South Pacific Metals Corp. Provides Corporate Update

Vancouver, BC / Accesswire / June 10, 2024 – South Pacific Metals Corp. (TSXV:SPMC)(FSE:6J00) ("SPMC" or the "Company") has announced the grant of 600,000 stock options. These options are exercisable over a five-year period at CA$0.51 per share. The beneficiaries include various directors, senior officers, and consultants of the Company. The options will vest over three years.

SPMC is focused on gold and copper exploration in the Asia-Pacific region. The Company operates four projects: KRL South, KRL North, Kili Teke, and the May River Project. These projects are located in Papua New Guinea, known for its rich mineral resources.

KRL South and KRL North are situated in the Kainantu Gold-Copper Mineral District, adjacent to K92 Mining Inc.'s tenements. Both host significant porphyry copper-gold and epithermal-style gold mineralization. Kili Teke is near the Porgera Gold Mine and presents opportunities for expansion. The May River Project is close to the Frieda River Copper-Gold Project, hinting at potential for notable mineralization.

SPMC's leadership team has extensive experience in the region and maintains strong in-country partnerships.