Spanish Mountain Gold Drills Multiple 100-Metre-Plus Intercepts Including 116 Metres Grading 0.60 g/t Gold Confirming Grade Continuity Along the Orca Fault Corridor

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Drill Hole 26-DH-1343

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26-DH-1343, collared over 100 m northeast of 25-DH-1307 (Figures 1 and 2), targeted the northeast continuity of the Orca Fault Corridor and intersected 145 m at 0.52 g/t from 56.00 m and 114 m at 0.62 g/t from 87.00 m gold (Table 1). The hole was successful in extending gold mineralization to the northeast and confirmed several northeast trending structural zones hosting gold mineralization within the Orca Fault Corridor. This emerging pattern, which appears to extend to 26-DH-1350 (Figure 1), suggests that the Orca Fault Corridor may define multiple discrete higher-grade mineralized zones, representing a potentially significant upside for mineralization expansion.

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Table 1: Assay Results for 26-DH-1343

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Drillhole ID

From

To

Width(m)*

Gold Grade (g/t Au)

26-DH-1343

56.00

201.00

145.00

0.52

including

87.00

201.00

114.00

0.62

including

87.00

159.30

72.30

0.65

including

108.00

136.00

28.00

0.97

including

171.50

201.00

29.50

0.77

including

174.60

192.45

17.85

0.96

including

174.60

178.45

3.85

2.61

*True thickness is unknown.

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Drill Hole 26-DH-1346

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26-DH-1346 was drilled 35 m southwest of the 25-DH-1282 (Figure 1, Figure 3) where the Orca Fault was initially defined. The hole intersected 167.50 m of 0.52 g/t gold from 19.0 m, including a higher-grade internal zone of 36.80 m at 1.14 g/t gold from 145.70 m with a subset of 11.10 m at 2.36 g/tgold from 167.00 m (Table 2).

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Table 2: Assay Results for 26-DH-1346

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Drillhole ID

From

To

Width(m)*

Gold Grade (g/t Au)

26-DH-1346

19.00

186.50

167.50

0.52

including

78.40

102.50

24.10

0.94

including

145.70

182.50

36.80

1.14

including

167.00

178.10

11.10

2.36

26-DH-1346

234.00

242.00

8.00

0.40

26-DH-1346

310.00

314.85

4.85

0.29

*True thickness is unknown.

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Drill Hole 26-DH-1350

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26-DH-1350, a southwest step-out and the southern expression of the structural trend that was identified in 26-DH-1343 (Figure 1) , intersected 243.32 m at 0.30 g/t gold from 5.68 m, including 115.32 m at 0.57 g/t from 5.68 m and a sub-interval of 106.64 m at 0.61 g/tgold from 14.36 m close to surface, with further higher-grade internal zones of 58.64 m at 0.87 g/t from 26.36 m and 5.0 m at 2.06 g/tgold from 80.00 m (Table 3). Together with 26-DH-1343, these results reinforce the interpretation that continuous, near surface faults are part of the Orca Fault corridor extending from the northeast to the southwest across the Main deposit. Further drilling and structural modelling are required to fully define this NE-oriented domain as a discrete sub-zone within the broader Orca Fault Corridor.

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Table 3: Assay Results for 26-DH-1350

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Drillhole ID

From

To

Width(m)*

Gold Grade (g/t Au)

26-DH-1350

5.68

249.00

243.32

0.30

including

5.68

121.00

115.32

0.57

including

14.36

121.00

106.64

0.61

including

26.36

85.00

58.64

0.87

including

36.30

85.00

48.70

0.91

including

36.30

42.33

6.03

1.47

including

45.58

52.82

7.24

1.15

including

55.16

69.00

13.84

0.91

including

80.00

85.00

5.00

2.06

*True thickness is unknown.

