GoldSpot Amends and Restates Annual Management Discussion and Analysis

Toronto, Ontario--(Newsfile Corp. - May 26, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) (the "Company" or "GoldSpot") reports that it has amended and restated its Management Discussion and Analysis ("MD&A") for the fiscal year ended December 31, 2020, at the request of staff of the Ontario Securities Commission in order to incorporate additional discussion regarding its increased consulting income during the fiscal year, including the nature of the increase and general terms and conditions of its consulting contracts. In addition, the Company has added further discussion regarding its net investment gains during the year describing the nature of its investments in junior mining companies and the material drivers of value with respect to such investments. The amended and restated MD&A is available on SEDAR at www.sedar.com.

About GoldSpot Discoveries Corp.

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

For further information please contact:

Binh Quach, CPA, CMA
CFO and Corporate Secretary
GoldSpot Discoveries Corp.
Tel: 647-404-1084
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 involve 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, potential drivers of value with respect to the Company's investments and the general terms of its consulting contracts. These statements concern historical financial reports and may not be indicative of future performance. Factors that could cause actual results to differ materially from such forward‐looking information include, but are not limited to, prevailing market conditions, availability of financing, results of exploration activities of investee companies and changes in project parameters as plans continue to be refined, as well as those risks set out in GoldSpot's public documents filed on SEDAR. Although GoldSpot 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. GoldSpot 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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