North Springs Resources Corp.
OTCBB : NSRS
PINKSHEETS : NSRS

North Springs Resources Corp.

February 02, 2012 09:00 ET

North Springs Resources Analysis at Goldstar Property Indicates Potential for Up to Multi-Billion Dollar Gold Estimate

LAS VEGAS, NEVADA--(Marketwire - Feb. 2, 2012) - North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the "Company" or "North Springs") is pleased to report that the Company has positively re-analyzed the potential reserve estimates for the Goldstar/One Arm Joe Gold Project (the "Goldstar Property" or "Goldstar") made by previous operators. Surface observations and new data collected from the ongoing drill program at Goldstar, along with historic references to the property, comparable mines in the surrounding area, previously available sampling and exploration data pertinent to the Goldstar site, and based on industry standards, indicate that the possible reserve estimate for the property could be as high as 2,769,230 tons grading 0.7 oz. gold/ton, or 1,938,461 ounces of gold.

Calculation of the updated potential gold estimate utilized numerous visual observations at Goldstar and historical information of the Goldstar site and surrounding areas which indicate that various sections of gold bearing quartz veins in the region may reach continuous depths down to approximately 2,000 feet. The Goldstar Property consists of 9,000 feet of a gold bearing quartz vein that appears to be 1-2 feet wide on average at the surface stretching over two zones (Goldstar: 6,000 feet and One Arm Joe: 3,000 feet) and nine (9) claim blocks totaling 180 acres. Notably, the gold bearing quartz vein that runs the length of the Goldstar site appears to be approximately six miles long - an area that well surpasses the Goldstar site.

"As we move forward with exploration at Goldstar, the overall size and potential of the project continues to grow and impress us," stated Harry Lappa, President of North Springs Resources. "Our new found knowledge of the property and area indicate that we could be sitting on up to 2,000,000 ounces of gold at Goldstar, which, if realized, could be worth approximately $3.2 billion at today's gold prices. Exploration and drilling will continue as we strive to prove up this possible massive resource."

North Springs and its partners are currently conducting a 21-hole drill program at Goldstar, focusing on seven (7) high-priority target areas. North Springs earned its 20% interest in the Goldstar Property by already supplying funding of $500,000 towards the current exploration and development program. The Company also has the right to acquire an additional 15% interest in the Goldstar Property by supplying $3,000,000 in funding for further exploration and development.

Though there are no actual reserves currently identified at Goldstar, the Company's ongoing exploration activities are aimed at proving up reserves at the Goldstar site. Further updates regarding the Goldstar/One Arm Joe Gold Project will be disseminated as additional information becomes available.

About North Springs Resources Corp.

North Springs Resources Corp. is focused on the evaluation, acquisition, exploration, and development of mineral resource properties. The Company is led by a skilled and experienced management team and independent consulting geologists with many years of experience. North Springs is committed to creating value for its shareholders by advancing its current holdings and by acquiring new properties with significant potential.

For additional information, please visit www.northspringsresources.com.

Harry Lappa, President

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. TO DATE, NO ACTUAL RESERVES HAVE BEEN IDENTIFIED AT THE GOLDSTAR SITE. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH NATURAL RESOURCE EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-K AND ON FORM 10-Q AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. FINRA, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

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