GoldSpring Releases Assay Results for 9 Additional Drill Holes

GoldSpring Updates Status of Reserve/Resource Report

GOLD HILL, Nev., Sept. 2 /PRNewswire-FirstCall/ -- GoldSpring, Inc.
(OTC Bulletin Board: GSPG) announced today that it has released assay
information for nine additional drill holes in the Hartford Complex (See table
below). The positive assay results from these nine drill holes continue to
expand the depth and surface area of the known mineral resource in the
Hartford Complex of the Comstock Lode. The Company's drilling program is
on-going. A second drill arrived on site on August 26, 2008. The Company has
commenced the drilling of an additional 135 development drill holes in the
Hartford Complex with the objective of providing drill hole data for detailed
mine planning.
In addition, the Company has provided an update on its forthcoming 43-101
resource report. In preparation for GoldSpring's release of the report,
Telesto Engineering of Reno, GoldSpring's engineering contractor, is updating
the geologic resource report. The preliminary report, which was released in
June 2008, was based on the existing data plus GoldSpring's 38 drill holes and
indicated a resource of 4,926,000 tons grading 0.080 ounces per ton gold
containing 392,000 ounces at a cutoff grade of 0.030 ounces per ton. The
Telesto 43-101 resource report will include an additional 19 holes as a result
of increased exploration activity, and will be based on GoldSpring's 57 drill
holes plus numerous historic drill holes largely drilled in the 1990's. The
remaining geologic and assay data has been forwarded to the engineer, and
GoldSpring anticipates receiving the report this month. The final nine holes
added in the Telesto estimate are summarized in the table below.

Drill Hole I.D. Intercept Gold Grade Silver Grade
in Feet (ounces per (ounces per
ton Gold) ton Silver)

49 0'-50' 0.018 0.73
165'-290' 0.025 0.15
310'-355' 0.119 0.37
50 0'-50' 0.128 0.43
155'-275' 0.068 0.83
Bottom in
ore @ 275'
51 55'-120' 0.041 0.23
175'-295' 0.024 0.46
52 70'-90' 0.046 0.16
120'-170' 0.120 0.52
190'-255' 0.022 0.35
290'-325' 0.015 1.13
53 0'-25' 0.018 0.69
225'-260' 0.033 0.13
54 315'-355' 0.043 0.93
450'-470' 0.033 0.08
505'-520' 0.048 0.23
635'-675' 0.022 0.09
55 345'-355' 0.104 0.17
385'-410' 0.016 0.05
450'-605' 0.026 0.02
56 435'-445' 0.191 0.10
750'-765' 0.070 0.04
57 90'-105' 0.018 0.43
135'-155' 0.023 0.06
270'-425' 0.017 0.18

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
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.
Contact information for GoldSpring, Inc.:
P.O. Box 1118
Virginia City, NV 89440
Tel 775.847.5272
Fax 775.847.4762
http://www.goldspring.us

Robert T. Faber, President and CEO
480.603.5151
775.847.5272
E-mail: rfaber@goldspring.us

or

Dan Schustack, CEOcast, Inc. for GoldSpring, Inc. at (212) 732-4300

SOURCE GoldSpring, Inc.

GoldSpring, Inc., +1-775-847-5272, Fax +1-775-847-4762, or Robert T. Faber,
President and CEO of GoldSpring, Inc., +1-480-603-5151, +1-775-847-5272,
rfaber@goldspring.us; or Dan Schustack of CEOcast, Inc., +1-212-732-4300, for
GoldSpring, Inc.