GSP Resource Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

GSP Resource Corp. is a mineral exploration company focused on projects in Southwestern British Columbia.

The Company holds an option to acquire 100% of the Alwin Mine Copper-Gold-Silver Project, located in the Kamloops Mining Division, 18 km west of Logan Lake, British Columbia. The Alwin Mine Project includes the past-producing Alwin Copper Mine and is located immediately west of Teck Resources’ (TSX:TECK.B) Highland Valley porphyry copper-molybdenum-silver ore body.

The Company also owns 100% of the Olivine Mountain project located in The Tulameen ultramafic complex (currently optioned to Full Metal Minerals).

Investment Highlights

Past Producing Alwin Copper Mine

• The shallow high-grade potential of the Alwin Mine project is compelling due to the project’s location adjacent to Teck Resource’s Highland Valley Mine operations including its favourable elevation and hill-top topography
• Recently completed a drilling compilation that captured over 50,000m of historic surface & underground drilling
• Recent Drilling Targeting demonstrates the high-grade potential for the Alwin Property and reinforces the polymetallic upside with significant gold and silver values

Recent Drilling Highlights

• GSP’s recently completed drill program in late 2023 returned high-grade intersections including: Hole AM23-01: 12.8m of 2.42% copper, 0.57 g/t gold and 47 g/t silver (3.14% CuEq) including 5.7m of 5.21% Cu, 1.22 g/t Au and 103 g/t Ag (6.77% CuEq)
• Several relatively shallow intersections from the 2020 - 2023 drilling programs at Alwin have return high-grade results including: Hole AM21-01B: 6.4m of 3.50% Cu, 2.4 g/t Au, 39.6 g/t Ag (4.66% CuEq)

Compelling Capital Structure

• Tiny market capitalization of less than CAD$4 million
• Insiders own 30% of outstanding shares
• Tight capital structure provides investors maximum leverage for valuation re-rating

Social & Environmental Responsibility

• Creating jobs for British Columbia based crews
• Adding Value in BC’s Interior

FLAGSHIP PROJECT

Alwin Mine Project, British Columbia

The Alwin Mine Copper-Silver-Gold property is approximately 575.72 hectares, located in mining friendly region of Southwestern British Columbia. Production took place between 1916 and 1981 from five major sub-vertical high-grade copper mineralization zones totalling 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 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 news release dated January 30, 2020).

In preparation for potential follow up drilling, has recently completed a 3-dimensional modelling and data review to integrate the recently completed drilling data into the existing Alwin Mine model.

Alwin Mine New Drill Targets

• Potentially underground mineable high-grade copper focused 3D model utilizes minimum 1.5 m downhole assay composites and greater than 0.5% copper (Cu) cutoff to isolate high-grade copper zones demonstrating increased continuity;
• 3 new copper mineralization vein zones identified that warrant follow up drill testing located to the south, northwest and at depth of known historic mineralization zones. (See news release dated August 24, 2023)

Recent Milestones

• Alwin: Incorporate new drilling data into geological model, and update Alwin mine 3D model
• Highland Valley: Acquired 100% of MER Porphyry Copper Property
• The MER claims host a copper exploration target zone located northwest of the Company's Alwin mine high-grade copper-silver-gold target zone. (See news release dated April 16, 2024)
• Given the presence of drill confirmed porphyry copper-molybdenum mineralization the MER Property is a high priority for follow up exploration.
• Recently Completed Fall 2023 Drilling Program

Upcoming Catalysts

• 2024 Follow up – The historic drill intervals were assayed for copper, with limited testing of gold, silver. Therefore, the full extent of polymetallic mineralization of historic drilling represents a significant exploration upside and requires follow up confirmation drilling of known zones and possible extensions to the west and east of the historic mine area.
• The high-grade mineralization zones remain open at depth and warrant further investigation.
• Modelling of Recent Drill Results + Historic Dataset
• Planned 2024 Drill Program subject to financing, 2023 drill results and market conditions

Management

Management and Directors

Simon Dyakowski, CFA, MBA, President & CEO, Director

Mr. Dyakowski has over 16 years experience in capital markets and corporate development, with an expertise in strategic planning and execution, financing, and marketing of exploration companies. Mr. Dyakowski most recently acted as an adviser to TSX Venture Exchange listed mineral exploration companies on their corporate development strategies.

