Spanish Mountain Gold Drills Extensive Mineralization Over 140.67 metres Grading 0.68 g/t Including 1.07 g/t Over 17.00 metres and 0.95 g/t Over 67.31 metres and Extends the Orca Fault Target Trend 130 m to Southeast Drilling 26.46 metres Grading ...

On December 8, 2025, Spanish Mountain Gold released assay results for three additional diamond drill holes from its ongoing 2025 drill program at the Spanish Mountain Gold Project in British Columbia. The results continue to define and extend the recently identified Orca Fault target within the Main Deposit.

Key intercepts include: - Hole 25-DH-1300: 140.67 metres grading 0.68 g/t Au, including higher-grade sections of 17.00 metres at 1.07 g/t Au and 67.31 metres at 0.95 g/t Au. - Hole 25-DH-1304: 26.46 metres grading 0.80 g/t Au, which extends the Orca Fault trend by 130 metres to the southeast.

The company stated these results strengthen the continuity of gold mineralization over a 430-metre strike length for the Orca Fault target. CEO Peter Mah highlighted the consistency of near-surface gold mineralization above the project's global average resource grade and noted the increasing number of intercepts approaching or exceeding 1 g/t gold. This supports the company's dual strategy of defining high-grade mineralization and utilizing ore sorting to scale up potential gold production.

The news is materially positive. It builds directly upon a series of successful drill results released since early November 2025 and confirms that the company's exploration strategy is yielding significant results.

The central challenge and opportunity for the Spanish Mountain project, as defined by its July 2025 PEA, is its large scale but low average grade (0.46 g/t Au head grade in the PEA). The company's explicit strategy is to improve project economics by delineating higher-grade, near-surface zones that could be mined in the early years of operation.

Reviewing the historical news progression reveals a clear, positive trend: - September 12, 2025: The company announced a 9,000-10,000 metre drill program to extend near-surface, higher-grade mineralization. - November 3 & 17, 2025: Initial results from the new "Orca Fault" target confirmed near-surface, higher-grade mineralization. - December 1, 2025: Exceptional results were reported, including 139.82 metres of 0.82 g/t Au and a deeper zone of 33.54 metres of 2.19 g/t Au. This news triggered a significant stock price breakout from C$0.17 to C$0.22 on massive volume. - December 8, 2025 (Current News): These latest results extend the Orca Fault mineralization by another 130 metres and continue to demonstrate long, consistent intercepts with grades (0.68 g/t, 0.80 g/t) well above the PEA average.

This is not a one-off discovery but a systematic confirmation and expansion of a higher-grade domain. Each successful hole adds potential tonnage that could materially improve the economics in a future mine plan by increasing head grade, especially in the early years, which would positively impact the project's payback period and overall returns. The market has already recognized the importance of these results, and this news reinforces the positive re-rating of the project's potential.

Spanish Mountain Gold Ltd. is a Canadian mineral exploration and development company focused on advancing its 100%-owned flagship Spanish Mountain Gold Project. The project is located in the established and low-risk Cariboo Gold Corridor of British Columbia, Canada.

The project is envisioned as a large-scale, long-life open-pit mine. A Preliminary Economic Assessment (PEA) published in July 2025 outlines a 24.5-year mine life with average annual production of over 203,000 ounces of gold in the first five years. The current strategy is to de-risk and optimize the project by defining higher-grade, near-surface starter pits and evaluating ore sorting technology, with the goal of making a construction decision by 2027.