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<SEC-DOCUMENT>0000950153-05-001668.txt : 20050721
<SEC-HEADER>0000950153-05-001668.hdr.sgml : 20050721
<ACCEPTANCE-DATETIME>20050720195819
ACCESSION NUMBER:		0000950153-05-001668
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050715
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050721
DATE AS OF CHANGE:		20050720

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLDSPRING INC
		CENTRAL INDEX KEY:			0001120970
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				650955118
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-32429
		FILM NUMBER:		05964792

	BUSINESS ADDRESS:	
		STREET 1:		8585 E. HARTFORD DRIVE
		STREET 2:		SUITE 400
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85255
		BUSINESS PHONE:		480-505-4040

	MAIL ADDRESS:	
		STREET 1:		8585 E. HARTFORD DRIVE
		STREET 2:		SUITE 400
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85255

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDSPRING
		DATE OF NAME CHANGE:	20030821

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STARTCALL COM INC
		DATE OF NAME CHANGE:	20010305
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>p70941e8vk.htm
<DESCRIPTION>8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(D) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>


<P align="center" style="font-size: 10pt">Date of Report (Date of earliest event reported): July&nbsp;15, 2005



<P align="center" style="font-size: 10pt"><B>GOLDSPRING, INC.</B>


<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Exact Name of Registrant as Specified in its Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Florida</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-32429</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>65-0955118</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other<BR>
Jurisdiction of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">8585 East Hartford Drive, Suite&nbsp;400, Scottsdale, Arizona 85255


<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Address of principal executive offices) (Zip Code)</DIV>



<P align="center" style="font-size: 10pt">Registrant&#146;s Telephone Number, Including Area Code: (480)&nbsp;505-4040


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (<I>see </I>General Instruction
A.2. below):



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR valign="top">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR valign="top">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">Soliciting material pursuant to Rule&nbsp;14a- 12 under the Exchange Act (17 CFR 240.14a- 12)</TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR valign="top">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR valign="top">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01. Entry into a Material Definitive Agreement.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="p70941exv99w1.htm">EX-99.1</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;1.01. Entry into a Material Definitive Agreement." -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;15, 2005, the Company completed a financing transaction, which has provided the
Company with $800,000 in funding. In consideration for the financing, the Company has issued
promissory notes at an original issue discount of thirty-three and one-third (33.3%) percent. The
term of the notes is two years, with an optional extension of one year at the option of the
investor. The annual interest rate on the notes is 15% of the face value and is payable monthly.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;20, 2005, the Company issued a press release announcing the terms of the financing
transaction. A copy of this press release is filed herewith as Exhibit&nbsp;99.1 and is hereby
incorporated by reference in this Item&nbsp;3.02.

<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Financial Statements of Business Acquired.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not applicable.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pro Forma Financial Information.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not applicable.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibits.</TD>
</TR>

</TABLE>

<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="94%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Press release from GoldSpring, Inc. dated July&nbsp;20, 2005
titled &#147;GoldSpring, Inc. Closes Financing Transaction.&#148;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">2
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">Date: July&nbsp;20, 2005</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>GOLDSPRING, INC.</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Robert T. Faber</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Robert T. Faber</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and Chief Executive Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release from GoldSpring, Inc. dated July&nbsp;20, 2005 titled &#147;GoldSpring, Inc. Closes
Financing Transaction.&#148;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">4
</DIV>


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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>p70941exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt"><B>Exhibit 99.1</B>

<P align="center" style="font-size: 16pt">NEWS RELEASE



<P align="center" style="font-size: 14pt">July&nbsp;20, 2005

<P align="left" style="font-size: 14pt">GoldSpring, Inc. Completes Financing Transaction; Operations Update; New Address for Corporate
Office


<P align="left" style="font-size: 10pt"><B>Scottsdale, AZ: July&nbsp;20, 2005 </B>- GoldSpring, Inc. (OTCBB: GSPG) announced that it has secured
$800,000 in funding. The terms of the financing are disclosed in an 8-K filing made by the
Company. The participants in the financing transaction were existing investors in the Company.
The funds will be used for working capital and general corporate purposes. Robert Faber, President
and CEO, said, &#147;This round of financing should allow the Company to bridge the gap to reaching
positive cash flow, which we forecast to occur in the third quarter of 2005.&#148;


<P align="left" style="font-size: 10pt">As GoldSpring enters the third quarter, the Company continues to focus on its existing operation at
the Plum Mine in northern Nevada. In the spirit of maximizing overall operating performance and
reducing costs, effective August&nbsp;1, 2005, the Company will consolidate its corporate office with
the Plum Mine facility. Commenting on the relocation, Robert Faber stated, &#147;Our relocation to the
Plum facility will reduce costs, improving both our financial performance and cash flow through
more effective utilization of our resources, both human and capital. This is consistent with our
goal to improve our mining operations and financial performance for the benefit of our
shareholders. Our commitment continues to be maximization of our performance and maximizing value
for the benefit of our shareholders.&#148; The new contact information for the corporate office and
personnel is listed below.