Christopher Dyakowski, BSc, P.Geo., Chairman, Director

Mr. Dyakowski has 40 years of mineral exploration experience. His background includes Board of Director and executive-level positions with numerous publicly traded junior mining companies.

Kenneth C. Phillippe, CA, CFO

Mr. Phillippe is a Chartered Professional Accountant and has over 35 years of public company experience.

Rodney Stevens, CFA, Director

Mr. Stevens has over a decade of experience in the capital markets, first as an investment analyst covering the silver mining and exploration sector with Salman Partners Inc. and subsequently as a merchant and investment banker.

Jordan P. Trimble, BSc, CFA, Director

Mr. Trimble is the President and Chief Executive Officer of Skyharbour Resources, and he serves as a director of the CFA Society Vancouver. He has an extensive network of institutional and retail investors as well as resource industry professionals.

Justin G. Kates, J.D., Director

Mr. Kates is a Lawyer and partner of DuMoulin Black LLP, practicing primarily in the areas of securities, corporate finance, mergers and acquisitions, and corporate and commercial law.

A. David V. Heyl, BSc, P.G., Senior Technical Advisor

Mr. Heyl has more than 40 years of experience in the mining industry. He is currently vice-president of exploration for Aztec Minerals Corp.

APEX Geoscience Ltd., Geological Consultant

Overseen by Kristopher Raffle, P.Geo., Principal and Consultant of APEX

News Update

On March 13, 2025, GSP Resource Corp. is nearing completion of a draft five-year multiyear area-based (MYAB) permit application in preparation for submission to the British Columbia Ministry of Mining and Critical Metals (B.C. MMCM) and review by relevant first nation groups with respect to the Mer property in the Highland Valley copper camp of British Columbia.

The Mer property comprises 185 hectares in the Kamloops mining division, located approximately 1.5 kilometres northwest of GSP's Alwin mine project and are surrounded by Teck Resources Ltd.'s Highland Valley copper claim group directly west and south of the Highland Valley Copper Mine's active operations. The Mer property hosts a copper exploration target zone, located northwest of the company's Alwin mine high-grade copper-silver-gold target zone. The permit application is expected to describe the details of an initial Year 1 diamond drilling program, followed by permitting of sufficient surface disturbance to support anticipated expansion diamond drilling within the following four years of the permit. The property is well accessed through 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.

On February 24, 2025, GSP Resource Corp. has provided an overview of planned follow-up to the recent high-grade gold discovery made at the 100-per-cent-owned Alwin mine project in southwestern British Columbia (please see the summary news release dated Feb. 19, 2025). The recently completed drilling marked a sea change for the Alwin mine project with the discovery of high-grade gold values in stepout hole AM-24-06, which yielded 5.04 grams per tonne (g/t) gold (Au) and 1.01 per cent copper (Cu) over 7.90 metres (m), including 22.93 g/t Au and 1.82 per cent Cu over 1.64 m (1). With analysis of the recent drill results now completed, GSP announces additional high-grade gold drill targets are planned for 2025.

The Alwin project currently hosts an inferred mineral resource comprising 1.46 million tonnes (t), at an average grade of 1.08 per cent 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 historical assays for these metals prior to drilling by GSP has precluded their inclusion in resource estimation. The new discovery within west-side stepout 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 minable copper resources with high-grade gold values.

Simon Dyakowski, chief executive officer of GSP, commented: "The discovery of high-grade gold mineralization represents a unique opportunity to reframe the Alwin mine project in the context of its potential to host broader copper-plus-gold-silver resources. The resource expansion potential represented by these high-grade gold zones in the context of potential copper equivalence, if we can establish geologic continuity, cannot be understated."

On February 19, 2025, GSP Resource Corp. announced a summary of the recently announced and completed late-2024 Alwin Mine Project drill program which successfully expanded the shallow high-grade copper-silver-gold mineralization and discovered a new high grade gold zone . The drilling program was highlighted by a Gold discovery, in a step out hole west of the open pit resource area, with AM-24-06 Assaying 5.04 g/t Gold and 1.01% Copper Over 7.90m; including 22.93 g/t Gold and 1.82% Copper Over 1.64m .

The program consisted of 7 holes totaling 812 metres designed to target potential extensions of known high-grade copper and gold zones at the Alwin Property located in the Highland Valley Copper Camp of British Columbia. The Alwin Project hosts current inferred mineral resources comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08% copper (Cu), yielding 34.6 million pounds of Cu 3 .

