Spanish Mountain Announces Chairman of the Board

Vancouver, British Columbia--(Newsfile Corp. - July 1, 2021) - Spanish Mountain Gold Ltd. (TSXV: SPA) (the "Company") is pleased to announce that W. Terry MacLean has been appointed Chairman of the Board of Directors effective July 1, 2021, following the previously announced retirement of Morris Beattie. Mr. MacLean was appointed on a unanimous decision of the Board.

Mr. MacLean, a graduate UBC engineer (Mining and Mineral Processing), has been an involved and committed member of the Spanish Mountain Board since June 2019. He is Chairman of the Technical Review Panel and has been appointed to the Compensation Committee. His stated goal is to build on the success of the recently announced Pre-feasibility Study as Spanish Mountain moves towards a production decision.

Mr. MacLean has more than 30 years of experience in all phases of mining from project development through start-up and full operation in Canada, the United States and Russia, including senior roles with Lundin Mining, Amax of Canada and Utah International and Amax Gold/Kinross Gold. In his various capacities, he has established productive relationships with government officials, bankers, environmentalists, First Nations groups, board members and, most importantly, his employees.

Terry looks forward to continuing to build on the success of Spanish Mountain Gold.

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^[1] and on the Company's website: www.spanishmountaingold.com^[2].

On Behalf of the Board,SPANISH MOUNTAIN GOLD LTD.

W. Terry MacLean,Chairman

Inquiries: SPANISH MOUNTAIN GOLD LTD.

Phone: (604) 601-3651E-mail: info@spanishmountaingold.com Website: www.spanishmountaingold.com^[3][4]

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/89197^[5]

References

1. ^{^} www.sedar.com (www.newsfilecorp.com)
2. ^{^} www.spanishmountaingold.com (www.newsfilecorp.com)
3. ^{^} info@spanishmountaingold.com (www.newsfilecorp.com)
4. ^{^} www.spanishmountaingold.com (www.newsfilecorp.com)
5. ^{^} https://www.newsfilecorp.com/release/89197 (www.newsfilecorp.com)