Goldspike Commences Drilling Program at Lone Mountain Zinc Project

Goldspike Exploration Inc. (TSXV: GSE) (“Goldspike” or the “Company”) is pleased to report that it has commenced drilling operations on its Lone Mountain zinc property (the “Property”) in Eureka County,
Nevada.

Goldspike negotiated the assignment of up to a 100% interest in the Property in July of this year (see the Company’s press release dated July 23, 2014).

The Property is comprised of 217 claims and covers the location of a 2007 significant drill hole zinc discovery, where a single drill hole intersected several intervals of high grade zinc-lead mineralization including an interval at the bottom of
the hole assaying 41.3% zinc and 1.4% lead over 4.1 metres.

Based upon the historical information pertaining to the Property and the favourable results of its initial field work, the Company is carrying out additional geochemical surveys,
prospecting and geological mapping and has commenced a phase one drilling program on the Property. In this initial drill program the Company expects to drill approximately 10 holes totalling 1,500 metres (approximately 5,000 feet).

“Since acquiring the Lone Mountain zinc property we have been analyzing and collecting both historic data and new data from recent exploration programs. We are very encouraged by the results to-date. We now have enough information to start
drill testing the area in close proximity to the 2007 mineralization with a goal of expanding the footprint of the mineralization. Our geological evaluation of the Property is also identifying other areas of potential mineralization on the Property.
We are very pleased to have our first drill program at Lone Mountain underway,” commented Goldspike CEO Bruce Durham.

With regard to zinc Mr. Durham further commented: “We share the opinion of many researchers that zinc fundamentals are strong and strengthening and that real shortfalls in production due to significant mine closures will be seen in the
years ahead. Zinc is an advanced infrastructure metal whose consumption and usage are continuing to expand annually.”

Property Highlights: (see the Company’s press release dated June 24, 2014 for full details and maps)

  • High grade zinc and lead mineralized intervals were discovered in reverse circulation drill hole LM-07-01. The mineralization is reported to commence at 114.3 metres down hole and to continue to the bottom of the hole at 155.4 metres for an
    aggregate interval of 41.1 metres.

  • Within the above interval no sample material was recovered from one interval of 7.62 metres. This interval was bounded by high grade zinc lead mineralization. It is not known if this interval was mineralized. As a result of a lack of assays for this
    interval, composite assay values for the entire interval cannot be calculated.

  • The drill hole encountered lead values of up to 51.24% over 1.52 metres in the upper part of the mineralized interval.

  • The drill hole contained zinc values of up to 48.4% over 1.52 metres in the lower part of the mineralized interval.

  • Composite assay intervals in the discovery drill hole included an upper high grade interval grading 32.55% lead and 0.71% zinc over 6.08 metres and a high grade interval at the bottom of the hole grading 41.3% zinc and 1.4% lead over 4.2 metres.

  • The previous operator from 2006-7 carried out soil geochemical sampling only on wide spaced (500 metre centered) lines. Samples were collected at only 50 metre intervals on the lines. The samples were analyzed for a suite of elements and an
    evaluation of those results show the strong correlation of a suite of indicator elements with the location of the historic zinc mine workings and scattered surface trenches that contain zinc mineralization as well as the location of the high grade
    zinc lead mineralization in the discovery drill hole.

  • The suite of elements that correlate with the presence of zinc lead mineralization include: zinc, lead, silver, barium, mercury, cadmium, arsenic, copper and thallium. The overall trend of this suite of elements can be traced for more than 3
    kilometres in a direction sub-parallel to bedding in a general northwest to southeast direction.

  • The geochemical anomaly tested with the discovery hole was not the strongest part of the three kilometre long multi-element anomaly and no drilling tested the other targets on the extensive anomaly.

 

History of Work and Geology

Zinc mineralization was first reported to have been mined in the Lone Mountain area in 1942 and operations between 1942 and 1964 were reported to have produced nearly five million pounds of zinc, six hundred and fifty thousand pounds of lead and
four thousand ounces of silver. Mined mineralization has been reported to consist of smithsonite, zincite, hydrozincite, cerussite, malachite and azurite along with minor sulphides. At this time it does not appear there is any public record of any
significant history of modern exploration work on the Property for zinc lead mineralization. The discovery of the high grade zinc lead mineralization in drill hole LM-07-01 appears to be a largely fortuitous event that occurred in the course of
exploring the Property for precious metal mineralization. The Company is not aware of any mineralogical work having been completed on the mineralization in discovery hole LM-07-01.

