Spanish Mtn Gold Ltd - SPAZF STOCK NEWS

Spanish Mountain Gold (TSXV: SPA) (FSE: S3Y) (OTC Pink: SPAZF) has announced the appointment of Suzette N. Ramcharan as Vice President, Investor Relations and Corporate Development, effective October 1, 2024. Ms. Ramcharan brings over 21 years of experience in capital markets, specializing in the mining and metals sector. Her expertise includes investor relations, brand management, business development, and M&A transactions.

Peter Mah, CEO of Spanish Mountain Gold, expressed excitement about the addition to the team, highlighting Ramcharan's extensive experience and expertise. Ramcharan herself commented on her enthusiasm for advancing the Spanish Mountain Gold Project, emphasizing the importance of a united team focused on people, the environment, and safety.

Spanish Mountain Gold (TSXV: SPA) (FSE: S3Y) (OTC Pink: SPAZF) provides an update on its 2024 Exploration Program at the Spanish Mountain Gold Project in British Columbia. The company has completed over 90% of the planned 5,000m drilling, with 4,478 meters drilled in 7 of 9 diamond drill holes. Results are expected in Q4 2024. The program aims to extend mineralization zones and potentially reduce waste strip, define high-grade controls, and increase project scale.

Additionally, Spanish Mountain Gold has awarded Ausenco the contract for a new Preliminary Economic Assessment (PEA), expected to be completed by Q1 2025. The company also announced the appointment of Julian Manco as Director of Exploration and provided updates on various project aspects, including core relogging, geological modeling, and metallurgical test work.

Spanish Mountain Gold (TSXV: SPA) (FSE: S3Y) has completed a transaction with Whittle Consulting to settle a debt for services rendered. Whittle invested $348,000 in exchange for 1,831,579 common shares of the Company at a deemed price of $0.19 per share. Additionally, Spanish Mountain Gold paid Whittle $122,400 in cash to settle the remaining amount due. The transaction, which was subject to TSX Venture Exchange approval, includes a statutory four-month plus one-day hold period for the issued shares in accordance with securities legislation.

Spanish Mountain Gold (TSXV: SPA) (FSE: S3Y) (OTC Pink: SPAZF) has commenced its 2024 exploration diamond drill program at the Spanish Mountain Gold Project in British Columbia, Canada. The program aims to extend near-surface mineralization and increase the proposed pit size, with 5,000 meters of drilling planned in nine NQ-sized diamond drill holes. The objectives include confirming new high-grade geological controls and expanding the mineral resource. Hardrock Diamond Drilling has been engaged for the program, utilizing renewable diesel fuel to reduce the carbon footprint. The exploration is expected to be completed by the end of September 2024.

Spanish Mountain Gold (TSXV: SPA) (FSE: S3Y) (OTC Pink: SPAZF) has appointed Mark Ruus as Chief Financial Officer. With nearly 30 years of mining experience, Ruus brings extensive knowledge in financing, cost control, business efficiency, compliance, tax, merger and acquisition, and financial reporting for mining companies. He previously held senior positions at major gold mining companies including Kinross Gold, Goldcorp, and Placer Dome.

Ruus, a CPA-CA, expressed excitement about joining Spanish Mountain Gold as it transitions from explorer and developer to producer. CEO Peter Mah highlighted Ruus' passion and leadership skills as instrumental to the company's mission of sustainable growth.

Spanish Mountain Gold (TSXV: SPA) has announced an agreement with Whittle Consulting for an investment of $348,000 in exchange for 1,831,579 common shares at $0.19 per share. This investment is in lieu of a cash payment for services rendered by Whittle, who is conducting an Enterprise Optimization Study for Spanish Mountain Gold's multi-million-ounce open pit project in the Cariboo Gold Corridor near Likely, British Columbia.

The study, announced on December 22, 2023, utilizes Whittle's Prober-F software and expertise to determine the optimal operation and scale of the project. Gerald Whittle, CEO of Whittle Consulting, expressed confidence in Spanish Mountain Gold's management team and their project's potential. The share issuance is subject to TSX Venture Exchange approval and a four-month hold period.

Spanish Mountain Gold has engaged two firms, First Focus Capital and Proactive Investors, to boost its investor relations and marketing efforts.

First Focus, based in Vancouver, will provide services from June 21, 2024, to December 21, 2024, for a total fee of $30,000, paid in monthly installments. Proactive Investors, based in Toronto, will create and distribute corporate communication materials from June 21, 2024, to June 20, 2025, for a one-time fee of $45,000, paid upfront. Both companies are independent of Spanish Mountain Gold and hold no direct or indirect interest in the company as of the announcement date.

Additionally, Proactive Investors plans to acquire 214,286 units in an upcoming private placement, as previously announced on May 27, 2024. Spanish Mountain Gold also granted 2,000,000 stock options, exercisable at $0.19 per share, to its officers and directors.

Spanish Mountain Gold announced the voting results of its 2024 Annual General Meeting held on June 13, 2024, in Vancouver, British Columbia. A total of 157,267,479 shares, representing 42.17% of the outstanding common shares, were voted.

All six nominated directors were elected with over 98% of votes in favor. The elected directors include Christopher Lattanzi (99.33%), Lembit Janes (99.28%), Brent Bergeron (98.99%), Garnet Dawson (98.74%), George Peter Mah (98.79%), and Richard Orazietti (98.91%).

Additionally, shareholders approved the re-appointment of Smythe LLP as the Company's auditors for the next year.

On June 3, 2024, Spanish Mountain Gold reported that Lembit Janes, an investor, acquired 4,761,905 units at $0.21 per unit, totaling $1,000,000.01. Each unit includes one common share and half a purchase warrant, allowing acquisition of an additional share at $0.25 each until May 30, 2026. This acquisition increased Janes' holdings by more than 2%, from 15.28% to 16.55% of the company's common shares. Janes now controls 61,736,453 shares and 11,309,524 warrants, with potential to own 18.85% of shares upon exercising all options. Janes may adjust his holdings based on market conditions.