GoldSpot Discoveries Deploy New Inversion Process at Northstar Gold's Miller Gold Property

Toronto, Ontario--(Newsfile Corp. - January 11, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (the "Company" or "GoldSpot") is pleased to announce the deployment of its proprietary inversion process, MinusOne, on Northstar Gold Corp. Miller Gold project. This inversion along with machine learning work has aided Northstar to identify known lithologies (see Northstar press release).

"Geophysical data is one of the most utilized datasets in the exploration industry. It was a natural evolution for GoldSpot to develop its own inversion tool," remarked Denis Laviolette, Executive Chairman and President of GoldSpot Discoveries. "At GoldSpot, we believe geophysical data should be used differently to help generate targets, and inversion is an incredible way geophysical data can create value. Our MinusOne platform allows us to invert gravity and magnetic in a constrained and unconstrained way."

MinusOne, GoldSpot's inversion technology, will invert geophysical data using a deterministic and stochastic inversion methods. With this technology, GoldSpot's team also applies a stochastic clustering method to provide probabilistic framework that helps to analyze uncertainty. MinusOne is one of the latest inventions from GoldSpot's Research and Development team, who routinely bring cutting-edge computer science and mathematical methods to solve practical exploration problems.

Given its ability to help solve geological problems, GoldSpot anticipates the commercialization of MinusOne as a potential additional revenue stream.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology services company in mineral exploration. We are 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.

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 is not comprised of historical facts. Forward-looking information 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, uncertainty over the outcome of any litigious matters, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71753