202619 releases
Spanish Mountain Gold Expands Near Surface Mineralization Intersecting 295.50 Metres Of 0.54 g/t Gold Including A Higher Grade Interval Of 107.00 Meters Of 0.93 g/t Gold As Part Of Its Feasibility Study Drill Program
Assay results from 28 diamond drill holes at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia, included hole 26-DH-1414 with 295.5 m of 0.54 g/t gold from 41.0 m, including 107.0 m of 0.93 g/t gold from 170.0 m; 26-DH-1408 returned 152.65 m of 0.52 g/t gold from 8.85 m, and 26-DH-1391 returned 340.00 m of 0.36 g/t gold from 14.00 m. About 33,353 m of the planned 60,000 m 2026 Feasibility Drill Program is complete, with results pending for 25 holes and the feasibility study targeted for H1 2028.
Drill resultsSpanish Mountain Gold Announces 2026 AGM Voting Results
Shareholders elected directors Brent Bergeron, Garnet Dawson, Lembit Janes, Richard Orazietti and George Peter Mah at Spanish Mountain Gold's annual general meeting held in Vancouver, British Columbia on October 1, 2026, and approved the re-appointment of BDO Canada LLP as auditor. A total of 123,703,643 common shares were voted, representing 23.41% of outstanding common shares as of the record date.
CorporateSpanish Mountain Gold Reports on Environmental Assessment Status and Provides Update on First Nations Engagement
The Spanish Mountain Gold Project in British Columbia remains on track for submission of a Detailed Project Description in Q1 2027, with ongoing engagement with Lhtako Dene Nation, Williams Lake First Nation and Xatśūll First Nation. In August 2026, the BC Environmental Assessment Office confirmed SMG's plan for resuming the environmental assessment is acceptable and is not pursuing termination. The release responds to an XFN news release on the status of engagement agreements signed in 2012 and 2021.
CorporateSpanish Mountain Gold Announces Uplift In Scale And Value At Its B.C. Gold Project And Receives Confirmation From Provincial Regulators To Resume The Previously Paused Environmental Assessment And Permitting Process Advancing Towards Development
A Preliminary Economic Assessment update and resource estimate for the Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia, outlines a 25.8-year open pit operation producing 3.33 Moz payable gold, with an after-tax NPV5% of US$2,156 million and 35.2% IRR at US$3,600/oz gold, initial capital of US$1,050 million paid back in 1.8 years, LOM AISC of US$1,450/oz and throughput of 31,000 tpd. Measured and indicated resources total 342.1 Mt at 0.42 g/t for 4.66 Moz gold, plus 96.8 Mt inferred at 0.32 g/t for 1.01 Moz.
CorporateSpanish Mountain Gold Engages Investor Relation Service Firm
First Focus Capital Inc., a Vancouver-based capital markets and marketing firm, has been engaged to provide corporate communications, marketing and investor relations advisory services for an eight-month term from September 14, 2026 to May 14, 2027, subject to TSX Venture Exchange acceptance. Spanish Mountain Gold will pay a total fee of $40,000 in monthly installments of $5,000 from working capital. First Focus is at arm's length and holds no interest in the Company or its securities.
CorporateSpanish Mountain Gold Expands Mineralization Intersecting 252.3 Meters Of 0.82 g/t Gold Includingg 93.5 Meters Of 1.32 g/t Gold As Part Of Its Feasibility Study Drill Program
Assay results from ten diamond drill holes (26-DH-1381 to 26-DH-1390) at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia, include 252.30 m of 0.82 g/t gold from 75.50 m in hole 26-DH-1390, containing 93.50 m of 1.32 g/t gold, plus 346.70 m of 0.36 g/t gold in 26-DH-1381 and 93.0 m of 0.60 g/t gold in 26-DH-1386. About 18,500 m of the planned 60,000 m 2026 Feasibility Drill Program is complete, with results pending for 16 holes; the feasibility study is targeted for early 2028.
Drill resultsSpanish Mountain Gold Expands Orca Fault Mineralization Intersecting 80.15 Metres Of 0.83 g/t Gold Including 27.2 Metres Of 1.92 g/t Gold As Part Of Its Feasibility Study Drill Program
Assay results from seven diamond drill holes at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor include 26-DH-1376, which returned 303.18 m of 0.50 g/t gold from 76.02 m, including 80.15 m of 0.83 g/t gold and 27.2 m of 1.92 g/t gold from 242.8 m. Other holes returned 107.0 m of 0.56 g/t gold (26-DH-1379) and 60.65 m of 0.93 g/t gold (26-DH-1378). About 17,143 m of a planned 60,000 m feasibility program is complete, with 19 holes pending.
Drill resultsSpanish Mountain Gold Reports 69.20 Metres Of 0.74 g/t Gold And 77.85 Metres Of 0.70 g/t Gold As Part Of Its Feasibility Study Drill Program
Assay results from seven diamond drill holes at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia, include 69.20 m of 0.74 g/t gold from 53.80 m in 26-DH-1367 (including 14.85 m of 2.05 g/t), 77.85 m of 0.70 g/t gold from 35.05 m in 26-DH-1371, 82.22 m of 0.56 g/t gold from 203.78 m in 26-DH-1370, and 193.00 m of 0.41 g/t gold from 60.00 m in 26-DH-1373. About 16,083 m of the planned 60,000 m 2026 feasibility drill program is complete, with assays pending for 20 additional holes.
