GSP Resource Corp. Receives Drill Permit for Mer Porphyry Copper Property, Highland Valley, BC
GSP Resource Corp. Receives Drill Permit for Mer Porphyry Copper
Property, Highland Valley, BC
News Release - Vancouver, British Columbia – April 22, 2026: GSP Resource Corp. ( TSX-V:
GSPR / FSE: 0YD / OTC: GSRCF ) (the “Company” or “ GSP”) announces it has successfully
received a 5-year multi-year area based (MYAB) drilling permit with respect to the Mer Property in
the Highland Valley Copper Camp of British Columbia.
With the approval of the Mer MYAB, the Company can now move forward with planned diamond
drilling of a new porphyry target defined through compilation of historic drilling data, and recently
advanced by follow -up rock and grid soil sampling. 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, a nd 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 operations1
(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
1 Mineralization present within Teck Resources Highland Valley Operations is not necessarily indicative of GSP
Resources Corp. properties.
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 2 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.
Figure 1: Mer and Alwin Mine Claims – Highland Valley Copper Camp
2 All drill holes are assumed to be vertical, and the true width of mineralization it unknown.
Figure 2: Mer Proposed Drilling Oblique View Looking North
The Company also announces that it has extended a consulting services agreement originally dated
October 31, 2025 with GRA Enterprises LLC (“ GRA”), pursuant to which GRA will provide the
Company with marketing and communications services for a n additional six-month term. The
services provided by GRA will include the production and publication of investor bulletins,
distribution of investor bulletins to the GRA’s e -mail list, and posts via the GRA’s blogs and social
media accounts to build investor awareness of the GSP.
The Company has agreed to pay GRA an extension fee of US$60,000. GRA is an arm's length party
to the Company and to the Company’s knowledge GRA does not currently own any securities of the
Company as at the date hereof. There are no performance factors contained in the agreement between
GRA and the Company and GRA nor will any of its affiliates receive any shares or options from the
Company as compensation for services under the agreement.
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.
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 expected services and payments under the agreement with GRA, the potential
drilling of the Mer Property 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 a nd 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 availabl e 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, litigation, a nd
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.