South Pacific Metals Corp. Announces Change to Senior Management

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VANCOUVER, May 3, 2024 - South Pacific Metals Corp. (TSX-V:SPMC)(FSE:6J00) ("SPMC" or the "Company") is pleased to announce the appointment of Scott Kelly as the Company's Chief Financial Officer, effective immediately. Mr. Kelly's qualifications and experience make him a valuable addition to SPMC's senior management team.

Mr. Kelly is a management, accounting, and finance professional with over 20 years of experience providing senior level management, accounting, and financial services to various public and private companies with large scale resource assets throughout North and South America.

Mr. Kelly has assisted and managed companies through all stages from IPOs through to successful acquisitions by major multi-national corporations. He has acted as CFO of Marlin Gold Mining Ltd. and Mako Mining Corp., V.P. Finance for Pediment Gold Corp., CFO of Ely Gold Royalties, and serves as CFO for Dryden Gold Corp. Mr. Kelly obtained a Bachelor of Commerce degree from Royal Roads University in 2001.

The Company also takes this opportunity to thank the outgoing CFO, Martin Cooper, for his services and commitment to a seamless handover to Mr. Kelly.

Executive Chairman, Michael Murphy, stated "On behalf of the Company, I would like to welcome Scott to South Pacific's senior management team. He brings a wealth of industry experience to the Company and is an integral part of our plan going forward to execute growth strategies and initiatives to generate significant shareholder value."

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.