Spanish Mountain Gold Ltd.

Spanish Mountain Gold Ltd.

May 25, 2010 08:00 ET

Ian Watson Announces Purchase of Units of Spanish Mountain Gold Ltd.

LONDON, UNITED KINGDOM--(Marketwire - May 25, 2010) - Ian Watson today announced that he has purchased 1,125,000 common shares of no par value ("Common Shares") in Spanish Mountain Gold Ltd. ("Spanish Mountain") (TSX VENTURE:SPA), representing approximately 0.92% of the issued and outstanding Common Shares, at a purchase price of C$0.41 per share for total consideration of C$461,250. As a result of this transaction, Mr. Watson, a director of Spanish Mountain, beneficially holds 11,893,640 Common Shares, representing approximately 9.75% of the issued and outstanding Common Shares. Mr. Watson also beneficially holds a total of 10,403,640 warrants entitling Mr. Watson to purchase 10,403,640 Common Shares.

The Common Shares were acquired by Mr. Watson for investment purposes in a market transaction. Mr. Watson may from time to time increase or decrease his holdings of Common Shares or other securities of Spanish Mountain.

Contact Information

  • For further information, or to obtain a copy of the early
    warning report filed under applicable securities laws,
    please contact: Ian Watson
    +44 20 7408 2002
    Anthony Gordon
    +44 20 7408 2002