Spanish Mountain Gold Ltd. · TSXV:SPA
Spanish Mountain Gold — Mining Investment Event, Quebec City, June 3-5, 2025
34 slides from Spanish Mountain Gold's conference presentation, June 2025
Slide 1: Mining Investment Event, Quebec City, June 3-5, 2025
Spanish Mountain Gold Ltd. TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Mining Investment Event Quebec City, June 3-5, 2025 TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y © 2025 Spanish Mountain Gold Ltd. All rights reserved.
Slide 2: Cautionary Statement
Cautionary Statement This presentation under no circumstances is to be construed to be an offering of securities of the Company. Neither this presentation nor its delivery to the recipient will constitute an offer to sell, or the solicitation of an offer to buy the assets and or securities described
Slide 3: Large Gold Resource in the Cariboo Gold District, Fast-Tracking to 2027 Build Decision
Spanish Mountain Gold - Large GOLD Resource in the Cariboo Gold District Fast-Tracking to a 2027 Build Decision Project Location Near Infrastructure Large Resource in the Cariboo Gold District Deposit Tonnage Au Grade Contained Au (M&I) Favorable Tier 1 Jurisdiction – Cariboo Gold Corridor SMG Proje
Slide 4: New Vision
Fast-track1 to a Build Decision by 2027 Confidence ~236 km of Drilling Targeting Derisked Robust Cashflow FSE: FSE: SPAUF || | FSE: S3Y S3Y S3Y GOLD FUNDAMENTAL HIGH GRADE SUSTAINABILITY LEVERAGE VALUE GROWTH EXCELLENCE OTCQB:SPAUF SPAUF Favourable gold price Mineral endowment open Lowering ca
Slide 5: Board & Management Team
Board & Management Team Highly experienced team with decades of innovative mining, exploration, development & operational expertise SPAUF || FSE: OTCQB: SPAUF S3Y FSE:S3Y Brent Bergeron Lembit Janes Richard Orazietti Garnet Dawson Christopher Lattanzi SPA || OTCQB: Chair & Director, M.A. (Economics)
Slide 6: Capital Structure Overview
Capital Structure Overview SHAREHOLDERS* Equity Composition and Cash Directors & Officers TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Cash CDN (March 31, 2025) $ 4.6 M* 18% Market Cap (May 20, 2025) $ 64.5 M *Cash balance as at Mar 31, 2025 – Note that on 15Nov24, the Company closed a PP financing for gros
Slide 7: Breakout Time Approaching
Breakout Time Approaching …Transitioning to a Developer TSXV: SPA | OTCQB: SPAUF | FSE: S3Y Artemis Expansion Study Skeena (Feb 2024) Spanish Mountain Gold Updated FS New PEA & MRE (Dec 2023) H1 2025 EXPLORER TREND Note Share Price Performance Nov 2023 – May 2025 (Source: S&P Capital IQ)
Slide 8: Accelerated Transition to Developer
Accelerated Transition to Developer Value per M&I Resources ($/Oz)1 $450 $409 $400 $354 $350 TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y $300 $250 $/Oz $200 Average excluding SPA $164/Oz $150 97 $100 72 $50 $39 $21 14 $12 $- Artemis Skeena Osisko Dev Probe First Mining Troilus SPA Banyan Gold Project Stage
Slide 9: New PEA Anticipated Improvements and Derisking
9 New PEA Anticipated Improvements and Derisking SCALE 20 ktpd Assessing Range of 20ktpd – 50ktpd PIT SELECTION Sub-optimal Pit Selected Larger Optimized Pit S3Y MINING Diesel Electrification (mine fleet and equipment) FSE:S3Y SPAUF | | FSE: PROCESSING Conventional Flotation with Gravity Coa
Slide 10: 2025 Plan and Catalysts
2025 Plan and Catalysts 2025 Mineral Resource & Exploration Drill Program H1 H2 2024 Drill Program completed COMPLETED – ALL ASSAYS RELEASED IN 2024 2025 Drill Program (Commenced Feb 10) NEW Mineral Resource Estimate1 TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Project Enhancements Whittle NPV Opti
Slide 11: 2025 Exploration Program Achievements
The Wall Of Fame core image - 25-CCR-051 The Wall Of Fame core image – 25- DH -1285 2025 Exploration Program Achievements Sphalerite (Zn) DISCOVERY – GAME CHANGERS Pyrite Identified new high-potential Galena (Pb) geological host environment: TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y 1. K Zone 2. Outcro
