GOLD HILL, Nev., Dec. 16 /PRNewswire-FirstCall/ --GoldSpring, Inc. (OTC Bulletin Board: GSPG) announced today the recent assay results from five drill holes (See table below), which continue to indicate strong gold and silver mineralization at the Company's Hartford Complex project. The new drill holes expand the Company's known resource in the northeast, northwest, east and south areas of the Hartford Complex, and indicate significant levels of silver. The Company currently has four drills in operation; three of the drills are being deployed to develop the drill-indicated deposit, and the fourth drill is being used to expand exploration.

Commenting on the recent results, GoldSpring's Chief Executive Officer Rob Faber said, "The positive results indicate that there may be opportunities beyond the current pit outline, suggesting that we may consider expanding our drilling campaign. While we have not discussed the importance of silver in the past, silver production may have a significant impact on our project due to the potential expanded revenue streams. Our team has spent a great deal of time analyzing the results of the drill campaign and the geology of the area, and we are excited about the possibilities for this project."

Since the beginning of this drilling program in November 2007, the Company has completed over 100 drill holes and has reported assay results from 71 holes. The drilling campaign has proven successful, with nearly all the assay results showing gold and silver mineralization. The Company's metallurgic testing, which began in early 2008, is ongoing, and the results are being used to design changes to the processing plant to increase recovery.

The drilling is highlighted by a twenty foot interval (85'-105') grading 0.118 ounces per ton gold and a fifteen foot interval (160'-175') grading 0.315 ounces per ton gold. Further highlights from the drilling include a forty foot interval (60'-100') grading 1.52 ounces per ton silver, a fifty foot interval (135'-185') grading 1.67 ounces per ton silver, and a thirty foot interval (210'-240') grading 1.75 ounces per ton silver.

About GoldSpring, Inc.

GoldSpring, Inc. is a North American precious metals mining company, focused in Nevada, with extensive, contiguous property in the Comstock Lode District. Our Company was formed in mid-2003, and we acquired two properties in the Comstock Lode before the end of the year. We secured permits, built an infrastructure and brought the exploration project into test mining production within a year of its acquisition. The Company, in 2005, began consolidating the Comstock Lode by acquiring additional properties in the district, expanding our footprint and creating opportunities for exploration and mining. We are an emerging company, looking to build on our success through the acquisition of other mineral properties in the Comstock Lode District with reserves or exploration potential. The Company's objectives are to increase reserves through exploration, expand its footprint in the Comstock, resume mining, optimize its production, and maximize shareholder value.

Cautionary Note to U.S. Investors: The United States Securities and with Exchange Commission permits US mining companies, in their filings the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms on this press release, such as "measured", "indicated", and "inferred" resources, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml

The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by GoldSpring) contains statements that are 'forward-looking,' as defined in Section 21E of the Securities Exchange Act, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, mining capability and potential contracts. Such forward-looking information involves important risks and uncertainties, which include the risk factors disclosed in our most recent filings with the U.S. Securities and Exchange Commission, that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of GoldSpring. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors. These and other factors, which could cause actual results to differ materially, are discussed in more detail in GoldSpring's filings with the Securities and Exchange Commission. 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 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'should,' 'will,' and 'would' 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.