Spanish Mountain Gold Drilling Intersects 116.80 Metres of 1.20 G/T Gold Within Larger Interval of 282.50 Metres Grading 0.70 G/T Gold

The most recent news (March 10, 2026) reports significant assay results from the final five holes of the 2025 Fall Diamond Drill program. The standout result is hole 26-DH-1337, which intersected 116.80 metres grading 1.20 g/t gold within a massive 282.50-metre interval of 0.70 g/t gold. Other holes (1334, 1335, 1336) also returned broad intercepts ranging from 200 to 298 metres with grades between 0.31 and 0.53 g/t gold, including higher-grade sub-intervals. The company has now completed 15,034 metres of drilling, significantly exceeding its original 10,000-metre plan.

The impact is Routine - Positive. While the widths and grades are impressive for a bulk-tonnage project, they are incremental to a long string of similar results released throughout Q1 2026. - Consistency: The results confirm the continuity of the "Orca Fault" target over a 530m strike length. - Grade Improvement: The grades (1.20 g/t over 116m) are significantly higher than the current Main Deposit M&I average grade of 0.44 g/t gold. This suggests a high probability of grade "sweet spots" that could improve early-year mine economics. - Program Expansion: Surpassing the drill target by 50% (15k meters vs 10k meters) indicates management is finding enough mineralization to justify continued immediate spending, though it also accelerates the "burn rate."

Spanish Mountain Gold is developing its 100%-owned Spanish Mountain Gold Project in British Columbia. - Flagship Project: A multi-million ounce, bulk-tonnage open-pit project. - PEA Highlights (July 2025): After-tax NPV5% of C$1.0B at $2,450 gold, and C$2.3B at $3,300 gold. - Resource: 4.2M oz Au (M&I) at 0.44 g/t. - Strategy: Utilizing XRT ore sorting to "pre-concentrate" low-grade ore to improve mill head grades.