Spectrum Metals Limited announced the first results from the Phase II drilling program at the Penny North prospect. Key Points: Results from three (3) holes have been received: SPWRC040 - 7m at 17.5 g/t gold from 230m, within 11m at 11.7 g/t gold from 229m. SPWRC039 - 1m at 180.3 g/t gold from 206m, within 3m at 70.8 g/t gold from 205m. SPWRC036 - 1m at 12.3 g/t gold from 205m, within 3m at 6.3 g/t gold from 205m. The high-grade results from Holes SPWRC039 and SPWRC040 are located down dip of previously reported hole SPWRC027 with an intersection of 6m @ 47.4 g/t from 150m. Holes SPWRC039 and SPWRC040 adds approximately 80m of down dip extent to this section line and therefore doubles the down dip extent of the Penny North lode on this section (6807170mN). Up dip holes SPWRC038 and SPWRC050 on the same section line are still awaiting assay results. The Phase II drilling program continues. Spectrum has drilled a total of 20 holes in its Phase II program so far.