Spanish Mountain Gold Drills 0.82 g/t Gold Over 139.82 Metres and a Second, Deeper High-Grade Intercept in the Same Drill Hole of 33.54 Metres Grading 2.19 g/t Gold .bwalignc { text-align: center; list-style-position: inside } .bwalignr { text-align: right; list-style-position: inside } .bwblockalignl { margin-left: 0px; margin-right: auto } .bwcellpmargin { margin-bottom: 0px; margin-top: 0px } .bwleftsingle { border-left: solid black 1pt } .bwlistcircle { list-style-type: circle } .bwlistdisc { list-style-type: disc } .bwpadb3 { padding-bottom: 4px } .bwpadl0 { padding-left: 0px } .bwpadr0 { padding-right: 0px } .bwrightsingle { border-right: solid black 1pt } .bwsinglebottom { border-bottom: solid black 1pt } .bwtablemarginb { margin-bottom: 10px } .bwtopsingle { border-top: solid black 1pt } .bwvertalignb { vertical-align: bottom } .bwvertalignt { vertical-align: top } .bwwidth10 { width: 10% } .bwwidth100 { width: 100% } .bwwidth12 { width: 12% } .bwwidth13 { width: 13% } .bwwidth14 { width: 14% } .bwwidth15 { width: 15% } .bwwidth33 { width: 33% } .bwwidth44 { width: 44% } .bwwidth5 { width: 5% } .bwwidth6 { width: 6% } .bwwidth7 { width: 7% } .bwwidth8 { width: 8% } .bwwidth9 { width: 9% } Spanish Mountain Gold Ltd. (the " Company " or " Spanish Mountain Gold ") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to provide additional assay results from exploration drill holes 25-DH-1297, 25-DH-1298, and 25-DH-1299 that were completed as part of its 2025 Fall Diamond Drill program (“ 2025 Fall Drill Program ”) for the Spanish Mountain Gold (“ SMG ”) project, which is located in the Cariboo Gold Corridor, British Columbia, Canada. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251201261476/en/ Figure 1: Drill Long Section Through Orca Fault Area (looking northeast); section line A-A’ (see Figure 3) The company has completed approximately 6,947 m of drilling has been completed to date of the 9,000 to 10,000 metres (“ m ”) of exploration drilling planned under the 2025 Fall Drill Program. Assays and geochemistry are pending on fifteen (15) additional drill holes completed on the newly defined Orca Fault area, and from five (5) completed drill holes on the A12 target. Highlights: 25-DH-1299 intersected two key intervals: from 139.82 m of 0.82 g/t gold between 48.18 to 188.00 m, including 34.60 m of 2.17 g/t gold with a subset of 7.60 m of 7.09 g/t gold from 284.00 to 329.54 m of 45.54 m of 1.67 g/t gold including 33.54 m of 2.19 g/t gold with a subset of 13.53 m of 4.79 g/t gold 25-DH-1297 intersected 50.84 m of 0.66 g/t gold from 44.76 to 95.60 m, including 19.41 m of 1.12 g/t gold with a subset of 3.59 m of 2.30 g/t gold Key Findings: Current exploration drilling assay results continues to intersect significant higher-grade mineralization over 300 m in strike length in the newly defined Orca Fault target (Figure 1 and 2) and the continuity can now be traced across two parallel, adjacent drill sections. The deep intersection in drill hole 25-DH-1299, grading 1.67 g/t gold over 45.54 m, which is below the constraining open pit shell for the 2025 Mineral Resource Estimate (“ MRE ”), confirms historical drilling that there is higher-grade mineralization at depth and highlights that additional exploration drilling is required to quantify the deeper mineral potential. Main Deposit – Orca Fault area Drill hole 25-DH-1299 (see Table 3) was designed to confirm the new Orca Fault target and intersected higher-grade mineralization (Figure 1), approximately 75 m south of drill hole 25-DH-1294 (Figure 3), which is on the next drill section line immediately to the north. It should be noted that 25-DH-1299 has two key intersections, the first interval near surface from 48.18 to 188.00 m of 0.82 g/t gold over 139.82 m, including 34.60 m of 2.17 g/t gold with a subset of 7.60 m of 7.09 g/t gold. The second interval came near the base of constraining open pit shell for the 2025 Mineral Resource Estimate (see July 3, 2025 news release) from 284.00 to 329.54 m, grading 1.67 g/t gold over 45.54 m, including 33.54 m of 2.19 g/t gold with a subset of 13.53 m of 4.79 g/t gold. This deeper intercept highlights the mineral potential at depth that will require additional drilling to further delineate, but investors should be cautioned it is not guaranteed that additional drilling will result in conversion of this area into the mineral resource estimate. Drill hole 25-DH-1297 (Table 1) was designed at 45 m south from 25-DH-1294 (Figure 3) and it also successfully intersected higher-grade mineralization, 50.84 m grading 0.66 g/t gold from 44.76 to 95.60 m including 19.41 m of 1.12 g/t gold with a subset of 3.59 m of 2.30 g/t gold. Drill hole 25-DH-1298 (Table 2) was designed at 50 m southeast of 25-DH-1296 (Figure 3) and it intersected per plan 34.77 m of 0.48 g/t gold from 58.00 to 92.77 m (Figure 2). The results from these three new exploration drill holes compare very