and scientific

content of this news release. The Company is attempting to adhere to CIM best practices guidelines

in conducting, documenting and reporting the exploration activities on its projects. Mr. Lindinger

verified the data disclosed which includes a review of the sampling, analytical and test data

underlying the information and opinions contained therein. Mineralization hosted on nearby

properties is not necessarily indicative of mineralization that may be hosted on the Alwin property.

Quality Assurance -- Quality Control (QA-QC) procedures: The QAQC program was designed

and overseen by Leopold J. Lindinger, P.Geo.. and is designed to adhere to exploration CIM best

practice guidelines.

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