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Drill Hole 26-DH-1355

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26-DH-1355, is located approximately 430 m southwest of the 26-DH-1327 (Figure 1, Figure 4) returned 188 m at 0.47 g/t gold from 142.00 m, including 116.60 m at 0.60 g/t gold from 189.20 m, with a higher-grade internal zone of 38.38 m at 0.73 g/tgold from 199.62 m and a high-grade subset of 16.30 m at 1.11 g/tgold from 289.50 m (Table 4). This hole confirms the continuity of the northeast-southwest trending Orca Fault Corridor over approximately 430 m and within the current 2025 PEA resource pit. Potential for this structure and associated gold mineralization to extend to the southwest of the current resource pit is high and will be tested as part of the 2026 FS Drill Program.

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Table 4: Assay Results for 26-DH-1355

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Drillhole ID

From

To

Width(m)*

Gold Grade (g/t Au)

26-DH-1355

19.00

33.20

14.20

0.78

including

28.00

33.20

5.20

1.38

26-DH-1355

142.00

330.00

188.00

0.47

including

189.20

305.80

116.60

0.60

including

199.62

238.00

38.38

0.73

including

199.62

213.00

13.38

0.86

including

219.90

238.00

18.10

0.74

including

289.50

305.80

16.30

1.11

*True thickness is unknown.

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Table 5: Assay Results for Drill Holes 26-DH-1338, 1339, 1340, 1341, 1342, 1344, 1347, 1348, 1349, 1351, 1352, 1353, 1354, 1356, 1357, and 1358,

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Highlighting High-Grade Intervals (>1 g/t Au).

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Drill Hole

From (m)

To (m)

Width

(m)

Gold (g/t)

