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GoldSpring Announces 140 Foot Gold Interval Grading 0.242 Ounces Per Ton at its Hartford / Lucerne Deposit, Comstock District, Nevada

Posted on: Wednesday, 18 February 2009, 13:21 CST

GOLD HILL, Nev., Feb. 18 /PRNewswire-FirstCall/ -- GoldSpring, Inc. (OTC Bulletin Board: GSPG) is pleased to announce the assay results from drill hole RC-101 from the Hartford / Lucerne deposit in the Comstock District of Nevada. Drill hole RC-101 contains a 345 foot interval grading 0.119 ounces per ton gold (3.67 g/t) including 140 feet grading 0.242 ounces per ton gold (7.56g/t). This drill assay data expands the resource being defined in the Lucerne deposit to northwest onto the historic Justice mine.

Drill hole RC-101 intersected a second deeper gold interval of 40 feet of 0.143 ounces per ton gold (4.45g/t). The deeper zone evidences underground targets of 15 feet grading 0.394 ounces per ton gold (12.25g/t) and 10 feet grading 0.162 ounces per ton gold (5.07g/t). Underground mining potential has been exhibited in RC-101 and targeted using GoldSpring's active block model with historical mapping and workings. The Hartford/Lucerne deposit contains multiple high-grade zones, moderately dipping to the east localized along the regional scale, north trending Silver City - Gold Hill fault zone.

Commenting on the recent results, GoldSpring's Chief Operating Officer Jim Golden said, "Our team continues to demonstrate progress in their ability to utilize our active block model to target higher grade materialization for both surface and underground mining. The assay results for RC-101 give way to a more extensive exploration drill plan of the mineral system to depth. We have offset RC-101 approximately 50 feet to the south to help measure the extent of this near surface high-grade intercept. The assay results from this hole are still pending."

Table 1 RC-101 Result Highlights, Hartford Deposit Comstock District Nevada Significant intercepts calculated using 0.010 ounces per ton gold cut-off. Gold Gold Silver Silver (ounces (grams (ounces (grams per per per per From To Length U.S. U.S. U.S. U.S. Hole ID (feet) (feet) (feet) Ton) Ton) Ton) Ton) --------------------------------------------------------------------- RC-101 20' 365' 345' 0.119 3.67 0.89 27.68 High grade zone included above 125' 265' 140' 0.242 7.56 1.49 46.50 555' 570' 15' 0.394 12.25 0.48 14.93 585' 595' 10' 0.162 5.07 2.26 70.29

RC-101 is located west of drilling concentrated to the northeast of the historic Lucerne pit. This new area expands the resource to the west of the drill defined precious metals deposit.

As reported to GoldSpring, all drill samples were collected following standard industry practice and were assayed by American Assay Laboratories, Inc. of Sparks, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. QA/QC included the insertion of numerous standards and blanks into the sample stream. Check assays and preliminary cyanide amenability testing is underway. All intercepts are reported as drilled using a 0.30 gram/tonne cut-off; true widths have not been determined. All data, as reported to the Company and disclosed in this press release including sampling, analytical and test data have been reviewed by the Company's qualified person Mr. Larry Martin, Certified Professional Geologist.

About GoldSpring, Inc.

GoldSpring, Inc. is a North American precious metals mining company, focused in Nevada, with extensive land holding in the Comstock Gold-Silver District of Nevada. The Company has defined an initial resource at the Hartford deposit and has acquired several of the key mining permits require to develop the project. The Company is currently engaged in an aggressive exploration program to define the extent of the Hartford Deposit, assess other key exploration targets on its large land package and push the project toward production. The high-grade nature of the bulk tonnage Hartford deposit and its favorable configuration has positioned the Company to become a new gold-silver producer in the future.

Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms on this press release, such as "measured", "indicated", and "inferred" resources, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml

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 filings with the U.S. Securities and Exchange Commission, 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.

Contact information for GoldSpring, Inc.: P.O. Box 1118 Virginia City, NV 89440 Tel 775.847.5272 Fax 775.847.4762 http://www.goldspring.us Robert T. Faber, President and CEO 480.603.5151 775.847.5272 E-mail: rfaber@goldspring.us

SOURCE GoldSpring, Inc.

Source: PR Newswire

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