North Springs Resources Corp.
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PINKSHEETS : NSRS

North Springs Resources Corp.

January 10, 2012 09:00 ET

North Springs Resources Discusses the Imperial Gold and Silver Property in Nevada-Dispatches Geological Team to Site for Detailed Project Review and Exploration Program Development

LAS VEGAS, NEVADA--(Marketwire - Jan. 10, 2012) - North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the "Company" or "North Springs") is very pleased to provide the following updated project and geological overview of the recently acquired Imperial Gold and Silver Property in Esmeralda County, Nevada, located about 150 miles northwest of Las Vegas in the Railroad Springs mining district. The well-known Goldfield mine, a historic five million ounce gold producer, is located 18 miles to the northeast. Easiest access to the property is by 13 miles of good gravel road from Silver Peak located to the north. The Silver Peak district is the second largest gold/silver producing area of Esmeralda County after Goldfield. Regionally, the Imperial Property is located within the Walker Lane, which hosts important precious metal deposits such as Bullfrog, Goldfield and Tonopah.

"The Imperial Property is an exceptional opportunity for North Springs to quickly prove up a significant gold resource and move it towards production. We have already dispatched our geologists to the property to conduct a detailed review of the project and plan our strategy to unlock its full potential," said Harry Lappa, President of North Springs. "Previous operators estimated a small gold resource of approximately 50,000 ounces on the Imperial Property. Our immediate goal is to launch an aggressive exploration program to test and verify the known mineralization and potentially increase the previous resource estimate. We anticipate a positive site visit from our team."

The Imperial Property project area is underlain largely by Cambrian age limestone, siltstone, shale and quartzite with lesser Tertiary age volcanics and intrusive dikes and Quaternary age alluvium. Favorable host rocks occur in the upper Campito formation and the middle Poleta formation within the project area. Abundant jasperoids, siliceous replacements of limey rocks, are found both along structures and as bedding plane replacements. Most of the jasperoids found on the property contain anomalous gold. Massive limestone of the lower Poleta formation may act as an aquaclude, helping to trap mineralized solutions. An altered Tertiary age quartz monzonite intrusive is exposed at the eastern end of the project area and younger Tertiary age felsic dikes are exposed throughout the property. Latite flows cover the higher topography bordering the project to the south.

Previous exploration programs conducted on the Imperial Property have identified and focused on four distinct targets associated with two major fault sets located in the project area. The four target areas include the Imperial Fault Target, the Jasperoid Breccia Target, the IP Target, and the Resource Target. The Imperial Fault and other associated west-northwest structural zones, have received the bulk of the exploration within the district. The Imperial fault can be followed on surface for approximately 4,000 feet and consists of at least three separate strands of near-vertical structures, although drilling indicates these faults may join at depth. All of the known high-grade gold/silver veins on the property are associated with the Imperial fault. Several other northeast trending faults that are largely covered but indicated by brecciated jasperoids and soil geochemistry trends, have received little attention as possible feeders. These faults serve as feeder structures to favorable host rocks in the middle Poleta formation at the Jasperoid Breccia and Resource targets. This set may also help enhance mineralization where it intersects the west-northwest fault set as at the eastern end of the Imperial Fault target.

Inspection of underground workings at the Imperial Mine indicates that the limited gold production came from high-grade (+0.30 oz/ton gold) shoots within three separate strands of the Imperial Fault. Although usually associated with hematitic/jarositic quartz and calcite, underground sampling indicates some gold values within decalcified siltstones and shales. There are therefore, two types of mineralization at Imperial, high grade veins and sediment hosted. Previous operators estimated that the Imperial Property could host approximately 50,000 ounces of gold as low grade disseminated mineralization with upside of both low grade disseminated and high grade vein mineralization.

Further information regarding the Imperial Gold Property and other North Springs exploration projects will be made 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. Currently, we are in the evaluation and acquisition phase of operations. 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. 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.

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