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

VANCOUVER, British Columbia -- (Business Wire) Spanish Mountain Gold Ltd. (the "Company" or "Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to report additional assay results from five exploration drill holes within the Orca Fault target trend that were completed as part of its 2025 Fall Diamond Drill program (“2025 Fall Drill Program”) for the Spanish Mountain Gold (“SMG”) project, which is located in the Cariboo Gold Corridor, British Columbia, Canada. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310299442/en/ Figure 1: Drill Cross Section Through Orca Fault Area (looking northeast); section line A-A’ (see Figure 4) The company has completed approximately 15,034 metres (“m”), surpassing the original estimate of drilling of 9,000 to 10,000 m of exploration drilling planned under the 2025 Fall Drill Program, now continuing into 2026. Assays and geochemistry are pending receipt from the laboratory and or reporting from seven additional drill holes completed within the Orca Fault target area. Highlights: 26-DH-1337 intersected a 282.50 m thick, higher-grade intercept grading 0.70 g/t gold from 91.50 m that includes 116.80 m of 1.20 g/t gold with a high-grade subset of 12.20 m of 2.46 g/t gold 26-DH-1334 intersected a very broad, 298.00 m interval of gold mineralization from 6.00 m, grading 0.31 g/t gold, however, it also included three higher-grade subintervals: 19.00 m of 1.19 g/t gold from 112.50 m; 18.50 m of 0.61 g/t gold from 191.50 m; and 23.00 m of 0.72 g/t gold from 234.50 m 26-DH-1335 intersected a wide intercept of 220.64 m grading 0.44 g/t gold from 3.00 m that includes 143.64 m of 0.60 g/t gold with a high-grade subset of 20.50 m of 1.49 g/t gold; and 26-DH-1336 intersected a wide intercept of 200.20 m grading 0.53 g/t gold from 4.80 m that includes 86.00 m of 0.91 g/t gold with a high-grade subset of 9.00 m of 1.93 g/t gold Key Findings: Current exploration drilling assay results continue to intersect significant higher-grade gold mineralization over 530 m in strike length in the Orca Fault target area trend (Figure 3) and the continuity can now be traced across multiple parallel, adjacent drill sections over 200 m in width. Main Deposit – Orca Fault area Five additional drill holes were collared and successfully completed (see Figure 3) in the Orca Fault target area, 26-DH-1333 (Figure 3 and Table 1), 26-DH-1334 (Figure 2 and Table 2), 26-DH-1335 (Figure 3 and Table 3), and 26-DH-1336 (Figure 2 and Table 4), and 26-DH-1337 (Figure 1, Figure 3, and Table 5). These drill holes continue to confirm and lend confidence to the extent of the Orca Fault target area over 530 m strike length, northwest to southeast, and its geological and structural interpretation within the constraining open pit for the MRE (see July 3, 2025 news release). The continued intersection of broad zones of higher-grade gold mineralization, such as the thick intersection of gold mineralization in drill hole 26-DH-1337 (Figure 1 and Table 5) reinforces the opportunities for not only enhancing the Orca Fault target understanding but developing favorable structures outward into other areas of the Main deposit while exploring for higher-grade gold mineralization in the near surface, open pit environment, as defined in the recent MRE (see July 3, 2025 news release). Drill hole 26-DH-1337 intersected one of the thickest higher-grade intercepts on the property, grading 0.70 g/t gold from 91.50 m that includes 116.80 m of 1.20 g/t gold with a high-grade subset of 12.20 m of 2.46 g/t gold. All results to date continue to reinforce that tighter exploration drill spacing is unlocking additional mineral potential in the Main deposit as drilling systematically works outward from the Orca Fault target, tracking the higher-grade gold mineralization. These exploration drill holes are presented on drill sections (Figure 1, Figure 2, and Figure 3) that shows the alignment of the higher-grade gold mineralization. Table 1: Assay Results for 26-DH-1333 Drill hole From (m) To (m) Width (m) Gold (g/t) Apparent True Thickness 26-DH-1333 36.00 42.63 6.63 0.51 Note 3)   56.20 92.00 35.80 0.30 Note 3) including 70.50 71.16 0.66 2.45 Note 3) including 84.70 92.00 7.30 0.72 Note 3) including 89.93 92.00 2.07 2.03 Note 3)   119.30 121.00 1.70 1.12 Note 3)   143.00 156.20 13.20 0.26 Note 3)   185.00 256.00 71.00 0.44 Note 3) including 185.00 222.80 37.80 0.75 Note 3) including 195.50 222.80 27.30 0.99 Note 3) including 195.50 213.00 17.50 1.35 Note 3)   326.00 347.00 21.00 0.21 Note 3) including 326.00 327.00 1.00 1.07 Note 3) including 338.00 347.00 9.00 0.32 Note 3) Table 2: Assay Results for 26-DH-1334 Drill hole From (m) To (m) Width (m) Gold (g/t) Apparent True