News Release - Vancouver, British Columbia – TheNewswire - April 29, 2026:  GSP Resource Corp. (TSX-V: GSPR / FSE: 0YD / OTC: GSRCF) (the “Company” or “GSP”) announces plans for a first phase of drilling expected to commence in Q2 2026 at its combined Alwin-Mer properties located in the Highland Valley Copper Camp of British Columbia.  The initial phase of 2026 drilling is planned to target both the potential for Porphyry Copper at the Mer property, as well as follow up drilling to a gold discovery drilled at Alwin in late 2024.  Subject to the results of the first phase of drilling and available funds, and market conditions, the Company expects to plan and initiate a second phase of drilling during the fall exploration season.

 

Alwin High Grade Gold Targets:

 

Phase 1 drilling at the Alwin high-grade gold target is expected to follow up on the discovery of high-grade gold values drilled in late 2024 in step-out hole AM-24-06 that yielded 5.04 grams-per-tonne (g/t) Gold (Au) and 1.01% Copper (Cu) Over 7.90 metres (m); including 22.93 g/t Au and 1.82% Cu Over 1.64 m1.  

 

The Alwin Project currently hosts an inferred mineral resource comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08% Cu, yielding 34.6 million pounds of Cu2.  Potentially significant silver and gold values have long been known at Alwin, however a lack of historic assays for these metals prior to drilling by GSP has precluded their inclusion in resource estimation.  The new discovery within west-side step-out 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 mineable copper resources with high-grade gold values.

 

Significantly, high-grade gold values in AM-24-06 occur in a 1.64 m core width interval, which includes an individual sample of 0.84 m assaying 35.1 g/t Au (1.02 oz/ton), within the interpreted hanging wall of a broader 7.9 m core width copper-gold-silver zone3.  

 

The occurrence of high-grade gold values, below the vertical projection of existing “3 Zone” modelled copper resources, affirms the Company’s belief that these two contrasting mineralization styles are structurally and genetically linked, and can be successfully targeted within the context of the current Alwin Mine geological model.  Additionally, the Alwin high-grade gold mineralization is visually distinct from the broader copper zones and is marked by the presence of intense texturally destructive black chlorite-sericite alteration.

 

As part of the first phase of 2026 drilling, GSP is planning to step out and potentially expand the footprint of important high-grade gold mineralization within AM-24-06.  The drilling is designed to test both laterally and vertically beyond AM-24-06 to provide additional intercepts to confirm the structural setting, as well to extend the depth of drill holes to test additional modelled copper lodes within the structural footwall to the north that are equally as prospective (Figure 1).

  

Figure 1: Alwin Mine Planned High-Grade Gold Target
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Mer Porphyry Copper Drill Targets:

 

GSP also plans to drill a new porphyry target defined through compilation of historic drilling data, and recently advanced by follow-up rock and grid soil sampling as part of the first phase of 2026 drilling.  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, and 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 operations4 (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 Mining & 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 mapping, bulldozer trenching, completion of 16 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% Cu5 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 2: Mer and Alwin Mine Claims – Highland Valley Copper Camp

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Figure 3: Mer Proposed Drilling Oblique View Looking North

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Private Placement Financings:

 

The Company also announces that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 4,166,667 units (each a “Unit”) at a price of $0.12 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 (the “Warrants”).  Each whole Warrant entitles the holder to purchase one common share of the Company at a price of $0.18 per share for a period of three (3) years following the date of issuance.

 

The Company also intends to complete a non-brokered private placement, consisting of 3,333,333 flow-through shares (each, a “ FT Share ”) at a price of $0.15 per FT share for aggregate gross proceeds of $500,000. Each FT Share constitutes a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “ITA”).

 

The Company intends to use the proceeds from the sale of the FT Shares towards exploration work on the Alwin Mine and Mer Properties and intends that such expenses incurred will be eligible for the Critical Mineral Exploration Tax Credit (the “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 December 31, 2026, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.

 

Certain insiders of the Company may acquire Units in the Private Placements. Any participation by insiders in the Private Placement will constitute a “related party transaction” as defined under Multilateral Instrument 61-101—Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company expects such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, is expected to exceed 25% of the Company’s market capitalization.

 

In connection with the Private Placement financings, the Company may pay finders’ fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the “Exchange”) and applicable securities laws.  All securities issued pursuant to the Private Placements will be subject to a four-month hold period. The Private Placements are subject to approval by the Exchange. The financings are expected to close on or before May 15th 2026.

 

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: 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

          

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 closing of the Private Placement, the potential drilling of the Mer and Alwin Properties 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 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.

Not for distribution to United States Newswire Services or for dissemination in the United States

 

1 See GSP Resource Corp. news release dated January 16, 2025

2 Independent NI 43-101 Technical Report Alwin Copper-Silver Gold Project, with an effective date of September 16, 2024, and prepared by Apex Geoscience Ltd. is filed under the GSP Resource Corp. Issuer Profile SEDAR+ (www.sedarplus.ca)

3 The estimated true width of mineralization is approximately 75% of the drilled width

4 Mineralization present within Teck Resources Highland Valley Operations is not necessarily indicative of GSP Resources Corp. properties.

5 All drill holes are assumed to be vertical, and the true width of mineralization it unknown.