26-DH-1338

36.09

63.87

26.77

0.28

including

53.20

63.87

10.67

0.36

26-DH-1338

101.26

118.70

17.44

0.20

including

101.26

106.00

4.74

0.31

including

113.80

118.70

4.90

0.34

26-DH-1338

149.86

168.00

18.14

0.33

including

166.50

168.00

1.50

1.91

26-DH-1338

197.00

341.43

144.43

0.37

including

197.00

313.00

116.00

0.44

including

197.00

260.00

63.00

0.52

including

197.00

215.76

18.76

0.94

including

197.00

207.50

10.50

1.43

including

281.00

313.00

32.00

0.51

including

300.61

313.00

12.39

1.11

including

311.26

311.76

0.50

21.53

including

330.15

331.30

1.15

0.84

26-DH-1339

25.00

107.10

82.10

0.23

including

25.00

52.59

27.59

0.27

including

25.00

30.96

5.96

0.28

including

36.00

40.14

4.14

0.28

including

50.28

52.59

2.31

1.12

including

75.76

79.77

4.01

0.26

including

93.83

107.10

13.27

0.56

26-DH-1339

118.00

120.00

2.00

0.55

26-DH-1339

176.42

176.92

0.50

4.53

26-DH-1339

223.00

244.69

21.69

0.54

including

223.00

223.50

0.50

2.33

including

232.17

244.69

12.52

0.81

26-DH-1339

257.35

262.00

4.65

0.37

26-DH-1339

280.88

283.00

2.12

0.37

26-DH-1339

336.00

338.00

2.00

0.41

26-DH-1339

362.50

369.69

7.19

0.18

including

362.50

365.04

2.54

0.22

including

368.69

369.69

1.00

0.63

26-DH-1340

4.50

147.00

142.50

0.44

including

4.50

45.30

40.80

0.51

including

27.45

31.00

3.55

2.11

including

61.00

147.00

86.00

0.47

including

61.00

100.80

39.80

0.70

including

91.20

100.80

9.60

1.43

including

112.00

114.00

2.00

1.59

26-DH-1340

191.00

206.35

15.35

0.62

26-DH-1340

261.00

371.00

110.00

0.23

including

261.00

327.00

66.00

0.34

including

280.40

296.00

15.60

0.52

including

292.00

298.50

6.50

0.96

including

309.00

321.51

12.51

0.68

including

309.00

311.00

2.00

2.84

26-DH-1341

3.17

14.00

10.83

0.20

26-DH-1341

56.26

115.00

58.74

0.29

including

65.75

66.85

1.10

1.42

including

88.00

90.00

2.00

1.19

26-DH-1341

104.46

115.00

10.54

0.51

26-DH-1341

149.00

155.00

6.00

0.36

26-DH-1341

192.40

321.51

129.11

0.31

including

192.40

210.00

17.60

0.33

including

198.55

204.00

5.45

0.54

including

231.00

269.00

38.00

0.52

including

234.00

245.46

11.46

1.19

including

290.20

329.00

38.80

0.35

including

309.00

321.51

12.51

0.68

26-DH-1342

12.00

329.00

317.00

0.22

including

48.00

51.00

3.00

0.33

including

67.50

85.00

17.50

0.43

including

104.00

131.50

27.50

0.36

including

104.00

108.00

2.50

1.99

including

171.50

201.00

29.50

0.77

including

174.60

192.45

17.85

0.96

including

174.60

178.45

3.85

2.61

including

204.00

210.00

6.00

0.83

including

238.20

249.00

10.80

1.13

including

261.50

272.00

10.50

0.57

26-DH-1344

59.55

235.70

176.15

0.35

including

59.55

179.95

120.40

0.42

including

60.50

74.00

13.50

0.66

including

141.00

147.50

6.50

2.28

26-DH-1347

17.60

327.00

309.40

0.34

including

74.00

279.00

205.00

0.44

including

74.00

184.00

110.00

0.54

including

130.20

184.00

53.80

0.80

including

151.40

172.50

21.10

1.47

including

165.00

172.50

7.50

3.37

including

217.40

219.30

1.90

6.26

including

251.40

279.00

27.60

0.50

including

251.40

254.00

2.60

1.54

26-DH-1348

56.00

344.10

288.10

0.31

including

56.00

196.35

140.35

0.43

including

56.00

119.00

63.00

0.47

including

65.80

84.00

18.20

0.91

including

65.80

71.20

5.40

1.58

including

136.00

196.35

60.35

0.50

including

140.40

150.00

9.60

1.66

26-DH-1349

193.00

355.00

162.00

0.31

including

193.00

199.00

6.00

0.70

including

221.00

295.00

74.00

0.42

including

232.20

263.50

31.30

0.48

including

258.00

263.50

5.50

0.97

including

325.00

335.00

10.00

0.78

26-DH-1351

15.00

20.60

5.60

0.20

26-DH-1351

39.00

229.00

190.00

0.31

including

81.50

86.00

4.50

1.14

including

118.40

135.00

16.60

1.23

including

118.40

122.00

3.60

4.79

including

225.60

229.00

3.40

1.23

26-DH-1351

296.00

300.50

4.50

0.62

26-DH-1351

330.30

335.10

4.80

0.89

26-DH-1352

29.00

143.00

114.00

0.34

including

29.00

45.00

16.00

0.56

including

58.00

60.00

2.00

2.28

including

84.00

110.00

26.00

0.72

including

86.00

98.10

12.10

1.09

26-DH-1353

34.00

231.08

197.08

0.38

including

55.50

102.00

46.50

0.42

including

55.50

70.00

14.50

0.69

including

93.00

98.00

5.00

1.28

including

139.50

231.08

91.58

0.56

including

151.00

180.50

29.50

1.08

26-DH-1354

11.80

25.40

13.60

0.25

26-DH-1354

53.00

103.80

50.80

0.39

including

92.25

103.80

11.55

0.86

26-DH-1354

196.05

