Gold Springs Resource Corp. Files Q3 2022 Financial Statements and MD&A

About this update from Gold Springs Resource Corp.

[{"type":"text","content":"Gold Springs Resource Corp. Files Q3 2022 Financial Statements and MD&AVANCOUVER, BC / ACCESSWIRE / November 10, 2022, / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) (the \"Company\"), reports the release of its unaudited consolidated financial statements for the three and nine months ended September 30, 2022 and the related management's discussion and analysis of financial position and results of operations (\"MD&A\"). In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.During the nine months ended September 30, 2022, general and administrative expenses, excluding non-cash share-based payments, decreased to $0.51 million compared with $0.53 million during the nine-month period ended September 30, 2021. During the three months ended September 30, 2022, general and administrative expenses, excluding non-cash share-based payments, increased to $0.15 million compared with $0.14 million during the nine-month period ended September 30, 2021. Exploration spending during the nine months ended September 30, 2022, increased to $4.34 million, from $2.44 million incurred during the same period of last year, of which $0.24 million was funded by the Series A Secured Rights consideration. During the nine months ended September 30, 2022, the Company reported a net loss of $0.90 million ($0.00 loss per share) compared with a net loss of $1.14 million ($0.01 loss per share) for the nine months ended September 30, 2021. During the three months ended September 30, 2022, the Company reported a net loss of $0.28 million ($0.00 loss per share) compared with a net loss of $0.28 million ($0.00 loss per share) for the three months ended September 30, 2021. As of September 30, 2022, the Company had cash of $0.58 million.2022 Exploration activities conducted at the Gold Springs projectThe 2022 drill program commenced at South Jumbo in April and concluded in early November with the Company having completed 77 RC holes for a total of 16,226 meters of the 2022 drilling program:24 holes around the South Jumbo resource,22 holes around the North Jumbo resource,19 holes around the Charlie Ross resource discovered in 2021,2 holes on the previously untested Snow target,5 holes on the Red Light target,5 holes on the Horseshoe Extension target.Assays have been received from 41 RC holes: 20 of the 24 at South Jumbo ,...

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