GSP Resource resumes Mer permitting process

The most recent news release from GSP Resource Corp. on October 31, 2025, provides an update on two key areas: 1. Mer Project Permitting: The permitting process for the Mer project has resumed following the resolution of the BCGEU (British Columbia Government and Service Employees' Union) strike. A draft five-year multiyear area-based permit application has been prepared and submitted to the BC Ministry of Mining and Critical Metals. This application outlines an initial Year 1 diamond drilling program, with provisions for expansion drilling in the subsequent four years. 2. Marketing Agreement: The company has entered into a six-month marketing and communications services agreement with GRA Enterprises LLC, effective October 31, 2025. The services include production and publication of investor bulletins, distribution to an email list, and posts through blogs and social media accounts. Compensation for these services is $60,000 USD, payable in cash. GRA Enterprises LLC is an arm's-length party, does not currently own company securities, and the agreement contains no performance factors, shares, or options as compensation.

The news is a routine positive update for GSP Resource Corp. in the context of its ongoing exploration and corporate activities.

The resumption of the Mer project permitting process is a positive, but expected, development. Previous news (March 13, 2025) indicated the company was preparing to submit the drill permit application, and by September 16, 2025, it was stated that the application had been submitted. The current release confirms that the process, likely paused due to the BCGEU strike, is now actively moving forward with the formal submission of a comprehensive five-year plan. This is a step towards de-risking the Mer project and advancing it to drilling, which is crucial for an exploration company. However, it is not a "game-changer" as it does not announce new discoveries, significant resource upgrades, or major funding. It is a confirmation of a previously announced initiative progressing.

The marketing agreement with GRA Enterprises LLC is a routine business development for a junior exploration company seeking to enhance investor awareness, especially in a challenging market. The $60,000 USD cash compensation over six months is a standard cost for such services and does not involve dilution through equity issuance. While aiming to positively influence investor perception and potentially trading volume, it does not have a direct material impact on the company's fundamental value, asset base, or operational capacity.

Considering both aspects, the news is a positive confirmation of business as usual for GSP, demonstrating progress on key exploration initiatives and efforts to engage the market, but it does not represent a material shift in the company's prospects or risk profile.

GSP Resource Corp. (GSPR) is a mineral exploration company focused on developing copper, gold, silver, and molybdenum projects in British Columbia, Canada.

Flagship Project: Alwin Mine Property - Location: South-central British Columbia, within the Highland Valley Copper Camp, adjacent to Teck Resources' large Highland Valley Mine. - Size: 344 hectares. - History: Operated between 1916 and 1981, producing 3,786 tonnes of copper, 2,729 kilograms of silver, and 46.2 kilograms of gold from 233,100 tonnes milled at an average diluted head grade of 1.5% copper. - Current Status: GSP completed 100% acquisition of the Alwin project in January 2025. - Mineral Resource Estimate (MRE): An initial NI 43-101 Inferred Mineral Resource Estimate, effective September 16, 2024 (filed January 20, 2025), outlined 1.46 million tonnes at an average grade of 1.08% copper, containing 34.6 million pounds of copper. This resource includes both open-pit (66% of contained copper at 0.2% Cu cut-off) and underground (34% at 0.8% Cu cut-off) potential. The MRE acknowledged significant gold and silver potential not fully captured due to historic assay limitations. - Recent Exploration Highlights: - Late 2024/early 2025 drilling discovered a new high-grade gold zone, with intercepts up to 22.93 g/t Au and 1.82% Cu over 1.64m (within 5.04 g/t Au and 1.01% Cu over 7.90m) in hole AM-24-06. - A property-wide NSAMT geophysical survey completed in August 2025 identified a large conductive anomaly at depth (600-1200m) in the northern portion of the property, consistent with porphyry-style alteration. - Fall 2025 field crews conducted rock geochemical sampling and geologic mapping to define future drill targets. - Geology: Mineralization is characterized by steep vertical zones of brecciation and shearing, with copper minerals (bornite, chalcopyrite, chalcocite) occurring as bleeds and clots within altered quartz monzonite.

Secondary Project: Mer Property - Location: Also in the Highland Valley Copper Camp, approximately 1.5 to 2.5 km northwest of the Alwin project, surrounded by Teck Resources' claims. - Size: 185 hectares. - Interest: 100% owned by GSP. - Target: Porphyry copper-molybdenum mineralization. - History: Historic percussion drilling identified significant copper intercepts (e.g., 30m of 0.53% Cu). - Current Status: A five-year multiyear area-based drill permit application was prepared and submitted as of September 2025, with the permitting process resuming in October 2025. Fall 2025 activities included a soil geochemical grid program.