Thickness 26-DH-1334 6.00 304.00 298.00 0.31 Note 3) including 6.00 19.24 13.24 0.22 Note 3) including 33.33 37.35 4.02 0.64 Note 3) including 50.42 58.50 8.08 0.23 Note 3) including 75.00 79.50 4.50 0.43 Note 3) including 90.00 90.50 0.50 3.44 Note 3) including 112.50 131.50 19.00 1.19 Note 3) including 151.50 175.11 23.61 0.49 Note 3) including 191.50 210.00 18.50 0.61 Note 3) including 234.50 257.50 23.00 0.72 Note 3) including 285.50 304.00 18.50 0.38 Note 3) including 320.00 327.00 7.00 0.35 Note 3) Table 3: Assay Results for 26-DH-1335 Drill hole From (m) To (m) Width (m) Gold (g/t) Apparent True Thickness 26-DH-1335 3.00 223.64 220.64 0.44 Note 3) including 80.00 223.64 143.64 0.60 Note 3) including 80.00 168.00 88.00 0.83 Note 3) including 80.00 117.50 37.50 0.89 Note 3) including 80.00 100.50 20.50 1.49 Note 3) including 133.00 143.40 10.40 0.89 Note 3) including 136.00 140.67 4.67 1.61 Note 3) including 156.50 168.00 11.50 2.40 Note 3)   343.80 373.00 29.20 0.39 Note 3) including 354.95 367.00 12.05 0.58 Note 3)   403.50 413.75 10.25 0.60 Note 3) including 407.20 408.45 1.25 2.60 Note 3) Table 4: Assay Results for 25-DH-1336 Drill hole From (m) To (m) Width (m) Gold (g/t) Apparent True Thickness 26-DH-1336 4.80 205.00 200.20 0.53 Note 3) including 4.80 152.03 147.23 0.63 Note 3) including 39.00 125.00 86.00 0.91 Note 3) including 116.00 125.00 9.00 1.93 Note 3)   269.92 350.00 80.08 0.47 Note 3) including 269.92 273.14 3.22 0.57 Note 3) including 285.98 320.00 34.02 0.58 Note 3) including 288.50 309.89 21.39 0.74 Note 3) including 297.54 309.89 12.35 0.90 Note 3) including 335.77 350.00 14.23 0.87 Note 3) including 337.42 346.72 9.30 1.16 Note 3) Table 5: Assay Results for 26-DH-1337 Drill hole From (m) To (m) Width (m) Gold (g/t) Apparent True Thickness 26-DH-1337 28.50 42.00 13.50 0.47 Note 3)   91.50 374.00 282.50 0.70 Note 3) including 91.50 264.90 173.40 1.00 Note 3) including 91.50 208.30 116.80 1.20 Note 3) including 91.50 114.40 22.90 1.44 Note 3) including 94.50 106.70 12.20 2.46 Note 3) including 157.00 159.00 2.00 30.66 Note 3) including 178.00 224.50 46.50 1.09 Note 3) including 190.60 224.50 33.90 1.31 Note 3) including 178.00 208.30 30.30 1.30 Note 3) including 190.60 198.00 7.40 4.06 Note 3) including 222.00 224.50 2.50 3.31 Note 3) Notes for Table 1 to Table 5: 1) Reported intersections are calculated using a 0.15 g/t Au cut-off grade. 2) The complete assay table is available on the Company’s website 3) True thickness of mineralization is unknown as the project is still at the exploration stage The integration of assay results from these five exploration drill holes strengthens the overall continuity for the new Orca Fault target and the association of higher-grade mineralization over a strike length of 530 m, northwest to southeast (see Figure 3). Stronger continuity is also now being developed spanning multiple, parallel, adjacent drill sections ranging over 200 m, northeast to southwest, at the widest point along the 530 m, main Orca Fault target trend (see Figure 4). Figure 4 illustrates the locations for five drill hole results outlined in this news release and the drill holes currently in the assay lab, or in process of being drilled. Drill collar location coordinates are summarized for the 2025 Fall Drill Program in Table 6 at the end of this news release. Qualified Person Julian Manco, M.Sc., P.Geo., Director of Exploration with Spanish Mountain Gold, is the Qualified Person as defined under National Instrument 43-101 who has reviewed the technical information in this news release and has approved the content for dissemination. Abbreviations: metres = m, grams per tonne = g/t, CRM = certified reference material, gold = Au, mineral resource estimate = MRE, Spanish Mountain Gold = SMG, quality control = QC, quality assurance and quality control (QAQC) Drill Core Processing, Data Verification and Quality Assurance – Quality Control Program (QAQC) Once received from the drill and processed, all drill core samples were sawn in half, labeled, and bagged. The remaining half of the drill core was securely stored on-site. Numbered security tags were applied to sample shipments to ensure chain of custody compliance. The Company inserts quality assurance and quality control (QAQC) samples at regular intervals, including blanks and reference materials, for all sample shipments to monitor laboratory performance. Standards and blanks account for a minimum of 20% of the samples in addition to the laboratory’s internal quality assurance programs. The QAQC program was overseen by the Company’s Qualified Person, Julian Manco, P.Geo, Director of Exploration (as described below). The data verification process involved a multi-step approach to ensure accuracy and integrity. This