Part of the Property that extends well to the southeast is reported to have prospectivity for gold. The Company will evaluate these prospects as work on the Property proceeds.

Work by the previous optionee completed in 2007 included re-evaluation of the gravity and magnetic data available on the Property. Their evaluation also included the geochemical surveying as described above as well as a CSAMT geophysical survey that
successfully identified a significant resistivity contact crossing much of the Property in a direction mostly parallel to the interpreted stratigraphic trends in the area. The
high grade zinc lead mineralization appears to sit very close to the interpreted resistivity contrast. This interpreted contact may prove to be an excellent marker in follow-up drilling programs.

The mineralization discovered in drill hole LM-07-01 has not been well studied and remains open to considerable interpretation at this point. The mineralization is thought to be located at or close to the contact of the Devils Gate Formation, an
Early to Middle Devonian dolomite in the Nevada Formation. Rocks in the area generally strike northwest-southeast and dip generally 55 degrees easterly. There is a suggestion by some workers that the mineralization may be located at the intersection
of northwest and generally northeast trending structures, however, the single hole in the high grade zinc lead discovery to-date precludes any conclusions at this time as to the orientation of the mineralization. The Company has not been able to
ascertain the details, if any, of any QA/QC programs that were in place at the time of the last work on the Property and therefore the Company advises readers that all technical data in this release must be assumed to be historical in nature and as
such should not be relied upon. Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and is the person responsible for the preparation of this news release.

For further information contact:

Goldspike Exploration Inc.
Suite 1500 – 4 King St. W. 
Toronto, Ontario M5H 1B6
Tel: 416-504-8821

Bruce Durham, President and CEO 
bdurham@goldspike.ca

www.goldspike.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Goldspike Expands Lone Mountain Zinc Project Through Property Acquisition

Toronto, Ontario, October 10, 2014 - Goldspike Exploration Inc. (“Goldspike” or the “Company”) (TSX-V: GSE) announces it has signed a lease with an option-to-purchase agreement with Bravada Gold Corporation (“Bravada”) to acquire a 100% interest in their South Lone Mountain property (the “Property”), located along the Battle Mountain-Eureka Gold trend in central Nevada. Goldspike controls the larger adjacent property position known as its Lone Mountain Zinc project.

This acquisition increases the Company’s land position at the Lone Mountain property to more than 4,000 acres.

The South Lone Mountain property of Bravada consists of 28 unpatented mineral claims. In total Goldspike now controls 217 claims at Lone Mountain near Eureka, Nevada.

The newly acquired claims cover the northwesterly extension of a strong zinc soil geochemical anomaly that extends for more than 1,000 metres from a high grade zinc and lead drill hole intersection on the Lone Mountain Zinc property held by Goldspike (press release June 28, 2014). Goldspike has completed initial work on its property and expects to begin drill testing the area of the 2007 high grade zinc intersection this month.

Bruce Durham, President and CEO of Goldspike commented, “We are very pleased to have secured the Bravada claims because they add significant potential to the Lone Mountain project. We now control all but one claim in the entire area and will move quickly to evaluate the area for zinc and precious metals”. 

Portions of the Property cover the northwesterly extension of a strong zinc soil geochemical anomaly that extends for more than 1,000 metres from a high grade zinc and lead drill hole intersection on the Company’s Lone Mountain Zinc property (Goldspike press release June 24, 2014).

The Agreement provides Goldspike with the option to earn a 100% interest in the Property by making staged, escalating lease payments totalling US$325,000 in cash over a period of up to 10 years, during which exploration and development on the Property may be conducted by the Company. In addition, Bravada will receive 50,000 Goldspike common shares upon receipt of TSX Venture Exchange approval and another 100,000 Goldspike common shares in the event a NI-43-101 combined resource estimate for the Company’s Lone Mountain Zinc property and the Property indicates that at least 10% of the reported tonnage is attributable to the Property. All lease payments can be applied to the final purchase price of US$325,000, after which advance minimum royalty payments become due annually in the amount of the cash equivalent of 50 ounces of gold.

Bravada and a previous owner of the Property have royalties on production from the Property.  Bravada holds a 1.5% NSR on base metals production and a 3% NSR on precious metals production.  Bravada’s base metal NSR can be reduced to 1.0% and its precious metals NSR can be reduced to 1.5% concurrently, not individually, by Goldspike for a total cash payment to Bravada of US $3,000,000.  The previous owner of the Property holds a 1% NSR on both base and precious metal production from the Property.  Goldspike can concurrently, not individually, buy down the royalty on both base and precious metals to 0.5% for total cash consideration of US $3,000,000.

