South Pacific Metals Announces More Mineralised Structures Discovered at Ontenu NE: Assay Results up to 13.9g/t Au, 388g/t Ag, 0.26% CuOctober 06, 2025 7:30 AM EDT | Source: South Pacific Metals Corp.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 Os ...

Core Insights - South Pacific Metals Corp. has announced the discovery of new mineralized structures at the Ontenu NE prospect within its Osena Project, with assay results showing up to 3.85g/t Au, 1.2% Cu, and 603g/t Ag in rock chip samples [1][3][5] Exploration and Assay Results - The exploration at Ontenu NE has recently pivoted, leading to the identification of several new mineralized structures that may represent upper levels of epithermal Au-Cu veins [3] - High assay results include: - 3.95g/t Au, 1.2% Cu, and 603ppm Ag from one sample - 7.69g/t Au in a 10-30cm wide vein in a sheared conglomerate outcrop - 9.34g/t Au and 272g/t Ag in a creek float rock sample [5][10] - The mineralized structures are associated with a >600m long Au-As soil anomaly and several Au-As (+Cu) soil anomalies extending up to 1,200m long [5][10] Project Overview - The Osena Project covers 738 km² and is strategically located adjacent to K92 Mining's Kainantu Gold Mine, which is a significant gold-copper mining operation [10][13] - The Ontenu Prospect is part of a larger mineralized corridor extending over 40 km northeast across the Kainantu District, with potential for large-scale copper-gold porphyry and epithermal vein targets [10][13] Future Plans - The company plans to commence drilling within the next month, targeting the identified epithermal Au-Cu veins based on ongoing mapping and sampling results [3][5]

Core Viewpoint - The National Court of Papua New Guinea has upheld an interim injunction that protects South Pacific Metals Corp.'s subsidiary, Kainantu Resources Limited, from interference by K92 Mining and the Mineral Resources Authority regarding Exploration Licence EL2558 [1][2]. Group 1: Injunction Details - The injunction restrains K92 Mining and the MRA from actions that interfere with KRL's exclusive rights over EL2558, including sterilization drilling and infrastructure development [2][6]. - The National Court has ordered that the injunctive relief remain in place until further notice and has awarded costs in favor of SPMC [2][3]. Group 2: Legal Background and Objectives - SPMC initiated legal action due to repeated instances of trespass and interference by K92 Mining on EL2558, aiming to safeguard its legal rights and maintain the integrity of its exploration programs [3][4]. - EL2558 is a key exploration focus for the company and may serve as a potential site for tailings storage if exploration proves non-economic [3]. Group 3: Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four significant projects [5][8]. - The company's projects, including Anga and Osena, are located within the high-grade Kainantu Gold District, indicating potential for valuable mineralization similar to that of K92 Mining [8].

Core Viewpoint - South Pacific Metals Corp. has secured an interim injunction from the National Court of Justice of Papua New Guinea to protect its exclusive exploration rights on the EL 2558 exploration licence, which is being contested by K92 Mining [2][4]. Legal Proceedings - Kainantu Resources Limited, a wholly-owned subsidiary of South Pacific Metals Corp., has initiated legal action against K92 Mining and the Mineral Resources Authority to affirm its exclusive rights to Exploration Licence EL 2558 under the PNG Mining Act 1992 [3]. - The company is seeking declaratory relief to confirm its status as the sole registered holder of the exploration licence and to assert its rights over surface and subsurface mineral exploration within the licence boundaries [3]. Objectives and Implications - The company aims to protect its legal rights and maintain the integrity of its exploration program, ensuring that the licence area remains free from unauthorized activities [4]. - EL 2558 is a key focus for the company's exploration initiatives, and if these programs are deemed non-economic, the area could serve as a potential tailings facility [4]. Upcoming Legal Developments - The matter is scheduled for an inter partes hearing on August 22, 2025, to determine whether the injunctive relief will continue [4]. Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four significant projects adjacent to major producers [5]. - The company's projects, including Anga, Osena, Kili Teke, and May River, are strategically located within the Kainantu Gold District and have the potential for high-grade mineralization similar to that of K92 Mining [6][8].

