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



    GOLD HILL, Nev., Feb. 18 /CNW/ -- 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




    




For further information:

For further information: Robert T. Faber, President and CEO of
GoldSpring, Inc., +1-480-603-5151, +1-775-847-5272, rfaber@goldspring.us Web
Site: http://www.goldspring.us

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