VANCOUVER, British Columbia, July 05, 2025 –Spanish Mountain Gold Ltd. (the “Company” or “Spanish Mountain Gold”) (TSX-V: SPA | FSE: S3Y | OTCQB: SPAUF) announces that it has entered into a debt settlement agreement with Whittle Consulting Ltd., an arm’s length creditor of the Company (“Whittle”) to settle an aggregate of $379,720 in outstanding debt (the “Debt”). In settlement of the Debt, the Company will (i) pay Whittle $14,320, in cash, and (ii) issue 2,110,919 common shares in the capital of the Company (the “Shares”) as directed by Whittle at a price of $0.1731 per Share (the “Debt Settlement”). The Debt relates to past services rendered by Whittle Consulting Ltd. to the Company.
Closing of the Debt Settlement is subject to a number of customary closing conditions, including, but not limited to, approval from the TSX Venture Exchange. The Shares to be issued in connection with the Debt Settlement will be subject to a statutory four month plus a day hold period in accordance with applicable securities legislation.