Spanish Mountain Gold Announces Results from Archaeological Impact Assessment: No Concerns Identified in Entire Proposed Project Area

Vancouver, February 20, 2019 - Spanish Mountain Gold Ltd. (TSXV: SPA) (the "Company") is pleased to announce the findings and conclusions of the Archaeological Impact Assessment conducted on the entire project area for its Spanish Mountain gold project (the "Project") located in British Columbia, Canada. The results are based on a comprehensive field program performed during the summer of 2018 by independent archaeological experts in extensive collaboration with field technicians and heritage specialists representing all three First Nations communities whose traditional territories encompass the project area.

The Company is appreciative of the participation by the Williams Lake Indian Band, Xatśūll First Nation and Lhtako Dené Nation and has shared the AIA findings and reports with each band. All three bands have accepted the reports without raising any issues or concerns. The final reports have now been filed with the BC Archaeological Branch of the Ministry of Forests, Lands, Natural Resource Operations and Rural Development.

Results

The comprehensive survey found that the investigated area has sustained previous disturbance through extensive forestry-related and placer mining activities. Specifically, no further archaeological work is recommended prior to any project activities within the entire project area where future mining infrastructure has been proposed under the 2017 Preliminary Economic Assessment.

If the project footprint changes or expands to include unassessed areas, additional AIA work will be required. While it is not currently anticipated, any ground-disturbing operations within previously or newly identified archaeological sites must be conducted under the authority of a Site Alteration Permit under Heritage Conservation Act Section 12.

AIA Methodology

Prior to the commencement of field work, a desk-top review was conducted for the entire assessed areas in order to determine the archaeological potential and guide the subsequent in-field assessment. The review utilized topographical data, aerial images, regional archaeological potential models as well as the Archaeological Branch's Remote Access to Archaeological Data (RAAD) application, which identifies previously recorded archaeological sites within or near the assessed areas.

Field surveys were conducted during summer months of 2018 by crews of five to six members. Vehicle surveys were performed along existing access roads in locations predicted by the regional model to have low archaeological potential and the findings of which were also used to guide the pedestrian survey program.

Under the pedestrian survey program, crew members were spaced at approximately 10 metre intervals along pedestrian survey transects, all ground exposures encountered were inspected for archaeological materials, and all trees (all species standing or fallen, including stumps) along survey transects were examined for indications of cultural modification. The survey was intensified in areas that are considered to have higher archaeological potential based on topographic and hydrological terrain features observed in the field. Subsurface tests were performed in areas of field-assessed as having moderate to high archaeological potential. The interval of testing in such areas varied between 3 m to 5 m. Each sample covered an area of at least 0.35 m by 0.35 m and was shovel-excavated until sterile matrix was encountered. Excavated materials were screened through 6 mm mesh for any items of potential archaeological significance. In total, 826 shovel tests were completed throughout the assessed areas.

CEO Comments

Larry Yau, CEO, states: "This marks the conclusion of another successful program during 2018, which delivered tangible benefits for our Project. Given the fact that the field work in proposed areas cannot and should not start without first completing this time-intensive program, we have preempted the potential for delays in future seasonal- and weather-dependent field work and project activities. Just as important, our continuing collaborations and dialogues with members of our First Nations communities can help us understand their concerns so that we can effectively address them.

"We have now achieved a significant milestone in the overall permitting process and have thereby further de-risked our project. We are satisfied that the proposed project footprint does not appear to impact areas that may be of archaeological significance to our First Nations communities. Spanish Mountain has always been and will remain committed to advancing our project in an environmentally responsible and culturally respectful manner."

About Spanish Mountain Gold

Spanish Mountain Gold Ltd. is focused on advancing its flagship Spanish Mountain gold project in southern central British Columbia. The Company has adopted a two-zone project approach in which the pit-delineated high grade core (the First Zone) of the multi-million ounce resource is expected to sustain a robust stand-alone operation exceeding 24 years. The positive economics of the First Zone have been demonstrated in a Preliminary Economic Assessment completed in 2017. Additionally, the resource ounces not included in the PEA (the Second Zone) present future opportunities for the project. Additional information about the Company is available on its website: www.spanishmountaingold.com.

On Behalf of the Board,
SPANISH MOUNTAIN GOLD LTD.

Larry Yau
Chief Executive Officer

Inquiries:
Spanish Mountain Gold Ltd.

Phone: (604) 601-3651
E-mail: info@spanishmountaingold.com
Website: www.spanishmountaingold.com

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This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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