Gold Springs Resource Corp. Files Q3 2026 Financial Statements and MD&A

Rhea-AI Summary

Gold Springs Resource (GRCAF) released unaudited consolidated financial statements and management discussion for the three and nine months ended September 30, 2026. Nine-month net loss narrowed to US$0.38 million from US$0.48 million; quarterly net loss narrowed to US$0.10 million from US$0.18 million. General and administrative expenses excluding non-cash share-based payments fell to US$0.36 million from US$0.41 million over nine months and to US$0.10 million from US$0.14 million for the quarter. Nine-month exploration spending was US$0.51 million versus US$0.77 million a year earlier, primarily for environmental and permitting work and land and option payments. Cash was US$0.04 million at September 30, 2026.

4 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 0 points

How the balance works

Positive

• Moderate pointNine-month net loss narrowed to US$0.38 million from US$0.48 million in the comparable 2025 period.
• Minor pointQuarterly net loss narrowed to US$0.10 million from US$0.18 million in the comparable 2025 period.
• Minor pointNine-month administrative expenses, excluding non-cash share-based payments, fell to US$0.36 million from US$0.41 million year over year.
• Minor pointQuarterly administrative expenses, excluding non-cash share-based payments, fell to US$0.10 million from US$0.14 million year over year.

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Vancouver, British Columbia--(Newsfile Corp. - November 12, 2026) - Gold Springs Resource Corp. (TSX: GRC) (OTCQB: GRCAF) (the "Company"), reports the release of its unaudited consolidated financial statements for the three and nine months ended September 30, 2026 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 nine months ended September 30, 2026, general and administrative expenses, excluding non-cash share-based payments, decreased to $0.36 million compared with $0.41 million during the nine months ended September 30, 2025. During the three months ended September 30, 2026, general and administrative expenses, excluding non-cash share-based payments, were $0.10 million compared with $0.14 million during the three months ended September 30, 2025. Exploration spending during the nine months ended September 30, 2026 was $0.51 million compared with $0.77 million incurred during the same period of the prior year, primarily arising from environmental and permitting work and land and option payments. During the nine months ended September 30, 2026, the Company reported a net loss of $0.38 million ($nil loss per share) compared with net loss of $0.48 million ($nil loss per share). During the three months ended September 30, 2026, the Company reported a net loss of $0.10 million ($nil loss per share) compared with net loss of $0.18 million ($nil loss per share). As of September 30, 2026, the Company had cash of $0.04 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.

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. 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/323854

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Gold Springs Resource's Q3 2026 and nine-month net losses?

Gold Springs Resource reported a quarterly net loss of US$0.10 million and a nine-month net loss of US$0.38 million. The comparable prior-year losses were US$0.18 million and US$0.48 million, respectively. Loss per share was nil for both reported periods and their comparisons.

How much cash did Gold Springs Resource have at September 30, 2026?

Gold Springs Resource had US$0.04 million in cash at September 30, 2026.