Thank you for your interest in Spearmint Resources Inc.

CSE:SPMT | OTC:SPMTF | FSE:A2AHL5

Thank you for your interest in SPMT – Spearmint Resources Inc.

There are many compelling developments coming ahead for the Company. Spearmint is currently in its best financial position in corporate history with approximately $3 million in the treasury and will be very active on multiple drill programs, with a robust stream of news flow as we enter 2022 with a full head of steam.

In recent news,  Spearmint has NOW STARTED DRILLING on its 100%-owned ‘Perron-East Gold Project’ in Quebec, using Flow-Through funds raised in a $1 million Private Placement at .20, of which, the participants included certain funds managed by Sprott Asset Management LP.

Spearmint has NOW STARTED DRILLING on its 100%-owned ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada with the goal to increase the maiden resource estimate by using the drilling recommendations provided by Stantec in the Technical Report.

On June 11, 2021, Spearmint Resources announced a maiden resource estimate including 1,006,000 Tonnes of Lithium Carbonate Equivalent (LCE) on the ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada, USA. The Technical Report including the maiden resource estimate was prepared by Stantec Consulting Ltd. in accordance with the requirements of National Instrument 43-101. Here is a link to the complete Technical Report & maiden resource estimate: https://www.spearmintresources.ca/wp-content/uploads/2021/06/CVLC-Project-NI-43-101-TR_June_10_2021_Final.pdf

On May 14, 2021, Spearmint has achieved 83% lithium extraction from preliminary metallurgical Testing results on its Lithium Clay Project in Clayton Valley, Nevada. A recent phase II drill program discovered lithium in all 10 out of 10 drill holes achieving a 100% success rate, directly bordering Cypress Development Corp. (CYP-TSX.v). During this phase II drill program, Spearmint has discovered its highest drill core lithium values to date of 1,840 ppm Li (see map) & Hole-6 returned the best results achieved to date with an average lithium value of 966 ppm Li over 220 continuous feet, including a high value of 1490 ppm.

Results from the final 5 drill holes include:  Hole #11 hitting a high of 1490 parts per million lithium (ppm Li) within 235 feet averaging 817 ppm Li, including 110 feet averaging 1020 ppm Li starting at 20 feet from surface. Hole #12 hit a high of 1370 ppm Li within 105 feet averaging 1042 ppm Li, starting at 10 feet from surface. Hole #10 had a high of 1360 ppm Li. Hole #13 hit a high of 1320 ppm Li within 200 feet averaging 845 ppm Li, including 70 feet averaging 1026 ppm Li starting at 5 feet from surface. Hole #14 hit a high of 1730 ppm Li within 225 feet averaging 900 ppm Li, including 55 feet averaging 1046 ppm Li starting at 15 feet from surface.

Recent news regarding the Clayton Valley of Nevada:

  • On Tesla Battery Day, held on September 22, 2020, Tesla’s Elon Musk announced their intention to acquire Nevada lithium clay projects and their overwhelming need to secure domestic lithium deposits to feed their Gigafactory.
  • On January 7th, 2021, Albemarle Corp (ALB—NYSE) announced their plan to ‘expand capacity at the company’s lithium production facility at Silver Peak in Clayton Valley, Nevada., and begin a program to evaluate clays and other available Nevada resources for commercial production of lithium, a critical mineral and key component in advancing green mobility and a more sustainable future’’.
  • On March 18, 2021, Pure Energy’s strategic partner Schlumberger New Energy Venture (NYSE: SLB) “announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy. The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. This innovative process can create new market opportunities for lithium extraction and battery manufacturing economy and maximize the value of the lithium-rich resource base in Nevada with cutting-edge extraction technology.
  • On June 10, 2021, Schlumberger (SLB–NYSE) and Panasonic Energy of North America announced a collaboration agreement to optimize and validate a lithium extraction and production process to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in the Clayton Valley using Pure Energy’s land.  Spearmint’s ‘Elon Lithium Brine Project’ lies directly in the deepest part of this basin that this work is being conducted (see map). According to Schlumberger’s news “Neolith Energy’s objective will be to pump brine from the subsurface, extract greater than 90% of the dissolved lithium, and pump more than 85% of the brine back to the subsurface in an environmentally safe manner. In addition to maximizing the reinjection of the brine, the goal is to eliminate the need for any freshwater from an external source and reduce the environmental impact.”
  • On December 7, 2021, Cypress Development Corp. announced it completed a successful pilot plant start-up for extraction testing of lithium-bearing claystone from the company’s 100-per-cent-owned Clayton Valley lithium project in Nevada.

