Mr. Peter Mah reports

SPANISH MOUNTAIN GOLD SIGNS MEMORANDUM OF UNDERSTANDING WITH METSO, CANADA INC.

Spanish Mountain Gold Ltd. has signed a memorandum of understanding with Metso Canada Inc. as it moves closer to advancing its Spanish Mountain gold project toward feasibility and permitting. The SMG project is located in the Cariboo district corridor in British Columbia, Canada.

President and chief executive officer Peter Mah stated: "Spanish Mountain Gold moves ahead with the signing of a MoU with Metso Canada Inc. regarding the collaboration and support for the proposed process plant and tailings dewatering facilities. This collaboration includes trade-off studies, as well as support in equipment selection and supply of process solutions. Subject to the execution of definitive agreements, Metso may also provide customary performance commitments for its equipment solutions as SMG advances the project towards feasibility and ultimately a build decision. If SMG selects Metso's equipment solutions during the anticipated feasibility phase towards a build decision, SMG would be targeting up to $50-million of potential original equipment manufacturer financing, which could be backed by a state export credit agency, subject to lender approvals and execution of definitive agreements. This marks a key milestone for the company as it prepares for the next stages of development."

Spanish Mountain Gold's sustainability strategy, the relentless pursuit for better gold, aligns extremely well with Metso's industry-leading portfolio of equipment and innovative technology under the Metso Plus offering.

About Spanish Mountain Gold Ltd.

Spanish Mountain is focused on advancing its 100-per-cent-owned Spanish Mountain gold project toward its goal to build the next gold mine in the Cariboo gold corridor, British Columbia. On Aug. 18, 2025, the company filed a National Instrument 43-101 technical report on SEDAR+ that sets out the project's derisked and optimized preliminary economic assessment with an updated mineral resource estimate. It will continue to advance the project to position the company to make a construction decision in 2027. It is 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.

We seek Safe Harbor.