Early Warning Press Release Regarding Securities of Gold Springs Resource Corp.
NYON, May 7, 2021 - Antonio Canton reports that he owns and controls 30,181,480 common shares (the "Common Shares") of Gold Springs Resource Corp. (the "Company") of Suite 880 - 580 Hornby Street, Vancouver, British Columbia, V6C 3B6, following the completion of private purchase and sale transactions on May 6, 2021 (the "Transaction"), whereby Mr. Canton acquired 24,854,288 Common Shares at a price of CAD$0.11 per share for a purchase price of CAD$2,733,971. The 24,854,288 Acquired Shares represent 9.96% of the Company's 249,448,164 currently issued and outstanding Common Shares. Prior to the Transactions, Mr. Canton owned and controlled 5,327,192 Common Shares and held stock options and warrants of the Company entitling him to acquire 5,600,000 Common Shares representing 4.28% of the issued and outstanding Common Shares on a partially-diluted basis. After the Transactions, Mr. Canton owns and controls 30,181,480 Common Shares and stock options and warrants entitling him to acquire 5,600,000 Common Shares, representing 12.10% of the issued and outstanding Common Shares on a non-diluted basis and 14.03% on a partially-diluted basis. Mr. Canton advises that his acquisition of the Acquired Shares is for investment purposes only. He has no current intention to dispose of any securities of the Company and may acquire additional securities in the future. Mr. Canton has been an active director of the Company for more than 10 years. He was instrumental in negotiating the merger between South American Silver Corp. and High Desert Gold Corp. that resulted in the Company acquiring the Gold Springs Project. Together with management of the Company, he negotiated the settlement agreement with the Government of Bolivia to settle SAC's international arbitration against Bolivia for the 2012 expropriation of the Malku Khota project. Most recently, he was instrumental in structuring the Non-Equity Financing Structure of up to US$20 Million to Fund exclusively Drilling Programs at Gold Springs.
A copy of the corresponding report required by the early warning requirements can be obtained by contacting Mr. Canton at +41229792577.
SOURCE: Antonio Canton