Ontenu Central Exploration Update: South Pacific Metals Extends Ontenu Central Mineralization over 1km in Preparation for Drill Program

Vancouver, British Columbia--(Newsfile Corp. - July 28, 2025) - South Pacific Metals Corp. (TSXV: SPMC) (OTCQB: SPMEF) (FSE: 6J00) ("SPMC" or the "Company") is pleased to provide an update on the Ontenu Central Prospect that forms part of its Osena Project located adjacent to K92 Mining Ltd.'s gold-copper producing mine in the Kainantu District of Papua New Guinea. The Company is conducting a trenching, reconnaissance and soil sampling program, ahead of imminent drill rig arrival. Rig commissioning and drill pad construction are underway.

Highlights from Ontenu Central

• Ontenu is located in the Kainantu Transfer Zone, which hosts the Kora-Judd vein system currently being mined by K92 Mining.

• The 2025 program is designed to expand the zone announced in 2024 which included:
  • 4m @ 4.52 g/t gold ("Au") within 79m @ 0.75 g/t Au in 2023/24 Trench 1

• New 2025 trench results received include:
  • 5m @ 2.53 g/t Au within 87m @ 0.41 g/t Au in ONT25TR-001
  • 1m @ 5.05 g/t Au within 50m @ 0.35 g/t Au in ONT25TR-003
  • 2m @ 2.62 g/t Au within 30m @ 0.46 g/t Au in ONT25TR-002, which when combined as an extension of Trench 1 (2024), is 109m @ 0.67 g/t Au

• New soil sample results are also expanding the Ontenu Central anomoly
  • The overall footprint of gold in soil anomalies (30ppb to >100ppb Au) now covers a 3 x 5 km area.
  • Analyses of multi-element work indicates mineralization with a similar geochemical signature to K92 Mining's operations in two main corridors, Westside & Central corridors, each >1000m long, and present as structural controlled high-sulphidation epithermal Au-Cu targets.

• A further 532m of trenches have been excavated and are awaiting completion of sampling and mapping at both Westside and Central Corridors at Ontenu Central

• Reconnaissance underway at Ontenu NE to map structures that previously returned up to 10.3% & 3.1% Cu & 1.7 g/t Au

• Drill rig has arrived in country and is being commissioned, with drilling expected to commence within weeks.

"The trenching program and ongoing mapping are providing crucial local geological information within our large mineralized footprint at Ontenu Central," said Timo Jauristo, CEO of South Pacific Metals Corp. "We will be targeting our first drilling in the Westside Corridor at Ontenu Central where mineralization continuity over 1,000m and widths up to 80m has been demonstrated. We are now linking together the various parts of the wider Ontenu area to demonstrate a large interconnected area of mineralization (over 5km x 3km). Ongoing exploration will also focus on the Central Corridor at Ontenu Central and Ontenu Northeast to define targets to be drilled after the Ontenu Central Westside drilling."

Ongoing Ontenu Central programs

Trenching

The Ontenu Central consists of two main north-south striking corridors each >1000m long with strong associations of Au-Cu-Te-As-Bi for high-sulphidation epithermal mineralization. In 2024, the Company announced trench results including 4m @ 4.52 g/t Au and 0.13% Cu within a wider mineralized zone of 79m @ 0.75 g/t Au (refer to news release dated August 27, 2024). The 2025 program has involved excavating trenches parallel and on either side of the 2024 trench. All trenches have intersected widespread mineralization in veins and hydrothermal breccia zones hosted in N-S microdiorite dykes and andesitic volcanics (Figure 1 & Figure 2).

Figure 1 - Trench Results from Westside Corridor, Ontenu Central

Figure 2 - Latest Trench Results from Westside Corridor at Ontenu Central

To date, results received and compiled are only gold fire assay results plus copper and silver, through Intertek in Lae, Papua New Guinea (refer to Table 1 in Appendix). Multi-element assaying is currently underway in Australia.

