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 now in its best financial position in corporate history with approximately $3 million in the treasury and will be very active on multiple projects throughout the remainder of 2021 with a robust stream of news flow.

In recent news, has just received its drill permit from the Bureau of Land Management (BLM) for the ‘McGee Lithium Clay Project’ on which Spearmint’s Technical Report includes a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,06,000 tonnes of Lithium Carbonate Equivalent (LCE). In addition, Spearmint has achieved 83% lithium extraction from preliminary metallurgical Testing results on its ‘McGee 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 August 17, 2021, Pure Energy Minerals Ltd. partner Schlumberger New Energy (SLB – NYSE) announced receiving approval from the Bureau of Land Management (BLM) for a plan of operations covering the construction and operation of a pilot plant at Pure Energy’s Clayton Valley, Nevada, lithium brine project, which Spearmint directly borders. 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.
  • On November 10, 2021, Cypress Development Corp. announced it “commenced extraction testing of lithium-bearing claystone from the company’s 100-per-cent-owned Clayton Valley lithium project in Nevada. The test work is ongoing at Cypress’ pilot plant in Amargosa Valley, Nevada, and utilizes chloride-based leaching combined with the Chemionex Lionex process for Direct Lithium Extraction (DLE).”

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/

With lithium prices breaking out, increasing by over 100% in 2021 alone, focus on the commodity is clearly on the rise as demonstrated.

Spearmint also expects to be drilling in December 2021 on its Perron-East Gold Project in Quebec, using Flow-through funds from a private placement for $1 million at .20 including certain funds managed by Sprott Asset Management LP. This project is located in the direct vicinity of Amex Exploration Inc. (AMX.v) who has an approximate $250 million market capitalization.

In addition, Spearmint Resources is underway with a phase II work program on the 100% owned ‘Goose’ Gold Project in Newfoundland. Previously, Spearmint discovered positive gold indicators with values as high as 973 ppb gold from the Phase I work program. This project directly borders, and is the closest to, the discovery made by New Found Gold (NFG.v). New Found Gold had recent drill intercepts of 92.9 g/t Au over 19.0m which was one of the best drill intercepts globally in 2020.

As you can see, management is very optimistic about the remainder of 2021 and beyond.

Recent News

Spearmint Receives Drill Permit for the Perron-East Gold Project in Quebec

November 26, 2021 – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) is pleased to announce that the application for a permit to conduct exploration drilling on the Perron-East Gold Project has been approved by the Quebec Ministry of Forests, Wildlife and Parks. Spearmint’s 100-percent owned Perron-East gold project in Quebec is located in the direct vicinity of Amex Exploration Inc. (AMXEF – USA, AMX – TSX.V) and Starr Peak Mining Ltd. (STRPF – USA, STE – TSX.V).  On November 11, 2021, Amex Exploration Inc. announced significant drill results including 44.8 m of 8.25 g/t gold (Au) and 64.75 m of 1.22 g/t gold (Au) at Perron.  On November 2, 2021, Starr Peak Mining Ltd. announced significant drill results from its ongoing 2021 drilling campaign with multiple VMS intersects up to 6.65% zinc-equivalent over 13.45 m, including 3.83 per cent Cu over 2.25 m. 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.

Laurentia Exploration, the same geological team who’ve conducted significant drill programs for both Amex and Starr Peak, will be overseeing all aspects of Spearmint’s upcoming drill program on the Perron-East Gold Project. Previous work programs on the Perron-East gold project have discovered multiple soil anomalies and an Induced Polarization (IP) survey over these anomalies have defined the highest priority drill targets. Spearmint is fully funded for this drill program using funds from a flow-through financing of $1 million dollars at twenty cents completed in May 2021, which included a lead investment by certain funds managed by Sprott Asset Management LP (“Sprott”). Spearmint expects to begin this much anticipated and fully funded drill program in December 2021.

