Goldspring - nichts für mich, aber für 2004 !

In addition, at today's Board of Directors Meeting, it was resolved that permitting for mining be initiated for the Lucerne Pit, located directly below the Billie The Kid in order for the ore to be mixed during operations. All processing will be done under Plum Mining's existing permitted cyanide heap leach facility located approximately 1.6 miles from Billie The Kid and Lucerne open pits. Vat or tank leaching permits have been authorized by the Board to be added to this facility. The Lucerne ore is typically higher grade than average Billie The Kid ore and when operated by BMR Resources produced a heap grade 20% in excess of drilled mine grade ore. Early results on Billie The Kid are exceeding the Lucerne experience, which is very good for GoldSpring. Lucerne production should commence in the 3rd quarter of '04 and will allow daily mine production to double again. While leach characteristics of both ores are similar, Billie The Kid ore tends toward acidity while Lucerne ore tends toward alkalinity. By mixing on the heap, reclamation costs will be reduced because the ores themselves tend to neutralize each other, saving a step that would otherwise have to be done for each ore.

It was also resolved to initiate hauling and operating permit applications on the Consolidated Virginia Mining Company dumps located in Virginia that the Company has under Letter of Intent. See November 6th Press Release for details. The dump material, subject to favorable column and bottle roll tests will also be processed at the Plum Mine permitted facility.

The Plum Mining Project is fully operational in winter weather conditions and due to mud, snow and intense operational activity is not open for casual visits. Any shareholders who would like to visit the Plum facility should contact Scott Jolcover, Manager at 775-847-5272, sjolcover@aol.com to inquire when scheduled tours will be held and to request notification of same.

Further information on operations, acquisitions and financings pending will be provided as available.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.



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leo