Spanish Mountain Gold Ltd.
TSX VENTURE : SPA

Spanish Mountain Gold Ltd.

September 20, 2011 08:00 ET

Spanish Mountain Gold Announces Don Coxe's Appointment to the Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Spanish Mountain Gold Ltd. (the "Company") (TSX VENTURE:SPA) is pleased to announce the appointment of Donald Coxe to the Company's board of directors. Mr. Coxe has more than thirty-nine years of institutional investment experience in North America and has maintained a highly visible presence in major business communities as an advisor to corporate boards and speaker for business conferences and industry events worldwide. He has been a strategic consultant to several major gold mining companies over the last decade.

Mr. Coxe is Strategy Advisor to BMO Financial Group and Chairman of Coxe Advisors LLP. His investment journal, Basic Points, published since 1992, and his conference calls are distributed exclusively to BMO clients in North America, Europe and Asia. Mr. Coxe also heads up the Global Commodity Strategy investment management team - a collaboration of Coxe Advisors and Harris Investments. He is advisor to the Coxe Commodity Strategy Fund and the Coxe Global Agribusiness Income Fund in Canada, and the Virtus Global Commodity Stock fund in the US.

Mr. Coxe has consistently been named as a top portfolio strategist by Brendan Wood International and was awarded a lifetime achievement award in 2011. He was ranked number one in the 2007, 2008 and 2009 surveys. Mr. Coxe's website: http://www.coxeadvisors.com provides more details on his impressive career and achievements.

Ian Watson, Chairman of the Board, said today: "We are delighted that Don Coxe has accepted our invitation to join the board of Spanish Mountain Gold. His reputation, experience and strategic advice will be of enormous help to the company, especially as it nears full feasibility and the financing for going into production."

The Company also announces that Don Sharp has elected to retire from the Company's board. Mr. Sharp has been a director since 2009 and has agreed to remain as an advisor to the Company for a period of twelve months following his retirement. The Company wishes to acknowledge Mr. Sharp's service and contributions to the board.

The Company's board of directors has authorized granting stock purchase options to certain directors and employees to acquire an aggregate of 1,325,000 common shares at an exercise price of $0.82 expiring September 20, 2016. The foregoing is subject to regulatory acceptance.

About Spanish Mountain Gold

Spanish Mountain Gold Ltd. is focused on the responsible development of its flagship Spanish Mountain gold project in southern central British Columbia, Canada. The Company has more than $20 million in working capital, has no debt and owns 100% of four gold properties located in British Columbia. Additional information about the Company is available on its website: www.spanishmountaingold.com.

On behalf of the Board,

SPANISH MOUNTAIN GOLD LTD.

Brian Groves, President and CEO

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Management has assumed that these will be our major projects going forward. Risks include that we are unable to satisfy environmental or other regulators, that we determine that our resources are not commercially viable, or that we have difficulties due to unavailability of labour or equipment.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information