Spanish Mountain Gold Ltd. · TSXV:SPA
Spanish Mountain Gold — Mining Forum Americas 2025
27 slides from Spanish Mountain Gold's conference presentation, September 2025
Slide 1: Mining Forum Americas 2025
TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Spanish Mountain Gold Ltd. Mining Forum Americas 2025 September 14 – 17, Colorado Springs USA 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: Spanish Mountain Gold - Large Gold Resource
Spanish Mountain Gold - Large GOLD Resource 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 Project1 292.1 Mt 0.44 g/t 4.2 Moz ▪ Low risk mining
Slide 4: New Vision
✓ Leverage to Gold ✓ Accelerating towards production decision ✓ Confidence with over 251 km of drilling ✓ De-risked tailings & water management FSE: FSE: SPAUF || | FSE: S3Y S3Y S3Y GOLD TOWARDS UPSIDE SUSTAINABILITY LEVERAGE PRODUCTION GROWTH EXCELLENCE OTCQB:SPAUF SPAUF • Large M&I resource at Pot
Slide 5: Capital Markets Summary
Capital Markets Summary Capital Structure Overview Share Price & Volume (Last 12 Months) Share Ownership Tickers TSXV:SPA $0.25 2.0 OTCQB:SPAU.F Volume Price FSE:S3Y 1.8 Directors & Officers TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Share Price C$0.13 $0.20 1.6 17% (as of Sept 4, 2025) Volume (millions)
Slide 6: Board & Management Team
Board & Management Team Highly experienced team with decades of innovative mining, exploration, development & operational expertise SPAUF || FSE: OTCQB: SPAUF S3Y FSE:S3Y Brent Bergeron Lembit Janes Richard Orazietti Garnet Dawson | OTCQB: Chair & Director, M.A. (Economics) Director, MBA Director, M
Slide 7: Small Cap Breakout
Small Cap Breakout …Transitioning to a Developer S3Y FSE:S3Y SPAUF || FSE: Artemis OTCQB:SPAUF Expansion Study Skeena (Feb 2024) Spanish Mountain Gold Updated FS New PEA & MRE* SPA| |OTCQB: (Dec 2023) July 3, 2025 SPA EXPLORER TREND TSXV: TSX-V: Note Share Price Performance Nov 2023 – May 2025 (Sour
Slide 8: 2025-26 Plan and Catalysts
2025-26 Plan and Catalysts Mineral Resource & Exploration Drill Program 2025 H2 2026 H1 2025-26 Fall-Winter Drill Program • Advancing towards Surface exploration program feasibility studies TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Critical Minerals Review • Ongoing positive Project Enhancements engageme
Slide 9: 2025 New PEA & MRE
9 2025 New PEA & MRE Large Scale, High Margin Gold Project ✓ 24.5 yr long mine life ✓ Large mineable resource Large scale, profitable future gold operation ✓ Large throughput rate ✓ Low strip ratio with reduced environmental impacts S3Y FSE:S3Y June 2021 July 2025 PEA Improvement Life of Mine Produc
Slide 10: July 2025 PEA Highlights
10 July 2025 PEA Highlights Base Case Spot1 Gold Price (US$/oz) $2,450 $3,300 Silver Price (US$/oz) $28.50 $36.00 ✓ Re-envisioned, larger scale conventional open-pit Exchange Rate (USD/CAD) 1.35 1.35 project Mine Life (years) 24.5 ✓ Significant, low-cost production Throughput (tpd) 26,000 S3Y FSE:S3
Slide 11: Updated 2025 MRE
11 Updated 2025 MRE Spanish Mountain Project NI 43-101 Mineral Resource Estimate • Over 251,000 m of drill data Cut off Tonnes Gold Contained Silver Contained Area Classification (g/t Au) (Mt) (g/t) Gold (koz) (g/t) Silver (koz) • Incorporates successful drill Measured 77.4 0.53 1,321 0.68 1,701 S3Y
Slide 12: Growth – Expanding Mineralized System
GROWTH – A 2 x 3 km Footprint for an Expanding Mineralized System, Connects Two Major Gold Deposits TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Northeast view of the unconstrained MRE from Main and Phoenix Deposits Southwest view of the new MRE of the Main Deposit • Note that the confirmed extension of bot
Slide 13: High-grade Showcase Intercepts – New Upside Near Surface
