Mr. Timo Jauristo reports

SOUTH PACIFIC METALS ADDS SECOND DRILL RIG TO ONTENU CAMPAIGN

South Pacific Metals Corp. will add a second drill rig to accelerate testing of multiple targets in the Ontenu project area, part of the wider Osena project in the Kainantu district of Papua New Guinea, on the southwestern border of K92 Mining Inc.'s Kainantu gold mine property. The rig is expected to arrive within two weeks.

Exploration update:

• Second drill rig to target initially the Onki fault area, where previous surface results (see news releases dated Nov. 11, 2025, and Oct. 6, 2025) from multiple high-grade structures have returned rock chip samples up to:
  • 21.2 per cent copper, 214 grams per tonne silver and 0.41 g/t gold;
  • 18.1 per cent Cu, 310 g/t Ag and 0.32 g/t Au;
  • 12.4 per cent Cu, 131 g/t Ag and 1.21 g/t Au;
  • 0.2 per cent Cu, 32 g/t Ag and 8.6 g/t Au.
• Drilling is continuing with company-owned rig at Ontenu NE (southern area);
• Drill targeting is under way at multiple structures and zones within the five-by-three-kilometre Ontenu project area;
• Aiming for 5,000 m of drilling to be completed across multiple targets in 2026.

"Ontenu, and especially Ontenu NE, has revealed multiple targets from surface exploration across a number of mineralized structures and zones over a broad area," said Timo Jauristo, chief executive officer of the company. "In order to accelerate testing of these high-grade epithermal targets, the company is adding a second drill rig to the campaign. Our challenge is prioritizing the many targets. The observed gold and base metal association is characteristic of intermediate sulphidation epithermal deposits, similar to those being mined by K92 Mining to the north of Ontenu."

Addition of second drill rig at Onki fault area, Ontenu NE

The company has contracted an experienced Papua New Guinea-based drilling company to commence drilling initially at the Onki fault area in Ontenu NE. This rig will operate alongside the company's existing rig already drilling in the Ontenu NE project area. Drilling and targeting are being prioritized at both the Onki fault and the southern area at Ontenu NE.

The Onki fault area at Ontenu NE was discovered by South Pacific in 2025 by soil sampling and subsequent geological mapping and rock chip sampling. Multiple structures with high-grade copper and gold at surface have been identified. The Onki fault consists of a mineralized fault zone striking north/northeast-south/southwest and various north-south splay structures also hosting high-grade rock chip samples. The main fault is up to five metres wide, which, when combined with closely spaced splay structures, indicates target zones of five to 20 m wide.

About the Osena regional project

Covering 738 square kilometres of strategic ground, the Osena project is located southwest of and adjacent to K92 Mining's tenements that host the Kainantu gold mine. Priority prospects include Ontenu, a large-scale cluster of intrusive gold-copper epithermal and porphyry and targets extending over five kilometres by three kilometres. The Ontenu prospect is one of many occurring within a mineralized corridor that extends more than 40 km northeast across the Kainantu district.

About South Pacific Metals Corp.

South Pacific is an emerging gold-copper exploration company operating in the heart of Papua New Guinea's proven gold and copper production corridors. With an expansive 3,100-square-kilometre land package and four transformative gold-copper projects contiguous with major producers K92 Mining, PanAust and neighbouring Barrick/Zijin, new leadership and experienced in-country teams are prioritizing thoughtful and rigorous technical programs focused on boots-on-the-ground exploration to prioritize discovery across its portfolio projects: Anga, Osena, Kili Teke and May River.

Immediately flanking K92 Mining's active drilling and gold producing operations to the northeast and southwest, South Pacific's Anga and Osena projects are located within the high-grade Kainantu gold district -- each having the potential to host similar-style lode-gold and porphyry copper-gold mineralization as that present within K92's tenements. Kili Teke is an advanced exploration project situated only 40 km from the world-class Porgera gold mine and hosts an existing inferred mineral resource with multiple opportunities for expansion and further discovery. The May River project is located adjacent to the world-renowned Frieda River copper-gold project, with historical drilling indicating potential for a significant, untapped-gold mineralized system. South Pacific common shares are listed on the TSX Venture Exchange, the OTCQB marketplace and the Frankfurt Stock Exchange.

Qualified person

The scientific and technical information disclosed in this release has been compiled by company geologists and consultants and reviewed and approved by Darren Holden, BSc (honours) (geology), PhD, FAusIMM, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

Dr. Holden is a technical adviser to the company.

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