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GoldSpring Announces 65 Foot Interval of 0.123 Ounces Per Ton Gold and 2.23 Ounces Per Ton Silver at Its Hartford/Lucerne Deposit, Comstock District, Nevada

Posted on: Tuesday, 24 February 2009, 13:36 CST

GOLD HILL, Nev., Feb. 24 /PRNewswire-FirstCall/ -- GoldSpring, Inc. (OTC Bulletin Board: GSPG) announced today the assay results of 10 infill drill holes with high concentrations of gold and silver, specifically in drill holes: RC-102, with a 65-foot interval at 0.123 ounces per ton of gold and 2.23 ounces per ton of silver; and RC-104 with a 115-foot interval at 0.091 ounces per ton of gold and 1.98 ounces per ton of silver.

The 10 drill holes, RC-102 thru RC-111, are located in the central portion of the Hartford/Lucerne Complex in the Comstock District of Nevada.

Larry Martin, GoldSpring's Chief Geologist, said: "These 10 drill hole results are characterized by long contiguous intervals of gold and silver mineralization, which illustrate the deposit's continuity and expansion at Lucerne/Hartford. The long runs of gold and silver mineralization are punctuated by drill holes RC-103, RC-104, RC-107 and RC-109."

The high-grade mineralization of drill hole RC-102 are contrasted in depth and mineral concentration from a 35 foot interval beginning at the surface grading 0.081 ounces per ton gold and 2.28 ounces per ton silver and an 120 foot interval starting at a 170 feet below the surface grading 0.047 ounces per ton of gold.

Table 1 New Drill Result Highlights, Lucerne Pit, Comstock District Nevada Significant intercepts calculated using 0.010 ounces per ton gold cut-off. Hole ID From To Length Gold Gold Silver Silver (feet) (feet) (feet) (ounces (grams (ounces (grams per Ton) per per Ton) per Tonne) Tonne) RC-102 0 35 35 0.081 2.77 2.28 105.5 170 290 120 0.047 1.62 0.55 18.9 Including 185 220 35 0.120 4.09 0.78 26.7 325 390 65 0.123 4.21 2.23 84.5 RC-103 0 180 180 0.034 1.15 0.83 28.5 Including 60 85 25 0.123 4.19 2.10 72.0 RC-104 0 190 190 0.057 1.95 1.17 40.1 Including 75 190 115 0.091 3.12 1.98 67.7 RC-105 235 245 10 0.052 1.78 0.47 16.2 RC-106 15 50 35 0.017 0.59 0.49 16.7 130 140 10 0.019 0.63 0.33 11.3 RC-107 115 225 110 0.028 0.97 0.27 9.1 Including 125 165 40 0.058 1.98 0.33 11.4 RC-108 125 145 20 0.019 0.65 1.34 45.8 200 215 15 0.047 1.62 0.74 25.5 250 265 15 0.027 0.92 0.87 29.8 310 400 90 0.022 0.75 1.05 35.9 RC-109 0 100 100 0.040 1.37 0.71 24.3 Including 65 95 30 0.102 3.48 0.80 27.2 RC-110 90 105 15 0.039 1.32 0.47 16.2 120 130 10 0.024 0.80 0.14 4.9 140 160 20 0.028 0.97 0.12 4.2 320 340 20 0.043 1.46 0.70 2.5 RC-111 0 40 40 0.049 1.66 1.52 51.9 105 190 85 0.029 0.98 0.50 16.9 205 220 15 0.039 1.32 0.23 7.7

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 0.010 ounces per ton gold 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. Jim Golden, GoldSpring's Chief Operating Officer.

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 secured several of the key mining permits required 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 U.S. 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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