Drill resultsSpanish Mountain Gold Reports 100 Metres Of 1.00 Gram Per Tonne Gold As Part Of Its Feasibility Study Drill Program
Assay results from eight diamond drill holes at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia, include 221.8 m of 0.74 g/t gold from 128.0 m in hole 26-DH-1361, containing 100.0 m of 1.00 g/t gold from 231.0 m, and 100.1 m of 0.88 g/t gold from 8.3 m in 26-DH-1362, including 9.0 m of 7.46 g/t gold. About 28,500 m has been drilled to date, including 13,400 m of the planned 60,000 m 2026 Feasibility Drill Program started in March 2026; assays are pending for 19 holes.
Drill resultsSpanish 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
Assay results from twenty-one diamond drill holes at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor include 188 m at 0.47 g/t gold from 142.00 m in 26-DH-1355, containing 116.60 m at 0.60 g/t, and 145 m at 0.52 g/t from 56.00 m in 26-DH-1343. Approximately 25,588 m has been drilled to date, including 11,600 m of a planned 60,000 m feasibility program; 23 holes remain pending. The Company also granted 4,420,000 stock options at $0.36.
Drill resultsSpanish Mountain Gold Announces Closing of First Tranche of Royalty Financing and Receipt of US$22.5 Million
US$22.5 million was received from Wheaton Precious Metals Corp. on closing of the first tranche of Spanish Mountain Gold's previously announced royalty sale. A further US$32.5 million is available under the Royalty Financing terms once certain conditions precedent are satisfied. The funds relate to the 100%-owned Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia, where the company is targeting a construction decision in 2028.
FinancingSpanish Mountain Gold Announces Sale of a 1.5% Royalty to Wheaton Precious Metals for US$55 Million
Wheaton Precious Metals Corp. will acquire a 1.5% net smelter returns royalty on gold and silver production from the Spanish Mountain Gold Project in British Columbia for US$55 million in cash, paid in three installments. The first installment of US$22.5 million is expected within the next few weeks, US$12.5 million follows completion of 60,000 metres of drilling, and US$20 million on receipt of British Columbia Environmental Assessment Act approvals. Spanish Mountain Gold targets a feasibility study within 18 months and a build decision in 2028.
FinancingSpanish Mountain Gold Drilling Intersects 116.80 Metres Of 1.20 g/t Gold Within Larger Interval Of 282.50 Metres Grading 0.70 g/t Gold
Drilling at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia returned 282.50 m grading 0.70 g/t gold from 91.50 m in hole 26-DH-1337, including 116.80 m of 1.20 g/t gold and 12.20 m of 2.46 g/t gold. Other holes returned 298.00 m of 0.31 g/t from 6.00 m (26-DH-1334), 220.64 m of 0.44 g/t from 3.00 m (26-DH-1335) and 200.20 m of 0.53 g/t from 4.80 m (26-DH-1336). About 15,034 m has been drilled, with seven holes pending.
Drill resultsSpanish Mountain Gold Receives Positive Particle Ore Sorting Results for the Phoenix Deposit Highlighting Production Upside
Phase 1 X-ray transmission particle ore sorting tests on Phoenix deposit material at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor indicated potential to upgrade run-of-mine feed grade by two or more times, with 85% to 92% gold recovery and rejection of 50% to 70% of sorter feed mass. The 96 half-core samples tested averaged 0.48 g/t Au. Phase 2 testing of two 100-kg bulk samples is underway, with results targeted for inclusion in a PEA update in H1 2026.
Study resultsSpanish Mountain Gold Signs Memorandum of Understanding with Metso Canada Inc.
A memorandum of understanding has been signed with Metso Canada Inc. covering collaboration on the proposed process plant and tailings dewatering facilities at the Spanish Mountain Gold project in the Cariboo District of British Columbia, including trade-off studies, equipment selection and supply of process solutions. If Metso's equipment is selected during the anticipated feasibility phase, the company would target up to $50M of potential OEM financing, possibly backed by a state export credit agency, subject to lender approvals and definitive agreements. A construction decision is planned for 2027.
CorporateSpanish Mountain Gold Drilling Intersects 205.87 Metres Grading 0.58 G/T Gold, 142.00 Metres Of 0.77 G/T Gold, And 69.40 Metres Of 0.99 G/T Gold In Three Separate Drill Holes Containing Numberous Higher-Grade Sub-Intervals
Assay results from five drill holes in the Orca Fault target area at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor include 205.87 m of 0.58 g/t gold from 10.13 m (including 47.00 m of 1.19 g/t and 14.50 m of 2.22 g/t) in 26-DH-1328, 142.00 m of 0.77 g/t from 9.00 m in 26-DH-1329, and 69.40 m of 0.99 g/t from 50.60 m in 26-DH-1331A. Roughly 13,819 m has been drilled, exceeding the planned 9,000–10,000 m, with seven holes pending.
Drill resultsSpanish Mountain Gold Drilling Intersects 103.35 Metres Grading 0.88 g/t Gold With A Higher-Grade Subset Of 56.40 Metres Of 1.35 g/t Gold
Assay results from four drill holes in the Orca Fault target at the Spanish Mountain Gold project, Cariboo Gold Corridor, British Columbia, included 103.35 m of 0.88 g/t gold from 15.65 m in 25-DH-1325, including 56.40 m of 1.35 g/t and 9.90 m of 3.54 g/t; 25-DH-1324 returned 108.80 m of 0.68 g/t from 69.00 m; and 25-DH-1326 returned 116.50 m of 0.44 g/t from 20.00 m. Roughly 10,870 m has been drilled in the 2025 Fall program, above the 9,000–10,000 m planned, with drilling continuing into 2026.
