Multiple Copper-Gold Mineralized Districts Identified At May River Project

VANCOUVER - South Pacific Metals Corp. reported that two significant mineralized districts - the Skygate Cu-Au Porphyry-Epithermal District and the Ufuo Polymetallic Massive Sulfide District - have been identified following a thorough evaluation data from decades of historical work.

Ufuo Polymetallic Massive Sulfide District hosts a complex of five massive sulfide bodies, hosted in volcanics with a clear structural control. Two have been drilled with historical results returning high-grade Cu (+Au, Zn, Pb, Ag) near surface: 19 m @11.47% Cu, 2.17g/t Au from 13 m depth1 and 11 m @ 10.07% Cu, 2.03g/t Au from 13 m depth1. Multiple other undrilled geophysical targets remain in this prospect area. Skygate Cu-Au Trend is a 7-km long gold-copper mineralized trend lying 15 km west of the giant Frieda River Cu-Au deposit, which hosts 12 Mt Cu and 20 Moz Au2. This trend features confirmed Cu-Au porphyry exposures and historically drilled gold-bearing diatreme breccias. New, advanced review, reprocessing and modeling of historic data has illustrated the potential for sub-surface porphyry targets. This trend lies within similar host rocks and structural setting to that of Frieda River. Historical drilling intercepts include 109 m at 1.53 g/t Au from surface1 and 54 m at 1.83 g/t Au from 106 m depth1, with holes ending in +1 g/t Au mineralization.

Expansive Copper-Gold Exploration Package district-scale tenement package (~1,700 km²) , hosting multiple styles of mineralization with more than 20 identified prospects ranging from high grade polymetallic massive sulfide, epithermal Au and porphyry Cu-Au-Mo.

The Company is currently evaluating various non-dilutive, project-level financing options to advance exploration efforts which may include surface sampling, mapping and drilling. Refer to Figure 1 for an overview of prospects at May River.

"As we continue to evaluate and integrate over 25 years of exploration data with regional known geology, our efforts to delineate May River's full mineralized potential continue to expand," stated Cathy Fitzgerald, President and Chief Geologist. "Our recent 3D advanced geological and geophysical modeling, combined with prior surface sampling and drill results, have already defined high-priority targets at Skygate and Ufuo for drilling. This district-scale approach to early-stage deposit evaluation underscores the prolific nature of May River's land package and further growth opportunities with multiple additional anomalies warranting follow-up. Our near-term goal is to advance our existing drilled prospects and test the remaining tenement package to qualify additional targets."