GoldSpring, Inc. Announces Additions to Its Comstock Lode Team
GOLD HILL, Nev., Nov. 6 /PRNewswire-FirstCall/ -- GoldSpring, Inc.
(OTC Bulletin Board: GSPG) announced today the appointment of Dwight Juras,
PH.D in Geology, and Mike Norrad, Graduate of the Colorado School of Mines, to
its consulting team to assist in the development of its project in the
Comstock Lode district. Mr. Juras has over 30 years of diverse experience in
structural ore control and geological surveying and mapping of vein systems.
Mr. Norrad has more than 30 years of experience in developing engineering data
base management, technical graphics, geostatistics, and numeric analysis
software for the mining industry. For the last 24 years, Mike has served as
President of Techbase International, Ltd., where he developed the widely-used
Techbase software system for mining companies.
Company COO, James Golden, stated, 'These two professionals are well known
industry experts with established mining history in the Comstock Lode region.
Their initial responsibilities will be to review the geological data developed
by our team over the last several months, assist with our drilling program and
to integrate the findings into our mine plan we have been developing during
2007. We continue to identify other professionals with specific skills to
strengthen our team.'
The Company spent most of 2007 analyzing geological data, developing
geological mapping, planning developmental and exploration drilling and
developing a comprehensive mine plan. These steps were taken to improve the
Company's overall mining, milling and processing procedures. The Company
anticipates the drilling program to commence in the short term, subject to its
ability to raise adequate capital. Mining and milling activities should
resume immediately following the completion of the mine plan, upon receipt of
adequate financing.
GoldSpring, Inc. is a North American precious metals mining and milling
company with an operating gold and silver mine in northern Nevada. The
Company was formed in mid-2003 and acquired the Plum Mine property in November
2003. In the Company's relatively short history, it secured permits, built an
infrastructure and brought the Plum project into production. During 2005, the
Company acquired additional properties around the Plum project in northern
Nevada, expanding its footprint and creating opportunities for exploration.
GoldSpring is an emerging company, looking to build on its success through the
acquisition of other mineral properties in North America with reserves and
exploration potential that can be efficiently put into near-term production.
The Company's objectives are to increase production, increase reserves through
exploration and acquisitions, expand its footprint at the Plum mine, and
maximize cash flow and return for its shareholders.
The Private Securities Litigation Reform Act of 1995 provides a 'safe
harbor' for forward-looking statements. Certain information included in this
communication (as well as information included in oral statements or other
written statements made or to be made by GoldSpring) contains statements that
are 'forward-looking,' as defined in Section 21E of the Securities Exchange
Act, such as statements relating to the future anticipated direction of the
high technology and energy industries, plans for future expansion, various
business development activities, planned capital expenditures, future funding
sources, anticipated sales growth, mining capability and potential contracts.
Such forward-looking information involves important risks and uncertainties,
which include the risk factors disclosed in our most recent Form 10-KSB filed
on April 15, 2005, that could significantly affect anticipated results in the
future and, accordingly, such results may differ from those expressed in any
forward-looking statements made by or on behalf of GoldSpring. These risks and
uncertainties include, but are not limited to, those relating to development
and expansion activities, dependence on existing management, financial
activities, domestic and global economic conditions, changes in federal or
state tax laws and market competition factors. These and other factors, which
could cause actual results to differ materially, are discussed in more detail
in GoldSpring's filings with the Securities and Exchange Commission.
Forward-looking statements include statements regarding our expectations,
beliefs, intentions or strategies regarding the future and can be identified
by forward-looking words such as 'anticipate,' 'believe,' 'could,' 'estimate,'
'expect,' 'intend,' 'may,' 'should,' 'will,' and 'would' or similar words. We
assume no obligation to update the information included in this press release,
whether as a result of new information, future events or otherwise.
Robert T. Faber, President and CEO (480) 603-5151 (775) 847-5272 E-mail: rfaber@goldspring.us
