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
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
Thu, October 8, 2026 at 11:02 AM UTC
0
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct 8, 2026--
Spanish Mountain Gold Ltd. (the " Company " or " Spanish Mountain Gold ") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to provide assay results recently received for 28 diamond drill holes on the Spanish Mountain Gold project (the “Project”), located in the Cariboo Gold Corridor, British Columbia, Canada.
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Figure 1: Drill Collar Location Map. The figure illustrates the collar locations for 28 drill holes reported in this news release. Section lines correspond to cross-sections presented in Figures 2 to 4. Collar coordinates are summarized in Table 2.
Approximately 33,353 metres of a planned 60,000 m 2026 Feasibility Drill Program has been completed to date. This news release presents assay results from holes 26-DH-1391 to 26-DH-1418. Results are pending for 25 additional drill holes.
Highlights:
26-DH-1414 intersected 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 intersected 152.65 m of 0.52 g/t gold from 8.85 m, including 47.93 m of 1.03 g/t gold from 35.0 m.
26-DH-1399 intersected 118.0 m of 0.55 g/t gold from 18.0 m, including a higher-grade interval of 25.0 m of 1.35 g/t gold from 68.0 m.
26-DH-1391, returned 340.00 m of 0.36 g/t gold from 14.00 m, including 48.0 m of 0.64 g/t gold from 14.00 m and 146.0 m of 0.54 g/t gold from 174.0 m.
These drill holes are part of the 2026 Feasibility Drill Program, initiated in March 2026 targeting infill drilling and resource expansion at the Main Deposit. Other drill programs to provide information on condemnation, geotechnical, metallurgy, geochemistry and ground water will be used to support the Feasibility Study which is targeted for completion in H1 2028.
Drill Results (Table 1)
Hole
From (m)
To (m)
Length (m)*
Gold Grade (g/t Au)
26-DH-1391
14.00
354.00
340.00
0.36
including
14.00
62.00
48.00
0.64
including
119.35
127.00
7.65
0.41
including
174.00
320.00
146.00
0.54
26-DH-1392
31.80
38.75
6.95
0.31
and
56.20
84.00
27.80
0.50
including
75.00
84.00
9.00
1.20
26-DH-1393
61.27
113.00
51.73
0.20
including
79.97
113.00
33.03
0.24
26-DH-1394
150.00
284.00
134.00
0.22
including
236.00
284.00
48.00
0.44
26-DH-1395
38.00
154.10
116.10
0.32
including
38.00
55.00
17.00
0.98
26-DH-1396
31.55
78.50
46.95
0.48
including
31.55
41.85
10.30
1.06
including
59.00
78.50
19.50
0.53
26-DH-1397
46.00
117.00
71.00
0.32
including
55.10
57.00
1.90
1.00
including
84.30
93.00
8.70
1.21
26-DH-1398
36.40
114.95
78.55
0.50
including
36.40
44.50
8.10
1.42
including
67.00
96.95
29.95
0.82
26-DH-1399
18.00
136.00
118.00
0.55
including
68.00
93.00
25.00
1.35
including
135.00
136.00
1.00
7.48
26-DH-1400
24.00
159.00
135.00
0.32
including
24.00
39.00
15.00
1.61
26-DH-1401
30.85
50.80
19.95
0.24
including
30.85
36.00
5.15
0.64
26-DH-1402
43.70
47.80
4.10
0.45
26-DH-1403
7.00
102.75
95.75
0.33
including
54.00
57.30
3.30
2.30
including
72.70
102.75
30.05
0.53
26-DH-1404
58.00
66.00
8.00
0.37
26-DH-1405
34.00
114.00
80.00
0.23
including
80.65
114.00
33.35
0.42
including
82.00
91.00
9.00
0.80
Hole
From (m)
To (m)
Length (m)*
Gold Grade (g/t Au)
26-DH-1406
32.25
142.65
110.40
0.38
including
76.50
135.00
58.50
0.61
including
133.50
135.00
1.50
3.06
26-DH-1407
52.00
144.05
92.05
0.34
including
73.00
112.00
39.00
0.55
26-DH-1408
8.85
161.50
152.65
0.52
including
8.85
108.12
99.27
0.73
26-DH-1409
19.00
111.65
92.65
0.32
including
64.00
111.65
47.65
0.47
26-DH-1410
90.00
100.55
10.55
0.83
including
91.30
96.80
5.50
1.40
26-DH-1411
36.00
120.00
81.00
0.47
including
36.00
88.40
52.40
0.65
26-DH-1412
4.50
191.65
187.15
0.28
including
118.00
160.00
42.00
0.64
26-DH-1413
53.50
70.00
16.50
0.71
and
150.80
158.00
7.20
0.26
and
182.00
211.60
29.60
0.33
26-DH-1414
41.00
336.50
295.50
0.54
including
170.00
277.00
107.00
0.93
including
308.75
316.60
7.85
1.18
26-DH-1415
102.00
110.00
8.00
0.44
and
141.50
172.00
30.50
0.45
and
248.00
344.00
96.00
0.39
26-DH-1416
28.05
32.80
4.75
0.62
and
45.60
48.00
2.40
0.36
and
90.10
127.00
36.90
0.41
26-DH-1417
34.00
69.00
35.00
0.26
including
38.20
61.70
23.50
0.31
26-DH-1418
21.80
57.50
35.70
0.40
including
21.80
42.75
20.95
0.56
and
114.00
117.00
3.00
0.46
and
138.00
156.00
18.00
0.30
and
222.20
334.00
111.80
0.34
including
222.20
245.30
21.80
0.92
including
228.00
244.00
16.00
1.16
including
263.20
272.00
8.80
0.73
*True thickness is not determined.
