Spanish Mountain Gold Drills 1.16 g/t Gold Over 35.16 Metres and 0.98 g/t Gold Over 41.00 Metres Extending the Near Surface Higher-Grade Domain of the New Orca Fault .bwalignc { text-align: center; list-style-position: inside } .bwalignr { text-align: right; list-style-position: inside } .bwblockalignc { margin-left: auto; margin-right: auto } .bwblockalignl { margin-left: 0px; margin-right: auto } .bwcellpmargin { margin-bottom: 0px; margin-top: 0px } .bwleftsingle { border-left: solid black 1pt } .bwlistdisc { list-style-type: disc } .bwpadb3 { padding-bottom: 4px } .bwpadl0 { padding-left: 0px } .bwpadl3 { padding-left: 15px } .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 } .bwuline { text-decoration: underline } .bwvertalignb { vertical-align: bottom } .bwvertalignm { vertical-align: middle } .bwvertalignt { vertical-align: top } .bwwidth10 { width: 10% } .bwwidth100 { width: 100% } .bwwidth13 { width: 13% } .bwwidth23 { width: 23% } .bwwidth25 { width: 25% } .bwwidth35 { width: 35% } .bwwidth6 { width: 6% } 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 drill holes 25-DH-1294 and 25-DH-1296 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/20251117112427/en/ Figure 1: Drill Long Section Through Orca Fault Area (looking northeast) A total of 9,000 to 10,000 metres of exploration drilling is planned under the 2025 Fall Drill Program. Assays and geochemistry are pending on eleven (11) 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-1294 intersected 107.50 metres of 0.68 g/t gold from 64.00 to 171.50 metres, including 41.00 metres of 0.98 g/t gold and 30.50 metres of 0.79 g/t gold with a subset of 2.00 metres of 5.27 g/t gold 25-DH-1296 intersected 68.00 metres of 0.71 g/t gold from 36.00 to 104.00 metres, including 35.16 metres of 1.16 g/t gold from 65.00 to 104.00 metres with a subset of 8.16 metres of 3.61 g/t gold Key Findings: Current exploration drilling assay results continues to intersect significant higher-grade mineralization over 300 metres in strike length in the newly defined Orca Fault target (Figure 1). Main Deposit –Orca Fault area Drill hole 25-DH-1294 (see Table 1) was designed to confirm the new Orca Fault target and intersected higher-grade mineralization, approximately 70 metres southeast of drill hole 25-DH-1293 (see Figure 1), which intersected 102.00 metres of 0.64 g/t gold from 94.00 to 196.00 metres, including 20.25 metres of 1.28 g/t gold with a subset of 2.36 metres of 2.15 g/t gold (see November 3, 2025 news release). Drill hole 25-DH-1294 intersected a wide interval of mineralization from 64.00 to 171.50 metres grading 0.68 g/t gold that included 41.00 metres of 0.98 g/t gold. Drill hole 25-DH-1296 (Table 2) was similarly designed at 150 metres southeast from 25-DH-1294 and it also successfully intersected higher-grade mineralization, 68 metres grading 0.71 g/t gold, including 48.00 metres of 0.94 g/t gold with a subset of 35.16 metres of 1.16 g/t gold. The results from these two new exploration drill holes compare very favorably with the results of 25-DH-1281 and 25-DH-1282 (see April 21, 2025 news release) and 25-DH-1292 and 25-DH-1293 (see November 3, 2025 news release) proving that tighter exploration drill spacing at the preferred azimuth of 120-degrees is key to unlocking additional mineral potential in the Main deposit. These exploration drill holes are presented on a drill section (Figure 1) that shows the alignment of the higher-grade mineralization to the new Orca Fault target. It should be noted that these exploration drill holes are not included the latest Mineral Resource Estimate, meaning their impact on gold distribution has not been integrated into the deposit modeling (see July 3, 2025 news release). Table 1: Assay Results for 25-DH-1294 Drill hole From (m) To (m) Width (m) Gold (g/t) Apparent True Thickness 25-DH-1294 21.32 27.78 6.46 0.57 Note 3) 64.00 171.50 107.50 0.68 Note 3) including 64.00 139.00 75.00 0.65 Note 3) including 76.80 81.86 5.06 2.67 Note 3) including 76.00 117.00 41.00 0.98 Note 3) including 97.50 103.05 5.55 1.96 Note 3) including 99.66 102.55 2.89 2.70 Note 3) including 111.14 117.00 5.86 1.16 Note 3) including 141.00 171.50 30.50 0.79 Note 3) including 145.50 149.50 4.00 1.48 Note 3) including 169.00 171.00 2.00 5.27 Note 3) including 179.23 182.00 2.77 0.62 Note 3) including 195.00 196.35 1.35 1.