GoldSpot Discoveries Engaged by Ranchero Gold to Apply AI on the Santa Daniela Project in Sonora Mexico

Toronto, October 22, 2021 - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) ("GoldSpot" or the "Company"), a leading technology services company leveraging machine learning to transform the mineral discovery process, is pleased to announce it has been engaged by Ranchero Gold (TSXV: RNCH) ("Ranchero"), to apply its proprietary machine learning technology and geoscience expertise on Ranchero's Santa Daniela project located in Mexico.

Ranchero's Santa Daniela Project is situated within the Sierra Madre Occidental Gold Belt in Sonora Mexico, with three large producing gold mines on trend, Mulatos (Alamos Gold), and La India and Pinos Altos (Agnico Eagle). GoldSpot has been engaged to apply its machine learning techniques and integrated geoscience approach to provide smart targets for Ranchero's upcoming 3,000+ km drill program.

"We are excited to be working with Ranchero Gold on their highly prospective epithermal gold system," said GoldSpot Executive Chairman and President Denis Laviolette. "GoldSpot has extensive experience working with and defining epithermal gold systems and we look forward to working in conjunction with the technical team at Ranchero to provide Smart Targets for their drilling campaign."

Bill Pincus, Ranchero's President, Director and Chief Executive Officer, commented, "We are thrilled to be working with GoldSpot. The application of machine learning to diverse exploration data is a new tool we can use to best identify new drill targets and one of the best ways to move the exploration of new areas at Santa Daniela forward."

About Ranchero Gold

Ranchero is a gold company focused on exploration and development within Sonora, Mexico. The Company owns the Santa Daniela Property, a highly prospective gold project covering over 22,000 ha. In the Sierra Madre Occidental Gold Belt. Historic drilling has encountered multiple intercepts of gold mineralization and a 3,000+ m drill program aims to expand that resource.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientist's merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.

For further information please contact:

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

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