On January 20, 2025, GSP Resource Corp. announced that it has filed the detailed Technical Report (the “ Technical Report ”) of its initial Mineral Resource Estimate (“2024 Alwin MRE” or “ MRE ”) for its Alwin Copper-Silver-Gold Project (the “Alwin Project”) in southwestern British Columbia, Canada . The Technical Report is dated January 17, 2025, effective September 16, 2024, is entitled “NI 43-101 Technical Report on the Alwin Copper-Silver Gold Project, Kamloops Mining Division.”, and was prepared by APEX Geoscience Ltd.

The results of the initial 2024 Alwin MRE were previously disclosed in summary form in the Company’s news release dated December 4, 2024. The Technical Report was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 Standards of Disclosure for Mineral Projects (“ NI 43-101 ”) and is available for review under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.gspresource.com. Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions, and exclusions.

On January 16, 2025, GSP Resource Corp. announced the results for the remaining 6 diamond drill holes from its 7 hole 2024 drill campaign totaling 812 metres designed to target potential extensions of known high-grade copper and gold zones at the Alwin Property located in the Highland Valley Copper Camp of British Columbia. The Alwin Project hosts current inferred mineral resources comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08% copper (Cu), yielding 34.6 million pounds of Cu 1 .

The drill results reported today include the discovery of a new high-grade gold zone within drill hole AM-24-06 grading 5.04 grams-per-tonne (g/t) gold (Au) and 1.01% copper (Cu) over 7.90 m , including 22.93 g/t Au and 1.82% Cu over 1.64 m ; in addition to an upper zone grading 1.22% Cu, 22.5 g/t Ag and 0.64 g/t Au over 2.5 m.

Simon Dyakowski, CEO of GSP commented , “With the discovery of a new zone of high-grade gold mineralization at the Alwin Mine Project, we have delivered on the key goal of the Company’s 2024 drill campaign. The results reported today have yielded the highest-grade modern gold assay interval at Alwin drilled to-date. These results could be transformational for the Project and point to the need to further evaluate the spatial distribution of gold-primary zones of mineralization, given their significant mineral resource upside potential alongside the well-established copper mineralization .”

On January 14, 2025, This news release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take Over Bids and Insider Reporting Issues, in connection with the filing of an early warning report regarding the acquisition of common shares of GSP Resource Corp. by Richard John Billingsley on Jan. 8, 2025, pursuant to the Alwin project option agreement dated Jan. 30, 2020, as amended, as final payment of shares under the terms of the option agreement, as consideration for the company's acquisition of a 100-per-cent interest in the Alwin project from the acquiror, located in southwestern British Columbia, Canada.

Pursuant to the share issuance, the acquiror acquired ownership and control of 2,525,000 shares at a deemed price of 10 cents per share for a total deemed value of $252,500. Prior to the completion of the share issuance, the acquiror owned, directly or indirectly, or exercised control or direction over, 4,192,332 shares, representing approximately 10.92 per cent of the 38,392,687 then issued and outstanding shares on both an undiluted and partially diluted basis. Following the completion of the share issuance, the acquiror beneficially owns, directly or indirectly, or exercises control or direction over, 6,717,332 shares, representing approximately 16.42 per cent of the 40,917,687 Shares currently issued and outstanding on both an undiluted and partially diluted basis.

On January 13, 2025, GSP Resource Corp. announced the initial results for the first of 7 diamond drill holes totaling 812 metres designed to target potential extensions of known high grade copper and gold zones at the Alwin Property located in the Highland Valley Copper Camp of British Columbia. The Alwin Project hosts current inferred mineral resources comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08% copper (Cu), yielding 34.6 million pounds of Cu.

Drill hole AM-24-01 intersected multiple zones of high-grade copper-silver-gold mineralization over a combined 36.2 metre (m) core interval. Significant assay results include a main zone averaging 2.41% Cu, 35 grams-per-tonne (g/t) silver (Ag), and 0.68 g/t gold (Au) over 17.4 m , including 4.11% Copper, 60 g/t Ag and 0.95 g/t Au over 8.4 m ; in addition to an upper zone grading 1.01% Cu and 10.7 g/t Ag over 5.5 m.

