The Gold Report

Sandspring Resources Ltd. TICKER: SSP:TSX.V Visit Company Website Sandspring Resources Ltd., a new public company representing 10 years of private operational experience in Guyana, is now a wholly owned subsidiary of Sandspring. It has historically employed surface alluvial and saprolite mining. The future is based discovering a large, open-pittable gold/copper resource of 3.3 Moz. Au Eq. in the alluvial trend. Sandspring is a 3,000-tpd permitted, medium-scale miner, which has initiated a permit application for a large-scale bedrock-mining permit and is road accessible.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Jamie Spratt, Clarus Securities (1/31/12) "Sandspring Resources Ltd. announced the results of its revised preliminary economic assessment at its 10 Moz Toroparu project in Guyana. Mineable ounces have increased 15% to 5 Moz over a 21-year mine life and initial capex for the project has declined from $637M to $480M. . .we maintain a Speculative Buy rating."

Lawrence Roulston, Resource Opportunities (1/31/12) "Sandspring Resources Ltd. completed an updated resource estimate and an updated preliminary economic assessment (PEA) for its Toroparu gold-copper deposit in Guyana. The studies continue to confirm that Toroparu is a large and very attractive deposit with favorable economics and further upside potential. . .allowing for the potential upsides and further project optimization along with a higher gold price than used in the PEA, the company is very undervalued. Further news from the project and growing investor awareness should see the share price move closer to alignment with the project valuation."

Lawrence Roulston, Resource Opportunities (12/21/11) "Sandspring Resources Ltd. reported further drill results from its Toroparu gold-copper project in Guyana. Those results continue to support the premise that the deposit hosts a substantial zone with grades well beyond the average for the overall resource. The highlight of the recent drilling was 127m at 1.83 g/t gold plus 0.15% copper. The current resource estimate (sum of Measured, Indicated and Inferred) stands at 7.6 Moz gold with a grade of around a gram per tonne of Au eq."

David West, Salman Partners (11/24/11) "Sandspring Resources Ltd. released assay results from over 12,000m of additional infill, step-out and exploration drilling recently completed at its 100%-owned Toroparu gold-copper project in Guyana. The majority of the holes completed were infill, further indicating the distribution and continuous nature of higher-grade gold mineralization within the main East zone. . .a number of other recently completed stepout holes show possible expansions of mineralization along strike outside the main resource area."

The Gold Report Interview with Ron Struthers (11/18/11) "One of the recent ones I've picked is Sandspring Resources Ltd. Its Toroparu deposit in Guyana has been growing steadily. It's up to 9–10 Moz Indicated and Inferred. That stock's price is between one-half and one-third of its high."

• Corporate Presentation (10/4/11)
• Corporate Fact Sheet (8/1/11)

(2/21/11) In The Field: Guyana Gold

(9/15/10) Sandspring Featured on Agoracom's Best Small Caps

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