The following link contains further comments from Elon Musk regarding Nevada lithium clay deposits:https://cleantechnica.com/2020/11/24/elon-musk-shares-battery-vehicle-updates-at-european-conference-1000-kilometer-range-vehicle-under-development/

Lithium prices are up over 500% since the start of 2021 alone & have broken out to ALL-TIME highs.

Spearmint has NOW STARTED DRILLING on its 100%-owned ‘Perron-East Gold Project’ in Quebec, using Flow-Through funds raised in a$1 million Private Placement at .20, of which the participants included certain funds managed by Sprott Asset Management LP. ​Laurentia Exploration, the same geological team who’ve conducted significant drill programs for both Amex Exploration Inc. and Starr Peak Mining Ltd., will be overseeing all aspects of Spearmint’s drill program.

Work programs to date on the 100%-owned ‘Perron-East Gold Project’ in Quebec have discovered multiple soil anomalies. An Induced Polarization (IP) survey over these anomalies has been conducted and several high-priority targets for drilling have been identified. This project is located in the direct vicinity of Amex Exploration Inc. (AMX.v) who has an approximate market capitalization over $250 million.

In addition, Spearmint Resources has discovered positive gold indicators with values as high as 973 ppb gold from the Phase I work program on its 100% owned ‘Goose’ Gold Project. A phase II work program, the ground magnetic survey allowed the identification of a major NE-trending magnetic lineament. This project directly borders, and is the closest to, the Keats zone discovery made by New Found Gold Corp. (NFG.v). New Found Gold had recent drill intercepts of 146.2 g/t Au over 25.6m, which is one of the best drill intercepts globally in 2021. This latest high-grade gold assay result represents the deepest gold intercept returned to date at Keats, driving NFG’s share price over $13 per share ​in June 2021.

As you can see, management is very optimistic about 2022 and would be happy to explain the company’s game plan.

Please visit the company’s website for a complete list of  projects. If you would like to be added to Spearmint’s mailing list, please send an email to [email protected]

As you can see, management is very optimistic about 2022 and beyond.

Recent News

Spearmint Drills Longest Continuous Clay Intercept to Date on the McGee Lithium Clay Project in Clayton Valley, Nevada

January 21, 2022 – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) is pleased to announce that the first drill hole (hole #15) of the phase III drill program on Spearmint’s 100-percent owned ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada has encountered 562 feet of continuous potential lithium-bearing claystone, directly bordering Cypress Development Corp. (CYP – TSX.v, CYDVF – USA) and Pure Energy Minerals Limited (PE – TSX.v, PEMIF – USA).  To date, this is the longest clay intercept discovered on the ‘McGee Lithium Clay Project’ and the farthest step-out hole to the West, approximately 2,500 feet from any previous drill hole.

On June 11, 2021, Spearmint received the Technical Report on its ‘McGee Lithium Clay Project’ which included a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of lithium carbonate equivalent (LCE). The Technical Report was prepared in accordance with the requirements of National Instrument 43-101 by Stantec Consultant Ltd.’s qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo). The goal of this drill program will be to increase the maiden resource estimate by following the drilling recommendations provided by Stantec in the Technical Report. Spearmint’s two other lithium projects in Clayton Valley, Nevada include the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres, and the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America. Lithium prices continue to make new all-time highs and have increased by over 500-percent since the start of 2021.

James Nelson, President of Spearmint Resources stated, “We are extremely pleased to have discovered our longest continuous intercept of potential lithium-bearing claystone to date on our flagship project, the McGee Lithium Clay Project in Clayton Valley, Nevada. Not only has hole #15 been our longest clay intercept, but hole #15 is also located the farthest away from any previous drill hole at an approximate distance of 2,500 feet to the West. If this hole runs at economic grades of lithium, similar to what we’ve already drilled, it could potentially increase our resource estimate significantly. This is one of the longest continuous intercepts of claystone reported to date in the Clayton Valley of Nevada. We are off to a fantastic start on this phase of drilling, especially when you consider lithium prices are at all-time highs.”

