Vancouver - Spanish Mountain Gold Ltd. (the 'Company' or 'Spanish Mountain Gold') (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to provide assay results from eight diamond drill holes completed as part of its 2025-2026 Diamond Drill program on the Spanish Mountain Gold project (the 'Project'), located in the Cariboo Gold Corridor, British Columbia, Canada.
Approximately 28,500 metres ('m') of drilling has been completed to date as part of the 2025-2026 Drill Program(1), which includes 13,400 m of a planned 60,000 m drilling program related to the 2026 Feasibility Drill Program ('2026 FS Drill Program') initiated in March 2026. Assay results are pending for 19 additional drill holes.
Highlights:
26-DH-1362 returned 100.1 m of 0.88 grams/tonne ('g/t') gold from 8.3 m, including 33.9 m of 2.24 g/t gold from 72.0 m and 9.0 m of 7.46 g/t gold from 96.9 m.
26-DH-1361 intersected 221.8 m of 0.74 g/t gold from 128.0 m, including 100.0 m of 1.00 g/t gold from 231.0 m and a high-grade subset of 24.35 m of 2.06 g/t gold from 306.65 m.
26-DH-1366 intersected 339.0 m of 0.51 g/t gold from 26.0 m, including 138.8 m of 0.79 g/t gold from 160.1 m and 41.9 m of 1.09 g/t gold from 160.1 m.
26-DH-1363 intersected 20.5 m of 1.75 g/t gold from 36.5 m and 12.0 m of 1.37 g/t gold from 208.0 m within a broader interval of 331.5 m of 0.42 g/t gold from 36.5 m.
Spanish Mountain Gold, President, Chief Executive Officer & Director, Peter Mah, commented: 'We are excited to announce positive new high-grade near surface drill results from the 2026 Feasibility Drill Program including 100.0 m of 1.00 g/t, 100.1 m @ 0.88 g/t, and 138.8 m of 0.79 g/t gold in three holes within the growing Orca Fault Corridor. These results continue to expand on previous reported drill intersections of high-grade late-stage mineralization along the Orca Fault Corridor. Drilling is progressing with two rigs currently dedicated to testing the limits of the Orca Fault Corridor and the Company expects to provide regular updates as results are received and validated.'
About Spanish Mountain Gold Ltd.
Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. On May 1, 2026, the Company received the first instalment of US$22.5 million in connection with the sale of a 1.5% NSR to Wheaton Precious Metals for US$55 million
The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on www.sedarplus.ca and on the Company's website: www.spanishmountaingold.com.
Contact:
Peter Mah
Tel: (604) 601-3651
Email: info@spanishmountaingold.com
FORWARD-LOOKING INFORMATION
Certain of the statements and information in this press release constitute 'forward-looking information'. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects', 'anticipates', 'believes', 'plans', 'estimates', 'intends', 'targets', 'goals', 'forecasts', 'objectives', 'potential' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and includes but is not limited to information with respect to exploration drilling extending near surface gold mineralization hosted within the Orca Fault Corridor, the potential to enhance the life-of-mine plan in the first 10-years of production, the receipt of the two remaining instalments from the sale of the 1.5% NSR to Wheaton Precious Metals for US$55 million, the results of the feasibility study, and the timeline to make a construction decision. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
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