Mr. Michael Murphy reports

SOUTH PACIFIC METALS ENGAGES MARKETING SERVICES AND GRANTS STOCK OPTIONS

South Pacific Metals Corp. has entered into an on-line marketing agreement dated June 5, 2026, with i2i Marketing Group LLC, pursuant to which i2i will provide corporate marketing and investor awareness services to the company, including, but not limited to, content creation management, author sourcing, project management and media distribution.

The company has agreed to an initial creation and media budget of $300,000 (U.S.). Subject to acceptance of the agreement and the services contemplated thereunder by the TSX Venture Exchange, the services are expected to commence on or about June 12, 2026, and will continue until the initial media budget has been fully expended. Thereafter, the agreement may continue on a month-to-month basis for additional campaign expenditures as agreed upon by the parties in advance. The budget for any additional month will depend on market conditions, the company's requirements and the availability of services. Either party may terminate the agreement at any time on 10 days notice.

The initial media budget and any budgets for subsequent periods will be paid by the company to i2i in cash in advance. The company will not issue any securities to i2i as compensation for its marketing services.

i2i is a private company led by its principal, Joseph Grubb, and is based in Key West, Fla., United States. i2i is at arm's length to South Pacific Metals, and, to the knowledge of the company, i2i does not have any interest, directly or indirectly, in the company or its securities, nor any right or present intention to acquire such an interest.

Stock options

The company also announces that it has granted, effective June 5, 2026, an aggregate of 1.07 million stock options to certain directors, officers, employees and consultants of the company.

Each option is exercisable to acquire one common share of the company at an exercise price of 54 cents per share until June 5, 2031. The options vest as to one-third on the grant date, one-third on the first anniversary of the grant date and one-third on the second anniversary of the grant date.

The grant of the options is subject to the acceptance of the TSX Venture Exchange.

About South Pacific Metals Corp.

South Pacific is an emerging gold-copper exploration company operating in the heart of Papua New Guinea's proven gold and copper production corridors.

SPMC has four explorations properties:

• Ontenu (Osena) -- bordering K92 to the southwest; drilling under way on K92-style targets with surface assays up to 21 per cent copper, 13.9 grams per tonne gold, 645 g/t silver and 73 g/t Au defining kilometre-scale corridors;
• Anga -- bordering K92 to the northeast, along strike from the K92's Arakompa discovery; soils to 1,080 parts per billion Au, 3,397 ppm Cu and stream samples up to 281.8 g/t Au;
• Kili Teke -- 4.2 million ounces gold equivalent Natinoal Instrument 43-101 inferred resource; results outside of resource include drilling 7.8 metres of 12.98 per cent Cu plus 11.75 g/t Au; surface samples up to 27.5 per cent Cu;
• May River -- district-scale system beside Frieda River; high-grade drilling includes 19 m of 11.47 per cent Cu, 2.17 g/t Au and 109 m of 1.53 g/t Au.

South Pacific common shares are listed on the TSX Venture Exchange, the OTCQB marketplace and Frankfurt Stock Exchange.

Qualified person

The scientific and technical information disclosed in this news release has been compiled by company geologists and consultants and reviewed and approved by Darren Holden, BSc (honours) (geology), PhD, FAusIMM, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

Dr. Holden is a technical adviser to the company.

We seek Safe Harbor.