August 9, 2024, Vancouver, British Columbia - Gold Springs Resource Corp. (TSX: GRC, OTCQB: GRCAF) (the “Company”), reports the release of its unaudited consolidated financial statements for the three and six months ended June 30, 2024 and the related management’s discussion and analysis of financial position and results of operations (“MD&A”). In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.
During the six months ended June 30, 2024, general and administrative expenses,
excluding non-cash share-based payments, decreased to $0.31 million compared with $0.33 million during the six months ended June 30, 2023. During the three months ended
June 30, 2024, general and administrative expenses, excluding non-cash share-based
payments, were $0.16 million compared with $0.16 million during the three months ended June 30, 2023. Exploration spending during the six months ended June 30, 2024,
decreased to $0.17 million, from $0.67 million incurred during the same period of the prior year. During the six months ended June 30, 2024, the Company reported a net loss of $0.34 million ($nil loss per share) compared with net loss of $0.28 million ($nil loss per share), primarily resulting from an increase in non-cash share-based payments
expense of $0.05 million. During the three months ended June 30, 2024, the Company reported a net loss of $0.18 million ($nil loss per share) compared with net loss of $0.08 million ($nil loss per share), primarily resulting from an increase in non-cash share-based
payments expense of $0.08 million. As of June 30, 2024, the Company had cash of $0.01 million.
About Gold Springs Resource Corp.
Gold Springs Resource Corp. (TSX: GRC and OTCQB: GRCAF) is focused on the
exploration and expansion of the gold and silver resources of its large Gold Springs project located on the border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western USA, one of the best mining jurisdictions in the world.