Vancouver, British Columbia – TheNewswire - October 25, 2022 - GSP Resource Corp. (TSXV:GSPR) (the “Company” or “GSP”) has engaged APEX Geoscience Ltd. (“APEX”) of Edmonton, AB, as geological consultants to conduct a review of the Alwin Mine Copper-Silver-Gold Project and recommend the next stage of exploration for the project.  The review is expected to reinterpret both historic drilling & mining data, GSP’s 3D modelling of the historic mine workings, and GSP’s 2020-2022 exploration programs on the Alwin project.  The review, overseen by Kristopher Raffle, P.Geo. Principal and Consultant of APEX, will commence immediately with a site visit to the project over the coming weeks.

APEX is a privately-owned, independent geological consulting company that provides high quality, cost effective and timely geological consulting services to exploration companies, government, and non-government organizations. APEX has experience in all aspects of the mineral exploration industry from initial assessment and NI 43-101 reporting through to mining including the identification and outlining of resources. They specialize in managing large mine site and exploration databases, digital capture of historic datasets, and combining rigorous geostatistical analysis with modern geological, geochemical, and drill datasets to create concise 3D models that result in discovery and expansion of resources.  

GSP’s President & CEO, Simon Dyakowski, commented: “With ongoing volatility in the broader equity and commodity markets, GSP has managed its exploration budget carefully to reflect market conditions and to best preserve the Company’s attractive capital structure through the cycle.  As such, we have retained APEX to review our work programs to-date and advise on a strategy to unlock value from the historic Alwin Mine project building upon the exploration data acquired in GSP’s drilling and modelling programs. Upon completion of the project review, GSP will update shareholders on the next exploration steps to advance the project.  The Alwin project has a 5-year area-based drilling permit in place and recent drilling discovered some of the highest grades of gold and silver ever reported in the Highland Valley Camp.”

The Alwin Mine Copper-Silver-Gold property is approximately 575.72 hectares and is located on the semi-arid, interior plateau in south-central British Columbia.  It is adjacent with the western boundary of Teck Corporation’s Highland Valley Mine, the largest open-pit porphyry copper-molybdenum mine in western Canada.  Alteration and mineralization of the Highland Valley 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 disclosure contained in this news release has been reviewed and approved by Christopher I. Dyakowski, P. Geo., a director of the Company and a “Qualified Person” as that term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. 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 has an option to acquire a 100% interest and title to the Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining Division, as well as an option 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: simon@gspresource.com

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, completion of the review by Apex and the recommended work program on the Alwin property, future exploration work on the Company’s projects, 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 forward-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.sedar.com. 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.