Slide 12: 2025 Drill Program Targets & Objectives: Plan View
Growth: 2025 Drill Program Targets & Objectives: Plan View Going for high grade gold mineralization extensions near the historic 2021 Resource Pit Targets & Objectives K-Zone and Slipper Zone TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Targets • Test high-grade near surface mineralization and reduce strip
Slide 13: 2025 Near Surface K Zone & Record High Grade Intercept
2025 Near Surface K Zone – 581 gptm1 & New Record High Grade Intercept Long Section View A-A’ - Looking Northeast Result Highlights 1.1 kilometers (km) • Hole 25-DH-1286 intersected 139.00 m @ 4.18 g/t Au from 56.00 m, including record high-grade intercept of TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y 719
Slide 14: Potential Expansion of Near Surface Gold Mineralization
Potential Expansion of Near Surface Gold Mineralization NW Long Section View B-A Looking Northeast Result Highlights 3.0 kilometers (km) • Drilling indicates that mineralization occurrences extend at least 3 km NW from TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Main Zone to Outcropping Tuff • Host rock in
Slide 15: 2025 Phoenix Target: Mafic Tuff, A New Gold Host
2025 Phoenix Target: Mafic Tuff , A New Gold Host Long Section B-C View - Looking East-Southeast Results Highlights 1.75 km • Current drilling intercepted multiple quartz-galena- sphalerite veinlets and pyrite veins hosted in mafic Tuff TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y unit Highlights • 25-CCR-0
Slide 16: 2025 Phoenix Target: Mafic Tuff, A New Gold Host
2025 Phoenix Target: Mafic Tuff , A New Gold Host Results Highlights • Drilling confirmed the expansion of the Phoenix Target over a strike length exceeding 1.4-kilometers, 450 m wide and with a consistent mineralization zone(s) grading TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y 0.40 g/t Au Highlights • 2
Slide 17: Spanish Mountain Gold Highlights
Spanish Mountain Gold Highlights Build Decision in 2027 TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y LOOK-AHEAD CATALYSTS PLAN TARGETING AN MRE EXECUTABLE BUILD STRATEGY PEA DECISION BY 2027 NEW MRE & PEA 2025 DRILLING FAST TRACK TO A NEW VISION STAGED PFS/FS DECISION BUILD DECISION PRODUCTION BUILD
Slide 18: Appendix
Appendix TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y
Slide 19: Uplifting Operating Practices & Mining Industry Standards
Uplifting Operating Practices & Mining Industry Standards TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y UPCYCLED DRILL CORE SAMPLE CRATES Going Beyond the TRIPLE BOTTOM LINE (Safety, Health & Environment, Community Involvement, and Cost Savings) Process & End Products – 2024 to 2025 Exploration Program Rem
Slide 20: Leveraged to Rising Gold Price Environment
Leveraged to Rising Gold Price Environment Robust IRR Through Gold Price Ranges After-tax Gold Spot Price USD $3,288 NPV(5%) IRR May 30, 2025 Close TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y 39% 36% 31% 27% C$1,580 M 22% C$1,350M 16% C$1,119 M C$888 M C$655M C$415 M PFS1 $1,400 $1,600 $1,800 $2,000 $2,200
Slide 21: Maximize Project NPV and Scale via Whittle Enterprise Optimization
Maximize Project NPV and Scale via the Whittle Enterprise Optimization 2021 Pre-Feasibility Study Highlights NPV5% The Whittle Enterprise Optimization is substantially complete and will guide the $848 — Pre-tax C$ millions $655 PEA mine plan assumptions — After-tax IRR 25% — Pre-tax % PFS Pit Shell
Slide 22: New PEA Anticipated Improvement Brackets
New PEA Anticipated Improvement Brackets Project Scale | Pit Selection | Mining | Processing METSO High Pressure Grinding Rolls FSE: SPAUF | |FSE: OTC: SPAFZ SPA| |OTCQB: S3Y S3Y Larger scale expected to Electrification expected SPA Pit selection optimized Improved gold production provide greater to
Slide 23: New PEA Anticipated Improvement Brackets