247.00

50.95

0.49

including

196.05

227.00

30.95

0.69

including

205.00

221.00

16.00

1.02

26-DH-1354

317.65

319.33

1.68

2.68

26-DH-1356

6.00

353.10

347.10

0.22

including

14.35

93.50

79.15

0.24

including

124.00

147.00

23.00

0.30

including

185.00

353.10

168.10

0.27

including

228.00

253.60

25.60

0.66

including

247.50

253.60

6.10

0.95

including

344.00

353.10

9.10

1.17

26-DH-1357

3.88

47.00

43.12

0.23

including

21.94

47.00

25.06

0.29

26-DH-1357

209.29

227.00

17.71

0.20

26-DH-1357

316.00

320.75

4.75

0.39

26-DH-1358

30.00

48.80

18.80

0.28

26-DH-1358

141.00

316.00

175.00

0.34

including

141.00

144.00

3.00

1.40

including

175.00

316.00

141.00

0.38

including

195.20

210.00

14.80

0.81

including

198.00

204.10

6.10

1.50

including

232.45

259.00

26.55

0.50

including

232.45

233.80

1.35

2.11

including

251.05

256.40

5.35

1.32

including

269.50

316.00

46.50

0.45

Note: 26-DH-1345 was abandoned at 109 m prior to reaching its target depth and returned no significant intervals above the 0.15 g/t Au cut-off grade; it is therefore excluded from the assay table above.

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Notes for all Tables:

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Notes for Table 1, 2, 3, 4, and 5:

1)

Reported intersections are calculated using a 0.15 g/t Au cut-off grade. With maximum inclusion of 10 consecutive samples below cut-off grade.

2)

The complete assay table is available on the Company’s website

3)

True thickness of mineralization is unknown as the Project is still at the exploration stage

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Drill Core Processing, Data Verification and Quality Assurance – Quality Control Program (QAQC)

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Once received from the drill and processed, all drill core samples were sawn in half, labeled, and bagged. The remaining half of the drill core was securely stored on-site. Numbered security tags were applied to sample shipments to ensure chain of custody compliance. The Company inserts quality control (QC) samples at regular intervals, including blanks and reference materials, for all sample shipments to monitor laboratory performance. Standards, blanks, preparation and field duplicates account for a minimum of 20% of the samples in addition to the laboratory’s internal quality assurance programs. The QAQC program was overseen by the Company’s Qualified Person, Julian Manco, P.Geo, Director of Exploration (as described below).

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The data verification process involved a multi-step approach to ensure accuracy and integrity. This included a detailed quality control (QC) analysis of the data, which was performed using both internal and external platforms, such as the MxDeposit™ software. These QC checks involved the analysis of certified reference materials (CRMs), blanks, and duplicates to confirm the reliability of the assay results. In addition, a field inspection of the specific drill intervals mentioned in this release has been conducted to directly observe the geological features and verify the nature of the results presented.

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Drill core samples were submitted to MSALABS’s analytical facility in Prince George, British Columbia, for sample preparation and PhotonAssay™ analysis. The MSALABS facilities are accredited to the International Standards ISO/IEC 17025 and ISO 9001 standard for gold and multi-element assays, with all analytical methods incorporating quality control materials at defined frequencies and established data acceptance criteria. MSALABS Inc. is independent of the Company.

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PhotonAssay™

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The PhotonAssay™ method utilizes gamma ray analysis for gold detection using the Chrysos PhotonAssay™ instrument (PA1408X). This non-destructive, fully automated technique offers high accuracy for analyzing ores and pulps. Sample preparation begins with drying and crushing up to 1 kg of material to achieve at least 70% passing through a 2-millimetre (mm) sieve. The sample is then riffle split to obtain a suitable aliquot for 2 testing cycles (MSALABS Method CPA-Au1). The PhotonAssay™ instrument bombards 400- to 600-gram samples contained in sealed containers with gamma rays. Each sample is accompanied by a reference disc traceable to a Certified Reference Material (CRM). The method offers a gold detection range from 0.015 ppm (lower limit) to 10,000 ppm (upper limit).

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