GSE

Goldspike Exploration Inc. ("Goldspike" or the "Corporation") (TSX VENTURE: GSE) is pleased to announce that it has closed its initial public offering (the "IPO") of common shares and listed such shares on the TSX Venture Exchange. Goldspike issued the maximum 16,000,000 units that were qualified for distribution under its final prospectus dated July 21, 2011, at a price of $0.25 per unit for gross proceeds to the Corporation of $4,000,000. Each unit is comprised of one common share of Goldspike and one-half of one transferable common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant exercisable for one common share of Goldspike at an exercise price of $0.35 per common share until August 3, 2013.

Canaccord Genuity Corp. ("Canaccord") acted as agent for the IPO and received commission of $300,000 and a cash corporate finance fee. In addition, the Company issued an aggregate of 1,600,000 non-transferable Agent's options and 400,000 Agent's commission units to Canaccord. Each Agent's option entitles the Agent to purchase one Agent's unit at an exercise price of $0.25 per Agent's unit until August 3, 2013. Each Agent's unit is comprised of one common share and one-half of one non-transferable Warrant. Each Agent's commission unit is comprised of one common share and one-half of one non-transferable Warrant. 400,000 of the non-transferable Agent's options issued to Canaccord are subject to a four-month statutory hold period, which will expire on December 4, 2011.

Certain insiders of the Company purchased an aggregate of 4,000,000 units under the IPO.

About Goldspike Exploration Inc.

Goldspike Exploration Inc. is a junior mineral exploration corporation with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious metals. The Corporation has interests in 5,058 mineral claims in the Yukon Territory, representing 40 claim groups. The Corporation's principal property is the VIP Property, which consists of 1 claim group consisting of 403 mineral claims located within the Whitehorse Mining District.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Goldspike in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. Person absent registration or an applicable exemption from the registration requirements of such Act or laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Goldspike Exploration Inc. R. Bruce Durham President and Chief Executive Officer (416) 414-2144 (416) 504-4129 (FAX) rbrucedurham@gmail.com