Gold Springs Resource Corp. Reports Q2 2025 Financials, Updates Operations

Gold Springs Resource Corp. reported Q2 2025 financial statements, with general and administrative expenses decreasing to $0.27 million compared to $0.31 million in Q2 2024. Exploration spending increased to $0.025 million, and the company reported a net loss of $0.30 million. The company is working on permits for a heap-leach processing pilot plant and a starter pit at the South Jumbo area in Utah.

Gold Springs Resource Corp. (TSX: GRC) (OTCQB: GRCAF) has released its unaudited consolidated financial statements for the three and six months ended June 30, 2025, along with the related management's discussion and analysis of financial position and results of operations (MD&A). The company reported a net loss of $0.30 million for the six months ended June 30, 2025, compared to a net loss of $0.34 million for the same period in 2024. This reduction was primarily attributed to a decrease in share-based payment expense and administrative costs.

General and administrative expenses, excluding non-cash share-based payments, decreased to $0.27 million for the six months ended June 30, 2025, compared to $0.31 million in the same period last year. During the three months ended June 30, 2025, these expenses decreased to $0.13 million, down from $0.16 million in the same period in 2024.

Exploration spending increased to $0.025 million for the six months ended June 30, 2025, up from $0.017 million in the same period in 2024. The company reported a net loss of $0.13 million for the three months ended June 30, 2025, compared to a net loss of $0.18 million in the same period in 2024.

As of June 30, 2025, Gold Springs Resource Corp. had cash of $0.02 million.

The company is pleased to announce that it has continued working with ADT Environmental & Mineral Consultants and Global Resource Engineering to apply for permits to build a heap-leach processing pilot plant on private land and a starter pit at the South Jumbo area in Utah. A resource estimate of 214,565 oz M&I Au has been identified in this area [1]. Additionally, the company engaged Gardiner Brothers Drilling Inc. to commence work on drilling a water well near the processing facility, which will have the capacity to supply water for a large-scale operation.

Gold Springs Resource Corp. is focused on the exploration and expansion of the gold and silver resources of its large Gold Springs project located on the border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western USA, one of the best mining jurisdictions in the world.

References:
[1] https://www.newsfilecorp.com/release/262116