Dear Prospecting Investor, Notes from Comstock Long Rangers

2008-06-01T12:32:00.001-07:00

RedChip.com has recognized the potential of GoldSpring, Inc. by giving it a feature talk spot during it's only lunch hour at it's brick and mortar conference in the opulent and historic Palace Hotel, San Francisco. The Palace Hotel at 2nd and Market Streets was built by a Comstock benefactor
in the late 1800s.

This winter GoldSpring, Inc. experienced a 5,900% increase in Price Per Share (PPS) in approx 145 Days.
It is still a penny stock, currently moving between 1.5 to 1.8 cents per share.
GSPG.OB recent share history
======================
0.0240 on 02-06-2008
0.0004 on 09-14-2007
======================
0.0236 difference in 2/3rds of a year

0.0240 / 0.0004 = 59x increase in approx 145 Days

Is in the process of completing its first 43-101 Precious Metal Reserve Report of Gold and Silver Ore within the ground for less than 5% of its claimage. The report is being collaborated with a third party assay service. When the 43-101 publishes, it is likely that the PPS of GSPG.OB will experience strong growth. Indications suggest that GoldSpring, Inc will report 100,000 to 200,000 ounces of gold in the Hartford Complex and 600,000 ounces of silver.

The historic Comstock, 1859 - 1890s, had high ratios of gold to silver,
http://comstockgold.blogspot.com/2008/05/bonanza-deposits-of-comstock-lode.html

Gold to Silver ratio of 1 to nearly 4 were experienced in the exploratory mining by GoldSpring several years ago in their Plum Mine, refer to the Investor Brochure.

The 1:6 ratio of Au to Ag potentially within the Hartford Complex is well within numerous historically proven mining programs in the Nevada Comstock. Only approx. 15% of the Comstock has been exploited during 1859-1890s...1920. Mining was stopped due to the limitations of Industrial Revolution Technology.

By simple deduction, 80% of the Comstock is yet to be explored. If you were to see the 3-D model, 10 ft wide x 6 ft high x 5 feet deep, in the Virginia City Museum representing 750 miles of underground mining, you would see only a skeleton in large volumes of undisturbed earth.

Standing outside in the landscape you see large distances between the entrances of mines and their large tailing slopes still there for over a century. Refer to the photos of the Comstock.

Modern Mining will start at the historic Comstock, Nevada on 40 acres of 6,000 acres held by GoldSpring, sometime this summer, soon after the publication of SEC form 43-101, the companies estimate of precious metal reserve (gold and silver) in the earth. There will also be a methodical mining plan based on core drill samples assayed by a third party. Refer to Press Releases for the assay firm.

High Tech has moved into all aspects of the modern world including mining. Modern mining has a host of advantages, efficiency and yield over the pioneers, the poor souls be blessed forever!

Yahoo posted a few months ago the following:

Bullish Fremont General Corporation (FMT)
***************************
Goldspring Inc. (GSPG.OB)
***************************
Sigma Designs Inc. (SIGM)
Bearish Wachovia Corp. (WB)
Metal Storm Ltd. (MTSX)
Micron Technology Inc. (MU)
Data provided by Collective Intellect, Inc.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=32059&tid=20330&mid=20330&tof=20&frt=2

GSPG Phase One Exploration Yielded
---------------
11,536 oz of gold Sep 2004 - Dec 2006
43,376 oz of silver in same range
---------------------
54,912 oz of PM from 340,000 tons of ore
(1/3 of a megaton in 2 years, 3 months) - (downtime)
= 0.1615 oz per ton Au & Ag
= 0.0339 OPT of GOLD
= 0.1276 OPT of SILVER
= 3.7640 Ratio of Silver to Gold (par with Historic Comstock 1)
That was a good motivation to Restructure from (1) open pit Plum Mine (Phase One) into a 25 year Master Plan to explore 250 claims over 6,000 acres (Phase Two).

There are trusted characters to talk with on the Yahoo Financial Board for GSPG.OB
+++++++++++ Long Rangers +++++++++++
Skull.Krusher_____SoftWareLaw_____Couch
SoyelPato_____PreciousMetalTrader___KarlBrodersen
*
Johanna1115_____NasaJeff_____Sponge_Bob
iigligig________c_sun_rise____Justa_Say_Mo
*
Einnystein______PullinJoints_____Scheqky
IngoldWeTrust1___Tx.Ranger_1
*
neundorff_____railykewl_____P.Jett
rmfrfm_______tsin47_______moorewdaniel
*
jimkilcoyne99_____sameer408____durrantler
robertalanham2002____________crown_613
*
pullinjoints_____thundersticks___bugsinteeth
snorkle_man_____pisc373_____pullinupgold

(the sequence is not a hierachy, we are all LONG shareholders together, each with distinct personalities.)

