Spanish Mountain Gold Ltd. announced the assay results from the latest resource expansion program for the Spanish Mountain Gold Project (the "Project") located in British Columbia, Canada. In addition to the objective of advancing the Project's multimillion ounce Mineral Reserve, which was delineated in a PreFeasibility Study filed in June 2021, the Company has an ongoing campaign for resource expansion. The latest drill program, comprised of 28 holes over 4,485 metres (m), tested four broad areas of the deposit) in which there had been relatively limited drilling in the past. A majority of the drill holes were selected in the proximity of the previous resource pit boundary where management believes additional drilling may lead to increases in the strike lengths of the Mineral Resource. The Company expects the program to potentially increase ounces in the next reserve/resource estimate update as well as provide additional targets for the next round of resource drilling. Drill Results: Notably, the assay results report long intercepts (up to 68.58 m in length) in all four tested areas with grades higher than the economic cutoff established in the latest resource estimate (published along with the PFS). Gold occurs as fine disseminations within argillite, the mineralized unit with the high economic value in the deposit. The findings suggest the deposit displays potential in all four areas. Particularly encouraging are the results near the northern boundary of the resource pit (Area 1) where eight out of a total of nine drill holes return intercepts longer than 10 m with the farthest west drill hole (20SMRC1257) reporting intercepts up to 32 m in length. It appears that this entire northern area of the deposit with a strike length over 1,000 m shows potential both along strike and at depth. Highlights of assay results are as follows: 13.72m grading 1.04 g/t, including 3.05m grading 2.10 g/t gold in hole 20SMRC1256 - 21.34m grading 0.54 g/t, including 10.67m grading 0.82 g/t gold in hole 20SMRC1253 - 32.00m grading 0.39 g/t gold in hole 20SMRC1257 - 54.86m grading 0.31 g/t, including 9.14m grading 0.72 g/t gold in hole 20SMRC1231 - 50.29m grading 0.41 g/t, including 1.52m grading 3.68g/t gold in hole 20SMRC1233 - 18.29m grading 0.51 g/t, including 4.57m grading 0.83 g/t gold in hole 20SMRC1240 - 30.48m grading 0.47 g/t, including 1.52m grading 2.42 g/t and 67.06m grading 0.36 g/t including 18.29m grading 0.54 g/t; 1.52m grading 3.58 g/t gold in hole 20SMRC1245.