Spanish Mountain Gold Partners with ANDRITZ for More Sustainable Mining

Vancouver, British Columbia--(Newsfile Corp. - May 24, 2024) - Spanish Mountain Gold Ltd. (TSXV: SPA) (FSE: S3Y) (the "Company" or "Spanish Mountain Gold") is pleased to announce it has partnered with international technology group ANDRITZ and BC Hydro (the province's utility company) to reduce the carbon intensity of its proposed Spanish Mountain Gold project in the Cariboo Gold Corridor near Likely, BC, Canada.

With the goal of building the most sustainable gold mine in Canada, Spanish Mountain Gold will use ANDRITZ's simulation software for process optimization, energy management, and operator training.

Peter Mah, Spanish Mountain Gold's President, CEO and Director comments, "We are very excited to partner with ANDRITZ, a leading international technology company, who shares the same values on sustainability as Spanish Mountain Gold. Through this partnership, our aim is to redefine the mining industry's approach to energy generation, consumption, and environmental responsibility by lowering carbon intensity to ensure we build the greenest gold processing facility in the industry."

Graham Ethier, Vice President Digital Products and Solutions for Mining and Mineral Processing at ANDRITZ in Canada, said, "We are very excited to be working with Spanish Mountain Gold on this project. The use of our technologies will help to reduce energy demand and drive positive changes in industry sustainability."

ANDRITZ's proprietary IDEAS simulation software will enable Spanish Mountain Gold to analyze energy consumption for greenfield operations, optimize process flowsheets, and predict power demand accurately. This proactive approach is crucial for balancing long-term supply and demand curves effectively. Similarly, it can be used to accurately support water management programs.

In addition, Spanish Mountain Gold envisions using the IDEAS simulation software to train local operators, supporting employment in the region. Trainees can learn the operation using a digital twin ahead of workforce recruitment and once employed at an operation, can continuously improve how processes are controlled.

By harnessing simulation technology, Spanish Mountain Gold aims to achieve sustainable gold mining while creating opportunities for local communities through skills development and employment.

ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. Sustainability is an integral part of the company's business strategy and corporate culture. With its extensive portfolio of sustainable products and solutions, ANDRITZ aims to make the greatest possible contribution to a sustainable future and help its customers achieve their sustainability goals. ANDRITZ is a global market leader in all four of its business areas - Pulp & Paper, Metals, Hydro and Separation. Technological leadership and global presence are cornerstones of the group's strategy, which is focused on long-term profitable growth. The publicly listed group has around 30,000 employees and over 280 locations in more than 40 countries.

About Spanish Mountain Gold
Spanish Mountain Gold is advancing its 100% owned Spanish Mountain Gold project towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. Our immediate focus is to conduct an integrated Whittle Enterprise Optimization to identify the highest potential value-add improvements while increasing the understanding of the high-grade geologic controls and associated drill targets that could upgrade and expand the gold resource. We are striving to be a leader in community and indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimizes environmental impacts and creates meaningful sustainability for communities. Details on the Company are available on www.sedarplus.ca and on the Company's website: www.spanishmountaingold.com.

On Behalf of the Board,
"Peter Mah"
President, Chief Executive Officer and Director
Spanish Mountain Gold Ltd.

For more information, contact:
Peter Mah, CEO
(604) 601-3651
info@spanishmountaingold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS:
Certain of the statements and information in this press release constitute "forward-looking statements" or "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 forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and 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 statements and information.

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