Mr. Peter Mah reports

SPANISH MOUNTAIN GOLD RECEIVES STUDY FUNDING FROM BC HYDRO

Spanish Mountain Gold Ltd. has entered an agreement with BC Hydro and will receive funding to conduct an assessment of power-efficient alternatives for the proposed Spanish Mountain gold project located in the Cariboo gold corridor near Likely, B.C., Canada. The work will focus on opportunities to optimize gold production, comminution power and floatation performance for the project.

Peter Mah, Spanish Mountain Gold's president, chief executive officer and director, comments: "We are thrilled to partner with BC Hydro in our relentless pursuit for better gold as the company strives to define the most attractive financial returns for the project and solutions to achieve the vision of the lowest-carbon-intensity gold mine in Canada. Our interests are aligned with all British Columbians to create shared benefits responsibly for future generations."

About Spanish Mountain Gold Ltd.

Spanish Mountain Gold is advancing its 100-per-cent-owned Spanish Mountain gold project toward construction of the next gold mine in the Cariboo gold corridor, British Columbia. The company's immediate focus is to conduct 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. The company is striving to be a leader in community and indigenous relations and will add to this leadership position 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, minimizes environmental impacts and creates meaningful sustainability for communities.

We seek Safe Harbor.