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South Pacific Metals Corp
Symbol SPMC
Shares Issued 38,728,920
Close 2025-02-18 C$ 0.51
Market Cap C$ 19,751,749
Recent Sedar Documents

South Pacific to start exploration in Papua New Guinea

2025-02-18 20:34 ET - News Release

Mr. Michael Murphy reports

SOUTH PACIFIC METALS ANNOUNCES COMMENCEMENT OF 2025 GOLD-COPPER EXPLORATION PROGRAMS FOLLOWING SUCCESSFUL FINANCING

Following the successful closing of South Pacific Metals Corp.'s recent $6.3-million financing, the company is now set to proceed with extensive exploration programs across its 3,100-square-kilometre portfolio of four gold-copper projects in Papua New Guinea.

Upcoming exploration activities at May River, Osena, Anga and Kili Teke projects will include systematic sampling, trenching and drilling to further define and expand the mineral potential of each property. These programs are designed to build on existing geological data, confirm high-priority targets, and plans to drill multiple targets and advance the projects toward potential resource delineation.

"We are excited and ready to move on the next phase of our exploration strategy with full financial backing," said Michael Murphy, executive chair of South Pacific Metals. "With this funding secured, we can now aggressively advance our projects. While we are continuing with surface exploration programs to identify additional targets, next steps will involve drilling select targets and focusing on high-potential areas confirmed last year. Drill programs have been designed to capitalize on known project mineralization and to test new high-priority zones."

Investor relations

The company also announces that, subject to the acceptance of the TSX Venture Exchange, it has engaged Danayi Capital Corp., an arm's-length service provider, to provide certain investor relations and digital marketing services to the company. Danayi is a marketing, advertising and public awareness firm based out of Vancouver, B.C., specializing in the mining and metals sector.

The services are to be provided pursuant to a digital marketing agreement dated Feb. 18, 2025, and will include digital media, marketing strategies and advertising for a fee of $50,000 (U.S.) for one trial month. Upon conclusion of the trial month, the agreement is extendable at the company's option.

Danayi has no current interest, directly or indirectly, in the company nor its securities, and has no right or intent to acquire such an interest while the services are being performed.

About South Pacific Metals Corp.

South Pacific Metals 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's active drilling and gold producing operations to the northeast and southwest, the company'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. The company's common shares are listed on the TSX Venture Exchange, the OTCQB marketplace and Frankfurt Stock Exchange.

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