High-grade Showcase Intercepts – New Upside Near Surface Purple disks represent > 10 g/t Au new and historical samples 08-DDH-722 Phoenix Deposit Main Deposit 07-DDH-689 1.50m @ 19.70 Au g/t 0.75m @ 39 Au g/t 08-DDH-714 25-DH-1275 08-DDH-774 1.36m @ 1.46 Au g/t 5.04 m @ 4.69 g/t Au 1.50m @1.72 Au g/
Slide 14: Exploration Upside
The Wall Of Fame core image - 25-CCR-051 The Wall Of Fame core image – 25- DH -1285 EXPLORATION UPSIDE Near Surface High Grade Focus Sphalerite (Zn) Pyrite ✓ TWO GROWING DEPOSITS Galena (Pb) ➢ MAIN TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y ➢ PHOENIX Galena (Pb) ✓ HIGH-GRADE INTERCEPTS Gold NEAR SURFACE ✓
Slide 15: Q3 2025-Q1 2026 Drill Targets
Q3 2025-Q1 2026 Drill Targets 9,000-10,000 m OT A12 target Main Deposit Target1 Total Objective TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Phoenix Deposit ~ 3700 Expansion Main Deposit Main Zone Upper (Main Upper ~3200 High grade Zone) Condemnation Advance to (OT & A12) ~1200 FS Phoenix K-Zone ~1300 High
Slide 16: 2025 Near Surface K Zone & Record High Grade Intercept
2025 Near Surface K Zone – 581 gptm1 & New Record High Grade Intercept 25-DH1286 Proposed 2025 Highlights 2 Drilling • Hole 25-DH-1286 intersected 139.00 m @ 4.18 g/t Au from 56.00 m, including record high-grade intercept of 719.26 g/t Au over 0.75 m from 165.10 m Historic TSX-V: SPA | OTCQB: SPAUF
Slide 17: 2025 Phoenix Target: Mafic Tuff, A New Gold Host
2025 Phoenix Target: Mafic Tuff , A New Gold Host 2025 Results Highlights 1 • Large mineralized system confirmed • Drilling confirmed the expansion of the Phoenix Target over a strike length exceeding 1.4-kilometers, 450 m TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y wide and with a consistent mineralizatio
Slide 18: 2025 Main Deposit: Potential for High Grade Extensions
2025 Main Deposit: Potential for High Grade Extensions TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y 100m A-A’ Long section looking NE The background corresponds to the PEA MRE Block Model colored by gold content. Block model is 5 x 5 x5 with subblocks of 1.25m Red barrels indicate High grade intercepts larg
Slide 19: Highlights
Spanish Mountain Gold Highlights Build Decision in 2027 TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y NEXT STEPS CATALYSTS PLAN AWARD AND ✓ DRILLING MOBILIZE DRILL STRATEGY NEXT CONSIDER ✓ PFS/FS DECISION CONTRACTOR STEPS ADVANCING ✓ STRATEGIC NEW VISION DIRECTLY TO A PARNERSHIPS AWARD SENSOR FEASIBILITY STU
Slide 20: Appendix
Appendix TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y
Slide 21: 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 22: 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. SPA
Slide 23: 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 24: 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 12km • Potential for critical metals includes the Cedar Creek and Nina La
Slide 25: 2025 Main Deposit: Extending the High-Grade Controls
2025 Main Deposit: Extending the High-Grade Controls Rationale to continue drilling this area: • Drilling the preferred 120 azimuth around drill holes 25-DH- 1281 and 25-DH-1282, which was effective in hitting high- grade gold not previously modeled, potentially associated TSX-V: SPA | OTCQB: SPAUF
Slide 26: Advance to FS - Outcropping Tuff and North Zone
Advance to FS - Outcropping Tuff and North Zone Rationale to continue drilling this area: • Drilling confirmed the High-grade gold occurrence and recovery in the Outcropping Tuff (OT) hosting unit (Mafic Tuff) S3Y FSE:S3Y A12 target 25-DH-1275: 62.20 m grading 0.60 g/t Au, including 5.04 SPAUF || FS
Slide 27: Peter Mah
Peter Mah President & CEO Investor Relations (604) 398-4377 info@spanishmountaingold.com info@spanishmountaingold.com spanishmountaingold.com TSX-V: SPA | OTCQB: SPAUF | FSE: S3Y Subscribe for Updates Scan the QR code to sign up for emails