New PEA Anticipated Improvement Brackets Waste Rock and Water Management | Geotechnical & Tailings Management Facility (TMF) FSE: SPAUF | |FSE: OTC: SPAFZ SPA| |OTCQB: S3Y S3Y Lower volumes to Lower safety, Coarser tails product Enhance sustainability by SPA minimize treatment environment and benefi
Slide 24: New PEA Anticipated Improvement Brackets
New PEA Anticipated Improvement Brackets TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Executable Business case that is expected to Maximize NPV while Lowering Risk Leverage State-of-the-Art Low-cost renewable Significantly lower Commercially Available Technology carbon footprint with energy to replace d
Slide 25: BC Hydro Power Connection Process
BC Hydro Power Connection Process1 Advancing to Stage 2 of the SIS with BC Hydro, the first step in the Transmission Load Interconnection Process for a proposed 230 kilovolt (kV), 60-mega-watt (MW) renewable hydroelectric power substation and a 75-kilometre transmission line to the SMG Project. OTCQ
Slide 26: BC Fast-Tracking Initial List of Resource Projects
BC Fast-Tracking Initial List of 18 Resource Projects BC Premier David Eby's office fast-tracking resource projects in-order-to reduce its reliance on trade with the United States. S3Y FSE:S3Y SPAUF || FSE: The Office of the Premier says in a statement We know that we have OTCQB: SPAUF that combined
Slide 27: Largest Resource in the Cariboo Gold Corridor
Largest Resource in the Cariboo Gold Corridor Osisko Development Cariboo Gold Project Wells NTS 093H The SMG Project has the largest resource located (McBride) WB Barkerville within a Cariboo Gold Corridor with total length of TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y LC approximately 100km AC CC Enc
Slide 28: Property size over 10,000 Hectares
Property size over 10,000 Hectares 100% SMG Owned Mineral Claims • Deposit measures approximately 1,800x TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y 800m • Prospective argillite units of the Nicola Group cover a strike length of over 10km • Potential for critical metals includes the Cedar Creek and Nina La
Slide 29: Mineral Reserve & Resource Estimate
Mineral Reserve & Resource Estimate1 The Project's Mineral Reserves, a subset of the M&I Mineral Resources, are based on the PFS mine plan and estimated according to CIM 2019 Best Practices and 2014 CIM Definition Standards. The PFS includes an updated Mineral Resources estimate based on the pit she
Slide 30: Mineral Reserve & Resource Estimate Notes
Mineral Reserve & Resource Estimate Notes Mineral Reserve Estimate Notes Mineral Resource Estimate Notes 1. The Mineral Reserve estimates were prepared by Marc Schulte, P.Eng. (who is 1. The Mineral Resource Estimates were prepared by Marc Jutras, P.Eng.; M.A.Sc. also the independent Qualified Perso
Slide 31: Peer Information
Peer Information Company Source Stage Cut-Off Grade AuEq Parameters & Calculation Gold Grade Mkt Cap ($M) O/P Mineral Resources are reported at a cut-off grade of 0.7 g/t AuEq, using the equation AuEq = ((Au (g/t) * 1,700 * 0.84)+ (Ag (g/t)* 23 * 0.88))/(1,700 * 0.84). Technical Report 0.7 g/t AuEq;
Slide 32: TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y
TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y
Slide 33: PhotonAssay Technology
PhotonAssayTM Technology The Company has engaged MSALABS to utilize PhotonAssayTM, an innovative technology, for the 2025 drill program results to reduce assay result turnaround times and the carbon footprint. TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Source: https://www.msalabs.com/photonassay 33
Slide 34: Peter Mah, President & CEO - Investor Relations
Peter Mah President & CEO Investor Relations (604) 398-4377 info@spanishmountaingold.com spanishmountaingold.com TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Subscribe for Updates Scan the QR code to sign up for emails
Spanish Mountain Gold — Mining Investment Event, Quebec City, June 3-5, 2025 on 6ix