October 7, 2020

Toronto, Ontario–(Newsfile Corp. – October 7, 2020) – GoldSpot Discoveries Corp. (TSXV: SPOT) (“GoldSpot” or the “Company”) is pleased to announce it has been engaged by Metallic Minerals Corp (TSXV: MMG) (“Metallic”) to apply its proprietary machine learning technology and geoscience expertise on Metallic’s flagship Keno Silver project, located in Canada’s Yukon Territory. GoldSpot will work closely with Metallic’s technical team to analyze geological, geochemical, and geophysical data covering the company’s advanced and early stage targets in the high-grade Keno Hill Silver District.

GoldSpot is working with some of the leading exploration and mining names in the industry to apply cutting edge artificial intelligence (“AI”) algorithms to significantly increase the efficiency and success rate of mineral exploration. Recent successes by GoldSpot with both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology.

Denis Laviolette, Executive Chairman and President of GoldSpot, stated: “We are extremely pleased to be engaged again by the Metallic Group. Our teams have meshed very well in the ongoing collaboration with Group Ten Metals where our work is already delivering value to an exciting PGM and battery metals project. We look forward to continuing to build our relationship with Metallic Minerals and achieving exploration successes with them. We are excited to be working on a silver-focused project in a data-rich historic mining district that is a perfect fit for our cutting-edge technologies. We can’t wait to get started.”

Greg Johnson, Chairman and CEO of Metallic Minerals, commented: “We look forward to working with the Goldspot team on a second Metallic Group company. Goldspot’s innovative AI techniques are particularly relevant to our Keno Silver project, as we have numerous target areas across a 35-kilometer-wide district with a substantial exploration database. Their work, in tandem with our technical team’s extensive knowledge of the Keno Hill silver district and similar high-grade silver districts globally, should add to our ability to quickly and cost-effectively refine and prioritize existing exploration targets while driving new high-grade silver discoveries in less explored areas of this prolific and famously metal-rich mining region.”

Mr. Johnson continued, “Our 2020 exploration program continues at the Keno Silver project, where a second drill has been added to the program that is currently core drilling at advanced targets in the West Keno area. This year’s programs have been designed to expand areas of known silver mineralization in the advanced target areas, as well as to test a number of exciting new multi-kilometer-scale targets on the eastern part of the Keno Hill silver district, which have never been previously drilled. We look forward to providing more comprehensive updates and further information as we receive results from our on-going programs and begin our work with GoldSpot.”

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology services company in mineral exploration. GoldSpot is a leading team of expert scientists who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. In the race to make discoveries, GoldSpot produces Smart Targets and advanced geological modelling that saves times, reduces costs and provides accurate results.

About Metallic Minerals Corp

Metallic Minerals is a growth-stage exploration company, focused on high-grade silver and gold in underexplored brownfield mining districts. The company’s objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

For further information please contact:

Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: denis@goldspot.ca

Cautionary Statement on Forward -Looking Information

Neither the TSX Venture Exchange (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.