Spanish Mountain Gold Presents Project Update to the Chief and Council of Xatśūll First Nation and Signs Engagement Protocol Agreement
1120-1095 West Pender Street
Vancouver, British Columbia, V6E 2M6
Tel: 604.601.3651
November 8, 2021
Spanish Mountain Gold Presents Project Update to the Chief and Council of
Xatśūll First Nation and Signs Engagement Protocol Agreement
Vancouver, BC - Spanish Mountain Gold Ltd. (the “Company”) (TSX-V: SPA) wishes to thank the Chief
and Council as well as other members of Xatśūll First Nation (“XFN”) for meeting with management of
the Company to learn about the Spanish Mountain Gold Project (the "Project") located near Likely, BC.
During the meeting on October 14, 2021, management presented the Company’s plans for the proposed
development of the Project’s resource and the comprehensive strategy to manage and mitigate the
potential environmental impacts. Management also addressed various concerns raised by the leadership
team of XFN regarding the proposed construction, operations and closure of a gold mine in their
traditional territory. The meeting was immediately followed by the execution of the Agreement for
Engagement Protocol (the “Agreement”) with Xatśūll First Nation.
Engagement Protocol Agreement
The Agreement acknowledges that Xatśūll First Nation has existing rights protected under s.35(1) of the
Constitution Act, 1982 and interests within its Traditional Territory, which includes the area occupied by
the Project. The Company and XFN will work together in a spirit of cooperation, mutually respect each
other’s values to establish a long term, mutually beneficial relationship based on honesty, trust, respect
and understanding. General procedures will be established to guide the relationship whereby
information regarding the project activities may be exchanged, and issues of concern can be raised and
addressed.
The signing of the Agreement by XFN and the Company marks the completion of the first phase of a two-
phase process to negotiat e a comprehensive Relationship Agreement between the parti es. The second
phase negotiations will proceed immediately and are set to be completed within 90 days based on the
timeline established by the Agreement.
Relationship Agreement
Once completed, the comprehensive Relationship Agreement will guide the relationship between XFN
and the Company and the participation of XFN in the Project as the Company advances the Project
through the environmental assessment/ p ermitting process and later through the construction,
operation, and closure of the mining project.
Under the Relationship Agreement, XFN and the Company will form a joint advisory committee to
facilitate ongoing engagement in respect of a wide range of project activities.
Larry Yau, Chief Executive Officer, commented, “I would like to thank the leadership team of Xatśūll First
Nation for their diligence and professionalism, which allows us to expeditiously formalize the
engagement protocol for cooperati on going forward. We will now work diligently to complete the
Relationship Agreement providing a clear and respectful framework to jointly advance our Project for the
benefit of XFN and our shareholders.”
About Spanish Mountain Gold
Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain gold project in
southern central British Columbia. The Company is simultaneously pursuing the dual objectives of
delivering critical project milestones for the multi-million ounce Mineral Reserve and further expanding
the overall Mineral Resource. The Pre-Feasibility Study (2021) demonstrates the Project’s potential to be
a mining operation with a robust production profile (>150,000 oz per year) and profitability ( AISC $801
per oz ) over a mine life of 14 years. Details on the Project and the Company are available on
www.sedar.com and on the Company’s website: www.spanishmountaingold.com.
On Behalf of the Board,
SPANISH MOUNTAIN GOLD LTD.
Larry Yau
Chief Executive Officer
Inquiries:
Spanish Mountain Gold Ltd.
Phone: (604) 601-3651
E-mail: [email protected]
Website: www.spanishmountaingold.com
FORWARD LOOKING STATEMENTS: Certain of the statements and information in th is 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 f uture 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 certa in 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 informati on.
The Company's forward -looking statements and information are based on the assumptions, beliefs, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accept s responsibility for the adequacy or accuracy of this release