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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Dec. 14, 2004--
Mr. Stephen Parent, President of GoldSpring, Inc.
(OTCBB:GSPG) announces today that a majority of the Company's common
shareholders signed a Consent Resolution on December 9, 2004, which
removed seven members of the Company's Board of Directors and
rescinded the November 30, 2004, Board Resolution that apparently
authorized a recapitalization scheme that, if executed, could give
majority shareholder control of GoldSpring to the group that financed
the Company through an equity private placement in March of 2004. The
removed directors and officers are: Robert T. Faber, John F. Cook,
Leslie L. Cahan, Todd S. Brown, Christopher L. Aguilar, Stanley A.
Hirschman and Phillip E. Pearce. The Majority Shareholder Consent
Resolution directed the remaining members of the board to carry out
the rescission of all business conducted at the November 30th Board
meeting.
The shareholder action was initiated by Stephen Parent, one of the
Company's directors, filing a formal dissent with the Company
regarding the November 30th meeting and delivering to the Company a
Demand for a Special Shareholders Meeting on December 7, 2004. Several
shareholders, including Jubilee Investment Trust in London, who
provided the first equity round of financing of the Company and who
holds approximately 20% of its shares, then became concerned that the
recapitalization

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