Drill resultsSpanish Mountain Gold Drilling Intersects 133.57 Metres Grading 1.35 g/t Gold With A Higher-Grade Subset Of 25.47 Metres Of 4.28 g/t Gold
Drill hole 25-DH-1322 at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia returned 133.57 m grading 1.35 g/t gold from 75.43 m, including 25.47 m of 4.28 g/t gold from 132.40 m and 14.98 m of 6.42 g/t gold. Other results from the seven holes reported include 101.05 m of 0.58 g/t gold from 30.00 m in 25-DH-1321 and 40.20 m of 0.90 g/t gold from 180.00 m in 25-DH-1318. Approximately 9,864 m of the planned 9,000 to 10,000 m 2025 Fall Drill Program is complete, with assays pending from five further holes.
Drill resultsSpanish Mountain Gold Drilling Intersects 102.36 metres grading 0.92 g/t gold with a high-grade subset of 17.00 metres of 2.12 g/t gold
Five drill holes from the Orca Fault target at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor returned results including 171.36 m of 0.64 g/t gold from 20.00 m in 25-DH-1315, including 102.36 m of 0.92 g/t gold with a subset of 17.00 m of 2.12 g/t gold; 25-DH-1316 returned 75.71 m of 0.73 g/t gold from 14.79 m. Roughly 8,220 m of the planned 9,000 to 10,000 m fall program is complete, with assays pending from seven further holes.
Drill results
202528 releases
Spanish Mountain Gold Drilling Extends the Orca Fault Target Trend to a Strike Length over 500 metres Intersecting Numerous High-Grade Results Including 40.00 metres Grading 0.98 g/t Gold
Six drill holes in the southeastern extension of the Orca Fault target at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor extended the target to about 500 m of strike length, with results including 40.00 m of 0.98 g/t gold from 57.00 m in 25-DH-1311, 74.35 m of 0.66 g/t gold in 25-DH-1313, and 52.00 m of 0.50 g/t gold in 25-DH-1307. Five holes at the A12 target returned 42.12 m of 0.40 g/t gold in 25-DH-1301, with the other four closing off the target. Roughly 8,220 m of the planned 9,000–10,000 m program is complete.
Drill resultsSpanish Mountain Gold Drills Extensive Mineralization Over 140.67 Metres Grading 0.68 G/T Including 1.07 G/T Over 17.00 Metres And 0.95 G/T Over 67.31 Metres And Extends The Orca Fault Target Trend 130 M To Southeast Drilling 26.46 Metres Grading 0.80 G/T Gold
Assay results from three holes at the Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia included 140.67 m of 0.68 g/t gold from 53.84 m in 25-DH-1300, with 17.00 m of 1.07 g/t and 67.31 m of 0.95 g/t (including 12.78 m of 2.85 g/t). Hole 25-DH-1302 returned 102.56 m of 0.55 g/t and 73.11 m of 0.50 g/t, and 25-DH-1304 cut 26.46 m of 0.80 g/t, extending the Orca Fault trend to 430 m strike. Roughly 7,800 m of the planned 9,000–10,000 m program is complete, with 19 holes pending.
Drill resultsSpanish Mountain Gold Announces Change of Auditor for Fiscal 2025
Spanish Mountain Gold has replaced Smythe LLP with BDO LLP as auditor, to hold office until the close of the next annual general meeting; there were no reservations in the former auditor's reports and no reportable events. Kim Leroux joins as Director Finance effective January 2, 2026, while part-time contract VP Finance Mathew Lee will depart after a transition period in Q1 2026. The Spanish Mountain Gold Project in British Columbia targets a build decision in or before 2027.
CorporateSpanish 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
Drill hole 25-DH-1299 at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor returned 139.82 m of 0.82 g/t gold from 48.18 m, including 34.60 m of 2.17 g/t and 7.60 m of 7.09 g/t, plus a deeper interval of 45.54 m at 1.67 g/t from 284.00 m, including 33.54 m of 2.19 g/t and 13.53 m of 4.79 g/t. Hole 25-DH-1297 cut 50.84 m of 0.66 g/t gold from 44.76 m. About 6,947 m of the planned 9,000–10,000 m fall program is complete, with assays pending on 20 holes.
Drill resultsSpanish 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
Drill hole 25-DH-1296 at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor returned 68.00 metres of 0.71 g/t gold from 36.00 metres, including 35.16 metres of 1.16 g/t gold with a subset of 8.16 metres of 3.61 g/t gold, while 25-DH-1294 returned 107.50 metres of 0.68 g/t gold from 64.00 metres, including 41.00 metres of 0.98 g/t gold. The results extend higher-grade mineralization over 300 metres of strike at the Orca Fault target. Assays are pending on 16 further holes, and 325,000 shares were issued in November to acquire mineral claims.
Drill resultsSpanish Mountain Gold Reports 1.18 g/t Gold Over 35.80 Metres And 1.28 g/t Gold Over 20.25 Metres In The First Two Drill Holes Of The 2025 Fall Drill Program
The first two holes of the 2025 fall diamond drill program at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia returned 112.00 metres of 0.77 g/t gold from 84.00 metres in 25-DH-1292, including 35.80 metres of 1.18 g/t and 10.20 metres of 1.80 g/t, and 102.00 metres of 0.64 g/t gold from 94.00 metres in 25-DH-1293, including 20.25 metres of 1.28 g/t. The program totals 9,000 to 10,000 metres, with assays pending on seven additional holes in the newly defined Orca Fault area. The Company also engaged 6ix for six months at $5,000 per month.
