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

Rhea-AI Summary

South Pacific Metals (OTCQB: SPMEF) reported additional rock chip assays from new mineralised structures at the Ontenu NE prospect on October 6, 2025. Key assays include 13.9 g/t Au & 388 g/t Ag, 3.68 g/t Au & 302 g/t Ag, and 3.36 g/t Au & 302 g/t Ag, plus 11 samples in the 0.1–1.0 g/t Au range with up to 184 g/t Ag and 0.26% Cu. Ontenu NE now has at least six mapped mineralized structures over several hundred metres with coincident As-Au-(Cu) soil anomalies up to 1,200 m. These northwest-trending structures expand the September 17, 2025 discovery and are described as epithermal Au-Cu targets. Mapping, sampling, trenching and drill planning are underway, with the company stating drilling will begin in the coming month and further assays pending.

Positive

• 13.9 g/t Au rock chip returned
• 388 g/t Ag associated with highest Au sample
• At least 6 mineralized structures mapped over several hundred metres
• 1,200 m long coincident As-Au-(Cu) soil anomaly
• Drill planning underway to test targets in the coming month

Negative

• Most trench/rock-chip samples are narrow (0.3–0.5 m) surface veins
• 11 samples in bulk report 0.1–1.0 g/t Au, indicating grade variability
• Results are surface rock chips; no drilling results yet to confirm continuity

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:

Michael Murphy, Executive Chair
or
Investor Relations
South Pacific Metals Corp.
Tel: +1-604-653-9464
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.

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.

Sample  ID	Easting	Northing	Elevation	Description	Au (g/t)	Ag  (g/t)	Copper (ppm)
E21070	365639	9295498	1709	0.5m wide breccia with smoky quartz veins	13.9	388	218
E21056	365767	9295380	1712	30-50cm vein with pyrite-sphalerite-galena	3.68	302	320
E21067	365637	9295512	1706	Oxidised breccia with siliceous zones and sulphides	3.36	15	169
E21058	365766	9295383	1713	1.5m x 0.5m quartz boulder (proximal to source) with pyrite-sphalerite-galena	0.478	184	565
E21062	365676	9295437	1699	30-50cm vein with pyrite-sphalerite-galena	0.476	37	224
E21053	365750	9295386	1693	30-50cm vein with pyrite-sphalerite-galena	0.405	65	110
E21063	365680	9295442	1698	Siliceous quartz (float) with pyrite-sphalerite-galena	0.374	7	2680
E21059	365703	9295410	1696	30-50cm vein with pyrite-sphalerite-galena	0.347	9	2384
E21066	365638	9295515	1705	Oxidised breccia with siliceous zones and sulphides	0.34	9	111
E21049	365579	9295399	1687	Silica flooded graphitic share with pyrite / poss galena/sphalerite	0.195	4	53
E21060	365680	9295420	1698	0.8m wide fault gouge / flour structure with clay-pyrite	0.181	14	132
E21051	365646	9295419	1701	Gossanous structure with quartz+pyrite	0.172	8	79
E21065	365639	9295516	1704	1m wide breccia in mylonitic graphitic shale with pyrite-sphalerite-galena	0.154	11	68
E21069	365639	9295502	1708	0.5m wide gossanous lode	0.138	3	87

 

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FAQ

What assays did South Pacific Metals (SPMEF) report at Ontenu NE on October 6, 2025?

Rock chips include 13.9 g/t Au & 388 g/t Ag, 3.68 g/t Au & 302 g/t Ag, and 3.36 g/t Au & 302 g/t Ag, plus other samples 0.1–1.0 g/t Au.

How large are the soil anomalies at Ontenu NE reported by SPMEF?

Coincident As-Au-(Cu) soil anomalies extend up to 1,200 metres in NW-SE and N-S orientations.

When will South Pacific Metals (SPMEF) start drilling Ontenu NE targets?

The company said drill planning is underway and expects to start drilling in the coming month.

How many mineralized structures has SPMEF identified at Ontenu NE?

At least 6 mineralized structures have been mapped over several hundred metres.

Do the Ontenu NE rock-chip results include copper values for SPMEF?

Yes; some samples returned copper up to 0.26% Cu and earlier reported samples included up to 1.2% Cu.

Are the Ontenu NE results from drilling or surface sampling for SPMEF?

The reported results are from surface rock-chip sampling and mapping; drilling results are not yet available.