📣 The Big Plan: Drilling for Gold and Copper ⛏️

GSP Resource Corp. (GSP) has announced a detailed, two-phase plan to aggressively explore its mineral properties in the Highland Valley Copper Camp of British Columbia. This initiative will involve drilling at two key sites: the Alwin Mine (targeting high-grade gold) and the Mer property (targeting massive copper).

The first phase of drilling is slated to begin in Q2 2026. The company plans to use the data gathered from these initial holes to determine if, and when, a second phase of exploration can launch, which would likely occur during the fall season.

👉 In short, GSP is raising money and preparing to drill to prove up two different, potentially huge, types of valuable minerals: gold and copper.

🏢 Company Context: What Does GSP Do? 🌐

GSP Resource Corp. is a mineral exploration and development company. Their focus is on copper, gold, and silver assets located in Southwestern British Columbia. They own 100% of the title to the Alwin Mine Copper-Gold-Silver Property and the Mer Property.

👉 The company's business model is classic exploration: spending money now on drilling and analysis in hopes of finding resources that can eventually be mined for profit years down the road.

🟡 The Alwin Gold Play: Following the Trail of Riches ✨

The primary target at the Alwin property is high-grade gold, following up on a major discovery in late 2024. This new discovery, found in step-out hole AM-24-06, was extremely rich, yielding over 5.04 grams-per-tonne (g/t) Gold (Au) and 1.01% Copper (Cu) over 7.90 meters.

The company believes the high-grade gold deposits are structurally linked to the broader copper-gold-silver zones. They plan to drill further, both laterally (sideways) and vertically (downwards), to test the extent of this gold mineralization.

👉 This is a critical moment because the new gold discovery suggests a bigger, previously un-modeled resource that could expand their existing mined copper resources.

🟢 The Mer Copper Play: Searching for Porphyry Potential 🔬

At the separate Mer property, GSP is aiming for a different, but equally exciting, type of deposit: porphyry copper. This type of deposit is often characterized by large, disseminated (spread out) veins of copper.

GSP generated a new copper anomaly by sampling historical and surface rock, defining an area that is approximately 175 x 120 metres and is open to the northwest. The site also has a rich history, previously defined by porphyry copper-molybdenum mineralization.

👉 This Mer target, located near the active Teck Resource's Highland Valley Copper operation, represents an opportunity to test a massive copper resource in a mineral-rich area.

💰 Funding the Mission: Private Placements for Exploration 💸

To fund this expensive drilling program, GSP is planning two separate non-brokered private placements, totaling an aggregate gross proceeding of up to $1,000,000.

1. The Unit Placement: Up to 4,166,667 Units will be sold at $0.12 per Unit. Each Unit includes one common share and a warrant to buy additional shares later.
2. The Flow-Through Share (FT) Placement: 3,333,333 FT Shares will be sold at $0.15 per FT Share. These shares are specifically designed to help the company claim tax credits (like the CMETC) associated with critical mineral exploration.

👉 The money raised will be directly used for the exploration work at the Alwin and Mer properties, allowing them to move quickly and efficiently.

🔮 What's Next: The Development Timeline 🗓️

The next steps are highly dependent on both the drilling results and available funds. GSP expects the financing to close by May 15th, 2026, funding the initial drilling phase.

The company is highly optimistic that if the initial Q2 2026 drilling proves successful, they will have the data needed to plan and initiate a second, larger phase of drilling during the fall exploration season.

🧠 The Analogy

Think of GSP Resource Corp. like a detective team looking for a massive, lost treasure chest. Instead of just hoping the chest is there, they are methodically mapping out the area (the porphyry target), shining powerful lights on key spots (the high-grade gold), and digging small test holes (the initial drilling). By proving that the valuable metal deposits exist and are connected, they build the confidence and the data needed to finally start the big excavation.

🧩 Final Takeaway

GSP is transitioning from planning to action, announcing a multi-million-dollar exploration campaign starting in Q2 2026 to confirm high-grade gold at Alwin and potentially massive copper at Mer. The successful completion of the $1 million private placements is crucial, as those funds are the fuel for the entire operation.

HomeAbout + PricesSocial MediaNews TeamReferencesArchiveCopy Archive --> GSP Resource Corp. Announces Phase 1 Drilling Plan at Alwin-Mer Properties Targeting Porphyry Copper and High-Grade Gold Expansion, Highland Valley, BC 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 Click Image To View Full Size 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 Click Image To View Full Size Figure 3: Mer Proposed Drilling Oblique View Looking North Click Image To View Full Size 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