Drill resultsSpanish Mountain Gold Initiates Ore Sorting Work On Gold Mineralization
A particle ore sorting program with ABH Engineering Inc. and a bulk ore sorting study with OrePortal Technologies Ltd. have begun for the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia. Samples for the ABH work are being collected from historical drill core at site from both the Phoenix and Main deposits, with capital and operating cost estimates to be developed. OrePortal will run a desktop study assessing ore heterogeneity, XRF and PGNAA sensors, costs, and impact on project net present value versus the July 3, 2025 PEA.
Study resultsSpanish Mountain Gold Announces 9-10,000 Metre Drill Program
A 9-10,000 metre diamond drill program in 27 HQ3-sized holes, ranging from 250 m to 600 metres depth, is planned to start in Q3 2025 and finish in Q1 2026 at the Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia, with Hardrock Diamond Drilling Ltd. contracted. Targets are the Main and Phoenix deposits, K-zone, Outcropping Tuff and A12. Work includes collecting Phoenix material for ore sorting metallurgical studies and condemnation holes to derisk 2025 PEA infrastructure sites.
Drill resultsSpanish Mountain Gold Engages Atrium Research Corporation
Spanish Mountain Gold has engaged Atrium Research Corporation to provide company-sponsored research services, present the Company's investment case to potential investors and host video interviews with management. Atrium will receive cash compensation of $3,400 per month over an 18-month term beginning on the date of TSX Venture Exchange approval. The parties are arm's-length, and neither Atrium nor its insiders hold shares or options in the Company.
CorporateSpanish Mountain Gold Announces Closing Of C$7.2 Million Brokered Private Placement
A brokered private placement closed for aggregate gross proceeds of approximately C$7,199,968, including exercise of the agent's option, comprising 20,690,087 units at C$0.145, 7,121,850 flow-through units at C$0.165 and 15,124,000 charity flow-through units at C$0.20, with Red Cloud Securities as sole agent. Insiders bought 5,112,200 units and 706,100 FT units. Proceeds are for exploration and development at the Spanish Mountain Gold Project in British Columbia's Cariboo Gold Corridor, working capital and general corporate purposes. Closing remains subject to final TSX Venture Exchange approval.
FinancingSpanish Mountain Announces AGM results
Shareholders approved all matters of business outlined in the management information circular at the Annual General Meeting held on August 21, 2025. The Board of Directors consists of Brent Bergeron, Peter Mah, Lembit Janes, Richard Orazietti and Garnet Dawson. The Company filed an NI 43-101 Technical Report on SEDAR+ on August 18, 2025 setting out a Preliminary Economic Assessment with an updated Mineral Resource Estimate for the Spanish Mountain Gold Project in British Columbia.
CorporateSpanish Mountain Gold Revises And Upsizes Brokered Private Placement For Up To C$6,000,000
The maximum gross proceeds of a brokered best efforts private placement have been increased from C$5,000,000 to C$6,000,000, comprising up to 20,689,655 units at C$0.145 for up to C$3,000,000, plus up to C$3,000,000 from flow-through units at C$0.165 and charity flow-through units at C$0.20. Red Cloud Securities is lead agent and sole bookrunner, with an option for an additional C$1,200,000. Closing is expected on or about August 27, 2025, with proceeds directed to the Spanish Mountain Gold Project in British Columbia.
FinancingSpanish Mountain Gold Announces Brokered Private Placement For Up To $5,000,000
A best efforts brokered private placement for gross proceeds of up to C$5,000,000 has been arranged with Red Cloud Securities Inc. as lead agent and sole bookrunner, comprising up to 20,689,655 units at C$0.145 for up to $3,000,000 and up to 12,121,212 flow-through units at C$0.165 for up to $2,000,000, with warrants exercisable at C$0.22 for 36 months. Red Cloud has an option for an additional C$1,000,000. Closing is expected on or about August 27, 2025, with proceeds directed to exploration and development at the Spanish Mountain Gold Project in British Columbia's Cariboo Gold Corridor, working capital and general corporate purposes.
FinancingSpanish Mountain Gold Announces Completion of Shares For Debt
A shares-for-debt transaction with arm's length creditor Whittle Consulting Ltd. has been completed, settling $379,720 in outstanding debt through a $14,320 cash payment and the issuance of 2,110,919 common shares at $0.1731 per share. The shares are subject to a four month plus a day hold period, and closing required TSX Venture Exchange approval. Spanish Mountain Gold will publish a new NI 43-101 Technical Report within 45 days of its July 3, 2025 PEA news release for its Spanish Mountain Gold Project in British Columbia.
FinancingSpanish Mountain Gold Announces Debt Settlement Agreement
A debt settlement agreement has been reached with arm's length creditor Whittle Consulting Ltd. to settle $379,720 in outstanding debt for past services, comprising a $14,320 cash payment and the issuance of 2,110,919 common shares at $0.1731 per share. Closing is subject to customary conditions including TSX Venture Exchange approval, with the shares subject to a four month plus a day hold period. The Company also stated it will publish a new NI 43-101 Technical Report on the Spanish Mountain Gold Project, British Columbia, within 44 days.
