GoldSpot Discoveries Corp. to Apply Machine Learning on Tanzanian Greenstone Belt

Toronto, Ontario–(Newsfile Corp. – August 20, 2020) – GoldSpot Discoveries Corp. (TSXV: SPOT) (the “Company” or “GoldSpot“) has been engaged by Tembo Gold Corp. (TSXV: TEM) (“Tembo“) to apply machine learning and its proprietary expertise to identify new exploration targets on Tembo’s flagship project in the Sukumaland Greenstone Belt, located in Tanzania. In its analysis, GoldSpot will work with Tembo’s technical team to analyze all available geological and remote sensing data to explore the potential for gold mineralization local to the properties.

Denis Laviolette, Executive Chairman and President of GoldSpot, said:
“An AI-company is only as strong as its people, and GoldSpot has built an arsenal of the brightest minds to have ever bridged the gap between geoscience and data science. Due to our technological expertise and success cases, we have been inundated with engagement requests and have the luxury of picking the best explorers with the highest potential to work with. We are excited to bring our big data solution to Tanzania and the Sukumaland Greenstone Belt.”

David Scott, President and CEO of Tembo Gold, commented: “We are very pleased to have engaged the services of GoldSpot Discoveries to assist in our planned exploration activity on the prospective Tembo project. Having reviewed the work done to date, the strong multidisciplinary GoldSpot team endorsed the project and will for the next 18-24 months be reviewing, reinterpreting and processing our data in close cooperation with our team, with a view to generating new targets, prioritising these and those on which we have already conducted drilling. We are eagerly anticipating the commencement of this work.”

GoldSpot will help delineate drill-ready targets for orogenic gold mineralization, as well as identify prospective areas regionally. GoldSpot’s subject matter experts will homogenize, integrate, process and interpret exploration datasets such as mapped or logged lithology, geophysics, surface and downhole geochemistry, and structural data. These interpreted and derived products will be used as input layers to GoldSpot’s proprietary AI (machine learning) techniques, which will then be validated by our team of expert geoscientists, in collaboration with Tembo’s technical team.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology and investment company that leverages machine learning to reduce capital risk while working to increase efficiency and success rates in resource exploration and investment. GoldSpot Discoveries combines proprietary technology with traditional domain expertise, offering a front-to-back service solution to its partners, and in some cases, capital to kickstart exploration programs. GoldSpot’s solutions target big data problems, making full use of historically unutilized data to better comprehend resource property potential.

About Tembo Gold Corp.

Tembo Gold Crop (TSXV: TEM) is a Canadian publicly-listed mineral exploration company with a 100% interest in the Tembo Gold Project which is located adjacent to African Barrick’s 14Moz Bulyanhulu Gold Mine in the prolific Lake Victoria Greenstone belt in Tanzania. Tembo’s focus is the discovery and development of world-class gold projects in Africa. The Company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa.

The Company’s exploration strategy is to discover mineral resources as well as continue to look for additional opportunities that can bring value to the Company and shareholders.

For further information please contact:

Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: [email protected]

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. More particularly and without limitation, this news release contains forward-looking statements and information with respect to the Company’s objectives, goals or future plans, positioning in the market, exploration results and exploration plans, the ability to identify all available geological and sending data and enhance exploration opportunities for gold mineralization in connection with the Tembo project. 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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