The Gold Springs project is located in Lincoln County, Nevada approximately 40 kilometers east of Pioche near the Nevada-Utah state line. It is situated in the historic Eagle Valley mining district, which produced around $400,000 in gold and silver from 1896 to the late 1930s. In the 1930s high grade silver ore was mined and shipped from the principal veins on Gold Summit’s existing block of 93 unpatented lode mining claims. Gold Springs is held under a lease-option agreement with Nevada Eagle Resources, LLC that provides for annual advance royalty payments toward a production royalty, which slides from 2.0-5.0% as gold prices range from $250-$500. Two north-easterly striking, west dipping fault zones host silicification, quartz veining and precious metal mineralization at Gold Springs. The western or “Tempa-Helen” vein structure averages 2-10 meters in width and has been traced for over 4000 meters along strike with a vertical distance of 250 meters exposed by topographic relief. At the Tempa mine, the vein exhibits massive, crystalline to banded quartz, quartz-after-bladed calcite with argentite and bladed calcite in a discrete shoot ranging from 1-3 meters in width on the hanging wall of a wider 5 meter silicified zone.

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Assays from samples of quartz-after-bladed calcite at the Tempa mine contain as much as 575 g/t silver and 4.0 g/t gold. Samples of the silicified structure report gold values of 0.01-0.05 ppm with silver values of 2.0-5.0 ppm. Silver was produced in the 1930’s at an average grade of about 20 ounces per ton at the Helen mine near the south-western end of the vein trend. Silicified breccias and bladed quartz-after-calcite shoots occur over a 500 meter strike length northeast of the Tempa shaft, with 5-400 g/t silver values and 0.1-5.4 g/t gold values. Silver to gold ratios in samples with gold values exceeding 0.5 g/t are generally 100:1. The highest exposures (in elevation) of the Tempa vein are dominated by linear zones of massive silicification with very minor brecciation and stockwork quartz veining containing anomalous gold and silver values (0.01 ppm Au, 5.09 ppm Ag), interpreted by Gold Summit as being high in the hydrothermal system.

The eastern or “Miramonte” structural zone is located 650 meters east of the Tempa vein zone and has been traced for 1200 meters as a series of outcroppings, prospect pits and two underground workings. The Miramonte structure is expressed at surface as linear zones of silicification, locally with some stockwork quartz veining. This zone has only been explored by Gold Summit in part, but limited first pass rock sampling demonstrates that this zone is similar geochemically to the upper levels of the Tempa zone. Those portions of the zone found at the lowest elevations, and previously explored by shallow underground workings, contain discrete quartz–adularia veins in altered latites. Rock sampling in 2005 by Gold Summit at one of these old workings, the President’s Pit, included chip sampling of a 1.3 meter quartz-adularia vein that averages 33.49 g/t gold and 87 g/t silver, including individual assays of 41.6 and 52.8 g/t gold.

Gold Summit plans to continue surface exploration of the known vein structures in 2008 with additional geologic mapping and rock sampling in preparation for a drill program to test for extensions of known high grade mineralization at depth and along strike from the Tempa and Miramonte workings using a core drill. This drilling program is already in the planning stage, but implementation is dependent on overall corporate priorities for funds and staff.