GoldSpring Comments on Trading Activityadmin
GoldSpring, Inc. commented today on trading activity in its common stock. The Company knows of no reason for the significant decline in its share price.
The Company recently released its global resource estimate, which showed a 30% increase in gold resources compared to the Preliminary Resource Report in June. The new gold resource estimate, which includes 19 additional drill holes not included in the earlier Report, is 510,000 ounces. This is an increase of approximately 30%, or 118,000 gold ounces, from the June report. The Company anticipates that development activities will result in gold and silver production during 2009.
GoldSpring, Inc. is a North American precious metals mining company, focused in Nevada, with extensive, contiguous property in the Comstock Lode District. Our Company was formed in mid-2003, and we acquired two properties in the Comstock Lode before the end of the year. We secured permits, built an infrastructure and brought the exploration project into test mining production within a year of its acquisition. The Company, in 2005, began consolidating the Comstock Lode by acquiring additional properties in the district, expanding our footprint and creating opportunities for exploration and mining. We are an emerging company, looking to build on our success through the acquisition of other mineral properties in the Comstock Lode District with reserves or exploration potential. The Company’s objectives are to increase reserves through exploration, expand its footprint in the Comstock, resume mining, optimize its production, and maximize shareholder value.