GoldSpot Discoveries Engaged by Western Exploration Inc. for the Aura Project in Nevada

Toronto, Ontario–(Newsfile Corp. – January 31, 2022) – GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) (“GoldSpot” or the “Company”), a leading technology company leveraging artificial intelligence and data science to transform the mineral discovery process, is pleased to announce it has been engaged by Western Exploration Inc. (TSXV: WEX) (“Western Exploration”) to apply its proprietary machine learning and geoscience expertise at the Aura Project, located in Northern Elko County, Nevada.

Western Exploration is the 100% owner of the ~6,000 hectare Aura Project located 32km north of the Jerritt Canyon mine in Nevada. The Aura project consists of 3 separate deposits including: Doby George, Gravel Creek and Wood Gulch.

GoldSpot has been engaged by Western Exploration to utilize all historic drill data to further refine the Aura model and to establish and assist in defining additional exploration targets. Western Exploration is committed to applying all available exploration tools and techniques to assist the exploration team in testing the full extent of exploration opportunities on the Aura Project.

Western Exploration’s CEO, Darcy Marud commented, “Mineral exploration is a challenging endeavour and at Western we look for every advantage to make our exploration efforts successful. GoldSpot has a proven track record of positively impacting exploration efforts for numerous companies and projects and we are grateful for the opportunity to work with them at the Aura project.”

“We are excited to see Western’s advanced understanding of geology and mineralization controls at Aura. We believe that our leading technology, combined with the work done to date will open up new opportunities for exploration and ultimate resource definition and expansion,” said Denis Laviolette, Executive Chairman and President of GoldSpot.

The Company has issued an aggregate of 1,240,000 Stock Options effective January 31, 2022 to certain service providers, each exercisable to acquire one common share of the Company at an exercise price of $0.73 until January 31, 2027. The Stock Options vest 1/3 immediately, 1/3 on the second anniversary date, and 1/3 on the third anniversary date. Of the total, an officer and director was granted 300,000 Stock Options. The Stock Options have been granted in accordance with the Company’s stock option plan.

About Western Exploration

Western Exploration Inc. is Nevada-focused precious metals exploration company, aiming to be a premier gold and silver development company in North America. The company was born out of a 25-year history of advancing exploration projects in Nevada as a private company. Its principal asset is the Aura gold-silver project located in Elko County, Nevada approximately 120 kilometers north of the city of Elko, Nevada.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientists merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.

For further information please contact:

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

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