The trench program at the Westside corridor is continuing with extensions of ONT25TR-001 with a further 291m of trenching excavated and currently being sampled and mapped. A fourth trench (ONT25TR-004) has been excavated over 240m at the southern end of the Central Corridor and is being sampled and assayed (Figure 3 & Figure 4).

The Central and Westside Corridor, along with geological information obtained by the trenching indicates two strong wide structures anomalous in gold-copper and multi-element pathfinders extending over at least 1,000m strike length (Figure 3).

Regional Soil sampling and reconnaissance

The Company has continued with regional reconnaissance including soil sampling, mapping and rock sampling. Soil sampling at Ontenu North has extended previous historic work and connects a 30ppb gold in soil anomaly (with several zones >100ppb Au) extending 3km north-south (Figure 4).

The Company has commenced reconnaissance mapping and sampling at the Ontenu Northeast prospect, where previous results have identified structurally controlled Au-Cu-Te-As anomalies and rock chips previously returned up to 10.3% Cu & 1.7g/t Au (Figure 4 & refer to news release dated May 29, 2025).

Figure 3 - Geochemical compilation of Westside and Central Corridors at Ontenu Central

Figure 4 - Regional Anomalism of Rocks from Ontenu Central, Ontenu North, to Ontenu NE

Figure 5 - Regional Location Map

About the Osena Project

Covering 738 km² of strategic ground, the Osena Project is located southwest of and adjacent to K92 Mining's tenements that host the Kainantu Gold Mine. Priority prospects include Ontenu, a large-scale cluster of five intrusive clusters hosting epithermal gold-copper veins, skarn mineralization and porphyry gold-copper at depth extending over 5 km x 3 km. Recent results from Ontenu Central confirm gold-bearing breccias and veins. The Ontenu Prospect is one of many occurring within a highly mineralized corridor that extends more than 40 km northeast across the Kainantu District. More than half of the Osena Project tenure remains unexplored.

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 Mining'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 (TSXV: SPMC), the OTCQB Marketplace (OTCQB: SPMEF) and Frankfurt Stock Exchange (FSE: 6J00).

Quality Assurance and Quality Control

Rock Sampling & Trenches

Trenches are hand-dug to a depth of 1 to 1.5 metres. Sampling is conducted as 1m channel sample along the lower side of the trench. Trenching is logged similarly to a drill hole and recorded for rock type, alteration and signs of mineralization. Rock-chip samples are selective and collected by a Company geologist in the field. Samples are sent to the ITS (PNG) Ltd (Intertek) Laboratory in Lae. Gold assays were conducted using 50 g charge Fire Assay with Atomic Absorption Spectra finish (Intertek Code FA50/AA), with a detection limit of 0.01ppm. Samples >1ppm (1 g/t) Au were re-assayed as a check with no significant difference noted.

Multi-element assays were determined using four-acid digestion with Inductively Coupled Plasma Mass Spectrometry (ICPMS) (Intertek code 4A/MS48). Certified reference material, duplicates and blanks were inserted into the rock sample to monitor laboratory performance, with no significant variations from expected results.

Soil Sampling

Soil sampling involves sieving a c-horizon soil to a <2 mm in the field. Soil samples were sent to the ITS (PNG) Ltd (Intertek) Laboratory in Port Moresby for assay. Assaying for gold and other elements is determined by aqua regia digestion with a mass-spectrometry finish (Intertek code AR01/MS). Certified Reference Material, duplicates and blanks are inserted in the soil sample 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 reviewed and approved by Darren Holden, Ph.D., FAusIMM, a "Qualified Person" as defined in 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: ongoing exploration and future exploration programs, including results therefrom and impact thereof. 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 exploration, 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

Table 1. 2025 Trench Results Received to Date

Note: some samples pending Cu & Ag results; all samples pending full suite multi-element assays. (Coordinates in WGS84 Zone 55).