GSP Completes Expanded 2026 Phase 1 Drilling at Alwin and Mer

GSP Resource Corp. (GSPR) has completed its expanded 2026 Phase 1 diamond drilling program at the 100%-owned Alwin Mine and Mer properties within British Columbia’s Highland Valley camp. The company drilled a total of 1,801 metres across eight holes, exceeding the initial plan of 1,200–1,500 metres.

At the Mer property, four maiden holes totaling approximately 651 metres all intersected near-surface visible copper mineralization. Hole ME‑26‑04 was deepened to 292.7 metres, marking the deepest hole ever drilled at Mer. This hole showed trace sulphide mineralization plus potassic, chloritic, and silicification alteration consistent with a porphyry copper target.

At the Alwin property, four step-out holes totaling approximately 1,150 metres followed up on the 2024 high-grade discovery hole (AM‑24‑06: 5.04 g/t Au, 1.01% Cu over 7.90 m). These holes encountered mineralized zones with quartz-chlorite-sericite and chalcopyrite-pyrite ± bornite, which are visually similar to the discovery.

No assay results are provided. Core has been logged and sent to ALS for analysis; results are expected in stages through Q3‑2026, with Alwin results coming first.

GSP Resource Corp. (GSPR) is a pre-revenue junior explorer holding an inferred copper resource at Alwin of 1.46 million tonnes at 1.08% Cu, alongside grassroots porphyry potential at Mer. The company recently completed drilling without releasing assay results, a development that does not alter the existing resource, the deposit’s extent, or the company’s net asset value.

The release aligns with the previously announced plan, as the market had already anticipated these holes to be drilled. The company executed 1,801 metres of drilling, modestly exceeding the 1,200–1,500 metre range, a result that is positive but not material. In the weeks leading up to the news, the stock traded between C$0.10 and C$0.11, showing no pre-release rally.

Given the company’s going-concern risk and a tiny cash balance of approximately C$237,000 as of February 28, 2026, bolstered by a $1.22 million raise in May, the market’s reaction will hinge solely on the upcoming assay results.

GSP Resource Corp. (TSXV: GSPR) is a Canadian junior explorer that holds 100% interests in the Alwin Mine project, a past producer of copper, silver, and gold, as well as the Mer property, a porphyry copper target. The company also holds an option on the Olivine Mountain property, which has been optioned to Full Metal Minerals.

The Alwin project hosts an Inferred resource of 1.46 million tonnes at 1.08% copper, equating to 34.6 million pounds of copper, with a 66/34 open-pit to underground split. In late 2024, the discovery hole AM-24-06 added a high-grade gold component, intersecting 5.04 g/t gold and 1.01% copper over 7.90 metres.

The Mer property is an early-stage porphyry target featuring historical percussion and diamond drilling, with the best result being 30 metres at 0.53% copper. The site also features a 175 by 120 metre copper-in-soil anomaly.

GSP Resource Corp. has approximately 48.4 million shares outstanding, with insiders owning roughly 22%. The company has a market capitalization of approximately C$4.8 million at a share price of C$0.10. It is pre-revenue, burning approximately C$40,000 per month in general and administrative expenses, and relies on equity financings.