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SPA.V ·

Spanish Mountain Gold Appoints Troy Gill as Vice President, Exploration

Management Changes

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910-1111 Melville Street

Vancouver, British Columbia, V6E 3V6

Tel: 604.601.3651

Spanish Mountain Gold Appoints Troy Gill as Vice President, Exploration

Vancouver, B.C. , August 30, 2023 - Spanish Mountain Gold Ltd. (the " Company" or " Spanish

Mountain Gold ") ( TSX-V: SPA ) announce s today the appointment of Mr. Troy Gill as Vice

President, Exploration effective immediately.

Peter Mah, Spanish Mountain Gold 's President and CEO , comments, "We are excited to have

someone with Troy's extensive experience globally and with gold projects in British Columbia to

join the Spanish Mountain Gold team. He will help us expand our large resource base and help

the team advance our robust, economical Spanish Mountain Gold Project through further

development, permitting and ultimately towards construction."

Mr. Gill, Member of the Australian Institute of Geoscientists (MAIG), is a geologist with 30 years

of exploration and mining experience for a diverse range of commodities and styles of

mineralization in Australia, Canada, Mexico and Solomon Islands. He was a Senior Project

Geologist and Team Leader at Rio Tinto for 15 years. Since then, Mr. Gill has held roles of

Exploration Manager, VP Exploration and Director in Canadian junior exploration companies. For

the last three years Mr. Gill has focused on exploration in British Columbia including epithermal

gold and silver in the Nechako Plateau region south of Burns Lake and orogenic gold in the

northern Stikine terrane. Most recently as VP Exploration for Canagold Resources Ltd. he

delivered the updated mineral resource estimate of 1.1Moz Indicated gold for New Polaris Gold

Project. Other commodity experience includes porphyry copper, VMS base metal, kimberlites and

diamonds, komatiite nickel and iron ore. The range of his experience in exploration methods spans

from grassroots regional surficial geochemical sampling in regolith and glacial environments,

remote sensing and geophysical survey data interpretation, geological and structural mapping

through to various methods of resource definition drilling and geological modeling. Mr. Gill, MAIG,

meets the requirements of a Qualified Person as defined by National Instrument 43-101.

About Spanish Mountain Gold Ltd.

Spanish Mountain Gold is focused on advancing its 100% -owned Spanish Mountain Gold Project

in southern central British C olumbia. The Company is focused on trade-off assessments to

determine the targeted optimal production to advance its multimillion -ounce gold resource

towards a construction decision . The 2021 Pre -Feasibility Study demonstrate d the Project's

potential to be a mining operation with a production profile of greater than 150,000 gold ounces

per year and low All-In Sustaining Cost (AISC) of $801 per ounce over a 14-year mine life. 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:

Investor Relations

(604) 601-3651

[email protected]

www.spanishmountaingold.com

Neither 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 STATEMENTS:

Certain of the statements and information in this press release constitute "forward -looking statements" or

"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 forward -looking statements or information. The Company's forward -looking

statements and information are based on the assumptions, bel iefs, expectations and opinions of

management as of the date of this press release, and other than as required by applicable securities laws,

the Company does not assume any obligation to update forward -looking statements and 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 statements and information.