GoldSpot Discoveries Graduates to the OTCQX Best Market in U.S. Under New OTC Ticker Symbol "SPOFF" and Applies for DTC Eligibility

Toronto, Ontario--(Newsfile Corp. - May 12, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) ("GoldSpot" or the "Company") is pleased to announce that its common shares are now trading on the OTCQX Best Market, a U.S. market operated by OTC Markets Group in New York, under the new ticker symbol "SPOFF". GoldSpot's common shares will continue to trade on the TSX Venture Exchange under the symbol "SPOT".

"We are pleased to meet the criteria for upgrading from the Pink market to trading on the OTCQX Best Market," said Denis Laviolette, Executive Chairman and President of GoldSpot. "Given our ongoing growth and heightened awareness of GoldSpot's advanced solutions, this is an excellent opportunity to reach a wider investor base and represents an important milestone for the Company as we build investor awareness in the U.S. and international markets."

The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade "SPOFF". The OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies, helping companies with U.S. investors build shareholder value through greater access to enhanced liquidity and data distribution. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

GoldSpot is also in the process of securing Depository Trust Company ("DTC") eligibility for its common shares. DTC manages electronic clearing and settlement of publicly traded companies across the United States and in 131 other countries. Trading through DTC allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process of daily trades.

U.S. investors can find current financial disclosure and real-time Level 2 quotes for the Company on the OTC website (www.otcmarkets.com/stock/SPOFF/overview).

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) 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.

For further information please contact:

Denis LavioletteExecutive Chairman and PresidentGoldSpot Discoveries Corp.Tel: 647-992-9837Email: investors@goldspot.ca

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 information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in 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, and those risks set out in the Company's public documents filed on SEDAR. 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 information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83649

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