McGee Lithium Clay Project – Hole #15

As seen on the map below, Cypress Development Corp. and Spearmint share this blanket-like, lithium-bearing claystone formation that Spearmint’s drill program is targeting. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

 

Qualified Person

Mr. Frank Bain, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

About Spearmint Resources

Spearmint’s primary projects include three lithium projects in Clayton Valley, Nevada; the ‘McGee Lithium Clay Project’ which has a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of lithium carbonate equivalent (LCE), directly bordering Pure Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v); the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres.

Spearmint’s other primary projects include the ‘Goose’ Gold project directly bordering New Found Gold Corp. (NFG.v) where Spearmint has sampled up to 973 ppb gold, and the Perron-East Gold Project consisting of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.’s (AMX.v) Perron property and past-producing Normetal mine. For a complete list of Spearmint’s projects please visit spearmintresources.ca. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

If you would like to be added to Spearmint’s news distribution list, please send your email address to [email protected]

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

“James Nelson”
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

Company Highlights

1

Spearmint has NOW STARTED DRILLING a phase III program with a goal to increase it maiden resource estimate on the 'McGee Lithium Clay Project' in Clayton Valley, Nevada

2

Lithium prices are currently at ALL-TIME HIGHS, up over 500% since the start of 2021

3

Spearmint's Clayton Valley Lithium Clay Project 43-101 Technical Report includes a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of Lithium Carbonate Equivalent (LCE)

4

Spearmint discovers lithium in all 10 out of 10 drill holes from its phase II drill program including its highest lithium drill core values to date of 1840 ppm Li & the best intercepts achieved to date with an average lithium value of 966 ppm Li over 220 continuous feet, including a high value of 1490 ppm on the Clayton Valley Lithium Clay Project in Nevada

5

Not only did Spearmint's phase II drill program have strong, consistent results, the drilling showed that the lithium is very near the surface which would be optimal versus deeper projects

6

In 2018, phase I drilling on the Clayton Vally Lithium Clay Project intersected lithium values as high as 1,670 ppm Li, directly bordering Cypress Development Corp. (CYP-TSX.v)

7

Spearmint Achieves 83% Lithium Extraction from Preliminary Metallurgical Testing on its Lithium Clay Project in Clayton Valley, Nevada, a necessary step towards determining a potential resource calculation

8

Spearmint has acquired the "Green Clay Lithium Project" in Clayton Valley, Nevada

9

On Tesla Battery Day, held September 22, 2020, Tesla's Elon Musk announced their intention to acquire Nevada lithium clay projects and their overwhelming need to secure domestic lithium deposits to feed their Gigafactory

10

Spearmint has joined the Clayton Valley Lithium Advisory Committee (CVLAC)

11

Spearmint Closes Private Placement for $1 Million at .20 Including Certain Funds Managed by Sprott Asset Management LP

12

Spearmint has NOW STARTED drilling on the 11,608 acre Perron-East Gold Prospects located in the Abitibi greenstone belt of northwestern Quebec, in the direct vicinity of Amex Exploration Inc.’s (AMX.v) Perron property and past-producing Normetal mine

13

During a phase II work program, the ground magnetic survey allowed the identification of a major NE-trending magnetic lineament on the 100%-owned "Goose Gold Project" where Spearmint has discovered positive gold indicators with values as high as 973 ppb gold from its phase I work program directly bordering the discovery made by New Found Gold (NFG.v)

Current Projects Overview

Thank you for your interest in Spearmint Resources Inc. Spearmint Resources is a Canadian junior resource exploration company dedicated to the aggressive pursuit of world-class mineral deposits. The company is focused on assembling a portfolio of low-risk, high-reward properties at the exploration stage, and developing them so as to maximize shareholder value. Several upcoming project milestones make this an exciting time period for Spearmint’s corporate growth potential. As you can see there are many compelling reasons to look at Spearmint immediately.

Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties. Mr. Frank Bain, P.Geo., a director of Spearmint and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this website.

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2905 – 700 West Georgia Street
Vancouver, BC, V7Y 1C6

Mailing Address

P.O Box 10112
Pacific Centre
Vancouver, BC, V7Y 1C6

Contact Details

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P. (604) 646-6903

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