GoldSpring Appoints Experienced Mining Executive

October 14, 2009

GOLD HILL, Nev., Oct. 14 /PRNewswire-FirstCall/ — GoldSpring, Inc. (OTC Bulletin Board: GSPG) is pleased to announce that it has appointed Robert A. Reseigh to serve as interim Chief Executive Officer (CEO). In this role, Mr. Reseigh will oversee all activities of the company, focusing on the resumption of mine production for the Company’s Comstock Mine project. Mr. Reseigh has served as a Director of GoldSpring since 2008, and is a recognized expert and independent consultant for tunnel, shaft, and mine development projects. Mr. Reseigh brings a wealth of mining expertise and executive oversight to GoldSpring.

Mr. Reseigh has over 40 years of experience in the mining and underground construction industries. As a mining and civil engineering executive, he has overseen more than $1 billion in civil and mine construction projects in his career. Mr. Reseigh commented, “I’ve been a part of many successful mines. It’s great to be a part of a gold company again, and I’m particularly excited by this project, with its immediate production opportunities and great exploration potential.”

“Bob is a seasoned mining professional, and we have benefited greatly from Bob’s service as a Director,” stated Bill Nance, GoldSpring’s Chairman of the Board. “As CEO, Bob strengthens our executive team, and his experience in constructing and operating mines will be instrumental in our plan to resume mine production. In addition, Rob Faber will continue to serve as the Company’s President and CFO, focusing on corporate matters and finance needs of our expanding enterprise.”

About Mr. Reseigh

Mr. Reseigh holds a Master of Science, Engineer of Mines degree from the Colorado School of Mines. Mr. Reseigh spent nearly 20 years with Peter Kiewit, a construction company, which is one of the largest privately-held companies in the United States. He held several positions with Peter Kiewit, including Vice President and Area Manager for Precious Metals Mine Projects. After leaving Peter Kiewit, Mr. Reseigh served as Executive Vice President of Atkinson Construction Company, a subsidiary of Clark Construction, where he directed all construction projects performed by the corporation. The international portfolio of design and construction projects for which Mr. Reseigh has been responsible in his career include the Sapir Pumping Plant for the Mekoroth Water Company in Israel, the McCormick Place West Hall Expansion Storm Water Tunnel in Chicago, and the Minorco Lisheen underground lead and zinc mine in Ireland. Mr. Reseigh has been a frequent speaker at mining and construction industry conferences and has published several industry-specific papers. Mr. Reseigh has also been appointed as a member of the Moles Association and the Beavers Association, East Coast- and West Coast-based associations of prominent individuals in the heavy construction industry.

About GoldSpring, Inc.

GoldSpring, Inc. is a North American precious metals mining company, focused in Nevada, with extensive, contiguous property in the Comstock Lode District. In the Company’s relatively short history, it secured permits, built an infrastructure and brought the Comstock Lode project into production. Since 2005, the Company has been acquiring additional properties around its Comstock Lode project in northern Nevada, expanding its footprint and creating opportunities for exploration and mining. A drilling program through early 2009 has produced encouraging results, and led to increased engineering and permitting activities with the goal of returning the mine to production. The Company’s objectives are to resume mine production, optimize metallurgical and mine processes, increase reserves through exploration and acquisitions, and continue to expand its footprint in the Comstock.

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


    Robert T. Faber, President and CEO
    E-mail: rfaber@goldspring.us

SOURCE GoldSpring, Inc.

Source: newswire

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