Goldspike Exploration Inc. Provides Project and Corporate Update

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES


Goldspike Exploration Inc. ("Goldspike" or the "Company") (TSX VENTURE:GSE) has
completed its exploration field work for the 2012 season and has received
notification that the optionee of the Summit Property has renewed the option for
another year. On December 13, 2012 Kaminak Gold Corporation ("Kaminak")
announced a maiden resource estimate on its Coffee Project that was headlined:
"3,236,000 ounces of Gold at the Coffee Creek Project Yukon" (Kaminak Press
Release December 13, 2012). The Company's VIP Property is located to the west of
the Coffee Project. 


The Company's main areas of focus are the VIP Property and surrounding claims,
located to the west along trend from Kaminak's Coffee Project and the Goodman
Property adjacent to the southwest along trend of Victoria Gold's multi-million
ounce Dublin Gulch Project. On September 25, 2012 Independence Gold Corp.
("Independence") reported gold in soil samples grading up to 4.53g/t on a claim
group on the east boundary of the VIP Property and just west of the Coffee
Project. The VIP Property and surrounding claims cover more than 15 kilometres
along the trend of regional structures in the area west of Kaminak and
Independence. At the time of the press release announcing the discovery of the
new 'Denali' gold zone, Independence reported they were commencing a trenching
program to more fully evaluate the new showing area located between Kaminak's
Coffee Project and Goldspike's VIP Property. Additional information is to be
available in 2013. The Independence property, called the YCS Property, is
subject to an underlying royalty payable to Goldspike.


Other than its interest in the VIP, Goodman and Summit properties, Goldspike
holds 100% interest in 35 other early stage precious metal properties in Yukon,
Canada. The properties were acquired prior to the extensive staking rush that
ensued subsequent to the gold discoveries in the White Gold and Coffee districts
in 2010. The Company is working toward determining the properties that warrant
significant follow-up exploration and anticipates focusing its future efforts on
roughly one third of the overall property portfolio.


Half of Goldspike's properties are located in two of the most active mineral
exploration regions in Yukon; the White Gold area and the Clear Creek-Dublin
Gulch area with other properties located in more spread out locations across
Yukon (we make reference to Coffee Project in paragraph 1, is it in either of
these 2 areas? If so, we should say so as it is in the opening paragraph). These
properties include land in the Atac-Rackla area, West Dawson area, Livingstone
Creek area, Northern Tiger-3 Aces area as well as individual properties covering
specific targets not located in areas where other companies are active.


The preliminary exploration completed to date by the Company and various
optionee companies has revealed many areas of anomalous gold, silver and
precious metal indicator elements on a number of the properties that warrant
follow-up. Some of these target areas were reported to be 'drill ready' at the
end of the 2011 season although to date no drilling has been undertaken on the
properties (why?).


Based upon the results from the programs completed by the Company and various
optionees in 2011 follow-up work programs were recommended for this year's field
work which commenced in mid June.


The 2012 exploration programs were designed to follow-up on targets identified
in 2011, and to expand on the programs completed in 2011. Additionally, some of
the 2012 work effort was targeted at initial site visits to some of the more
remote properties not visited in 2011. These generally smaller properties were
investigated by initial prospecting, geological mapping, and limited
geochemistry surveying.


One of the areas the Company focused on during the initial work phase in 2012
was the further evaluation of the western part of the Goodman Property and the
initial evaluation of the expanded, more eastern part of the Goodman Property
acquired late in 2011 following the discovery of a new area of antimony
(stibnite) mineralization that also showed associated anomalous gold
mineralization. The expanded Goodman Property now includes land located
immediately adjacent to the boundary of Victoria Gold Corp.'s Dublin Gulch
Property on which they have completed a feasibility study (Press release -
February 22, 2012) using a resource base of 4,800,000 ounces of gold (Eagle Gold
Deposit). Closer to the mutual boundary with the Company, Victoria Gold Corp.
announced (January 11, 2012) high grade results that headlined: "Victoria
intersects 27.44 meters of 382 g/t Silver at Rex-Peso, Dublin Gulch Property,
Yukon". The exact distance of this high-grade mineralization from the mutual
border with the Company's properties is unknown at this time, however, initial
indications are that the Rex and Peso historical underground workings are
approximately 1,500 and 4,000 metres, respectively, east of the Goodman Property
boundary. Furthermore, it appears little or no work was ever completed to trace
these gold silver lead zinc antimony zones westward into more overburden covered
areas towards the Company's new antimony occurrence. The discovery of antimony
mineralization along with anomalous gold and silver values in an area of very
limited outcrop may indicate the presence of a significant extension of the Rex
Peso mineralization some 2 kilometres west of the Victoria/Goldspike mutual
boundary. Work in 2012 indicates that anomalous gold in soil geochemical targets
occur in a number of locations on the Goodman Property with values in a number
of locations over 100 ppb gold despite the fact that the medium sampled in many
cases is glaciated material thereby giving the gold anomalies diluted peaks.
Highly anomalous values in antimony, arsenic, silver, and lead were also
outlined, in many cases proximal to anomalous gold values in the soil samples.
The Goodman Property covers 15 kilometres of untested geology along the
structural trend southwest of Victoria Gold's Dublin Gulch Property. The
Company's Goodman Property lies at a lower elevation than Dublin Gulch and as a
result has significantly less outcrop exposure. Given the lack of outcrop and
the presence of widespread glacial overburden, these early results are
considered very encouraging. In many cases the density of traverses is still
generally 0.5 to 1 kilometre.


Work was also undertaken on several other properties in the Clear Creek - Dublin
Gulch Area including Seattle, Josephine, May Creek, Bix, and Lugdush. Other
companies working on adjacent properties in the area include Ryan Gold Corp. and
Golden Predator Resources Corp.


Work by optionees on a number of the Company's properties in 2011 resulted in
significant gold (rock samples) and gold geochemical anomalies being defined at
a number of locations. As a result of the timing of the renewal of the property
options, the optionees still maintained the property options in good standing
until after the start of the field season and several of these projects were not
under the control of Goldspike in time for planning of field work for 2012. The
Company expects to receive all of the technical information regarding work on
these various properties by year end now that the options are no longer in good
standing and the Company will be in a position to plan further work for 2013 on
properties such as the Oliver, Livingstone, Emerald, Sten NW, Rackla and Chances
properties now held 100% by the Company. The favourable initial results indicate
that further follow-up may result in the discovery of significant precious metal
mineralization.


The optionee of the Summit Property, Goldstrike Resources Ltd. ("Goldstrike"),
reported the discovery of significant gold mineralization on the Summit Property
in 2011 and reported additional favourable results from that property in a press
release dated October 1, 2012.


On October 1, 2012, Goldstrike reported fire assays from decomposed bedrock on
the Summit Property grading up to 9.92 g/t gold. The mineralized structure was
reported to have been traced for 400 metres. Pathfinder elements are reported to
be arsenic, antimony, mercury and thallium. A multi-element geochemical anomaly
2,000 metres long and up to 800 metres wide is reported to extend northwest and
remain open. In connection with maintaining the option on the Summit Property in
good standing, Goldstrike delivered 492,308 of its common shares to Goldspike.


Bruce Durham, P.Geo, is a qualified person as that term is defined by National
Instrument 43-101 on behalf of Goldspike and is the person responsible for the
preparation of this release.


This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Any forward-looking statement speaks only as of the date of this
release and, except as may be required by applicable securities laws. Goldspike
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or results or
otherwise. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Goldspike Exploration Inc.
Bruce Durham
President and CEO
416-847-1833
bdurham@goldspike.ca
(TSXV:GSE)
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