James Nelson, President of Spearmint Resources stated, “We are very pleased to have now received the drill permit for the Perron-East gold project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd.  Both of these companies have recently undertaken significant drill programs utilizing the same geological team (Laurentia Exploration) that will be conducting Spearmint’s drill program.  This drill program is expected to commence in December 2021 and is fully funded using $1 million of flow-through funds already on hand, which included a lead investment by certain funds managed by Sprott Asset Management LP.  Mr. Sprott is one of the savviest junior mining investors in the world and we are pleased with their participation in Spearmint.  Management also expects to commence another major drill program shortly on our ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada, with the goal to build upon our 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).  Spearmint shares this blanket like lithium claystone formation with Cypress Development Corp. (CYDVF – USA, CYP – TSX.V) and lithium prices are currently at all-time highs.  Spearmint has approximately $3 million in the treasury with no need to raise additional funds and we expect to have two major drill programs started before the end of the year.  We are about to enter a major news flow cycle and expect the remainder of 2021 and beyond will be an extremely active period for Spearmint with potential catalysts coming ahead on multiple projects.”

 

Qualified Person

Mr. Hugues Guerin Tremblay, P.Geo. (OGQ #1584), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The Qualified Person has not completed sufficient work to verify the historic information on the Property and vicinity, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

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 received a drill permit & expects to begin drilling a phase III program in December 2021 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 300% in 2021 alone

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

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

7

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

8

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

9

Phase II work program is NOW UNDERWAY 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)

10

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

11

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

12

Spearmint expects to begin drilling in December 2021 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

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)

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.

Nevada Lithium Properties

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)

The “CLAYTON VALLEY LITHIUM PROJECTS”

In recent news, Spearmint has discovered Lithium in all 10 out of 10 drill holes of the phase II drill program on its Clayton Valley Lithium Clay Project in Nevada 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.

Spearmint Resources Inc. announced that the first phase of exploration drilling, completed in 2018 on its Clayton Valley Lithium Clay Project, has intersected lithium values as high as 1,670 ppm Li.  The three holes drilled into the clay formation all intersected lithium.  Hole 1 had a range of 1670-396 ppm Li over 270 feet averaging 835 ppm Li, including 35 feet averaging 1,140 ppm Li.  Hole 2 had a range of 1570-250 ppm Li averaging 642 ppm Li over 220 feet including 20 feet of 925 ppm Li.  Hole 3 had a range of 1280-429 ppm Li averaging 772 ppm Li over 195 feet including 998 ppm Li over 20 feet.

Spearmint Resources Inc. has two separate claim blocks in Nevada that are prospective for lithium known as the Elon (brine) property and the McGee (clay) property which cover an aggregate area of 1,160 acres. These two separate claim blocks border Pure Energy Minerals’ (PE.v) Clayton Valley project and Cypress Development Corp’s (CYP.v) property. Pure Energy is in the only known lithium-bearing brine in North America that is in production and Spearmint is very pleased to be in this area. Historic and recent drill programs in adjacent and nearby properties are suggestive of the potential for the discovery of lithium-bearing brines & clay.

Quebec, Ontario & Newfoundland Gold Properties

The “GOOSE GOLD PROJECT”

Spearmint Resources has discovered positive gold indicators with values as high as 973 ppb gold from its recently completed phase I work program on the 100% owned ‘Goose’ Gold Project. This project directly borders, and is the closest to, the discovery made by New Found Gold (NFG.v). New Found Gold had recent drill intercepts of 92.9 g/t Au over 19.0m which was one of the best drill intercepts globally in 2020. The Trans-Canada Highway runs just south of the ‘Goose’ Project providing year-round access.