<P align="left" style="font-size: 10pt">The Plum Mine operation showed material improvements in efficiency and production in the second
quarter of 2005. The crusher, which has been the primary source of setbacks in increasing
production, received substantial mechanical improvements early in the quarter. Due to these
improvements, the operation crushed 144,000 tons of mineralized material in the second quarter,
representing an increase of 141% from the first quarter 2005. The Company is in the final planning
stages of taking over the crushing operations. This transition away from a third-party crushing
operator will bring immediate cost savings and should allow the operation to reach its target of
crushing 60,000 tons of material per month. The operation also made significant improvements to
the Merrill Crowe processing plant during the second quarter. Through a change in pumps and the
addition of a second clarifier, the operation increased capacity at the plant from 100 gallons per
minute to over 250 gallons per minute and is now operating 24 hours per day, 7&nbsp;days per week. A
larger pump is scheduled to be installed during July, further increasing though-put into the plant
to around 300 gallons per minute and further accelerating gold production. Faber stated &#147;The
Company will continue to focus on efficiencies that should improve operations.&#148;


<P align="left" style="font-size: 10pt">The improvements at the Plum Mine have resulted in a steady increase in gold production during the
second quarter. The Company produced 353 ounces of gold in April, 527 ounces in May, 1,126 ounces
in June, and is ramping up to its target production of 2,000 ounces of gold per month. The
Company&#146;s objective is to achieve cash-flow breakeven in July&nbsp;2005 and positive cash-flow in August
of 2005. Entering the third quarter, the primary focus of the Company continues to be on improving
its overall mine operation and its financial performance. The Company continues to look for growth
opportunities.



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">Furthermore, Robert Faber, President and CEO, has disclosed that he has established a Section
10(b)-5 Share Purchase Plan. Effective August&nbsp;31, 2005, Mr.&nbsp;Faber will commit a pre-determined
monthly sum to purchasing the Company&#146;s shares.


<P align="left" style="font-size: 10pt"><B>GoldSpring </B>is a North American natural resource company whose objective is to achieve growth and
profitability through enhancements at our active gold and silver-producing mine near Reno, Nevada
and through the acquisition of additional mining projects in the region that can be efficiently put
into near-term operation and production. We currently own mineral properties and conduct our
primary mining operations in Storey County, Nevada, located about 30 miles southeast of Reno,
Nevada. This operation consists of the Plum Mining facility. We also own mineral permits in
Alberta, Canada.


<P align="left" style="font-size: 10pt">Note to Investors


<P align="left" style="font-size: 10pt">This press release contains certain forward-looking statements based on our current expectations,
forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this
release are based on information available to us as of the date hereof. Our actual results may
differ materially from those stated or implied in such forward-looking statements, due to risks and
uncertainties associated with our business, which include the risk factors disclosed in our most
recent Form 10-KSB filed on April&nbsp;15, 2005. Forward-looking statements include statements regarding
our expectations, beliefs, intentions or strategies regarding the future and can be identified by
forward-looking words such as &#096;&#096;anticipate,&#146;&#146; &#096;&#096;believe,&#146;&#146; &#096;&#096;could,&#146;&#146; &#096;&#096;estimate,&#146;&#146; &#096;&#096;expect,&#146;&#146;
&#096;&#096;intend,&#146;&#146; &#096;&#096;may,&#146;&#146; &#096;&#096;should,&#146;&#146; &#096;&#096;will,&#146;&#146; and &#096;&#096;would&#146;&#146; or similar words. We assume no obligation
to update the information included in this press release, whether as a result of new information,
future events or otherwise.


<P align="left" style="font-size: 10pt">The new contact information for the corporate office, effective July&nbsp;25, 2005, is:



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;P.O. Box 1118<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virginia City, NV 89440<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tel 775.847.5272<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fax 775.847.4762<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;www.goldspring.us

<P align="left" style="font-size: 10pt">Additional Contact Information:



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lisa Boksenbaum, Corporate and Investor Relations<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(480)&nbsp;203-0510<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E-mail: lisab@goldspring.us


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert Faber, President and CEO<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(480)&nbsp;603-5151<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E-mail: rfaber@goldspring.us



<P align="center" style="font-size: 10pt">&nbsp;
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