CorporateSpanish Mountain Gold Announces Larger Scale Preliminary Economic Assessment with a Base Case NPV5% after-Tax of C$1.0 Billion, 18.2 % IRR and 3.4 Year Payback at US$ 2,450/oz Gold Price; at US$3,300/Oz Spot Gold Price NPV5% C$2.3 Billion, 32.0% IRR and 2.0 Year Payback; Including an Updated Mineral Resource Estimate for Its Spanish Mountain Gold Project
A preliminary economic assessment for the Spanish Mountain Gold Project in central British Columbia shows a base case after-tax NPV5% of C$1,025 million, 18.2% IRR and 3.4-year payback at US$2,450/oz gold, rising to C$2,315 million, 32.0% IRR and 2.0-year payback at US$3,300/oz. The 26,000 tpd open pit and mill operation would produce 3.0 Moz payable gold over 24.5 years, with C$1,250 million initial capital and LOM AISC of US$1,338/oz. Updated resources total 292.1 Mt at 0.44 g/t gold measured and indicated, plus a maiden Phoenix inferred resource of 25.4 Mt at 0.44 g/t; a NI 43-101 technical report will be filed within 45 days.
Study resultsSpanish Mountain Gold Concludes Diamond Drill Program with 300 m Step-out Hole Intersecting 0.49 g/t over 100.49 meters in the K-Zone
Final results from a completed 10,000 m winter diamond drilling program at the Spanish Mountain Gold Project in British Columbia included hole 25-DH-1290, a 300 m northwest step-out from hole 25-DH-1286, which intersected 100.49 m grading 0.49 g/t Au from 300 m, including 15.00 m at 1.29 g/t Au and 1.00 m at 12.13 g/t Au with visible gold. Hole 25-DH-1288 returned 46.00 m at 0.22 g/t Au from 162.00 m, and 25-DH-1291 returned 5.33 m at 0.34 g/t Au. An optimized PEA with updated resource estimate is expected at the end of Q2 2025.
Drill resultsSpanish Mountain Gold Announces Grant of Stock Options
Spanish Mountain Gold has granted 2,860,500 stock options to officers and directors and 221,500 stock options to employees and consultants under its stock option plan. Each option is exercisable for one common share at $0.175 for ten years. The company expects to release results of an optimized Preliminary Economic Assessment with an updated Mineral Resource Estimate for its 100%-owned Spanish Mountain Gold Project in British Columbia at the end of Q2 2025.
CorporateSpanish Mountain Gold Intercepts Extensive Near Surface Gold Mineralization at the Phoenix Target
Drilling at the Phoenix Target on the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor outlined near-surface gold mineralization measuring approximately 1,450 m by 450 m with vertical depth of 60-320 m, open in all directions. Hole 25-CCR-062 returned 62.00 m grading 1.47 g/t Au from 227.00 m, including 4.00 m at 17.28 g/t Au, and hole 25-CCR-053 returned 188.20 m at 0.31 g/t Au from 63.00 m. The 10,000 m winter program totalled 31 holes, 14 at Phoenix. Equity Exploration has been engaged for a maiden Phoenix resource estimate expected in Q2 2025.
Drill resultsSpanish Mountain Gold Reports Near Surface High Grade Gold Intercepts in the K - Zone
Drilling at the K Zone of the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor returned 139.00 m grading 4.18 g/t Au from 56.00 m in hole 25-DH-1286, including 156.28 g/t Au over 3.50 m from 163.00 m and 719.26 g/t Au over 0.75 m from 165.10 m. Hole 25-DH-1284 returned 55.70 m at 0.41 g/t Au from 126.00 m, and hole 25-DH-1285 returned 39.00 m at 0.99 g/t Au from 113.00 m. The 10,000 m, 31-hole 2025 winter drill program is 73% complete.
Drill resultsSpanish Mountain Gold Reports Initial Drill Results Multiple Near Surface and High-grade Intercepts 2025 Winter Exploration Program
Initial results from the 2025 winter diamond drill program at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia, included Main Zone hole 25-DH-1281 with 123.00 m grading 1.08 g/t Au from 102.00 m, including 47.28 m at 2.29 g/t Au and 2.00 m at 24.56 g/t Au. A step-out hole 1,350 m northwest, 25-DH-1275, returned 62.20 m at 0.60 g/t Au from 21.00 m, while Phoenix hole 25-CCR-050 returned 246.50 m at 0.38 g/t Au from 45.00 m. Two drills remain active at Phoenix.
Drill resultsSpanish Mountain Gold Engages German Mining Networks GmbH
German Mining Networks GmbH of Frankfurt has been engaged to provide marketing and investor relations services in Europe, subject to TSX Venture Exchange acceptance. The initial term is three months for a total fee of $20,400, with the first monthly payment of $6,800 commencing on or after TSXV acceptance, and the company may continue monthly thereafter at $6,800 per month, paid from working capital. GMN is at arm's length and holds no interest in the company.
CorporateSpanish Mountain Gold Announces Symbol Change to “SPAUF” on the OTCQB Venture Market
Spanish Mountain Gold's U.S. OTCQB trading symbol changed from SPAZF to SPAUF, effective February 21, 2025. The company also granted 450,000 stock options to officers, including 150,000 to its Vice President Investor Relations and Corporate Development, exercisable at $0.135 per share for a 10-year term. The company is advancing its 100%-owned Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia, toward a construction decision in 2027.
CorporateSpanish Mountain Gold Commences 2025 Winter Exploration Drill Program
A 2025 winter diamond drill program has begun at the Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia, comprising approximately 10,000 metres in 25 NQ and HQ holes ranging from 350 m to 700 m long. Targets include the Slipper and K Zones, the Deep New Cataclastic Argillite Horizon following hole 24-DH-1268, an outcropping tuff target, and the Phoenix Target; drilling has started on two targets. Hardrock Diamond Drilling and SkyWest Environmental were engaged, with MSALABS PhotonAssay for results.