included a detailed quality control (QC) analysis of the data, which was performed using both internal and external platforms, such as the MxDeposit™ software. These QC checks involved the analysis of certified reference materials (CRMs), blanks, and duplicates to confirm the reliability of the assay results. In addition, a field inspection of the specific drill intervals mentioned in this release has been conducted to directly observe the geological features and verified the nature of the results presented. Drill core samples were submitted to MSALABS’s analytical facility in Prince George, British Columbia, for sample preparation and PhotonAssayTM analysis. The MSALABS facilities are accredited to the International Standards ISO/IEC 17025 and ISO 9001 standard for gold and multi-element assays, with all analytical methods incorporating quality control materials at defined frequencies and established data acceptance criteria. MSALABS Inc. is independent of the Company. PhotonAssayTM The PhotonAssayTM method utilizes gamma ray analysis for gold detection using the Chrysos PhotonAssayTM instrument (PA1408X). This non-destructive, fully automated technique offers high accuracy for analyzing ores and pulps. Sample preparation begins with drying and crushing up to 1 kg of material to achieve at least 70% passing through a 2-millimetre (mm) sieve. The sample is then riffle split to obtain a suitable aliquot for 2 testing cycles (MSALABS Method CPA-Au1). The PhotonAssayTM instrument bombards 400- to 600-gram samples contained in sealed containers with gamma rays. These containers remain sealed throughout the process, preserving the sample for potential further testing. The analysis is performed robotically, with results that integrate into existing laboratory management systems. Each sample is accompanied by a reference disc traceable to a Certified Reference Material (CRM). Both the sample and reference disc undergo gamma ray exposure, with signals detected and analyzed to ensure accurate and reliable results. The method offers a gold detection range from 0.015 parts per million (ppm - lower limit) to 10,000 ppm (upper limit). Quality control includes the use of reference materials and blanks, with all results reviewed by a competent person before reporting. Spanish Mountain Gold implemented two QAQC methodologies to validate the accuracy of PhotonAssayTM results, both demonstrating good comparability: 1) comparative analysis of diverse mineralization styles using Total Au screen metallic methods with both FAS-415 (gravimetric finish) and FAS-211 (AAS finish), and 2) comprehensive testing of both sample aliquots and rejects using FAS-211 (AAS finish). QAQC Testing typically can include the following spot checks: 1) Pulverizing tests to evaluate variability in sample preparation, 2) Cross-analysis at external laboratories using screen metallic method, and 3) Five-cycle radiation testing to identify and calibrate potential variability in gold results with variable radiation intensity. Multi-Elemental Analysis For the 2025 drilling campaign Spanish Mountain Gold used IMS-230 method to provide multi-element determination using a five-acid digestion followed by ICP-OES and ICP-MS analysis. Key Process Steps: Sample Preparation: Samples are dried and ground to a specific criterion (85% passing 75 microns (μm) for rocks and drill core; 180μm for soils and sediments). A homogeneous 10-gram sample is required. Digestion: Samples undergo sequential digestion with nitric, perchloric, hydrofluoric, and hydrochloric acids, followed by dilution with deionized water. Analysis: The solution is analyzed via ICP-OES and ICP-MS for multi-element quantification. Quality Control: The process includes reference materials, blanks, and duplicates, with corrections for spectral interferences and thorough review before final reporting. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards its goal to build the next gold mine in the Cariboo Gold Corridor, British Columbia. On August 18, 2025, the Company filed an NI 43-101 Technical Report on SEDAR+ that sets out the Project’s de-risked and optimized Preliminary Economic Assessment (PEA), with an updated Mineral Resource Estimate (MRE). We will continue to advance the Project to position the Company to make a construction decision in 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. 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. On Behalf of the Board, “Peter Mah” President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 include but are not limited to statements with respect to, the potential for adding more higher-grade gold mineralization within the pit or outside the current pit design; and the receipt of further results from additional drilling under the 2025 Fall Drill Program, and the plan to make a construction decision in 2027. 