Core Viewpoint - South Pacific Metals Corp. has engaged two marketing and advertising service providers, Capital Analytica and 45 Degrees, to enhance its investor engagement and market presence, with agreements commencing on July 29, 2025 [1][2][4]. Group 1: Engagement of Service Providers - Capital Analytica will provide a marketing support program for six months, including capital markets consultation and social media engagement, for a cash compensation of $120,000 [2]. - 45 Degrees will offer advertising services, including Google Ads and social media distribution, for stock options and reimbursement of pre-approved advertising expenses [4][5]. - Both service providers are arm's-length entities with no direct or indirect interest in South Pacific Metals [3][5]. Group 2: Stock Options and Restricted Share Units - The company has granted a total of 575,000 stock options and 175,000 restricted share units (RSUs) to certain consultants, including those from Capital Analytica and 45 Degrees, effective July 29, 2025 [6][8]. - The stock options have an exercise price of $0.55 and are subject to various vesting provisions over a period extending to July 29, 2030 [7]. - The RSUs will vest in two tranches, with 137,500 vesting one year from the grant date and the remaining 37,500 vesting two years from the grant date [8]. Group 3: Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four key projects [11]. - The company's projects are strategically located near major producers, indicating potential for significant mineral discoveries [12].

Core Insights - South Pacific Metals Corp. is expanding mineralization at the Ontenu Central Prospect, part of the Osena Project, with a trenching and soil sampling program ahead of an imminent drilling campaign [1][3][5] Exploration and Drilling Plans - The company is preparing for drilling in the Westside Corridor at Ontenu Central, where mineralization continuity has been demonstrated over 1,000 meters with widths up to 80 meters [3][5] - The exploration program aims to connect various parts of the Ontenu area, indicating a large interconnected mineralization area of over 5 km by 3 km [3][5] - Drilling is expected to commence within weeks as the drill rig has arrived and is being commissioned [5][10] Trenching Results - The 2025 trenching program has yielded significant results, including: - 5 meters at 2.53 g/t Au within 87 meters at 0.41 g/t Au in trench ONT25TR-001 - 1 meter at 5.05 g/t Au within 50 meters at 0.35 g/t Au in trench ONT25TR-003 - 2 meters at 2.62 g/t Au within 30 meters at 0.46 g/t Au in trench ONT25TR-002, extending trench 1 to a total of 109 meters at 0.67 g/t Au [5][6][10] - The overall footprint of gold in soil anomalies now covers a 3 km by 5 km area, with significant geochemical signatures similar to K92 Mining's operations [5][12] Geological Context - Ontenu is located in the Kainantu Transfer Zone, which hosts the Kora-Judd vein system currently being mined by K92 Mining [5][19] - The mineralization is characterized by high-sulphidation epithermal Au-Cu targets, with strong associations of Au-Cu-Te-As [6][11] Regional Exploration - Ongoing reconnaissance and soil sampling at Ontenu Northeast have identified structures with previous results showing up to 10.3% Cu and 1.7 g/t Au [5][13] - The Osena Project covers 738 km² and is strategically located adjacent to K92 Mining's tenements, indicating potential for significant mineral discoveries [16][20]