Bravada President Joe Kizis commented, “The South Lone Mountain property is not a core asset for Bravada, however, we recognize the property’s potential to host significant Mississippi-Valley-Type (MVT) zinc/lead/silver, as well as Carlin-type gold. Goldspike’s control of adjacent MVT mineralization at the historic Lone Mountain Zinc mine makes them an ideal partner to further explore and develop the South Lone Mountain property.”

Bruce Durham P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and is the person responsible for the preparation of this release.

For further information contact:                              

Goldspike Exploration Inc. 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5X 1C9 
Tel: 416-504-8821

Bruce Durham, President and CEO
bdurham@goldspike.ca 

www.goldspike.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.

Goldspike Announces Closing of $500,000 Non-Brokered Private Placement and Option Grants

Toronto, Ontario, August 12, 2014 – Goldspike Exploration Inc. (TSX-V: GSE) (Goldspike”) is pleased to announce that further to its press release of July 9, 2014, it has completed a non-brokered private placement financing with Norvista Capital Corporation (“Norvista”) (TSX-V: NVV) for aggregate gross proceeds of $500,000 (the “Offering”). The Offering consisted of the sale of 3,333,333 common shares in the capital stock of Goldspike (the “Shares”) at a price of $0.15 per Share. Goldspike intends to use the net proceeds from the Offering to fund continued exploration on Goldspike’s assets and for general working capital purposes.

The Shares issued pursuant to the Offering will be subject to a four month and one day statutory hold period.

Option Grant

Goldspike is also pleased to announce the grant of a total of 1,400,000 stock options to its directors and a consultant pursuant to Goldspike’s incentive stock option plan. The stock options were granted effective today, exercisable at a price of $0.15 per Share and expire on August 12, 2019. The options vested immediately upon grant. 

For further information contact:

Goldspike Exploration Inc. 
4 King Street West, Suite 1500
Toronto, Ontario  M5H 1B6
Tel: (416) 504-8821

Bruce Durham, President and CEO
bdurham@goldspike.ca 

CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. 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, Goldspike’s objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Goldspike’s public documents filed on SEDAR. Although Goldspike 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. Goldspike 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.

Goldspike Announces Warrant Exercise

Toronto, Ontario, August 7, 2014 – Goldspike Exploration Inc. (TSX-V: GSE) (Goldspike”) is pleased to announce that 3,341,667 common share purchase warrants (the “Warrants”) have been exercised for proceeds of $501,250. The Warrants were part of a tranche originally issued on October 6, 2010 with an expiry date of August 3, 2013. In July, 2013, Goldspike applied to, and received approval from, the TSX Venture Exchange to amend the expiry date of the Warrants a further year to August 3, 2014.     

“The exercise of the Warrants demonstrates confidence in the Company and its mineral properties,” stated  Bruce Durham, President and CEO of Goldspike.   “The additional funds will
allow Goldspike to expand the scope of its 2014-15 work programs and complete a
substantial amount of exploration on the Company’s properties in Yukon and Nevada”.

For further information contact:

Goldspike Exploration Inc. 
4 King Street West, Suite 1500
Toronto, Ontario, M5H 1B6
Tel: (416) 504-8821

Bruce Durham, President and CEO
bdurham@goldspike.ca 

 

CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. 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, Goldspike’s objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Goldspike’s public documents filed on SEDAR. Although Goldspike 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. Goldspike 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.

Goldspike Receives Exchange Approval for Acquisition of Lone Mountain Zinc Property

Toronto, Ontario – July 23, 2014 – Goldspike Exploration Inc. (“Goldspike”) (TSX-V: GSE) is pleased to announce that, further to its press release dated June 24, 2014, it has received approval from the TSX Venture Exchange for the assignment (the “Assignment”) of the Lone Mountain Zinc Property comprised of 170 claims in Eureka County, Nevada (the “Transaction”) from Norvista Capital Corporation (“Norvista”). In connection with the Transaction and in consideration for the Assignment, Goldspike today issued 2,000,000 common shares of its capital stock (“Shares”) to Norvista at a deemed value of $0.15 per Share. The Shares are subject to a statutory four month and one day hold period expiring on November 24, 2014.

For further information contact:

4 King Street West, Suite 1500

Toronto, Ontario

M5H 1B6

Office: 416-504-8821

Bruce Durham, President and CEO

bdurham@goldspike.ca  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.