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. Table 6: Drill Collar Information for Drill Holes Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT 26-DH-1346 604283 5828115 1109 120 -60 N/A In Progress 26-DH-1345 604496 5828158 1032 120 -60 109 Successfully completed per design 26-DH-1344 604245 5828256 1039 120 -60 243 Successfully completed per design 26-DH-1343 604601 5828076 1036 120 -60 228 Successfully completed per design 26-DH-1342 604249 5827917 1128 120 -60 405 Successfully completed per design 26-DH-1341 604224 5827935 1123 120 -60 375 Successfully completed per design 26-DH-1340 604267 5827952 1120 120 -60 372 Successfully completed per design 26-DH-1339 604192 5827937 1127 120 -60 387 Successfully completed per design 26-DH-1338 604205 5827977 1125 120 -60 390 Successfully completed per design 26-DH-1337 604237 5828049 1098 120 -60 402 Successfully completed per design 26-DH-1336 604284 5827966 1109 120 -60 390 Successfully completed per design 26-DH-1335 604292 5828064 1095 120 -60 415 Successfully completed per design 26-DH-1334 604254 5827971 1116 120 -60 354 Successfully completed per design 26-DH-1333 604236 5828012 1104 120 -60 366 Successfully completed per design 26-DH-1332 604185 5828088 1091 120 -65 372 Successfully completed per design 26-DH-1331A 604595 5827901 1103 120 -60 240 Successfully completed per design 26-DH-1331 604594 5827899 1103 120 -60 55 Ended early due stuck drill rods in fault 26-DH-1330 604332 5827990 1105 120 -60 351 Successfully completed per design 26-DH-1329 604467 5827962 1090 120 -60 255 Successfully completed per design 26-DH-1328 604278 5828018 1105 120 -58 402 Successfully completed per design 26-DH-1327 604411 5828026 1088 120 -60 327 Successfully completed per design 26-DH-1326 604327 5827963 1108 120 -60 351 Successfully completed per design 25-DH-1325 604385 5827966 1103 120 -60 309 Successfully completed per design 25-DH-1324 604343 5828053 1080 120 -60 276 Successfully completed per design 25-DH-1323 604286 5828046 1097 120 -60 338 Successfully completed per design 25-DH-1322 604279 5827995 1106 120 -60 231 Successfully completed per design 25-DH-1321 604350 5828016 1099 120 -60 348 Successfully completed per design 25-DH-1320 604561 5827809 1126 120 -60 57 Ended early due to major fault zone 25-DH-1319 604404 5827992 1095 120 -70 198 Successfully completed per design 25-DH-1318 604445 5828098 1055 120 -60 243 Successfully completed per design 25-DH-1317 604186 5828166 1076 120 -60 282 Successfully completed per design 25-DH-1316 604514 5828073 1050 120 -60 177 Successfully completed per design 25-DH-1315 604231 5828163 1075 120 -60 282 Successfully completed per design 25-DH-1314 604160 5828218 1056 120 -70 270 Successfully completed per design 25-DH-1313 604566 5827908 1100 120 -60 204 Successfully completed per design 25-DH-1312 604538 5827921 1095 120 -60 205 Successfully completed per design 25-DH-1311 604590 5827935 1084 120 -60 330 Successfully completed per design 25-DH-1310 604592 5827961 1091 120 -60 211 Successfully completed per design 25-DH-1309 604592 5827958 1071 120 -60 237 Successfully completed per design 25-DH-1308 603280 5829250 966 120 -60 150 Successfully completed per design 25-DH-1307 604565 5827974 1068 120 -60 200 Successfully completed per design 25-DH-1306 603451 5829400 927 120 -60 123 Successfully completed per design 25-DH-1305 603657 5829226 919 120 -60 126 Successfully completed per design 25-DH-1304 604536 5827986 1067 120 -60 225 Successfully completed per design 25-DH-1303 603960 5828754 943 100 -55 156 Successfully completed per design 25-DH-1302 604194 5828180 1066 120 -63 282 Successfully completed per design 25-DH-1301 603708 5829029 929 150 -55 188 Successfully completed per design 25-DH-1300 604388 5828063 1085 120 -60 274 Successfully completed per design 25-DH-1299 604369 5828043 1093 120 -60 336 Successfully completed per design 25-DH-1298 604402 5828088 1074 120 -59 334 Successfully completed per design 25-DH-1297 604354 5828069 1084 120 -59 342 Successfully completed per design 25-DH-1296 604484 5828054 1061 120 -50 180 Successfully completed per design 25-DH-1295 604484 5828054 1061 120 -60 33 Ended early due to drill trace spacing 25-DH-1294 604345 5828120 1075 120 -58 351 Successfully completed per design 25-DH-1293 604284 5828149 1076 120 -60 453 Successfully completed per design 25-DH-1292 604223 5828189 1068 120 -62 270 Successfully completed per design   View source version on businesswire.com: https://www.businesswire.com/news/home/20260310299442/en/ Contacts: For more information, contact: Peter Mah (604) 601-3651 [email protected] Source: Spanish Mountain Gold Ltd.