Drill resultsSpanish Mountain Gold Lists on the OTCQB Venture Market
Shares of Spanish Mountain Gold began trading on the OTCQB Venture Market effective January 27, 2025 under the symbol SPAZF, adding to its TSX-V (SPA) and FSE (S3Y) listings. The company said it will start its 2025 drill program this quarter at the 100%-owned Spanish Mountain Gold Project in British Columbia's Cariboo Gold Corridor, with an updated mineral resource estimate and a new Preliminary Economic Assessment targeted towards the end of the first half of 2025 and a build decision targeted in 2027.
CorporateSpanish Mountain Gold Engages Red Cloud Financial Services
Red Cloud Financial Services Inc. has been engaged to provide media and marketing services to Spanish Mountain Gold, subject to TSX Venture Exchange acceptance. The six-month engagement, commencing on or after receipt of TSXV acceptance, carries a total fee of $60,000 payable from working capital in monthly installments of $10,000. Red Cloud is at arm's length and holds no interest in the Company or its securities.
CorporateSpanish Mountain Gold Provides Project Update and Announces 2025 Exploration Drill Program
A 10,000 m diamond drill program using oriented core is set to begin in Q1 2025 at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor, targeting near-surface strike extensions, deeper high-grade 2024 intercepts, the Slipper and K Zones, a new third argillite horizon, and the Phoenix Target near historic hole 11-CCR-023, which returned 203.9 m at 0.4 g/t Au. A new mineral resource estimate and PEA, incorporating 5,590 m of 2024 drilling, are targeted for completion in H1 2025, with a build decision by 2027.
CorporateSpanish Mountain Gold Announces New Power Line to Site is Advancing
Stage 2 – Conceptual Design of the System Impact Study has commenced with BC Hydro as part of the utility's interconnection process to supply 60 MW of hydroelectric power to the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia. BC Hydro's scope includes a new substation connecting the company's planned 75 kilometre, 230 kV transmission line to the grid. Stage 1 was completed in 2024, with a build decision targeted by 2027.
Corporate
202426 releases
Spanish Mountain Gold Intercepts Continuous Mineralization
Final results from the 2024 diamond drill program at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia, included hole 24-DH-1268 with 96.47 m grading 0.91 g/t Au, including 29.00 m at 2.55 g/t Au, and hole 24-DH-1269 with 172.66 m at 0.35 g/t Au; both holes ended in mineralization. Other holes returned 50.00 m at 0.61 g/t Au (1270) and 56.50 m at 0.28 g/t Au (1272). A winter drill program is planned for 2025, and Equity Exploration Consultants Ltd. has been retained to assess the Phoenix Target for a maiden resource.
Drill resultsSpanish Mountain Gold Provides Additional 2024 Drill Program Results
Additional results from the 2024 drill program at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor include hole 24-DH-1265, which cut 49.00 m grading 0.58 g/t Au from 115.00 m, including 9.00 m at 2.09 g/t and 1.50 m at 11.95 g/t, plus 127.00 m at 0.30 g/t from 410.50 m. Hole 24-DH-1266 returned 56.70 m at 0.40 g/t Au and 24-DH-1264 returned 46.50 m at 0.22 g/t Au. The program totalled 11 holes over 5,590 m; an updated resource estimate and PEA are planned for the first half of 2025.
Drill resultsSpanish Mountain Gold Announces The Closing Of Private Placements For Gross Proceeds Of C$8.3 Million
Brokered and non-brokered private placements closed for aggregate gross proceeds of C$8,300,000, comprising C$7,500,000 from the brokered offering, including full exercise of the agent's over-allotment option, and approximately C$800,000 non-brokered. Securities issued included 26,478,926 units at C$0.135, 18,118,000 flow-through units at C$0.155 and 9,585,000 charity flow-through units at C$0.20, with warrants exercisable at C$0.18 or C$0.23 until November 15, 2026. Proceeds will fund working capital, a new Preliminary Economic Assessment and exploration drilling at the Spanish Mountain Gold project in British Columbia.
FinancingSpanish Mountain Gold Provides Update on Financing
Terms of the charity flow-through units in the brokered "best efforts" private placement of up to C$6,500,000 were amended, as set out in an amended and restated offering document dated November 5, 2024. Each Charity FT Unit, priced at $0.20, now comprises one flow-through share and one warrant exercisable at $0.18 per share for two years. The Brokered Offering is scheduled to close on or around November 15, 2024, subject to customary conditions including TSX Venture Exchange approval.
FinancingSpanish Mountain Gold Announces Additional Non-Brokered Private Placement of Units under the Listed Issuer Financing Exemption
An additional non-brokered private placement of units at C$0.135 per Unit for gross proceeds of up to C$800,000 was added, bringing combined gross proceeds of the concurrent brokered and non-brokered offerings to up to C$7,300,000, or up to C$8,300,000 if the Agent's Option is exercised in full. The offerings comprise up to 24,444,444 Units, 16,129,035 FT Units at C$0.155, and 7,500,000 Charity FT Units at C$0.20, with Red Cloud Securities as sole agent. Closing is scheduled on or around November 13, 2024, with proceeds funding working capital, a new Preliminary Economic Assessment and exploration drilling at the Spanish Mountain Gold project in British Columbia.
FinancingSpanish Mountain Gold Revises And Upsizes Brokered Private Placement For Up To C$6,500,000
A previously announced brokered "best efforts" private placement has been upsized from C$5,000,000 to C$6,500,000, comprising up to 18,518,519 units at C$0.135, up to 16,129,035 flow-through units at C$0.155, and up to 7,500,000 charity flow-through units at C$0.20, with Red Cloud Securities Inc. as sole agent and bookrunner and an option for an additional C$1,000,000. Proceeds will fund working capital, a new Preliminary Economic Assessment and exploration drilling at the Spanish Mountain Gold project in British Columbia. Closing is scheduled on or around November 13, 2024.