Company Overview - South Pacific Metals Corp. (SPMC) has appointed Mr. Timo Jauristo as Chief Executive Officer, effective June 30, 2025 [1] - The company operates in Papua New Guinea's gold and copper production corridors, with a land package of 3,100 km² and four key projects: Anga, Osena, Kili Teke, and May River [6][7] Leadership Experience - Mr. Jauristo brings over 40 years of leadership experience in the mining sector, having previously served as Executive Vice President of Corporate Development at Goldcorp Inc. [2] - His past roles include senior executive positions at Placer Dome and other leading mining firms, focusing on global exploration and corporate strategy [2] Strategic Initiatives - The company is initiating its maiden drill program at the Osena project, with Mr. Jauristo expressing enthusiasm about leading the company during this pivotal time [3] - The company aims to advance its Osena and Anga Gold-Copper Projects and mobilize for drilling at the Ontenu Target, which is considered a significant milestone [3] Stock Options and RSUs - Effective June 30, 2025, SPMC granted stock options and awarded restricted share units (RSUs) to directors and officers, totaling 1,200,000 common shares [3] - The stock options consist of 200,000 options with an exercise price of $0.49, vesting over three years [4] - An additional 1,000,000 RSUs were awarded, also vesting over three years [5] Project Potential - The Anga and Osena Projects are located in the high-grade Kainantu Gold District, with potential for lode-gold and porphyry copper-gold mineralization [7] - Kili Teke is an advanced exploration project near the Porgera Gold Mine, with existing Inferred Mineral Resource and opportunities for expansion [7] - The May River Project is adjacent to the Frieda River copper-gold project, indicating potential for significant untapped gold mineralization [7]

Core Viewpoint - South Pacific Metals Corp. announces the resignation of Ms. Cathy Fitzgerald as an officer and director, effective July 11, 2025, highlighting her significant contributions to the company's growth and strategic direction [1][2]. Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four key projects: Osena, Anga, Kili Teke, and May River [4][5]. - The company is strategically located near major producers such as K92 Mining, PanAust, and Barrick/Zijin, focusing on rigorous technical programs to prioritize discovery [4][5]. Leadership Transition - Ms. Cathy Fitzgerald has played a pivotal role in shaping the company's exploration strategy and advancing key projects, with her leadership being crucial during a transformative period [2][3]. - Michael Murphy, Executive Chair of the Board, expressed gratitude for Fitzgerald's contributions and announced plans to oversee the launch of the company's inaugural drill program at the Osena Gold-Copper Project in Papua New Guinea [3]. Upcoming Initiatives - The company is set to commence its maiden drill campaign at the Osena Gold-Copper Project later this month, which is located in the Kainantu Gold Region [3].

Core Viewpoint - South Pacific Metals Corp. has appointed Mr. Timo Jauristo as a Strategic Advisor, bringing over 40 years of mining industry experience to the company, which is crucial as it enters a significant exploration phase [1][2][3] Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four key projects [4][6] - The company is strategically located near major producers such as K92 Mining and PanAust, enhancing its exploration potential [7] Leadership and Experience - Mr. Timo Jauristo has a notable background, having served as Executive Vice President of Corporate Development at Goldcorp Inc. and held senior roles at Placer Dome and other major mining companies [2] - His extensive experience in global exploration and project development is expected to benefit South Pacific Metals as it advances its projects [2][3] Strategic Initiatives - The company is focusing on its Osena and Anga Gold-Copper Projects, which are located in the Kainantu Gold District, known for high-grade mineralization [3][7] - Mr. Jauristo's involvement is seen as a key factor in unlocking the potential of these assets [3] Share Options - Mr. Jauristo has been granted 500,000 share options at a price of C$0.50 per share, exercisable for five years, with a vesting schedule over three years [3]

Core Insights - Sound Point Meridian Capital, Inc. (SPMC) has a strong track record of exceeding earnings estimates, particularly in the last two quarters, with an average surprise of 26.94% [1][5] - The company reported earnings of $0.62 per share for the most recent quarter, surpassing the expected $0.51 per share by 21.57%, and previously reported $0.86 per share against an estimate of $0.65 per share, resulting in a surprise of 32.31% [2] Earnings Performance - The positive earnings surprise history has led to an upward trend in earnings estimates for Sound Point Meridian Capital, indicating bullish sentiment among analysts [5] - The company currently has an Earnings ESP (Expected Surprise Prediction) of +3.33%, suggesting potential for another earnings beat in the upcoming report [8] Zacks Rank and Predictive Power - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) indicates a high likelihood of a positive earnings surprise, with historical data showing that nearly 70% of stocks with this combination beat consensus estimates [6][8] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions which may provide more accurate predictions [7]