Spanish Mountain Gold Commences 2025 Winter Exploration Drill Program
Spanish Mountain Gold Ltd.
910-1111 Melville Street
Vancouver, British Columbia, V6E 3V6
Tel: 604.601.3651
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Spanish Mountain Gold Commences 2025 Winter Exploration Drill Program
Vancouver, B.C., February 10, 2025 - Spanish Mountain Gold Ltd. (the " Company" or "Spanish
Mountain Gold ") (TSX-V: SPA ) (FSE: S3Y ) ( OTCQB: SPAZF ) is pleased to announce the
commencement of its 2025 winter exploration diamond drill program (the “ 2025 Winter Drill
Program”), at its Spanish Mountain Gold Project (“ SMG Project”), located in the Cariboo Gold
Corridor, British Columbia, Canada.
Peter Mah, Spanish Mountain Gold’s President & CEO commented, “We are looking for game
changers, both in terms of potential high-grade and growth of the mineral endowment that could
significantly impact the project ’s future value . Drilling conducted will also facilitate locating the
project infrastructure away from potential mineralized gold endowment as the company advances
towards a fast-tracked build decision by 2027.”
The 2025 Winter Drill Program will focus on extending mineralization outcropping at and near
surface along strike, as well as testing deeper high -grade intercepts discovered in the 2024
exploration drill program. Approximately 10,000 metres (“m”) of drilling with 25 NQ and HQ sized
diamond drill holes, ranging from 350 m to 700 m long, are planned on the following targets (refer
to Figure 1 in press release dated January 21, 2025 , “ Spanish Mountain Gold Provides Project
Update and Announces 2025 Exploration Drill Program”):
• Slipper and K Zones
o Near-surface extensions of these zones with potential for low waste strip ratio
open pit mining.
• Deep New Cataclastic Argillite Horizon
o Drilling on this target will follow up on the high-grade intercepts encountered in
drill hole 24-DH-1268 (refer to press release dated December 18, 2024, “Spanish
Mountain Gold Intercepts Continuous Mineralization” ) with potential to extend
near pit mineralization deeper and to the northwest.
o This program will also test the depth extents of this high -grade mineralization
near drill hole 24-DH-1268 relative to its potential for underground mining.
o Drilling on this target has started.
• Outcropping Tuff Target - There are three main reasons to drill this target:
o First, t he area is located approximately 1,350 m northwest of the 2021 pit
constrained resource (refer to the Spanish Mountain Gold Project - Prefeasibility
Study (PFS) and Mineral Resource Estimate, and associated NI 43 -101 Technical
Report, effective date May 10, 2023, available on the Company’s website or under
the Company’s profile on Sedarplus.ca), and it has the potential to extend near
surface, low strip ratio, high-grade open pit mining for the project;
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o Second, h istorical drilling in the target area intercepted high -grade quartz
structures from 60 m to 188 m of vertical depth. No historical drilling below this
depth exists in this area; and
o Third, there are indicati ons that the stratigraphic sequence was uplifted in this
area, potentially bringing the high-grade gold hosted Cataclastic Argillite Horizon
(mentioned above) closer to surface.
o Drilling on this target has started.
• Phoenix Target
o The Phoenix Target area was previously identified by historical drilling that
encountered significant gold intercepts associated with quartz vein ing (refer to
press release dated December 7, 2011, “Spanish Mountain Gold Announces
Discovery of New Gold Zone”).
o In 2024, as part of the core relogging campaign, a new geological model
containing the Phoenix Target was developed. It model led potential gold
mineralization over approximately 1700 m wide by 350 m long by 100 m thick.
Due to the high -grade intersections and a sizeable potential near -surface
mineralized gold endowment volume, f ollow-up drilling is warranted to
determine the extents of potential gold mineralization for open pit mining and its
potential impact to the overall project footprint.
o A winter road has been cleared to the drill site areas and drilling is expected to
commence within the first quarter of 2025.
The Company has engaged Hardrock Diamond Drilling, in partnership with the Williams Lake First
Nation and SkyWest Environmental, in partnership with the Xatsull First Nation to execute the 2025
Winter Drill Program. The Program will employ 25 local and regional workers benefiting British
Columbia (BC) based families and economy.
To reduce assay result turnaround times and the carbon footprint, the Company has engaged
MSALABS to utilize PhotonAssayTM, an innovative technology, for the drill program results.
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 and approved the contents of this news
release.
About Spanish Mountain Gold Ltd.
Spanish Mountain Gold Ltd. is focused on advancing its 100% -owned Spanish Mountain Gold Project
towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia . We are
conducting an integrated Whittle Enterprise Optimization to identify the highest potential value -add
improvements while increasing the understanding of the high-grade geologic controls and associated
drill targets that could upgrade and expand the gold resource. 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 mean ingful
sustainability for communities. Details on the Company are available on www.sedarplus.ca and on the
Company's website: www.spanishmountaingold.com.
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On Behalf of the Board,
“Peter Mah”
President, Chief Executive Officer and Director
Spanish Mountain Gold Ltd.
For more information, contact:
Suzette N Ramcharan
(604) 601-3651
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in 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 statement s 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 information with respect to, the timing, size, scope and results of the 2025 Winter Drill
Program and the timing on release of those results; the potential near-surface mineralized gold endowment
potential of the Phoenix Target; and the Company’s ability to make a build decision by 2027, which is reliant
on a number of factors. 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 eve nts affecting such statements
or information. For the reasons set forth above, investors should not place undue reliance on forward -
looking information.