Spanish 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

Spanish 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