North Springs Resources Corp.
OTCBB : NSRS
PINKSHEETS : NSRS

North Springs Resources Corp.

February 06, 2012 09:00 ET

North Springs Resources Receives Initial Sampling Results from Imperial Property in Nevada

LAS VEGAS, NEVADA--(Marketwire - Feb. 6, 2012) - North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the "Company" or "North Springs") is pleased to announce that it has received initial sampling results from phase one exploration conducted at the Imperial Gold Silver Property, located about 13 miles south of South Peak, Nevada, in the Railroad Springs Mining District (the "Imperial Property"). Initial results include gold assays from underground workings and one geochemical target. Geochemical analysis was conducted by ALS Chemex, an independent third-party laboratory in Reno, Nevada. Additional test results for silver content are expected to be received later this week.

"Results of phase one sampling of the underground workings at the historic Imperial Mine site are back from the lab and the results are extremely positive - testing showed gold in every sample taken," stated Harry Lappa, President of North Springs. "These results help confirm historic data and are excellent in their own right, but only represent gold content. We anticipate similarly positive results for silver content later this week."

In the western portion of the Imperial Property, high-grade gold and silver vein targets were sampled at the old Imperial Mine workings to confirm historic results. Several samples were collected over 200 feet in the Upper Adit and over 460 feet in the Lower Adit. In the Upper Adit, five (5) samples were taken across the ceiling perpendicular to the exposed vein from 10 to 210 feet from the portal. Testing confirmed the presence of gold in all samples, ranging from 0.055 to 0.429 oz/ton. The results of the sampling of the Imperial Upper Adit are listed below.

Imperial Project Upper Adit Vein Sampling
Sample Distance From Sample Width True Width Gold Gold
Number Portal (feet) (feet) (feet) (oz/ton) (g/t)
IUU 10 10 6 6 0.059 2.02
IUU 65 65 5 5 0.378 12.95
IUU 93 93 4 4 0.127 4.34
IUU 128 128 5 5 0.429 14.70
IUU 210 210 6 6 0.055 1.88

In the Lower Adit, six (6) samples were taken from 50 to 510 feet from the portal. Testing confirmed the presence of gold in all samples, ranging from 0.028 to 0.558 oz/ton. The results of the sampling of the Imperial Lower Adit are listed below.

Imperial Project Lower Adit Vein Sampling
Sample Distance From Sample Width True Width Gold Gold
Number Portal (feet) (feet) (feet) (oz/ton) (g/t)
IUL 50 50 4 4 0.046 1.58
IUL 90 90 5 5 0.072 2.47
IUL 137 137 4 4 0.247 8.46
IUL 250 250 6 6 0.028 0.97
IUL 430 430 4 4 0.558 19.10
IUL 510 510 6 6 0.032 1.08

In addition, gold results from seventeen (17) surface samples taken from the Resource Target area have been received. Samples were taken of altered and silicified rocks to determine the extent of anomalous gold and associated elements and will be used to identify the extent of a possible drilling target(s). Sampling has identified an open-ended target over 800 feet long at surface. Thirteen (13) out of seventeen (17) samples returned anomalous gold values ranging from 0.11 to 0.62 g/t. The area is largely gravel covered and further exploration will require trenching and/or drilling to properly define the total extent of the surface gold anomaly along the observed and implied target zone. The gold results of the sampling at the Imperial Resource Target area are listed below.

Imperial Project Resource Target Surface
Sample Sample Sample Width Gold
Number Description (feet) (g/t)
IS 1 Gossanous silicified siltstone outcrop Grab 0.62
IS 2 Gossanous jasperoid outcrop 6 foot channel <0.05
IS 3 Gossanous jasperoid float Grab 0.29
IS 4 Gossanous jasperoid outcrop 6 foot channel 0.11
IS 5 Partly silicified limestone outcrop 4 foot channel 0.15
IS 6 Gossanous jasperoid float Grab 0.22
IS 7 Partly silicified bleached siltstone float Grab 0.11
IS 8 Gossanous jasperoid outcrop 3 foot channel 0.11
IS 9 Gossanous jasperoid subcrop Grab 0.22
IS 10 Partly silicified bleached siltstone subcrop Grab <0.05
IS 11 Partly silicified bleached siltstone subcrop Grab 0.11
IS 12 Gossanous jasperoid breccia subcrop Grab <0.05
IS 13 Partly silicified bleached siltstone subcrop Grab <0.05
IS 14 Gossanous jasperoid subcrop Grab 0.07
IS 15 Gossanous jasperoid subcrop Grab 0.40
IS 16 Gossanous jasperoid float Grab 0.11
IS 17 Jasperoid breccia outcrop 6 foot channel 0.51

Mr. Lappa continued, "Results from the Resource Target were similarly positive with over 75% of the samples returning anomalous gold values. But this only scratched the surface of the potential of this property at depth and along the open-ended 800 foot target area. I look forward to getting underground at this zone as soon as possible."

The Imperial Property consists of 24 unpatented mineral claims covering approximately 480 acres and includes the historic workings of the high-grade Imperial Mine. Previous exploration has identified four high-priority target areas at the Imperial Property; Imperial Fault Target, Jasperoid Breccia Target, IP Target, and Resource Target. The phase one exploration plan for the Imperial Property outlines a four month $250,000 exploration program that will include geochemical and environmental studies, followed by a reverse-circulation drilling program intended to test previously identified mineralized zones and potentially increase the 50,000 ounce gold resource estimate made by previous operators.

Further updates regarding the Imperial Gold/Silver Property and other North Springs 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. 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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