South Pacific Metals Corp. Announces Changes to Board of Directors

VANCOUVER, April 24, 2024 - South Pacific Metals Corp. (TSXV:SPMC; FSE:6J00) ("SPMC" or the "Company") is pleased to announce the appointment of Cathy Fitzgerald as an independent, non-executive director of the Company and the appointment of Michael Murphy as Executive Chairman of the Company, effective immediately.

Ms. Fitzgerald is an experienced executive and professional geologist who brings over 20 years of experience in technical leadership roles structuring, leading, and managing teams that deliver work programs across multiple commodities at various stages of the exploration life cycle. Ms. Fitzgerald is currently the Vice President, Exploration and Resource Development for Apollo Silver Corp., and previously served as Director Resource Evaluation, Ivanhoe Electric (formerly High Power Exploration). In addition to joining the board, Ms. Fitzgerald will take an active role in formulating SPMC's exploration strategy.

In connection with Ms. Fitzgerald 's appointment, the Company also announces that David Loretto is stepping down as a director. The board of directors of the Company now consists of Michael Murphy, Dain Currie, Geoff Lawrence, and Cathy Fitzgerald.

"We are appreciative of David's efforts and all that he has done for the Company and would like to thank him on behalf of the rest of the Board. We wish him well on all his future endeavours," stated Executive Chairman, Michael Murphy. "I would like to welcome Cathy to the Board, her level of experience and knowledge in strategic development and execution in the natural resource and commodity sectors is a valuable addition to the Board as South Pacific looks to advance the potential of its projects."

Mr. Murphy is an accomplished executive with an established track-record of transformational leadership within in the metals and mining sector. He is the founder of TSX-listed Torex Gold Resources Inc. ("Torex"), a gold producer company with a market capital in excess of one billion dollars. Mr. Murphy spent a successful 12-years on the board of Torex, during which he played a pivotal role in raising over one billion dollars of debt and equity. Prior to Torex, Mr. Murphy spent 15 years in London, United Kingdom, in the financial services sector, with Merrill Lynch, DLJ, and Credit Suisse.

Adam Clode, Interim CEO of SPMC, commented, "We are delighted with the appointment of Michael Murphy as Executive Chairman, as he is a seasoned industry expert and has already made an impact since joining South Pacific as a director. With his profound experience in mining and finance, we are confident in his ability to provide invaluable insights and strategic direction as we steer our Company's growth trajectory to create value for shareholders. Michael's expertise, coupled with the addition of Cathy to the Board, will undoubtedly strengthen our efforts as we advance and optimize our operations in the dynamic mining sector."

About South Pacific Metals Corp. (SPMC)

SPMC is an Asia-Pacific focused copper and gold exploration company with four highly prospective projects: KRL South, KRL North, Kili Teke and the May River Project. All projects are located in premier exploration mining regions in Papua New Guinea. KRL South and KRL North both have the potential to host copper-gold porphyry and high-grade epithermal mineralisation, similar to that being currently mined in the adjacent high-grade Kainantu Gold District. Kili Teke is an advanced exploration project only 15 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 adjacent to the world-renowned Frieda River Copper-Gold Project, and historical drilling indicating there is potential for a significant copper-gold mineralized system. SPMC has a highly experienced leadership team with experience working together in the region and with established in-country partners.

For further information:

Adam Clode, Interim Chief Executive Officer (Tel: 604.649.2350)
Email: info@krl.com.sg

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer and Forward-Looking Information

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property. 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, including SPMC's strategic plan for the near and mid-term. There can be 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. Accordingly, readers should not place undue reliance on forward-looking information. SPMC does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE: South Pacific Metals Corp.