Spanish Mountain Gold Announces Stock Option Grants to Employees and Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2012) - Spanish Mountain Gold Ltd. ("the Company") (TSX VENTURE:SPA.V - News) announces that the Board of Directors has authorized granting of annual incentive stock options to employees and directors of the Company to acquire an aggregate of 2,350,000 common shares of the Company. The options have an exercise price of $0.55 per share, exercisable until April 23, 2017. The foregoing is subject to regulatory acceptance.

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 a strong cash position with no debt and owns 100% of four gold properties located in British Columbia. Additional information about the Company is available on its website: www.spanishmountaingold.com

On Behalf of the Board,

SPANISH MOUNTAIN GOLD LTD.

Brian Groves, President and CEO