FinancingSpanish Mountain Gold Announces Brokered Private Placement for up to $5,000,000
A brokered "best efforts" private placement for gross proceeds of up to C$5,000,000 has been arranged with Red Cloud Securities Inc. as lead agent and sole bookrunner, comprising up to 18,518,519 units at $0.135 (warrants exercisable at C$0.18 for 24 months) and up to 16,129,035 flow-through units at $0.155 (half-warrants at C$0.23 for 24 months), plus an agent's option for an additional C$1,000,000. Proceeds will fund working capital, a new Preliminary Economic Assessment and exploration drilling at the Spanish Mountain Gold project in British Columbia. Closing is scheduled on or around November 13, 2024.
FinancingSpanish Mountain Gold Provides 2024 Drill Program Update with Initial Results that Confirm Mineralization Extensions
Hole 24-DH-1267 at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor returned 80.00 m grading 0.44 g/t Au from 53.00 m, including 22.50 m at 0.74 g/t Au; 91.50 m at 0.22 g/t Au from 284.50 m; and, at depth, 8.50 m at 0.67 g/t Au and 41.00 m at 0.19 g/t Au, ending in mineralization at 652.50 m. The 2024 program totalled 11 NQ diamond holes for 5,590 m, with further assays pending. The Company also granted 150,000 stock options at $0.16.
Drill resultsSpanish Mountain Gold Announces Amendment To Ir Engagement
The terms of Spanish Mountain Gold's engagement of Proactive Investors North America Inc have been amended, with the Company now paying a monthly fee of $3,750 over the one-year term, and payments cannot be accelerated by the Company. The engagement began July 1, 2024 and ends June 30, 2025. Any further revisions require prior TSXV approval. The engagement supports communications for the 100%-owned Spanish Mountain Gold Project in British Columbia.
CorporateSpanish Mountain Gold Announces the Addition of Suzette N. Ramcharan as Vice President, Investor Relations and Corporate Development
Suzette N. Ramcharan has been appointed Vice President, Investor Relations and Corporate Development of Spanish Mountain Gold, effective October 1, 2024. She has over 21 years of capital markets experience in the mining and metals sector, having worked with Nighthawk Gold Corp., Kirkland Lake Gold Ltd., St Andrew Goldfields Ltd., Gold Eagle Mines Ltd. and Gabriel Resources Ltd. The company is advancing its 100%-owned Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia.
ManagementSpanish Mountain Gold Provides 2024 Exploration Program & Project Update
Over 90% of the 5,000 m of planned 2024 drilling has been completed at the Spanish Mountain Gold Project near Likely, British Columbia, with 4,478 metres drilled in 7 of 9 NQ diamond drill holes since August 9, 2024, and assays expected in Q4 2024. Ausenco has been awarded the contract to lead a Preliminary Economic Assessment and combined NI 43-101 technical report with a new Mineral Resource Estimate, expected by Q1 2025. Julian Manco was appointed Director of Exploration effective September 5, 2024, and 400,000 stock options at $0.17 were granted to CFO Mark Ruus.
Drill resultsSpanish Mountain Gold Announces Investment from Creditor
A debt settlement with Whittle Consulting Ltd. has closed, under which Whittle applied $348,000 owed for services rendered toward 1,831,579 common shares issued at a deemed price of $0.19 per share. Spanish Mountain Gold also paid Whittle $122,400 in cash to settle the remaining amount owed. The shares are subject to a four month plus a day hold period, and closing required TSX Venture Exchange approval.
FinancingSpanish Mountain Gold Commences 2024 Exploration Program
Diamond drilling has begun at the Spanish Mountain Gold Project in the Cariboo Gold Corridor near Likely, British Columbia. The program comprises 5,000 metres in nine NQ-sized holes ranging from 460 m to 646 m long along the northwestern edge of the deposit, targeting extensions of newly identified mineralized zones, near-surface mineralization to the northwest and a larger proposed pit. Hardrock Diamond Drilling Ltd. is the contractor, and completion is expected by the end of September 2024.
Drill resultsSpanish Mountain Gold Is Pleased to Announce Mark Ruus as Chief Financial Officer
Mark Ruus has been appointed Chief Financial Officer of Spanish Mountain Gold Ltd. Ruus, a CPA – CA, began his career at PwC and has held Vice President and Senior Vice President Tax positions at Kinross Gold Corporation, Goldcorp Inc. and Placer Dome Inc., with almost three decades of mining experience. The Company is advancing its 100% owned Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia.
ManagementSpanish Mountain Gold Announces Closing of Second and Final Tranche of Private Placement
The second and final tranche of Spanish Mountain Gold's private placement closed, consisting of 50,000 flow-through units at $0.24 and 819,237 non flow-through units at $0.21 for gross proceeds of $184,040, bringing the total placement to 7,858,333 FT Units and 7,733,522 NFT Units for $3,510,040. Each unit includes one-half warrant exercisable at $0.25 for 24 months. Flow-through proceeds will fund exploration and development at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor; insiders participated and no finder's fees were payable.
