GSP Hyperspectral Analysis Demonstrates Potential New Porphyry Sources of Mineralization Across the Combined Alwin-Mer Properties

The VIS-SWIR hyperspectral data returned from across the Alwin Mine and Mer properties reveal important spatial patterns that provide strong evidence of potential porphyry copper mineralization vectors. Highlights of the recently completed hyperspectral studies area as follows:

• The Alwin Mine has yielded phengitic muscovite compositions and magnesium-rich chlorite consistent with a peripheral porphyry environment;

• Mer pargonitic muscovite and magnesium-iron chlorite compositions suggesting a higher temperature proximal porphyry environment;

• Presence of pervasive muscovite containing chalcopyrite and bornite, typical of the potassic core at Valley, suggests Alwin may represent the upper parts of a still deeper porphyry system.

• The presence of higher temperature proximal porphyry signature at Mer, which lies further from the Valley Deposit than Alwin further supports the potential of an undiscovered porphyry system at Alwin-Mer

Details of the Hyperspectral Study

Hyperspectral data proximal to the Alwin Mine yielded phengitic (K-rich) muscovite indicating that the high-grade copper-silver veins present there are consistent with a peripheral porphyry environment. In contrast at Mer, pargonitic muscovite predominantly suggests a higher temperature proximal porphyry environment. Alwin-Mer chlorite compositions reveal a similar distal-proximal pattern, with relatively magnesium-rich chlorite suggesting a porphyry margin environment, versus magnesium-iron chlorite compositions indicating closer proximity to the core of a porphyry system.

Massive pale green phengitic muscovite and quartz-sulphide veins present at the Alwin Mine are interpreted to reflect decreasing temperature and more neutral pH conditions towards the margins of the hydrothermal system (away from the Valley Pit 4 km to the east). These results are consistent with those of Alva-Jimenez1 (2011), work that was part of the larger "Footprints of Porphyry Cu Deposits" study, who observed that the Alwin Mine has similar muscovitic compositions to those found at the margin of the Valley deposit and intervening Bethsaida zone.

Significantly, Alva-Jimenez noted similarities between Alwin and Valley, including many of the same textural features such as pervasive muscovite containing chalcopyrite and bornite, typical of the potassic core at Valley. The apparent mismatch in muscovite compositions led to speculation the Alwin system may represent the upper parts of a still deeper porphyry system similar to the Valley deposit2.

The observation that Mer muscovite-chlorite compositions are consistent with a higher temperature porphyry proximal environment is difficult to reconcile given that Mer occurs further still (greater than 6 km) from Valley, further supporting the potential of an undiscovered porphyry system at Alwin-Mer.

Figure 1: Mer and Alwin Mine Property Muscovite-Chlorite Composition

Click Image To View Full Size

Methodology and QA/QC

The analytical work reported on herein was performed by ALS Global ("ALS"), Vancouver, Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of GSP Resource Corp. and the QP. Rock samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. VIS-SWIR hyperspectral analysis was performed on crush rejects at ALS using a TerraSpec® 4 hr spectrometer. Spectral interpretation is completed using IMDEX aiSIRIS™ software, and raw spectral files reported in ASD and ASCII format. Percentages of mineral results reported by aiSIRIS™ represent the spectral contribution (SC) of the minerals with diagnostic features in the VIS-SWIR wavelength region. Values are not normative or modal mineralogy percentages.

GSP Resource Corp. has relied on the internal quality assurance/quality control (QA/QC) measure of ALS which includes the insertion of standard, blank and duplicate samples into the sample stream to confirm the accuracy of the reported results. GSP Resource Corp. detected no significant QA/QC issues during review of the data, and is not aware of any sampling, or other factors that could materially affect the accuracy of the results.

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, an independent consultant to the Company and a "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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: 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, completing ongoing and planned work, advancing the Alwin and Mer Properties, the potential presence of mineralization at the Alwin and Mer Properties, further evaluation of potential mineralization at the Alwin and Mer Properties, 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.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, 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.

1 Alva-Jimenez, T., 2011, Variation in hydrothermal muscovite and chlorite composition in the Highland Valley Porphyry Cu-Mo District, BC, Canada, UBC, M.Sc. Thesis, 249p.

2 Mineralization hosted on other properties is not necessarily indicative of mineralization that may be hosted on the Alwin Project.

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