Spanish Mountain Gold Ltd.

Spanish Mountain Gold Ltd.

November 17, 2011 08:30 ET

Spanish Mountain Gold Engaged Proconsul Capital as Investor Relations Consultant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2011) - Spanish Mountain Gold Ltd. ("the Company") (TSX VENTURE:SPA) is pleased to announce that it has engaged Proconsul Capital Ltd. ("Proconsul") to act as an investor relations consultant.

The Company engaged Proconsul, founded by Andreas Curkovic, to develop and implement a public and investor relations program which includes communicating with analysts and other professionals and enhancing the Company's exposure to industry stakeholders and investors. Proconsul's engagement is automatically renewable on a monthly basis, subject to termination by either party on thirty days notice. The Company will pay a monthly fee of CAD$5,000 and reimburse Proconsul all reasonable expenses incurred in connection with the fulfillment of its obligations. In addition, the Company shall grant Proconsul incentive stock options to acquire up to 100,000 common shares of the Company at an exercise price of $0.85 per share for a term of two years, subject to the provisions of the Company's stock option plan.

Other than the grant of the aforementioned stock options, Proconsul neither holds any securities of the Company nor has any interest, direct or indirect, in the Company. Proconsul or its principals do not engage in market making activities and will restrict its services to public relations and investor relations counseling. The Company's engagement of Proconsul is subject to the acceptance of the TSX Venture Exchange.

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 $19 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:

On Behalf of the Board,


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.

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