South Pacific Metals Announces More Mineralised Structures Discovered at Ontenu NE: Assay Results up to 13.9g/t Au, 388g/t Ag, 0.26% Cu

Vancouver, British Columbia--(Newsfile Corp. - October 6, 2025) - South Pacific Metals Corp. (TSXV: SPMC) (OTCQB: SPMEF) (FSE: 6J00) ("SPMC" or the "Company") is pleased to announce rock chip assay results from more new discoveries of mineralized structures, at the Ontenu NE prospect within its Osena Project. The Project lies within a major NE-SW corridor known as the Kainantu Transfer Zone, which also hosts the large Kainantu Gold-Copper mine being mined by K92 Mining Ltd.

Highlights:

• More mineralised structures similar to, and south of, the newly discovered zone reported September 17, 2025, including:

• Several narrow structures within a wider structural zone, assays include:

  • 13.9g/t Au & 388g/t Ag

  • 3.68g/t Au, 302g/t Ag

• Another new structure (0.3m to 0.5m wide breccia/vein zone), assays include:

  • 3.36g/t Au, 302g/t Ag

• 11 other samples along these and other structures returned assays between 0.1-1g/t Au (and up to 184g/t Ag and 0.26% Cu)

• These new northwest trending structures are south of, and expand, the zone previously reported on September 17, 2025 (refer to Figure 2 below) that returned the following results:

  • 3.95g/t Au, 1.2% Cu and 603g/t Ag

  • 2.65g/t Au, 0.6% Cu, 337g/t Ag

  • 2.18g/t Au, 0.1% Cu, 100g/t Ag

• Ontenu NE now has multiple epithermal Au-Cu targets with:

  • At least 6 identified mineralized structures mapped out over several hundred metres

  • With coincident As-Au-(Cu) soil anomalies up to 1200m long

  • NW-SE and N-S structures, host rocks and geologic setting and geochemical association similar to the high-grade veins currently being mined and explored at the nearby K92 Mine

• Mapping and sampling are ongoing (further assays pending)

• Drill planning to test these targets is underway

• Trenching and reconnaissance continuing on the wider Ontenu Project area as well as the Anga Project

"We are pleased by the continuing discovery of more of these mineralised structures. We believe these structures could represent the upper levels of deeper, higher grade epithermal Au-Cu veins." said Timo Jauristo, CEO of the Company."Our drill planning is well underway and we are geared up to start drill testing these targets in the coming month. We are excited to start drilling the first holes to test these targets. "

Figure 1. Ontenu NE area soil contours, rock chip results and mapped structures. New high-grade Au-Ag labelled with green outline. Ontenu NE is dominated by NW-SE striking structures. Refer to Appendix 1 for details on latest results. 

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https://images.newsfilecorp.com/files/10890/269183_dc73ed94b4e1c95e_001full.jpg

Figure 2. Structures at southwestern part of Ontenu NE area. Assays for new results are outlined in green, with new sample location in red squares with white outline. Refer to Appendix 1 for details on latest results. 

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https://images.newsfilecorp.com/files/10890/269183_dc73ed94b4e1c95e_003full.jpg

About the Osena Project

Covering 738 km² of strategic ground, the Osena Project is located southwest of and adjacent to K92's tenements that host the Kainantu Gold Mine. Priority prospects include Ontenu, a large-scale cluster of five intrusive Copper-Gold porphyry and epithermal vein targets extending over 5 km x 3 km. The Ontenu Prospect is one of many occurring within a mineralized corridor that extends more than 40 km northeast across the Kainantu District.

Figure 3. Kainantu District with SPMC's Osena Project (SW) and Anga Project (NE) relative to K92 Mining Ltd's deposits. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10890/269183_dc73ed94b4e1c95e_004full.jpg

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 Mining'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 (OTCQB: SPMEF) and Frankfurt Stock Exchange (FSE: 6J00).

Quality Assurance and Quality Control

Rock Sampling

Rock samples are selective and collected by a consultant geologist and Company geologists in the field. Samples were sent to the ITS (PNG) Ltd (Intertek) Laboratory in Lae. Gold assays were conducted using 50g charge Fire Assay with Atomic Absorption Spectra finish (Intertek Code FA50/AA), with a detection limit of 0.01ppm. Copper and silver assays were assayed with 3-acid digest (Intertek Code PGGA03). Samples are also being sent for full multi-element assays to be determined using 4-acid digestion with Mass Spectrometry (ICPMS) (Intertek code 4A/MS48).

Certified reference material, duplicates and blanks were inserted into the rock sample stream to monitor laboratory performance, with no significant variations from expected results.

Qualified Person

The scientific and technical information disclosed in this release has been compiled by Company geologists and consultants and reviewed and approved by Darren Holden, BSc(Hons) (Geology), PhD, FAusIMM, a "Qualified Person" as defined under the Canadian Institute of Mining National Instrument 43-101 Standards of Disclosure for Mineral Projects. Dr. Holden is a Technical Advisor to the Company.

For further information please contact:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer and Forward-Looking Information

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of SPMC. In making the forward-looking statements, SPMC has applied certain assumptions that are based on information available to the Company, including SPMC's strategic plan for the near and mid-term. There is no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements may involve various risks and uncertainties affecting the business of the Company. These forward-looking statements can generally be identified as such because of the context of the statements, including such words as "believes," "anticipates," "expects," "plans", "may", "estimates", or words of a similar nature. Forward-looking statements or information in this news release relate to, among other things: the start of drill testing and the timing thereof, and further exploration programs. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic, regulatory, or other unforeseen uncertainties and contingencies. These assumptions include, without limitation: success of the Company's projects, prices for metals remaining as estimated, currency exchange rates remaining as estimated, availability of funds for the Company's projects, capital, decommissioning and reclamation estimates, prices for energy inputs, labour, materials, supplies and services (including transportation), no labour-related disruptions, no unplanned delays or interruptions in scheduled construction and production, all necessary permits, licenses and regulatory approvals are received in a timely manner, and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Accordingly, readers should not place undue reliance on forward-looking information. Such factors include, without limitation: fluctuations in gold prices, fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation), fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar), operational risks and hazards inherent with the business of mineral exploration, inadequate insurance or inability to obtain insurance to cover these risks and hazards, the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner, changes in laws, regulations and government practices, including environmental, export and import laws and regulations, legal restrictions relating to mineral exploration, increased competition in the mining industry for equipment and qualified personnel, the availability of additional capital, title matters and the additional risks identified in the Company's filings with Canadian securities regulators on SEDAR+ (www.sedarplus.ca). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

Appendix 1

Table 1. Latest campaign rock chips from Ontenu NE >0.1g/t Au. All coordinates in WGS 84 Zone 55.

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