Simon Dyakowski, CEO of GSP commented , “We are excited that the first drill hole of our Q4 2024 drill program has yielded broad zones of high-grade copper accompanied by consistent silver and gold values. Our initial mineral resource estimate for the Alwin Project was well received by the market and we believe these exceptional initial drill results are a direct result of our deepened understanding of the mineralization controls at Alwin. We look forward to releasing additional positive drill results in the days and weeks ahead, with an eye to in-pit resource expansion, new discoveries, and evaluating the high-grade gold potential of the Project. We are also pleased to have completed the 100% acquisition of the project on an accelerated timeline, with a simplified and less burdensome cash and share outlay and NSR structure.”

On January 08, 2025, GSP Resource Corp. has amended the Alwin project option agreement with the vendors Richard John Billingsley and S. Gaye Richards dated Jan. 30, 2020, as amended (see news releases dated Jan. 30, 2020, and July 12, 2023), to accelerate the remaining payment obligations under the option agreement to acquire a 100-per-cent interest in the Alwin copper-silver-gold project in southwestern British Columbia, Canada.

The company intends to complete all remaining cash and share payments due to the vendors under the option agreement within the following week and will announce the acquisition a 100-per-cent interest in the Alwin project at that time.

On January 06, 2025, GSP Resource Corp. has provided shareholders with the following outlook for 2025 and review of 2024 activities. GSP's core assets are an option to acquire a 100-per-cent interest in the past-producing Alwin copper mine, and the 100-per-cent-owned Mer claims, both located in British Columbia's Highland Valley copper camp.

Simon C. Dyakowski, chief executive officer of GSP, commented: "Two thousand twenty-four was a pivotal year for GSP. We built off the successful Alwin project restart in 2023, culminating in the development of the first-ever open pit model for the Alwin project, and its maiden 43-101 mineral resource estimate (MRE). With high-grade copper-silver-gold drill results reported early in the year, GSP then delivered an expanded exploration model based on a new open pit concept. This new model is now being drill tested for growth of the open pit potential mineralization, as well as for the potential upside of high-grade precious metals. We also acquired 100-per-cent ownership of the Mer project, which hosts historically drilled porphyry style copper mineralization, and is also strategically located within the Highland Valley camp, surrounded by Teck Resource's Highland Valley copper claims. Going into 2025 we eagerly await the receipt of assays results from our recently completed drilling program and continued advancement of the Alwin and Mer project's full potential."

On December 18, 2024, GSP Resource Corp. has completed its surface diamond drill program at the Alwin mine project. The 2024 drill program consisted of seven drill holes totalling 812 metres designed to target potential extensions of known high-grade copper and gold zones at the Alwin property located in the Highland Valley copper camp of British Columbia. Highlights:

• All seven holes intersected visual signs of chalcopyrite-bornite copper sulphide mineralization. Three drill holes intersected significant width visible copper sulphide mineralization: including 35 metres (m) core length, 6.5 m, 5.5 m and 6.5 m.
• Drill hole AM24-06 is of particular significance given that the mineralized intercept occurs to the northwest along strike of the deposit and outside of the current Alwin project mineral resource pit shell, which presents clear opportunities for resource expansion (see GSP Resource Corp. new release dated Dec. 12, 2024).
• Significantly, the 2024 drill campaign was designed to test the potential for gold values present as both high-grade narrow veins and broader lower-grade zones, which are not well understood due to a lack historic gold assays (see GSP Resouce news release dated Aug. 19, 2024).

Simon Dyakowski, chief executive officer of GSP, commented: "We are excited that our 2024 diamond drill campaign was a success both technically and logistically, which again demonstrates the year-round exploration potential at Alwin. Drilling intersected multiple broad zones of bornite-chalcopyrite mineralization with the potential to expand the resource both within and outside of the pit shell. We look forward to receipt of assay results early in the new year."

On December 04, 2024, GSP Resource Corp. has completed its initial mineral resource estimate with respect to the Alwin copper-silver-gold project in southwestern British Columbia, Canada. The 2024 Alwin MRE provides the first comprehensive analysis of the Alwin project's potential as an open-pit resource, which is a significant advancement of the project, which had previously only been considered for underground mining. The Alwin project is situated in the Highland Valley copper (HVC) camp, surrounded by mineral title controlled by Teck Resources' HVC operations, which comprise several presently and past-producing open-pit mining operations. Highlights:

• Inferred mineral resource comprising 1.46 million tonnes tonnes, average grading of 1.08 per cent copper, yielding 34.6 million pounds of copper;
• Multiple high-grade zones; with 66 per cent of the contained copper amenable to open-pit mining and 34 per cent by underground mining;
• Significant potential for resource expansion of underexplored surface zones within pit, along strike and at depth below the pit;
• Potential for significant gold-silver contribution with additional drilling as highlighted by historic and recent gold-silver intercepts (see GSP's news release dated Aug. 19, 2024).

