South Pacific Metals Commences Exploration at the Kili Teke Copper-Gold Project, Papua New Guinea - Host to a 4.2Moz Gold-Equivalent NI 43-101 Inferred Resource

South Pacific Metals Corp. (SPMC) announced the commencement of exploration at its 100%-owned Kili Teke Copper-Gold Project in Papua New Guinea. The project hosts a 4.2 Moz AuEq NI 43-101 Inferred Mineral Resource (237 Mt @ 0.24 g/t Au, 0.34% Cu, 168 ppm Mo).

Three of the four prospect areas (Ieru Porphyry, Ridge Gold Area, Skarn Corridor) remain largely untested, offering significant exploration upside. A staged work program is underway, utilizing machine-learning targeting (ALS GeoAnalytics LithoLens™) to prioritize 14 drill targets.

Formal landowner and government support has been secured from the Hela Provincial Governor and local administrations. Initial activities include camp re-establishment, community engagement, reconnaissance mapping, soil geochemistry, ground magnetics, and trenching, culminating in discovery drilling.

South Pacific Metals Corp. (SPMC) has initiated a new phase of exploration at its Ontenu NE project, marking a logical progression of its 2026 exploration plan following the successful maiden drilling program. The company currently holds a 4.2 Moz AuEq resource estimate, which remains classified as Inferred and untested in key areas.

The market had been anticipating this step, consistent with the company's multi-asset PNG portfolio strategy and prior announcements regarding the Kili Teke work program. While the commencement of exploration validates the district-scale potential, it is viewed as incremental to the ongoing exploration narrative rather than a sudden, unexpected catalyst. As this is early-stage exploration without immediate resource conversion or production timelines, the news does not immediately alter the financial outlook or valuation model.

South Pacific Metals Corp. (SPMC) is an exploration company focused on gold and copper projects in Papua New Guinea. Its flagship assets include the Kili Teke deposit, which holds 4.2 Moz AuEq Inferred resources, and the Ontenu NE project, characterized by high-grade epithermal Au-Cu-Ag mineralization. The company’s portfolio also encompasses the Kili Teke, Ontenu (Central, NE, Anga), and May River projects. Currently in the exploration stage, South Pacific Metals Corp. has no production. The company is led by CEO Timo Jauristo, formerly of Goldcorp and Newcrest, and Chair Michael Murphy, founder of Torex Gold.