https://www.businesswire.com/news/home/20260420860122/en/Spanish-Mountain-Gold-Announces-Sale-of-a-1.5-Royalty-to-Wheaton-Precious-Metals-for-US%2455-Million

VANCOUVER, British Columbia--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the “Company” or “Spanish Mountain Gold”) (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to announce that it has entered into a royalty agreement (the “Royalty Agreement”) with Wheaton Precious Metals Corp. (“Wheaton”), pursuant to which Wheaton will acquire a 1.5% net smelter returns royalty (“NSR”) on gold and silver production from the Spanish Mountain Gold Project (the “Project”) for aggregate cash proceeds of US$55 million, to be paid in three installments (the “Transaction”).

Wheaton Precious Metals Announces Record Revenue, Earnings and Cash Flow for the First Quarter of 2026

Record Financial Performance and Strong Balance Sheet

• First quarter of 2026: A record $901 million in revenue, a record $582 million in net earnings, a record $583 million in adjusted net earnings, and a record $766 million in operating cash flow.
• Declared a quarterly dividend¹ of $0.195 per common share, an 18% increase from Q1 2025.
• Balance Sheet: Cash balance of $2.2 billion.

High Quality Asset Base

• Streaming and royalty agreements on 22 operating mines and 26 development and other projects⁵.
• 80% of attributable production from assets in the lowest half of their respective cost curves^2,4.
• Delivered attributable gold equivalent production³ ("GEOs") of 212,000 ounces in the first quarter of 2026, a 22% increase relative to the comparable period of the prior year primarily due to increased production from Peñasquito, Antamina and Blackwater coupled with the recommencement of production at Aljustrel.
• Further de-risking of industry leading forecast growth profile with advancement of construction activities at a number of projects, including Mineral Park, Platreef, Fenix, El Domo, Kurmuk, and Koné.
• Received first deliveries related to the Hemlo, Fenix and Mineral Park precious metals purchase agreements ("PMPAs").
• On February 16, 2026, the Company entered into the previously announced PMPA with BHP Group Limited ("BHP") for their 33.75% portion of the silver produced at the Antamina mine located in Peru. The transaction was subsequently closed on April 1, 2026.
• Subsequent to the quarter:
  • On April 1, 2026, the Company entered into a PMPA with KGL Resources Limited ("KGL") for a portion of the gold and silver produced at the Jervois project located in Australia. In return, the Company also obtained a right of first refusal on any future precious metal streams, royalties, prepays or similar transactions with respect to the Jervois Project.
  • On April 20, 2026, the Company entered into a Royalty agreement with Spanish Mountain Gold Limited ("Spanish Mountain Gold") for a 1.5% net smelter returns royalty on gold and silver production from the Spanish Mountain Gold project. In return, the Company also obtained a right of first refusal on any future precious metal streams, royalties, prepays or similar transactions with respect to the Spanish Mountain Gold Project.

  
  

Wheaton Precious Metals Announces Second Quarter 2026 Results and Record Year-to-Date Production,