Re: News Release - Thursday, February 25, 2010
Title: Spanish Mountain Announces Closing of Financing

Spanish Mountain Gold Ltd. ("the Company") (SPA-TSXV) is pleased to report that it has closed the private placement which was announced on February 10, 2010. A total of 15,152,000 common share units (the "Units") were issued at a price of $0.33 per Unit for gross proceeds of $5 millions.

Each Unit consisted of one common share and one share purchase warrant (a "Warrant") of the Company. Each Warrant entitles the holder to purchase one common share for a period of three years at a price of $0.42.

All of the securities issued in connection with the private placement are subject to four month hold periods that expire on June 24, 2010. The proceeds of the private placement will be used to fund programs on the Company's Spanish Mountain and Spanish Creek properties and for general working capital. The private placement is subject to the final acceptance of the TSX Venture Exchange.

The Company also reports that it has granted options to acquire an aggregate of 1,100,000 common shares of the Company to an officer of the Company, at an exercise price of $0.37 until February 17, 2015. The foregoing is subject to regulatory acceptance.

About Spanish Mountain Gold

Spanish Mountain Gold Ltd is focused on advancing its flagship Spanish Mountain gold project in central southern British Columbia. The Company has a current cash position (excluding proceeds from foregoing) of $2.5 million and has applied for Mineral Exploration Tax Credit refund from the Province of British Columbia totaling $1.9 million. These funds are expected to be received in the first quarter of 2010.

On Behalf of the Board,
SPANISH MOUNTAIN GOLD LTD

Brian Groves, President

Contact:

Bill Gillies
(604) 601-3650

or

B&D Capital Partners
(604) 685-6465

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits, project cost overruns or unanticipated costs and expenses -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Spanish Mountain Gold Ltd.

	EXPLORATEUR
	CODE : SPA.V
	ISIN : CA8464811097

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Spanish Mountain Gold est une société d’exploration minière d'or basée au Canada.

Spanish Mountain Gold détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont SPANISH CREEK, PRINCE GEORGE PROPERTY, MANSON CREEK , SPANISH MOUNTAIN et SHG au Canada.

Spanish Mountain Gold est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 45,8 millions CA$ (33,4 millions US$, 31,2 millions €).

La valeur de son action a atteint son plus haut niveau récent le 19 juillet 2007 à 2,10 CA$, et son plus bas niveau récent le 29 janvier 2016 à 0,02 CA$.

Spanish Mountain Gold possède 218 114 373 actions en circulation.

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	Mine développement
	Découverte
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	Ancien producteur
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