Golden Spike Resources Corp. provided the results of an Induced Polarization/Resistivity ("IP") survey completed earlier this year over its 100%-owned Gregory River property (the "Property") located in Newfoundland, Canada. The IP survey covers the Lode 9 Target area and revealed several chargeability anomalies within the prospective Gregory River volcanogenic massive sulphide ("VMS") corridor, including: Lode 9 Anomaly: 500 metre ("m") long, north-trending anomaly coinciding with the historic Lode 9 prospect and Noranda drill hole GR-91-2 (7.2 metres grading 2.12% copper and 0.60 g/t gold).

West Anomaly: 300m long, north trending anomaly, subparallel to and west of the Lode 9 Anomaly; Northeast Anomaly: 500m long, north-northeast trending anomaly in the northeast corner of the survey. The Lode 9 grid comprised of 11, east-west oriented, 100-metre ("m") spaced lines, each ranging between 400m and950m in length and together totaling approximately 7.75 line-kilometres. The survey was designed to outline potential chargeable and resistive features that could indicate the presence of VMS-style alteration and associated sulphide mineralization, and to identify new drill targets.

The survey results are very encouraging and resulted in several moderate intensity chargeability anomalies, coincident with areas of higher resistivity, and in some cases historically explored prospects. The survey data remains to be further evaluated thorough in versions, which can generate a more accurate representation of the resistivity and chargeability distributions at deeper levels and better define drilling targets. Portions of these soil anomalies coincide the Lode 9 chargeability anomaly.

Noranda core hole GR-91-2 was drilled below the Lode 9 prospect and intersected 7.2m grading 2.12% Cu and 0.60 g/T Au at a vertical depth of about 20m below the outcrop. Even though Noranda recommended additional follow-up drilling, none was ever completed. Although the Company has not been able to validate all of these historical exploration results, the work was completed by well-known major companies RioCanex (Rio Tinto) and Noranda and returned copper and gold values in similar ranges to recent sampling completed by Golden Spike on other portions of the property.

Such risks include, without limitation: the volatility of global capital markets, political instability, unanticipated costs, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the lack of availability of capital and financing, general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain all necessary community acceptance (including First Nations), increase in costs, failure of counterparties to perform their contractual obligations, failure of the exploration program, including the recent IP survey and potential future drilling to result in the discovery of significant precious and/or base metal mineralization, and those risks, uncertainties and factors set forth in the Company's disclosure record under the Company's profile on SEDAR at SEDAR at SEDAR.