GoldSpot Discoveries Engaged by Fortuna Silver Mines to Identify Targets

Toronto, Ontario--(Newsfile Corp. - February 16, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) ("GoldSpot" or the "Company") is pleased to announce it has been engaged by Fortuna Silver Mines Inc. ("Fortuna") to create exploration prospectivity maps and 3-D targets for one of its mines.

GoldSpot will process, integrate, and interpret underground and exploration drilling data in the region, using its proprietary combination of geoscience, data analytics and artificial intelligence algorithms. The work program will include data QA/QC and compilation; geochemical interpretations; geophysical interpretations and inversions; 3D data treatment and modeling; and conventional and machine learning target generation. The objective of GoldSpot's engagement will be to assist with exploration targeting on both a local scale and a regional scale.

Vincent Dubé-Bourgeois, CEO of GoldSpot, stated, "GoldSpot's consultancy services arm continues to grow, as shown by its continued engagement by top-tier miners and explorers. Our revenue pipeline is growing, and commitments from companies like Fortuna Silver validate the need and value of our technology for exploration and mine target generation. These successes ensure we retain our place as the leader in this field."

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 to save time, reduce costs and provide accurate results.

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.

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