Spanish Mountain Announces the Retirement of Morris Beattie, Director and Chairman of the Board

Vancouver, British Columbia--(Newsfile Corp. - June 17, 2021) - Spanish Mountain Gold Ltd. (TSXV: SPA) (the "Company") has accepted a letter of resignation and retirement from Morris Beattie, a Director, Chairman of the Board and a significant technical advisor to the company. His resignation will be effective June 30, 2021.

Morris has accomplished his primary goals with Spanish Mountain and is now looking forward to retirement. He has overseen completion of our successful PFS (2021), passed on the technical details of the project to our engineering staff and he has managed our Board for several years. We thank him for his efforts which have been instrumental in bringing the company to its current positive position.

Morris wishes continued success to the staff, consultants, shareholders and the Board as the company continues to advance the Spanish Mountain Gold Project.

We wish him a long and enjoyable retirement.

W. Terry MacLean, a current Director, will replace Morris as Board Chairman on July 1, 2021. The company has initiated a search for two additional Directors.

About Spanish Mountain Gold

Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain gold project in southern central British Columbia. The Company is simultaneously pursuing the dual objectives of delivering critical project milestones for the multi-million ounce Mineral Reserve and further expanding the overall Mineral Resource. The Pre-Feasibility Study (2021) demonstrates the Project's potential to be a mining operation with a robust production profile (>150,000 oz per year) and profitability (AISC $801 per oz) over a mine life of 14 years. Details on the Project and the Company are available on www.sedar.com and on the Company's website: www.spanishmountaingold.com.

On Behalf of the Board,
SPANISH MOUNTAIN GOLD LTD.

W. Terry MacLean,
Director

Inquiries:
SPANISH MOUNTAIN GOLD LTD.

Phone: (604) 601-3651
E-mail: info@spanishmountaingold.com
Website: www.spanishmountaingold.com

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87957

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