Photos of the Comstock, notice the large expanses between tailings. History and modern exploratory mining indicate a likelyhood that there are still substantial ore bodies where even average soil has .037 OPT gold in the Comstock. Modern Heap Leach Processing can extract those grains of gold at a cost below $300 per ounce of gold.

GSPG has Already Been Munching One Mountain
http://www.sec.gov/Archives/edgar/data/1120970/000114420408017490/v108173_ex99-1x10x1.jpg

Digging mountains is normal in the Comstock
http://www.westernmininghistory.com/2006/gallery/nevada/virginia-city/modern/towns/1/detail-722.php
http://mishalov.net/virginiacity602/pictures/vc602-125.html
http://mishalov.net/virginiacity602/pictures/vc602-145.html
http://mishalov.net/virginiacity602/pictures/vc602-59.html

Mishalov is a great photographer!
http://mishalov.net/virginiacity602/pictures/vc602-142.html
http://mishalov.net/virginiacity602/pictures/vc602-140.html
http://mishalov.net/virginiacity602/pictures/vc602-53.html
http://mishalov.net/virginiacity602/pictures/vc602-57.html

Still many unexplored areas
http://mishalov.net/virginiacity602/pictures/vc602-72.html
http://mishalov.net/virginiacity602/pictures/vc602-24.html

The town is small, a long strip on both sides of the state 2 lane black topand anywhere from 1 block on each side to ~10 blocks wide on the south and ~2-3 blocks on the north.
http://mishalov.net/virginiacity602/pictures/vc602-69.html
http://mishalov.net/virginiacity602/pictures/vc602-134.html

Mining next to town. It's wild to travel the perimeter for a few miles out - seeing stacks of dirt as isolated cones in a much larger chapparal unchanged, quiet, desolate.Maybe 60 stacks of dirt next a hole! Yet so much more landscape in the outer regions.
http://mishalov.net/virginiacity602/pictures/vc602-97.html
http://mishalov.net/virginiacity602/pictures/vc602-99.html
http://mishalov.net/virginiacity602/pictures/vc602-12.html
http://mishalov.net/virginiacity602/pictures/vc602-143.html
http://travel.webshots.com/photo/1080991845029466406ItARom

Mackay Silver King Mansion, Virginia City, Nevada
http://www.westernmininghistory.com/2006/gallery/nevada/virginia-city/modern/towns/25/detail-746.php
http://travel.webshots.com/photo/1081477281029466406keTXWk
http://mishalov.net/virginiacity602/pictures/vc602-112.html

Another main goal of Goldspring is to locate rich ore with Target Drilling.40 Core Samples have been drilled December 2007 to May 2008. 60 more core drills are on the agenda for the near future. Core drilling is in the business plan as an on-going operation during the twenty five (25) year explotation master plan.

Company Statements
Radio Interview with Goldspring President and CEO Robert Faber on February 27, 2008
http://www.uploadpedia.com/14OR3Z57CM04/InterviewofGoldspring-RobertFaber-Feb27-2008-mp3.html

Bullet Points in the Radio Message
"processing 1,000,000 tons of mineralized material on an annual basis"

"Silver is typically not used in profitability estimates in Comstock mining"

"Silver is a by product"

Typical Silver content in Comstock Lode District is 4 times more than Gold.
".01 ounces per ton…gold grade cutoff"

What is thee lowest concentrations of gold and silver that are actually
profitable?” - Interviewing Attorney.

CEO Robert Faber, “Based upon current gold prices, and specific Hartford Complex that where were are going to be mining in the summer - it would be at .01 ounces per ton…of gold. … Oh, silver would be higher (concentration). …When we talk of what’s economically feasible we talk in terms of what the gold grade cutoff is.”

On-Site Mill for High Grade Ore

GoldSpring has tied up 80% of Comstock.