Spearmint Resources Inc. has discovered positive gold indicators on its Goose gold project, directly bordering New Found Gold Corp.’s Queensway project in Newfoundland, with its phase I work program. The phase I rock and soil sampling program saw the collection of 185 soil samples and 21 rock samples across the Goose gold property, located in central Newfoundland roughly one km northwest of New Found Gold Corp.’s Keats zone discovery which returned 92.85 grams per tonne Au over 19.0 metres. The high-resolution soil grid had 50 m spaced samples along 100 m spaced lines and provided detailed geochemical coverage over the property, representing the first known work on the asset to date. The results of the survey highlight three distinct gold-in-soil anomalies located in the northeast, southeast and western parts of the property. The anomaly straddling the western property boundary is oriented in a north-south direction and has a non-continuous strike length of 600 m and 250 m. In addition, one select float grab sample of a mafic volcanic unit with stockwork quartz-carbonate veining throughout returned 973 parts per billion gold. 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.

The company is extremely pleased with the phase I results considering the Goose property’s proximity to the Keats zone discovery and is planning an immediate follow-up program to expand on the phase I results. During the planned phase II program, additional soil sampling will be completed over the multiple gold-in-soil anomalies identified expanding the high-resolution grid in these areas to include 25 m by 25 m spacing. Additionally, hand trenching of the highest magnitude anomalies from the phase I program will be completed in order to determine the bedrock source of mineralization. The ultimate plan is to advance the property to a trench and drill-ready stage within the coming weeks.

The “PERRON-EAST GOLD PROSPECT”

A phase I work program is currently underway on Spearmint Resources Inc.’s Perron-East Gold Prospects consists of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec. These claims are situated in the direct vicinity of Amex Exploration Inc.’s (AMX.v) Perron property and past-producing Normetal mine, and one claim block is directly bordering Osisko Metals Inc. The Perron-East Gold property covers prospective ground for orogenic gold and polymetallic VMS-(volcanogenic massive sulphide)-style mineralization in a region well known for its gold occurrences and historical production.

The Perron property is in proximity to the past-producing Normetal mine, from which approximately 10.1 million tonnes grading 2.24% copper, 5.41% zinc, 0.526 g/t gold and 44.45 g/t silver were extracted periodically between 1937 and 1975, with development down to a depth of approximately 2.4 kilometers (SIGEOM — Mine Normetal). Furthermore, on February 6 and February 13, 2020 Amex Exploration Inc. announced additional significant drill results from Perron including 2.19 g/t Au over 23.6 m and 29.4 g/t Au over 8.5 m.

The “CARCALLEN WEST GOLD PROJECT”

Spearmint Resources Inc. has acquired the Carscallen West Gold Project in Ontario consisting of a ~2500 contiguous acres. This new project is prospective for gold located in the Abitibi Greenstone belt and in the direct vicinity of the town of Timmins and to Melkior Resources Inc. (MKR-TSX.v) and Pan American Silver (PAAS-NASDAQ,TSX). During the past 100 years the Timmins area has produced over 70 million ounces of gold, making it one of the richest gold camps in Canada. Timmins is also home to Kidd Creek, one of the largest VMS ore deposits in the world. In a news release dated May 7, 2020, Melkior Resources Inc. (MKR-TSX.v) announced drill results including intercepts of six metres of 25.7 g/t Au at Carscallen.

Ontario Cesium Prospects

The “CASE LAKE SOUTH CESIUM PROSPECT”

Spearmint has acquired has acquired the Case Lake South Cesium Prospect in Ontario consisting of approximately ~7,300 contiguous acres. These new claims are directly bordering Power Metals Corp.’s (PWM:TSX.v) Case Lake Cesium Property located in the Larder Lake Mining Division in Northeast Ontario. This new prospect is accessible year-round with proximity to the Translimit road that connects Ontario to Quebec. In a news release from November 13, 2018, Power Metals Corp.’s (PWM:TSX.v) announced Cesium grades as high as 14.7 per cent Cs2O (cesium oxide) over 1.0 metre in drill hole PWM-18-126 on their Case Lake Cesium Property. Cesium is extremely rare globally. The United States Department of the Interior included cesium, lithium and vanadium on its list of critical minerals (USGS website, dated May 18, 2018), of which, Spearmint has projects that explore for each of these critical metals.