Abbreviations: m = meters, g/t = grams per tonne, Au = gold
Table 2: Drill Collar Information
Hole ID
East
North
Elev (m)
Azimuth (°)
Inclination (°)
Depth (m)
Bit Size
26-DH-1391
604181
5827705
1214
120.0
60.1
360
26-DH-1392
604219
5827598
1229
121.8
65.9
300
26-DH-1393
604594
5827751
1145
119.8
60.2
225
26-DH-1394
604084
5827671
1212
120.0
60.0
297
26-DH-1395
604559
5827778
1142
119.8
59.9
243
26-DH-1396
604691
5827597
1167
119.9
65.1
168
26-DH-1397
604672
5827636
1159
120.1
59.9
246
26-DH-1398
604661
5827613
1168
119.9
65.1
170
26-DH-1399
604639
5827631
1169
119.9
65.0
193
26-DH-1400
604652
5827594
1175
119.8
65.0
201
26-DH-1401
604743
5827627
1150
119.9
59.9
123
26-DH-1402
604708
5827641
1151
120.0
60.1
150
26-DH-1403
604618
5827701
1152
120.0
60.2
210
26-DH-1404
603948
5827700
1190
120.0
65.0
236
26-DH-1405
605645
5287696
1151
120.1
59.9
195
26-DH-1406
604659
5827517
1190
119.9
64.9
178
26-DH-1407
604583
5827680
1160
120.0
59.9
198
26-DH-1408
604611
5827523
1199
120.1
65.1
222
26-DH-1409
604627
5827658
1161
119.9
60.0
192
26-DH-1410
603950
5827703
1190
74.8
37.3
357
26-DH-1411
604625
5827581
1180
120.0
60.1
201
26-DH-1412
604525
5827698
1172
119.8
65.1
213
26-DH-1413
603964
5827724
1188
156.1
67.0
263
26-DH-1414
604250
5827714
1191
119.9
60.1
366
26-DH-1415
604093
5827925
1135
120.0
65.0
345
26-DH-1416
604022
5827618
1219
109.8
59.8
305
26-DH-1417
604719
5827703
1134
119.2
60.3
150
26-DH-1418
604183
5827870
1147
120.0
65.1
386
Collar coordinates and hole depths to be confirmed upon final survey data entry. Abbreviations: metres = m, Collar coordinates Datum: UTM NAD83 Zone 10N
Drill Core Processing, Data Verification and Quality Assurance – Quality Control Program (QAQC)
Drill core is received daily from the rigs and logged for recovery, RQD, lithology, alteration, mineralization and vein style and intensity before samples are marked for cutting, with core photography being done to capture the marked sample intervals. The entire holes are sampled, with core sawn in half and samples labeled and bagged. The remaining half core is securely stored on-site. Numbered security tags are applied to sample shipments to ensure chain of custody compliance. The Company inserts quality control (QC) samples at regular intervals, including blanks and certified reference materials and duplicates, 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 is overseen by the Company's Qualified Person, Mathew Ball, P.Geo., Mine Exploration Manager.
The data verification process involves a multi-step approach to ensure accuracy and integrity. This includes a detailed quality control (QC) analysis of the data, which is performed using both internal and external platforms, such as the MxDeposit™ software. The QC checks involve monitoring the results of analyses 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.
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.
PhotonAssay™
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).
Spanish Mountain Gold implemented two QAQC methodologies to validate the accuracy of PhotonAssay™ results, both demonstrating good comparability: 1) comparative analysis of diverse mineralization styles using Total Au screen metallic methods with both MSA code FAS-415 (gravimetric finish) and FAS-211 (AAS finish), and 2) comprehensive testing of both sample aliquots and rejects using FAS-211 (AAS finish).
Multi-Elemental Analysis
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For the 2026 drilling campaign, Spanish Mountain Gold used the MSA code IMS-230 method to provide multi-element determination using a four-acid digestion followed by ICP-OES and ICP-MS analysis.
Qualified Person
Dr. Mathew Ball, Ph.D., P.Geo., Mine Exploration Manger for Spanish Mountain Gold, is the Qualified Person as defined under National Instrument 43-101 who has reviewed the technical information in this news release and has approved the content for dissemination.
About Spanish Mountain Gold Ltd.
Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold project towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. On May 1, 2026, the Company received the first instalment of US$22.5 million in connection with the sale of a 1.5% NSR to Wheaton Precious Metals for US$55 million (see news release from May 1, 2026). In Q2 2026, the Company initiated a feasibility study on the Project, which is fully funded and will position the Company to make a construction decision in 2028.
The Company is seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities, which the Company terms “The Relentless Pursuit of Better Gold”. For more information on Spanish Mountain Gold, please visit the Company's website: www.spanishmountaingold.com or the Company’s profile on www.sedarplus.ca.
On Behalf of the Board, "Peter Mah" President, Chief Executive Officer and Director Spanish Mountain Gold Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING INFORMATION:
Certain of the statements and information in this press release constitute "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and includes but is not limited to information with respect to exploration drilling extending gold mineralization relating to the potential to enhance the proposed life-of-mine, the receipt of the two remaining instalments from the sale of the 1.5% NSR to Wheaton Precious Metals for US$55 million, the results of the feasibility study, and the timeline to make a construction decision. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
View source version on businesswire.com:https://www.businesswire.com/news/home/20261008547299/en/
CONTACT: For more information, contact:
Peter Mah
(604) 601-3651
info@spanishmountaingold.com
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES
SOURCE: Spanish Mountain Gold Ltd.
Copyright Business Wire 2026.
PUB: 10/08/2026 07:00 AM/DISC: 10/08/2026 07:02 AM
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