South Pacific Metals clarifies marketing agreement with i2i Marketing Group

Vancouver, British Columbia--(Newsfile Corp. - September 2, 2026) - South Pacific Metals Corp. (TSXV: SPMC) (OTCQB: SPMEF) (FSE: 6J00) (" SPMC " or the " Company ") announces a correction to certain disclosure contained in its news releases dated June 5, 2026, June 16, 2026, and August 31, 2026 (collectively, the " Prior News Releases ") concerning the online marketing agreement dated June 5, 2026, as amended (the " Marketing Agreement "), between the Company and i2i Marketing Group, LLC (" i2i ").

Clarification of Securityholdings of i2i and its Authorized Individuals

The Company's news releases dated June 5, 2026, and August 31, 2026, each stated that, to the knowledge of the Company, i2i does not have any interest, directly or indirectly, in the Company or its securities, nor any right or present intention to acquire such an interest.

The Company confirms that the foregoing statement was incomplete insofar as it relates to the individuals authorized to provide services on behalf of i2i, and that statement should no longer be relied upon. The complete and accurate disclosure is as follows:

i2i Marketing Group, LLC does not hold, directly or indirectly, any securities of the Company, and will not acquire any securities of the Company.

Joseph Grubb, an authorized individual of i2i, indirectly holds 79,969 common shares of the Company and 39,984 common share purchase warrants of the Company, in each case held through a private corporation.

Kailyn White, an authorized individual of i2i, indirectly holds 75,030 common shares of the Company and 37,515 common share purchase warrants of the Company, in each case held through a private corporation.

The common shares and common share purchase warrants described above were acquired pursuant to a private placement offering of the Company that closed on February 3, 2025, being prior to the date of the Marketing Agreement. Each such warrant entitles the holder to acquire one common share of the Company at a price of $0.90 per share until February 3, 2027.

None of the securities described above was issued to i2i, to Mr. Grubb or to Ms. White as compensation for the services provided or to be provided under the Marketing Agreement. Consistent with the Prior News Releases, the Company has not issued, and will not issue, any securities to i2i as compensation for its services under the Marketing Agreement.

No Other Changes

Except as expressly clarified and corrected in this news release, the disclosure contained in the Prior News Releases in respect of the Marketing Agreement remains unchanged. The services to be provided under the Marketing Agreement consist of corporate marketing and investor awareness services, including content creation management, author sourcing, project management and media distribution. The Marketing Agreement remains subject to the acceptance of the TSX Venture Exchange.

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. SPMC common shares are listed on the TSX Venture Exchange (TSXV: SPMC), the OTCQB Marketplace (OTCQB: SPMEF) and the Frankfurt Stock Exchange (FSE: 6J00).

For further information please contact: Michael Murphy, Executive Chairman South Pacific Metals Corp. Tel: +1-604-260-0309 Email: info@southpacificmetals.ca

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.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the acceptance of the Marketing Agreement by the TSX Venture Exchange; the payment and expenditure of the Continued Media Budget; the anticipated nature, scope, timing and continuation of the corporate marketing and investor awareness services to be provided by i2i; and the intention of i2i, Mr. Grubb and Ms. White with respect to the securities of the Company. Forward-looking information is often, but not always, identified by words and phrases such as "anticipates", "expects", "intends", "plans", "believes", "estimates", "may", "could", "would", "will", "potential", "proposed", "subject to" and similar expressions.

Forward-looking information is based on the Company's current expectations, estimates, forecasts and projections, as well as assumptions that the Company considers reasonable as of the date of this news release, including assumptions regarding the Company's ability to obtain the required acceptance of the TSX Venture Exchange, the ability of i2i to provide the contemplated services, the accuracy of the information provided to the Company by i2i and its authorized individuals, and general business, economic and capital market conditions.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information, including: the risk that the TSX Venture Exchange may not accept the Marketing Agreement on the terms proposed or at all; the risk that the marketing and investor awareness services may be delayed, modified, suspended or terminated; the risk that media placements or investor awareness activities may not achieve the expected results; and the other risks described in the Company's public disclosure documents filed under its profile on SEDAR+ at www.sedarplus.ca .

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof, and the Company does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312619

TMX Newsfile

September 2, 2026 - 9:35 AM PDT

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