On November 04, 2024, GSP Resources Corp, completed $2.1 million share private placement.

Financing type: non-brokered private placement

Gross proceeds: $294,000

Offering: 2.1 million flow-through shares with 1.05 million warrants attached

Offering price: 14 cents per flow-through share

Warrant exercise terms: 21 cents per listed share for a two-year period

Non-cash commissions: 96,000 finders' warrants

On November 01, 2024, Further to its Oct. 24, 2024, news release, GSP Resource Corp. has closed its oversubscribed non-brokered private placement of 2.1 million units at a price of 14 cents per unit for aggregate gross proceeds of $294,000. Each unit consists of one common share to be issued as a flow-through share, within the meaning of the Income Tax Act (Canada) (ITA), and one-half transferable common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share of the company at a price of 21 cents until Nov. 1, 2026.

The company intends to use the proceeds from the sale of the FT shares toward exploration work on the Alwin copper-silver-gold project and intends that such expenses incurred will be eligible for the Critical Mineral Exploration Tax Credit (CMETC). Proceeds 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 Dec. 31, 2024, in the aggregate amount not less than the total amount of gross proceeds raised from the issue of FT shares.

On October 31, 2024, GSP Resource Corp. has commenced diamond drilling at the Alwin mine copper-silver-gold project. The drill program currently under way is expected to consist of six to eight diamond drill holes and is designed to expand the shallow, open-pit mineralization potential of the recently completed exploration target block modelling exercise.

The recently completed exploration targeting modelling and conceptual open-pit and stope optimization exercise (see GSP Resource's news releases dated Oct. 2, 2024, and Oct. 15, 2024) resulted in new high-priority drill targets proximal to the conceptual open-pit shell. The targets have the potential to expand existing zones of (previously) poorly delineated, high-grade copper mineralization.

The drill program is advancing the Alwin mine project utilizing the results of GSP's recently developed exploration model. The company has been able to prioritize expansion targets relative to their potential to be accretive to the modelled mineralization as constrained by the conceptual open-pit shell. It is important to note that historic mining at Alwin focused on high-grade copper shear zones having width and grade characteristics sufficient to support relatively higher-cost underground mining. The development of the conceptual open-pit shell has now provided for the identification of a broader range of near-mine mineralization targets that had not been fully evaluated, historically.

High-priority drill targets include more than 10 near-surface exploration targets along strike and within the hangingwall and footwall of the Alwin copper-silver-gold shear system.

On October 25, 2024, GSP Resource Corp. has arranged a non-brokered private placement of up to two million units at a price of 14 cents per unit for gross proceeds of up to $280,000. Each unit consists of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share of the company at a price of 21 cents per share for a period of two years following the closing date of the private placement.

The company intends to use the proceeds from the sale of the FT shares toward exploration work on the Alwin mine copper-silver-gold project and intends that such expenses incurred will be eligible for the critical mineral exploration tax credit.

On October 15, 2024, GSP Resource Corp.'s recently completed exploration target block modelling exercise has yielded additional high-priority drill targets at the Alwin mine copper-silver-gold project.

The recently completed exploration targeting modelling and conceptual open-pit and stope optimization exercise has resulted in new high-priority drill targets proximal to the conceptual open-pit shell. The targets have the potential to expand existing zones of previously poorly delineated high-grade copper mineralization.

The new drill targets are the first advancement of the Alwin mine project with the results of GSP's recently developed exploration model now in hand. The company is now able to prioritize expansion targets relative to their potential to be accretive to the modelled mineralization as constrained by the conceptual open-pit shell. It is important to note that historic mining at Alwin focused on high-grade copper shear zones having width and grade characteristics sufficient to support relatively higher cost underground mining. The development of the conceptual open-pit shell has now provided for the identification of a broader range of near-mine mineralization targets that had not been fully evaluated, historically.

The targeting exercise, which is still ongoing, has to date yielded over a dozen near surface exploration targets along strike and within the hangingwall and footwall of the Alwin copper-silver-gold shear system.