Ontario Platinum/Palladium Properties

The “ESCAPE LAKE NORTH PGM PROJECT”

Spearmint Resources Inc. has acquired the ‘Escape Lake North’ PGM Project in Ontario, Canada consisting of approximately 2,500 contiguous acres. This new project is prospective for platinum group metals (PGM) and is located near existing infrastructure in a mining-friendly jurisdiction just north of Thunder Bay, Ontario. This new project directly borders Clean Air Metals Inc.’s (AIR.v) Thunder Bay North Project PGM deposit. Clean Air is led by Jim Gallagher, Executive Chair who was most recently CEO of North American Palladium Ltd. (NAP) at the time NAP was sold to Implats for $1B.

The “RIVER VALLEY EAST PLATINUM-PALLADIUM PROSPECT”

Spearmint Resources Inc. has acquired the ‘Escape Lake North’ PGM Project in Ontario, Canada consisting of approximately 2,500 contiguous acres. This new project is prospective for platinum group metals (PGM) and is located near existing infrastructure in a mining-friendly jurisdiction just north of Thunder Bay, Ontario. This new project directly borders Clean Air Metals Inc.’s (AIR.v) Thunder Bay North Project PGM deposit. Clean Air is led by Jim Gallagher, Executive Chair who was most recently CEO of North American Palladium Ltd. (NAP) at the time NAP was sold to Implats for $1B.

The “RIVER VALLEY EAST PLATINUM-PALLADIUM PROSPECT”

Spearmint Resources is pleased to announce that it has acquired the River Valley East Platinum-Palladium Prospect in Ontario consisting of approximately 4,700 contiguous acres. These new claims are directly bordering New Age Metals (NAM:CSE) flagship River Valley Platinum Group Metals (PGM) project which hosts a magmatic contact-hosted platinum-palladium-gold PGE Deposit located in northeastern Ontario, approximately 60 km northeast of Sudbury. According to a New Age Metals’ news release dated August 08, 2019, their PEA highlights a Life of Mine (LOM) of 14 years, with 6 million tonnes annually of potential process plant feed at an average grade of 0.88 gram per tonne (g/t) palladium equivalent (PdEq) and process recovery rate of 80 percent, resulting in an annual average payable PdEq production of 119,000 ounces.

James Nelson, President of Spearmint, stated “The acquisition of the River Valley East prospect significantly adds to Spearmints asset base and positions us well in the burgeoning PGM boom. The mining community seems to have now woken up to the potential underlying value of New Age Metals River Valley project and we are excited to now have a footprint directly bordering them in this PGM district at a time when PGMs are experiencing a significant surge in price. Management is currently formulating plans for this new prospect and is expecting a very active 2020.”

On May 21 and June 3, 2019, Amex Exploration announced significant drill results from its Perron property, which include 32.2 g/t Au over 5.90 m and 30.98 g/t Au over 8.50 m. The Perron property is in proximity to the past-producing Normetal mine, from which approximately 10.1 million tonnes grading 2.24% copper, 5.41% zinc, 0.526 g/t gold and 44.45 g/t silver were extracted periodically between 1937 and 1975, with development down to a depth of approximately 2.4 kilometers (SIGEOM — Mine Normetal). Furthermore, on July 30 and September 19, 2019, Amex Exploration Inc. announced additional significant drill results from Perron including 27.46 g/t Au over 4.9 m and 16.48 g/t Au over 14.6 m.

B.C. Properties

The “GOLDEN TRIANGLE GOLD PROSPECTS”

Spearmint Resources Inc. has acquired a 100-per-cent interest in five separate gold prospects totaling 8,265 acres. The Gold Triangle prospects are all located in the Golden Triangle gold district in British Columbia. Some of these claims directly border GT Gold Corp’s (GTT.v) Saddle (Tatogga Lake) prospect, which was the area of the impressive gold intercepts of 9.55 grams per tonne gold over 40.89 meters reported on September 4, 2018, and the drill results of 430 m of 1.3 g/t AuEq at Saddle announced on September 10, 2018. The Golden Triangle is a world-class mining district with a renewed market focus and we are optimistic about what this region may provide for Spearmint’s growth strategy. Results from a sampling survey announced on August 9, 2019 returned significant assay values of 264 ppb Au (gold) and 1740 ppm Cu (copper).

