Gold Springs Resource Corp. Files 2025 Financial Statements, MD&A and Annual Information Form

Rhea-AI Summary

Gold Springs Resource (OTCQB: GRCAF; TSX: GRC) filed audited consolidated financial statements, MD&A and its annual information form for the year ended December 31, 2025. All amounts are in U.S. dollars.

Key figures: exploration spending rose to $0.97 million, net loss was $0.66 million (loss per share $0.00), and year-end cash totaled $0.05 million. The company reported foreign exchange losses of $0.03 million in 2025.

Positive

• Exploration spending increased to $0.97M (+76% YoY)

Negative

• Year-end cash balance of $0.05M
• Foreign exchange losses of $0.03M in 2025

Vancouver, British Columbia--(Newsfile Corp. - March 30, 2026) - Gold Springs Resource Corp. (TSX: GRC) (OTCQB: GRCAF) (the "Company"), reports the release of its audited consolidated financial statements for the year ended December 31, 2025, the related management's discussion and analysis of financial position and results of operations ("MD&A") and the annual information form ("AIF"). In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.

During the year ended December 31, 2025, general and administrative expenses, excluding non-cash share-based payments, decreased to $0.59 million compared with $0.58 million during the year ended December 31, 2024. Exploration spending during the year ended December 31, 2025, was $0.97 million, compared with $0.55 million incurred during the prior year. During the year ended December 31, 2025, the Company reported a net loss of $0.66 million ($0.00 loss per share) compared with net loss of $0.68 million ($0.00 loss per share), with the changes resulting primarily from a combination of a loss on disposal of equipment during 2024 of $0.05 million not repeated in 2025, and foreign exchange losses of $0.03 million incurred during the year ended December 31, 2025. As of December 31, 2025, the Company had cash of $0.05 million.

About Gold Springs Resource Corp.

Gold Springs Resource Corp. (TSX: GRC) (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.

Gold Springs Resource Corp. Contact:
Antonio Canton, President and CEO
acanton@goldspringsresource.com

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking information" under applicable Canadian securities laws ("forward-looking statements"). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements herein may include words such as "creating", "believe", "would", "continue", "will", "promising", "should", and similar expressions and includes the statement relating to the significant potential of the Charlie Ross deposit. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR+ at www.sedarplus.ca. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company's existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Unless otherwise indicated, forward-looking statements in this press release describe the Company's expectations as of the date hereof.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290592

FAQ

What were Gold Springs Resource (GRCAF) exploration expenditures for 2025?

Exploration spending was $0.97 million for 2025, representing a substantial increase year-over-year. According to Gold Springs Resource, this compares with $0.55 million in 2024, reflecting higher field activity and related exploration costs during 2025.

What net loss did Gold Springs Resource (GRCAF) report for the year ended December 31, 2025?

Gold Springs Resource reported a net loss of $0.66 million for 2025, with loss per share of $0.00. According to Gold Springs Resource, the change versus 2024 reflected the absence of a 2024 disposal loss and foreign exchange effects in 2025.

How much cash did Gold Springs Resource (GRCAF) have at December 31, 2025?

The company held $0.05 million in cash at year-end 2025. According to Gold Springs Resource, this is the reported cash balance as of December 31, 2025, shown in the audited consolidated financial statements.

Did Gold Springs Resource (GRCAF) disclose any significant non-operating losses in 2025?

Gold Springs Resource recorded foreign exchange losses of $0.03 million during 2025. According to Gold Springs Resource, this foreign exchange impact is noted as a contributor to the 2025 net loss.

Where can investors find Gold Springs Resource (GRCAF) 2025 financial statements and AIF?

Investors can access the audited financial statements, MD&A and annual information form filed for 2025. According to Gold Springs Resource, these documents were released together for the year ended December 31, 2025 and are available through the company's disclosure channels.