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GoldSpot Discoveries Signs Service Agreement with Canstar Resources to Apply Machine Learning Technology on Golden Baie

11.11.2021  |  Newsfile
Toronto, Nov 11, 2021 - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) ("GoldSpot" or the "Company"), a leading technology services company leveraging machine learning to transform the mineral discovery process is pleased to announce it has been engaged by Canstar Resources Inc. (TSXV: ROX) (OTC: CSRNF) ("Canstar"), to apply its proprietary machine learning technology and geoscience expertise on its Golden Baie project, a large claim package (62,175 hectares) with recently discovered, multiple outcropping gold occurrences on a major structural trend in south Newfoundland.

GoldSpot works with leading exploration and mining clients across all commodities and deposit types, using cutting-edge technology and geoscientific expertise to mitigate exploration risks and significantly increase the efficiency and success rate of mineral exploration across resources. Recent successes by GoldSpot with both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology.

Matthieu Lapointe, VP Exploration, commented: "Remarkable progress was achieved by Canstar at Golden Baie this field season. High-grade results from early-stage drilling and multiple grassroots discoveries that span 30 km are a testament to our high-performing exploration team and the underexplored nature and district-scale potential of the Golden Baie property. Our intent is to accelerate our systematic exploration strategy and continue to identify, prioritize, and advance targets. Canstar has inherited extensive drill, geochemical and geophysical datasets from the 25 years of sporadic exploration campaigns and government initiatives. We are excited to partner with GoldSpot to interrogate these data and leverage the successes they have gleaned from years of experience targeting orogenic gold systems in Newfoundland and beyond."

Denis Laviolette, Executive Chairman and President of GoldSpot, added: "We are excited to welcome Canstar to our growing client roster of Newfoundland explorers. As the premier geological and data partner in the province, we are confident we will help Canstar capitalize on their exploration potential to identify new discoveries at Golden Baie."

The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved by Chris MacInnis, professional geoscientist (APGO No. 2059), a qualified person as defined by National Instrument 43-101 guidelines.

About Canstar Resources Inc.

Canstar is focused on the discovery and development of economic mineral deposits in Newfoundland and Labrador, Canada. Canstar has an option to acquire a 100% interest in the Golden Baie Project, a large claim package (62,175 hectares) with recently discovered, multiple outcropping gold occurrences on a major structural trend in south Newfoundland. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientist's merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.

For further information please contact:
Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: investors@goldspot.ca

Cautionary Statement on Forward-Looking Information

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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