The purpose of this study was to examine the presence of excellence gaps (i.e., differences between subgroups of students performing at the highest levels of achievement) in a sample of 563 students nominated as gifted by their teachers in urban, semi-urban, and rural settings in Spain. In general, the results suggested the existence of excellence gaps between urban and rural students, with urban students outperforming rural students in verbal and numerical reasoning, as well as in all divergent thinking dimensions (i.e., fluency, flexibility, originality, and elaboration). Differences across geographic locations were likely to be attributed to the limited opportunities available to high-achieving students to develop their talents and achieve excellence in rural schools. Limitations of the study, directions for future research, and educational implications of the study are provided.