"There is not a geo-political resistence to mining in Nevada"

- The Forum, a local Radio Show hosted by Attorney Michael Smith.
SEC 8-K Powerpoint Filing for Investors March 26, 2008

GSPG has 6,000 acres in the Comstock including 250 Claims http://www.sec.gov/Archives/edgar/data/1120970/000114420408017490/v108173_ex99-1.htm

Federal SEC Webpage for GSPG
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001120970&owner=include&count=40

Edgar-Online also has List of Filings all the way back to 3-09-2001
http://yahoo.brand.edgar-online.com/default.aspx?cik=1120970
http://biz.yahoo.com/prnews/080401/latu171.html?.v=22

4-1-2008 PR: "...gold assay grades exceeding 1.5 ounces per ton gold and 1.25 ounces per ton silver" At "Hole 2008-06 260'-265' "
http://yahoo.brand.edgar-online.com/default.aspx?cik=1120970

"Our goal is to locate bonanza mineralization on our Comstock Lode property." - Press Release Source: GoldSpring, Inc., "GoldSpring Moves Closer to 43-101 Reserve Report", Thursday April 10, 4:53 pm ET
http://www.goldspring.us/?act=pages&page_id=9

http://www.goldspring.us/

Many people are so focused on finding high OPT of gold that another issue is being overlooked - silver has history of profitability.
Consolation Prize: Google "Nevada Silver Kings"

The historical silver found in the Comstock is why Nevada has been called the Silver State since the Civil War era.

7 part History Channel videos of Comstock History are on YouTube.com
What happened when only 15% of Comstock was explored 1859-1920 by hand, pick, shovel, real horse power, then mechanical horsepower with steam engines
http://fr.youtube.com/watch?v=ggYFxNHUmn8&feature=RecentlyWatched&page=1&t=t&f=b

Still amazed at the will power of those pioneers, how many times greater is the power of modern mining?

Silver Report
http://www.cftc.gov/files/opa/press04/opasilverletter.pdf

Mining Maps
http://www.sec.gov/Archives/edgar/data/1120970/000114420408017490/v108173_ex99-1x9x1.jpg

http://www.sec.gov/Archives/edgar/data/1120970/000114420408017490/v108173_ex99-1x7x1.jpg

Photo of Leach Pond http://www.sec.gov/Archives/edgar/data/1120970/000114420408017490/v108173_ex99-1x3x1.jpg

10KSB 4-11-08 Annual Report 2007 Fiscal Year: 12/31 http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=5860938&companyid=84580&ppu=%252fdefault.aspx%253fcik%253d1120970

"Mr. Faber...He was denied NINTEY THOUSAND and STILL stayed around. He obviously must believe in this company...This was found in the 10K. Sleep comfortably at night with your GSPG shares." - MooreWDaniel http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_G/threadview?bn=32059&tid=19957&mid=19957

"Our family has owned mining stocks for decades and also own claims in various states." - SilverInvested
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_G/threadview?bn=32059&tid=20685&mid=20759

"I am IN..... Bashers or NOT!" - Do your Due Diligence before you decide - SilverInvested
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=32059&tid=20649&mid=20649&tof=-1&rt=2&frt=2&off=1

"Goldspring's stock is now dominated by shorters, but soon their game will be over, and they'll have to move on to another popular manipulative stock. Don't give into the dips they create, in due time this thing will advance up and up and up.".04XX after the 43-101, soon to be .10 - EmeritusVictorious
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_G/threadview?bn=32059&tid=20248&mid=20248

Anyone who does their DD and knows the facts about this company aren't dumping their shares. Some here are trading outside of their core positions, trying to make a few extra bucks on the swings, but for the most part I would bet that the real investors have done their research and are in for the long haul. I haven't sold a share since I bought my first one in late 2007 - Skully

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_G/threadview?bn=32059&tid=28661&mid=28694

FRONTPAGE of KITCO, GSPG,

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=32059&tid=18841&mid=18841&tof=-1&rt=2&frt=2&off=1

"Everybody that's done some DD knows where were at." Karl Brodersen
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_G/threadview?bn=32059&tid=18636&mid=18636

i'm glad i have a family. what kind of life to bashers have ? - CrayGuy454
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=32059&tid=19802&mid=19802&tof=301&frt=2

"You know it is really sad that this board and many others cannot be used solely for intelligent and rational discussions of the particular stock of interest- Tx.Ranger_1
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_G/threadview?bn=32059&tid=21108&mid=21108