Vancouver, B.C. – February 18, 2025 – South Pacific Metals Corp. (TSX-V: SPMC; OTCQB: SPMEF; FSE: 6J00) (“SPMC” or the “Company”) is pleased to announce that that following the successful closing of its recent C$6.3 million financing, the Company is now set to proceed with extensive exploration programs across its 3,100 square kilometre (km2) portfolio of four gold-copper projects in Papua New Guinea.
Upcoming exploration activities at May River, Osena, Anga and Kili Teke Projects will include systematic sampling, trenching, and drilling to further define and expand the mineral potential of each property. These programs are designed to build on existing geological data, confirm high-priority targets, and plans to drill multiple targets and advance the projects toward potential resource delineation.
“We are excited and ready to move on the next phase of our exploration strategy with full financial backing,” said Michael Murphy, Executive Chair of SPMC. “With this funding secured, we can now aggressively advance our projects. While we are continuing with surface exploration programs to identify additional targets, next steps will involve drilling select targets and focusing on high-potential areas confirmed last year. Drill programs have been designed to capitalize on known project mineralization and to test new high-priority zones.”
Investor Relations
The Company also announces that, subject to the acceptance of the TSX Venture Exchange (the “TSX-V”), it has engaged Danayi Capital Corp. (“Danayi”), an arm’s-length service provider, to provide certain investor relations and digital marketing services (the “Services”) to the Company. Danayi is a marketing, advertising and public awareness firm based out of Vancouver, British Columbia, specializing in the mining and metals sector.
The Services are to be provided pursuant to a digital marketing agreement dated February 18, 2025 (the “Agreement”) and will include digital media, marketing strategies, and advertising for a fee of US$50,000 for one trial month. Upon conclusion of the trial month, the Agreement is extendable at the Company’s option.
Danayi has no current interest, directly or indirectly, in the Company nor its securities, and has no right or intent to acquire such an interest while the Services are being performed.
About South Pacific Metals Corp.
South Pacific Metals Corp is an emerging gold-copper exploration company operating in the heart of Papua New Guinea’s proven gold and copper production corridors. With an expansive 3,100 km² land package and four transformative gold-copper projects contiguous with major producers K92 Mining, PanAust and neighbouring Barrick/Zijin, new leadership and experienced in-country teams are prioritizing thoughtful and rigorous technical programs focused on boots-on-the-ground exploration to prioritize discovery across its portfolio projects: Anga, Osena, Kili Teke and May River.
Immediately flanking K92’s active drilling and gold producing operations to the northeast and southwest, SPMC’s Anga and Osena Projects are located within the high-grade Kainantu Gold District – each having the potential to host similar-style lode-gold and porphyry copper-gold mineralization as that present within K92’s tenements. Kili Teke is an advanced exploration project situated only 40 km from the world-class Porgera Gold Mine and hosts an existing Inferred Mineral Resource with multiple opportunities for expansion and further discovery. The May River Project is located adjacent to the world-renowned Frieda River copper-gold project, with historical drilling indicating potential for a significant, untapped-gold mineralized system. SPMC common shares are listed on the TSX Venture Exchange (TSX-V: SPMC), the OTCQB Marketplace, and Frankfurt Stock Exchange (FSE: 6J00).
For further information please contact:
Michael Murphy, Executive Chair
South Pacific Metals Corp.
Tel: +1 604-428-6128
Email: info@southpacificmetals.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer and Forward-Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating the future operations and activities of SPMC, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, statements in respect of the Company’s upcoming exploration programs and purposes thereof, including the potential of defining and expanding mineral potential, and the receipt of regulatory approval of the Agreement with Danayi for the provision of the Services. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by SPMC, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, changes in general economic, market and business conditions, and the ability of the Company to obtain regulatory approval of the Agreement with Danayi. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. SPMC does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