On October 02, 2024, GSP Resource Corp. reported that the exploration target block modelling has indicated open-pit potential at Alwin mine copper-silver-gold project.

The recently completed exploration targeting modelling and conceptual open-pit and stope optimization indicates that the Alwin mine copper mineralization is potentially amenable to an open-pit model. Modelling has yielded a conceptual open pit that extends to a depth of 180 metres (600 feet) with potentially minable stope shapes continuing at depth a further 90 metres vertically and over a strike extent of approximately 300 metres (1,000 feet by 300 feet).

The exploration target open-pit and stope modelling considers copper mineralization only and the company looks forward to further evaluation, through additional drilling, of potentially significant gold values which have recently come to light (see GSP Resource's news release dated Aug. 19, 2024).

The recently completed modelling is based on the company's expansive historical and modern diamond drill hole database comprising over 45,000 metres of drilling in 581 holes drilled from surface and underground. The database contains a total of 3,164 sampled intervals representing 8,181 metres of sampled drill core. The modelled mineralized intervals are intersected by 372 drill holes containing a total of 1,434 sampled intervals representing 1,972 metres of drill core.

On September 23, 2024, GSP Resource Corp., further to news release on Sept. 11, 2024, has closed an oversubscribed non-brokered private placement of 6.5 million units at a price of 10 cents per unit for aggregate gross proceeds of $650,000. Each unit is composed of one common share and one-half of one transferable common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 15 cents per share at any time on or before Sept. 23, 2026.

The company intends to use the net proceeds of the private placement toward exploration and development work on the Alwin mine copper-silver-gold project and for general working capital purposes.

On September 11, 2024, GSP Resource Corp. intends to complete a non-brokered private placement of up to five million units at a price of 10 cents 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. Each whole warrant entitles the holder to purchase one common share of the company at a price of 15 cents per share for a period of two years following the date of issuance.

The company intends to use the net proceeds of the private placement toward exploration and development work on the Alwin mine copper-silver-gold project and for general working capital purposes.

On August 19, 2024, GSP Resource Corp. has provided an update related to continuing advancement of the Alwin mine copper-silver-gold project. Recently compiled historic and modern diamond drilling has highlighted the presence of high-grade gold mineralization at the Alwin property, which is not yet well understood, in addition to the well-established laterally and vertically extensive high-grade copper zones. New modelling has for the first time enabled 3-D (three-dimensional) visualization of the Alwin mine project shear vein system, enhancing the company's ability to target expansion and discovery of new zones of high-grade copper mineralization.

Drill database validation highlights significant gold values

Digital capture of historical surface and underground diamond drilling highlights the polymetallic nature of Alwin mine mineralization. While all prior drilling was assayed for copper, a small subset of core samples were also assayed for gold, silver and molybdenum.

Significantly, 1968 diamond drilling at Alwin yielded multiple high-grade gold intercepts including assays of 61 grams per tonne (g/t) gold (Au) and a total of five individual assays greater that 20 g/t Au within surface drill hole 68-67 over a 29.5-metre downhole interval. These assays yield composite grades of 3.05 metres averaging 14.4 g/t Au, including 1.52 metres grading 26.1 g/t Au; and 2.77 metres grading 8.6 g/t Au.

May 22, 2024, GSP Resource Advances Geological Modelling of Alwin Mine Copper-Silver-Gold Project in Preparation for 2024 Expansion Drilling.

https://gspresource.com/gsp-resource-advances-geological-modelling-of-alwin-mine-copper-silver-gold-project-in-preparation-for-2024-expansion-drilling/

April 16, 2024, GSP Resource Enters into Agreement to Acquire an Additional 185 Hectares of Claims Adjacent to the Highland Valley Copper Mine.

GSP Resource has entered into an arm's-length acquisition agreement with Dylan Adam to acquire a 100-per-cent interest in the MER claims in the Highland Valley copper camp of British Columbia. The two MER claims comprise 185 hectares in the Kamloops mining division. The claims are situated approximately 1.5 kilometres northwest of GSP's Alwin mine project and are surrounded by Teck Resource's Highland Valley copper claim group directly west and south of the Highland Valley copper mine's active operations.

https://gspresource.com/gsp-resource-enters-into-agreement-to-acquire-an-additional-185-hectares-of-claims-adjacent-to-the-highland-valley-copper-mine/

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