FinancingSpanish Mountain Gold Engages Investor Relation Service Firms
Two investor relations firms have been engaged, subject to TSX Venture Exchange acceptance. First Focus Capital Inc. will provide corporate communications, marketing and investor relations advisory services over a six-month term from June 21, 2024 to December 21, 2024 for $30,000, paid in monthly installments of $5,000. Proactive Investors North America Inc. will produce and disseminate corporate communication materials over a one-year term to June 20, 2025 for $45,000 paid upfront, and plans to acquire 214,286 Units in the planned second private placement tranche. The Company also granted 2,000,000 stock options at $0.19 per share to officers and directors.
CorporateSpanish Mountain Gold Announces AGM Voting Results
All six director nominees — Christopher Lattanzi, Lembit Janes, Brent Bergeron, Garnet Dawson, George Peter Mah and Richard Orazietti — were elected at Spanish Mountain Gold's 2024 Annual General Meeting held in Vancouver, British Columbia on June 13, 2024, with support ranging from 98.74% to 99.33% of votes cast. A total of 157,267,479 common shares were voted, representing 42.17% of outstanding shares as of the record date. Shareholders also approved the re-appointment of Smythe LLP as auditor.
CorporateEarly Warning Report Issued Pursuant To National Instrument 62-103 – Acquisition Of Securities Of Spanish Mountain Gold Ltd.
Lembit Janes acquired 4,761,905 units of Spanish Mountain Gold at $0.21 per unit for a total of $1,000,000.01, with each unit comprising one common share and one-half warrant exercisable at $0.25 until May 30, 2026. His holdings rose from 56,974,548 shares (15.28%) to 61,736,453 shares, or about 16.55% undiluted. Including 11,309,524 warrants and 300,000 options, he would hold 75,726,929 shares, roughly 18.85% partially diluted.
AcquisitionSpanish Mountain Gold Announces Closing of the First Tranche of Private Placement
The first tranche of a previously announced private placement has closed, consisting of 7,808,333 flow-through units at $0.24 and 6,914,285 non flow-through units at $0.21 for gross proceeds of $3,325,999.77. Warrants are exercisable at $0.25 for 24 months, subject to earlier expiry if the 10-day VWAP exceeds $0.30. Flow-through proceeds will fund exploration and development at the Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor; finders' fees of $110,040 and 50,000 compensation warrants were paid. Insiders participated.
FinancingSpanish Mountain Gold Announces Private Placement
A non-brokered private placement of up to $3,387,000 is planned, comprising $1,874,000 of flow-through units at $0.24 per FT Unit and $1,513,000 of units at $0.21 per Unit, each including a half warrant exercisable at $0.25 for 24 months. Proceeds will fund exploration and development at the Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia, and working capital. Insiders will participate. The Company also granted 1,425,000 stock options at $0.24 to officers and directors.
FinancingSpanish Mountain Gold Partners with ANDRITZ for More Sustainable Mining
A partnership has been formed with technology group ANDRITZ and BC Hydro to reduce the carbon intensity of the proposed Spanish Mountain Gold project in the Cariboo Gold Corridor near Likely, British Columbia. The company will use ANDRITZ's proprietary IDEAS simulation software for process optimization, energy management, water management support and operator training, including training local operators on a digital twin ahead of workforce recruitment. Spanish Mountain Gold owns 100% of the project.
CorporateSpanish Mountain Gold Commences Trading on the Frankfurt Stock Exchange
Spanish Mountain Gold's common shares have been listed and commenced trading on the Frankfurt Stock Exchange under the symbol S3Y, in addition to its TSX-V listing under SPA. The company said the listing is part of its strategy to increase global visibility and liquidity and improve accessibility for European investors. Spanish Mountain Gold is advancing its 100%-owned Spanish Mountain Gold project in the Cariboo Gold Corridor, British Columbia.
CorporateSpanish Mountain Gold Receives Study Funding from BC Hydro
An agreement with BC Hydro has been signed under which Spanish Mountain Gold will receive funding to assess power-efficient alternatives for the proposed Spanish Mountain Gold project in the Cariboo Gold Corridor near Likely, British Columbia. The work will focus on opportunities to optimize gold production, comminution power and flotation performance for the project. The company owns 100% of the project.
NewsSpanish Mountain Gold Announces Metallurgical Test Program and Drill Results
A new metallurgical test program assessing coarse ore flotation has been scoped and tendered at the Spanish Mountain Gold Project near Likely, British Columbia, with the award and testing expected later in Q1 2024 using 2022 metallurgical drill samples; results will feed the Whittle Enterprise Optimization. Assays from the 2022 program of five HQ2 holes totaling 1,026 m returned 0.77 g/t Au over 56.6 m from 119.4 m, 0.59 g/t over 99.5 m, 1.03 g/t over 101.5 m and 0.79 g/t over 76.0 m.
Study resultsSpanish Mountain Gold Provides an Update on the System Impact Study with BC Hydro
Results of a System Impact Study from BC Hydro are expected in Q2 2024 for a new 230 kilovolt, 60 megawatt renewable power transmission line into the Spanish Mountain Gold project in the Cariboo Gold Corridor near Likely, British Columbia. As part of ongoing project optimization work, the transmission line was increased to a larger size than specified in the 2021 Prefeasibility Study to accommodate electrification of the mining fleet and flexibility in the processing circuit.
CorporateSpanish Mountain Gold Engages Generation IACP as Market Maker
Generation IACP has been engaged to provide market-making services for Spanish Mountain Gold on the TSX Venture Exchange and other trading venues, subject to regulatory approval. Compensation is $7,500 per month payable monthly in advance, for an initial twelve-month term renewing for an additional six months unless terminated, with either party able to terminate on 30 days' notice. No shares or options will be issued and there are no performance factors; the parties are unrelated and unaffiliated.
Corporate