Genesis Metals

GoldSpot Discoveries Corp. to Apply Machine Learning on Cerrado Gold Inc.'s Minera Don Nicolas Project

Toronto, Ontario--(Newsfile Corp. - September 16, 2020) -  GoldSpot Discoveries Corp. (TSXV: SPOT) (the "Company" or "GoldSpot") has been engaged by Cerrado Gold Inc. ("Cerrado") to apply machine learning and its proprietary data science expertise to identify new exploration targets on Cerrado's Minera Don Nicolas (MDN) project, located in Santa Cruz, Argentina. In its analysis, GoldSpot will work with Cerrado's technical team to integrate and analyze geological and remote sensing data available in the area. The process will explore the potential for gold mineralization within the MDN properties, to produce GoldSpot Smart Targets which fuse geoscience knowledge with data science insights.

"Minera Don Nicolas is in the mineral and data rich Deseado Massif, an area where GoldSpot is having significant success, particularly at Yamana Gold's Cerro Moro project. MDN has robust property-wide datasets and we look forward to supporting Cerrado's technical team and advancing exploration efforts. The project has significant potential with a land package of more than 273,000 hectares," stated Denis Laviolette, Executive Chairman and President of GoldSpot Discoveries.

Mark Brennan, CEO, Co-Chairman and Co-Founder of Cerrado, commented, "We are very pleased to be working with Goldspot to assist our in house exploration team with the significant task of prioritizing potential exploration targets over our 273,000 hectare land position." He continued, « our initial view that there is an abundance of opportunity for many additional deposits at MDN has only been confirmed since our acquisition. Goldspot's experience in the Deseado Massif and its technical processes will be of immeasurable assistance in uncovering priority targets. »

GoldSpot will use its geoscience and machine science expertise to clean, unify and analyze exploration data from Cerrado's Minera Don Nicolas mine and produce both two-dimensional and three-dimensional targets for exploration. GoldSpot is particularly excited to apply a number of its recently developed geophysical, geochemical and geological products, which are created through the reprocessing of existing historical data, e.g., satellite images and geophysics information, which in turn assist geology interpretations and mineralization models.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology services company in mineral exploration. GoldSpot is a leading team of expert scientists who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. In the race to make discoveries, GoldSpot produces Smart Targets and advanced geological modelling that saves times, reduces costs and provides accurate results.

About Cerrado Gold Inc.

Cerrado Gold Inc. is a privately owned Toronto-based growing precious metals mining and exploration company building a portfolio of assets in South America. The Company's 100% owned Minera Don Nicolas Project, located in Santa Cruz, Argentina, is a newly producing gold and silver mine with significant optimization, expansion, and exploration potential. The Company is also focused on advanced exploration at its 100% owned Monte do Carmo gold Project in Tocantins State, Brazil expanding on the high-grade mineral resource base through extensive drill program in 2020. Cerrado's executive team has a long history of success managing numerous mining projects from early stage exploration, through development and production in various South American countries.

For further information please contact:

Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cautionary Statement on Forward-Looking Information

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. These statements relate to future events or future performance. All statements other than statements of historical facts may be forward-looking statements or information. Generally, forward-looking information and statements may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "proposed", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the Company, including, among other things, assumptions and expectations with respect to capital and operating costs varying significantly from estimates, the Company's ability to retain key personnel, the preliminary nature of metallurgical test results and the successful operation of the Company's technologies, delays or failure to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in general economic conditions, equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, the impact of competitions, trends in the industry and changes in laws, rules and regulations. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties, including but not limited to, adverse economic, regulatory and/or legislative developments, delays with respect to the Company's plans and those risks and uncertainties set out in the Company's public documents filed on SEDAR, any of which could cause actual results to differ materially from those expressed or implied by the forward-looking information disclosed herein. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such forward-looking statements, which only apply as of the date of this news release, and no assurance can be given that such plans, intentions or expectations upon which they are placed will occur in the disclosed time frames or at all. Such information may prove to be incorrect and actual results may differ materially from those anticipated. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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