Spanish Mountain Gold Reports Near Surface High Grade Gold Intercepts in the K - Zone
Spanish Mountain Gold Ltd.
910-1111 Melville Street
Vancouver, British Columbia, V6E 3V6
Tel: 604.601.3651
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Spanish Mountain Gold Reports Near Surface High Grade Gold Intercepts
in the K - Zone
Vancouver, B.C., April 24, 2025 - Spanish Mountain Gold Ltd. (the "Company" or "Spanish
Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to report high grade
gold intercepts and the highest grade encountered to date in exploration history at the
Spanish Mountain Gold project , which is located in the Cariboo Gold Corridor, British
Columbia, Canada. The 10,000 m, 2025 winter exploration diamond drill program ("2025
Winter Drill Program") is comprised of 31 holes and 73% complete.
Highlights:
High-Grade Gold Intercepts – K Zone (See Figures 1, 2, and Table 1):
• Hole 25 -DH-1286 intersected 139.00 m grading 4.18 g/t Au from 56.00 m
including, from 163.00 m, grades of 719.26 g/t Au over 0.75 m, and from 165.10
m, 156.80 g/t Au over 3.50 m
• Hole 25 -DH-1284 intersected 55.70 m grading 0.41 g/t Au from 126.00 m
including, from 172.00 m, 9.70 m grading 1.83 g/t Au and 1.00 m grading 12.13
g/t Au
• Hole 25 -DH-1285 intersected 39.00 m grading 0.99 g/t Au from 113.00 m
including 1.00 m grading 34.59 g/t Au
Visible gold (VG) was observed in multiple drill holes, confirming the high-grade nature of
the K Zone Target (See Figure 3)
Julian Manco , Spanish Mountain Gold's Director of Exploration commented, "These
exceptional results validate our new geological model , extend mineralization and
highlight the significant potential for more high-grade mineralization within our project
area. The high grades encountered in hole 25 -DH-1286 are truly remarkable and
demonstrate an extraordinary upside potential for the Spanish Mountain Gold project."
Peter Mah, Spanish Mountain Gold's President, CEO and Director commented, "We are
thrilled to take a major leap forward unlocking near surface high-grade gold intercepts
that support the growing understanding of our high-quality deposit and signal exciting
new possibilities for high grade open pit gold discovery within 200 m of surface"
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Figure 1 – Plan View, K-Zone - 2025 Winter Drill Program
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Figure 2 – Long Section showing the K-Zone.
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Figure 3 – Representative specimens of the visible gold VG found in the K-Zone Target. Inset A
and a. 25-DH-1286 Drill core photo of quartz + VG vein hosted in sericite-altered tuff. Inset B.
25-DH-1285 Drill core photo of quartz + VG hosted in mafic tuff.
Table 1: 2025 Winter Drill Program – Summarized Gold Assay Results
Drillhole ID From To Width(m) Gold Grade (g/t
Au)
25-DH-1284 126.00 181.70 55.70 0.41
25-DH-1284 172.00 181.70 9.70 1.83
including 172.00 173.00 1.00 12.13
including 180.20 181.70 1.50 3.23
25-DH-1285 113.00 152.00 39.00 0.99
including 113.00 114.00 1.00 34.59
25-DH-1285 173.35 174.74 1.39 1.02
25-DH-1286 56.00 195.00 139.00 4.18
including 163.00 166.50 3.50 156.28
including 165.10 166.50 0.75 719.26
25-DH-1287 68.00 97.00 29.00 0.26
including 75.00 78.00 3.00 0.24
including 94.00 97.00 3.00 1.64
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Notes:
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
Table 2: Drill Hole Collar Location and hole depths
HOLE-ID LOCATION ‘X’ LOCATION
‘Y’
LOCATION
‘Z’ LENGTH Azimuth Dip
Easting Northing Elevation
25-DH-1284 604177 5827345 1296 247.75 120 60
25-DH-1285 604174 5827345 1296 240.00 30 65
25-DH-1286 603953 5827695 1192 222.00 120 65.2
25-DH-1287 603953 5827695 1192 114.93 215 75
Abbreviations: metres = m, grams per tonne = g/t, gold = Au
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
control (QC) 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 15%
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).
Drill core samples were submitted to MSALABS’ 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 - 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.
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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)
Four-cycle radiation testing to identify and calibrate potential variability in gold results with variable
radiation intensity.
To effectively manage the nugget effect on high-grade gold samples MSALABS tested samples to
"extinction" (CPA-Au1E method). This approach divides samples into multiple splits, analyzes each
separately using PhotonAssayTM, and then calculates a weighted average of the results. By testing
various portions of the sample independently and combining their values proportionally, this method
provides significantly more representative gold values than traditional single-split analysis for samples
with a large nugget effect.
Multi-Elemental Analysis
For the 2025 drilling campaign Spanish Mountain Gold used IMS-230 method to provide multi-element
determination using a four-acid digestion followed by ICP-OES and ICP-MS analysis.
Key Process Steps:
Sample Preparation: Samples are dried and ground to specific criteria (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.
Julian Manco, M.Sc., P.Geo., has verified the data disclosed in this news release. 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, Mr. Manco, conducted a field inspection of the specific drill intervals mentioned in this
release to directly observe the geological features and verified the nature of the results presented.
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 has approved the contents
of this news release.
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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 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.
For more information, contact:
Peter Mah
(604) 601-3651
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 st ating 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 winter drill program, and the results thereof; and the delivery of a maiden reso urce for
the Phoenix Target, and the timing and 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.