Spanish Mountain hires HRDD to conduct drill program

Executive Summary

• Spanish Mountain Gold Ltd. has contracted Hardrock Diamond Drilling Ltd. to execute a 9,000‑10,000 m diamond drill program (27 HQ3 holes) targeting five high‑priority zones at the SMG project.
• The program will start in Q3 2025 and finish by Q1 2026, aiming to extend near‑surface higher‑grade gold mineralization, provide material for ore‑sorting metallurgical studies, and derisk infrastructure locations identified in the 2025 PEA.
• Recent historic intercepts (e.g., 123 m @ 1.08 g/t Au in Main, 139 m @ 4.18 g/t Au in K‑zone, 62 m @ 1.47 g/t Au with 4 m @ 17.28 g/t Au in Phoenix) underscore the potential upside of the upcoming drilling.

Key Details

• Contractor: Hardrock Diamond Drilling Ltd. (HRDD).
• Program Scope: ~9,000‑10,000 metres total; 27 HQ3‑size drill holes; depths 250–600 m.
• Timeline: Commence Q3 2025; complete Q1 2026.
• Target Areas:
• Main deposit – focus on extensions of holes 25‑DH‑1281/1282 (high‑grade azimuth 120°).
• Phoenix deposit – drilling along Evelyn fault, building on intercepts such as 62 m @ 1.47 g/t Au (incl. 4 m @ 17.28 g/t Au).
• K‑zone – step‑out of record intercept 139 m @ 4.18 g/t Au (incl. 0.75 m @ 719.26 g/t Au).
• Outcropping Tuff (OT) target – follow‑up on hole 25‑DH‑1275 (62 m @ 0.60 g/t Au, 5 m @ 4.69 g/t Au).
• A12 target – condemnation holes to derisk surface infrastructure footprint for the process plant and dry‑stack tailings facility.
• Drilling Methodology: Downhole oriented core tools plus split‑tube core barrels for structural measurements and enhanced recovery.
• Strategic Rationale:
• Extend higher‑grade near‑surface mineralization identified in recent drill holes.
• Generate ore‑sorting feed material from Phoenix for metallurgical testing aimed at waste rejection and gold concentration.
• Derisk infrastructure locations outlined in the 2025 PEA to support future engineering studies and a 2027 build decision.
• Historical Context:
• 2024 program: 5,590 m completed Sep 2024 (successful & safe).
• May 2025 program: 10,001 m completed (late May).
• July 2025 MRE & PEA released, highlighting follow‑up drilling opportunities.
• Recent Notable Intercepts (referenced for context):
• Main deposit – Hole 25‑DH‑1281: 123 m @ 1.08 g/t Au; Hole 25‑DH‑1282: 211.9 m @ 0.36 g/t Au (incl. 100.3 m @ 0.52 g/t Au, 16 m @ 1.43 g/t Au).
• K‑zone – Hole 25‑DH‑1286: 139 m @ 4.18 g/t Au (incl. 0.75 m @ 719.26 g/t Au).
• Phoenix – Hole 25‑CCR‑062: 62 m @ 1.47 g/t Au (incl. 4 m @ 17.28 g/t Au); Hole 25‑CCR‑056: 116 m @ 0.40 g/t Au (incl. 13.12 m @ 1.27 g/t Au).
• Qualified Person: Julian Manco, MSc, PGeo, Director of Exploration, Spanish Mountain Gold (NI 43‑101 qualified).

Notable Quotes

(No direct quotes were provided in the release.)