North Springs Resources Corp.
OTC Bulletin Board : NSRS
PINKSHEETS : NSRS

North Springs Resources Corp.

January 27, 2012 09:00 ET

North Springs Resources Observes Target Mineralization at Goldstar Property-Quartz Veining and Iron Oxide Mineralization Seen at Surface

LAS VEGAS, NEVADA--(Marketwire - Jan. 27, 2012) - North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the "Company" or "North Springs") is pleased to provide this update regarding the drill program currently underway at the Company's 20% owned Goldstar/One Arm Joe Gold Project (the "Goldstar Property" or "Goldstar") located near Wickenburg, Arizona. Initial reports from the Project Operations Manager indicate that the drill program is proceeding as planned and that visual inspection of the first target area shows multiple sections of distinct rock discoloration indicative of both quartz veining and iron oxide mineralization.

"Visual confirmation of quartz veining and iron oxide mineralization is incredibly encouraging because both are considered the primary carriers of gold found at Goldstar and other producing gold properties in the area," stated Harry Lappa, President of North Springs Resources. "This is exactly the type of rock that we are looking for at Goldstar."

In addition, the current drill program has been expanded by an additional 40%, from 15 holes previously, to 21 holes in total, focusing on seven (7) high-priority target areas. Each target area will be drilled with three (3) holes of varying depth and orientation; 50 feet - 60 degrees, 100 feet - 90 degrees, and 240 feet - 90 degrees. Drilling is expected to continue seven days a week at approximately 100 feet/day. The wide diameter (3 inch) core samples recovered from Goldstar will be logged at a central location with select intersections prepared and sent for assay testing at an independent third-party laboratory.

Later this weekend, North Springs intends to publish video footage of actual diamond core drilling in progress at the Goldstar Property on the Company website. The first video in this series, showing final drilling pad setup and the distinct quartz veining/iron oxide discoloration, is currently available for public viewing at www.northspringsresources.com.

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. Previous exploration at the Goldstar Property assisted in the calculation of an estimated reserve of 500,000 tons with an average grade of 0.7oz gold per ton - which could yield approximately 350,000 ounces of gold.

Further updates regarding the Goldstar/One Arm Joe Gold Project and other North Springs business 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. 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.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. 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.

FINRA, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE.

Contact Information