South Pacific Metals intercepts 12 m at 3.1 g/t Au at Megabe, Ontenu NE

Drill hole ONED26-007 returns 12 m at 3.1 g/t Au, including 1 m at 18.1 g/t Au, at the new Megabe target; two rigs turning at Ontenu NE within the Osena Project, with a porphyry test being prepared at Ontenu Central; surface exploration and drill-target definition advancing at the Anga Project, adjacent to K92 Mining's operation; reconnaissance at May River secures community consent and site access Vancouver, British Columbia--(Newsfile Corp. - June 16, 2026) - South Pacific Metals Corp. (TSXV: SPMC) (OTCQB: SPMEF) (FSE: 6J00) ("SPMC" or "South Pacific Metals" or the "Company") is pleased to report new high-grade gold drill results from its Ontenu NE project and to provide a corporate update across its portfolio of gold-copper exploration projects in Papua New Guinea ("PNG"). Drill hole ONED26-007, the first hole testing the new Megabe target at Ontenu NE, returned 12 m at 3.1 g/t Au, including 1 m at 18.1 g/t Au . The Company has two diamond drills turning at Ontenu NE, within the Osena Project on the southwest border of K92 Mining Inc.'s Kainantu Gold Mine, while drill targeting is being finalised at the adjacent Ontenu Central prospect; surface exploration and drill targeting are underway at the Anga Project (northeast of, and adjacent to, K92); and field work is restarting at May River following a recent reconnaissance visit that secured community consent and confirmed site access.

Executive Chairman, Michael Murphy, commented: "This is an important stretch for SPMC. Two rigs are turning at Ontenu NE, where our first hole into the new Megabe target has returned high-grade gold, a porphyry test is taking shape at Ontenu Central, and we have completed a reconnaissance visit to May River that secured community consent and site access. We built this position deliberately, and