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SPA.V ·

Spanish Mountain Gold Engages Laura Stein

Corporate Updates

Spanish Mountain Gold Engages Laura Stein

VANCOUVER, British Columbia--(BUSINESS WIRE)--January 23, 2026--Spanish Mountain

Gold Ltd. (the "Company" or "Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y)

(OTCQB: SPAUF) is pleased to announce that it has engaged the services of Laura Stein of

New York for shareholder and investor communications. Laura has been providing

communication services to the mining industry for over 30 years. Laura will communicate

directly with existing shareholders, analysts and prospective investors primarily through email,

social media and conference participation. Laura will receive 250,000 options under the

Company’s Share Option Plan. The options are priced at $.22 for a term of 5 years and will vest

25% after 3 months, 25% after six months, 25% after twelve months, and 25% after 18 months.

In addition, the Company will pay a portion of Ms. Stein’s expenses for travel, conference fees,

office overhead, and other third party costs in connection with her activities related to Spanish

Mountain Gold Ltd.

Laura Stein and the Company are arm's-length parties, and Laura Stein does not hold any shares

in the issued and outstanding capital of the Company. The agreement with Laura Stein is subject

to TSXV approval and will not commence until final approval has been received.

About Spanish Mountain Gold Ltd.

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

Project (Project) towards construction of 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 or before 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:

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 to make a construction decision for the Project.

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 information with respect to, the potential to extend mineralization within

the near-surface environment; the potential to expand resources and to find higher-grade

mineralization at depth; the timing, size and budget of a drill program, and the results thereof.

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.

Contacts

For more information, contact:

Peter Mah

(604) 601-3651

[email protected]