CORRECTING and REPLACING GoldSpring Update: The Plum Mining Company LLC Has Hired American Asphalt and Grading, Inc. of Las Vegas, NV to Begin Mining on Billie the Kid Open Pit Today for Loading on Leach Pad Next Week.

Business Editors

CORRECTION...by GoldSpring, Inc.

CARSON CITY, Nev.--(BUSINESS WIRE)--Dec. 4, 2003

In BW5386 issued Dec. 4, 2003: In the headline and first graph, references to American Paving, Inc. should read xxx American Asphalt and Grading, Inc.

The corrected release reads:

GOLDSPRING UPDATE: THE PLUM MINING COMPANY LLC HAS HIRED AMERICAN ASPHALT AND GRADING, INC. OF LAS VEGAS, NV TO BEGIN MINING ON BILLIE THE KID OPEN PIT TODAY FOR LOADING ON LEACH PAD NEXT WEEK

GoldSpring, Inc. (OTCBB:GSPG) announces today that pursuant to a contract mining agreement executed yesterday with American Asphalt and Grading, Inc. of Las Vegas, NV, mining will commence immediately on the Company's wholly owned Billie the Kid Open Pit mine located in American Flat, Gold Hill, NV. The Company acquired 100% of The Plum Mining Company, LLC on October 28, 2003 and commenced mine production development operations on November 18, 2003 by contracting with American Asphalt and Grading, Inc. to construct leach ponds and pads for cyanide processing of the gold and silver ore from Billie the Kid.

"This first phase has gone so smoothly and a working relationship has been established that enables Plum to move forward immediately with total confidence with American as our contract miner of choice," says Plum Mine Manager, Scott Jolcover. "We have been able to integrate our own equipment into the operation which has saved substantial time and money to date and have worked out an excellent business arrangement moving into the mining phase," he continues. "The addition of American's articulated all wheel drive haul vehicles enables mining and hauling of ore to continue in all except blizzard conditions. Plum's existing equipment and some RMS Ross equipment already at the site will accelerate the production schedule substantially, which is designed to maximize the amount of ore placed on the leach pad prior to year end," he concludes. The ore will be stockpiled next to the leach pad feed assembly for loading on the completed pad early next week. "We have been truly blessed with perfect weather conditions for the start up," says Jolcover. "We are all thankful for this level of assistance and are totally committed to the early success of our operation."

The Company's Merrill Crowe pregnant solution recovery system is being assembled now and will be complete and installed in time to process the first solutions, which result in gold and silver metal.

The Billie the Kid Mine contains 1,600,000 tons of economic gold and silver ore. Our initial open pit model contains 500,000 tons grading .06 ounces of gold/ton and .4 ounces of silver/ton. The initial starter pit target is 70-80,000 tons to be mined immediately for loading on the leach pad.

Further information will be forthcoming on mining and leaching progress and acquisitions in process.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.