GOLDSPRING MINING TERMS

GLOSSARY
"ASSAY" means to test ores or minerals by chemical or other methods for the purpose of determining the amount of valuable metals contained.
"BRECCIA" means rock consisting of fragments, more or less angular, in a matrix of finer-grained material or of cementing material.
"BONANZA" means a compact mass of very high-grade ore. Average Bonanza grades are 2.3 ounces of gold per ton and 43 ounces of silver per ton.
"CLAIM" means a mining title giving its holder the right to prospect, explore for and exploit minerals within a defined area.
"COMMON SHARES" means common shares without par value of GoldSpring, Inc.
"COMPANY" means the consolidated group consisting of GoldSpring, Inc. and its subsidiaries The Plum Mining Company, LLC, GoldSpring, LLC and Ecovat Copper Nevada, LLC.
"CORPORATE STOCK TRANSFER" means GoldSpring's registrar and transfer agent, Corporate Stock Transfer of Denver, Colorado.
"CORPORATION" means the consolidated group consisting of GoldSpring, Inc. and its subsidiaries The Plum Mining Company, LLC, GoldSpring, LLC and Ecovat Copper Nevada, LLC.
"CUT-OFF GRADE" means the grade below which mineralized material or ore will be considered waste.
"DEPOSIT" means an informal term for an accumulation of mineral ores.
"DIAMOND DRILL" means a rotary type of rock drill that cuts a core of rock and is recovered in long cylindrical sections, two centimeters or more in diameter.
"DORE" means unrefined gold and silver bullion consisting of approximately 90% precious metals, which will be further refined to almost pure metal.
"DUMPS" means depositories of unprocessed material rejected from prior mining operations.
"ECOVAT COPPER NEVADA" means Ecovat Copper Nevada, LLC, a wholly-owned subsidiary of GoldSpring, Inc.
"FAULT" means a fracture in rock along which there has been displacement of the two sides parallel to the fracture.
"GOLDSPRING" means GoldSpring, Inc.
"HEAP LEACH" means a gold extraction method that percolates a cyanide solution through ore heaped on an impervious pad or base.
"MINERALIZATION" means the concentration of metals within a body of rock.
"MINERALIZED MATERIAL" is a mineralized body which has been delineated by appropriately spaced drilling and/or underground sampling to support a sufficient tonnage and average grade of metal(s). Such a deposit does not qualify as a reserve, until a comprehensive evaluation based upon unit cost, grade, recoveries, and other material factors conclude legal and economic feasibility.
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"NET SMELTER RETURNS" means the actual financial proceeds received from any mint, smelter, refinery, or other purchaser, from the sale of bullion, dore, concentrates or finished products, less the cost of shipping, and all minting, smelter or refinery costs.
"ORE" means material containing minerals that can be economically extracted.
"OXIDE" means mineralized rock in which some of the original minerals have been oxidized (I.E., combined with oxygen). Oxidation tends to make the ore more porous and permits a more complete permeation of cyanide solutions so that minute particles of gold in the interior of the minerals will be more readily dissolved.
"PATENT" means Fee simple title (private land) obtained from a State or Federal government to land containing a valid mineral discovery.
"PLACER MINE" means the Gold Canyon and Spring Valley properties contained within the legal entity of Goldspring LLC.
"PLUM MINING" means The Plum Mining Company, LLC, a wholly-owned subsidiary of Goldspring, Inc.
"PROBABLE RESERVES" means reserves for which quantity and grade and/or quality are computed from information similar to that used for proven reserves, but the sites for inspection, sampling and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation.
"PROVEN RESERVES" means reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; grade and/or quality are computed from the results of detailed sampling and (b) the sites for inspection, sampling and measurement are spaced so closely and the geologic character is so well defined that size, shape, depth, and mineral content of reserves are well-established.
"RECOVERY" means that portion of the metal contained in the ore that is successfully extracted by processing, expressed as a percentage.
"RESERVES" or "ORE RESERVES" mean that part of a mineral deposit, which could be economically and legally extracted or produced at the time of the reserve determination.
"SAMPLING" means selecting a fractional, but representative, part of a mineral deposit for analysis.
"SEDIMENT" means solid material settled from suspension in a liquid.
"STOCKWORK" means a rock mass interpenetrated by small veins of mineralization.
"STRIKE", when used as a noun, means the direction, course or bearing of a vein or rock formation measured on a level surface and, when used as a verb, means to take such direction, course or bearing.
"STRIKE LENGTH" means the longest horizontal dimension of an ore body or zone of mineralization.
"STRIPPING RATIO" means the ratio of waste to ore in an open pit mine.
"SULPHIDE" (or "SULFIDE") means a compound of sulfur and some other element.
"TRENCHING" means prospecting in which subsurface strata are exposed by digging pits across the strike of a lode.
"VEIN" means a fissure, fault or crack in a rock filled by minerals that have traveled upwards from some deep source.
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"VOLCANICLASTIC" means derived by ejection of volcanic material from a volcanic vent.
"WASTE" means rock lacking sufficient grade and/or other characteristics of ore.