The “NEBA PROSPECTS”

Spearmint Resources Inc. has acquired a 100 percent interest in the 6,805 acre ‘NEBA’ Prospects in the Golden Triangle of British Columbia, directly bordering Aben Resources Ltd (ABN.v). Spearmint Resources work programs on its NEBA Golden Triangle property are continuing. The company has just finished an airborne survey completed by Precision GeoPhysics and the data are currently being analyzed. Additional work programs will be formulated with these data and the highest-priority drill locations will be targeted. The NEBA property directly borders Aben Resources Inc.’s (ABN.v) Forest Kerr project in the Golden Triangle of British Columbia. On August 9, 2018, Aben announced significant drill results over an interval of 38.7 grams per tonne gold over 10.0 metres, including 62.4 grams per tonne gold over 6.0 m, starting at 114 metres downhole. Spearmint’s property is the closest of any company to the Forest Kerr discovery. Results from a sampling survey announced on August 13, 2019 returned assay values as high as 112 ppb Au (gold), 2.6% Zn (zinc) and 1.9 g/t Ag (silver) on the NEBA Prospects.

The “EL NORTH NICKEL-COPPER PROSPECTS”

Spearmint Resources Inc. has acquired a 100 percent interest in the “EL North” Nickel-Copper Prospects in the world-renowned Eskay Creek Mining Camp in the Golden Triangle of British Columbia. This land package totals 1,053 acres directly bordering Garibaldi Resources Corp (GGI.v). Garibaldi announced on September 1, 2017 that they “intersected two long intervals of nickel-copper sulphide mineralization totaling 176 meters and consisting of pyrrhotite-pentlandite-chalcopyrite in the first drill hole…”

The “SAFARI COPPER-GOLD PROSPECT”

Spearmint Resources Inc. has acquired the “Safari Prospect”, a claims package consisting of 9,007 contiguous acres located in the northern Quesnel Trough in north-central British Columbia. The Quesnel Trough hosts numerous porphyry copper-gold deposits and are accessible by road from the city of Fort St. James, British Columbia. Results from a sampling survey announced on October 30, 2019 returned significant assay values as high as 0.3 g/t Au (gold), 2.7 g/t Ag (silver) and 0.23% Cu (copper) on the Safari Prospect.

The “PRICKLE PROSPECT”

Spearmint Resources Inc. has acquired the ‘Prickle’ claims package consisting of 4980 contiguous acres directly bordering Brixton Metals Corp.’s (BBB.V) Thorn project in the Golden Triangle of British Columbia.

James Nelson, President of Spearmint stated, “This is an exciting development for Spearmint. We are very pleased to be able to have acquired this strategic claim block in the Golden Triangle of British Columbia. There has been a flurry of activity in the area recently and yesterday Brixton (BBB.V) announced some fantastic drill results on their ‘Thorn’ property consisting of 554 m of 1.97 G/T AuEq. Our ‘Prickle’ prospect directly borders this new discovery. The Golden Triangle is one of the most prolific world-class mining regions in which Spearmint maintains a district size land position. We have been very active this summer and will continue to develop our projects to maximize shareholder value.”

The “HAMMERNOSE GOLD PROSPECT”

Spearmint Resources Inc. has acquired the ‘Hammernose’ Gold Prospect consisting of 8,685 acres directly bordering Westhaven Gold Corp.’s (WHN.V) Shovelnose Gold Property in the Spences Bridge gold belt (SBGB) located in Southern British Columbia, Canada. On October 2, 2018, Westhaven released high-grade drill results at its Shovelnose project intersecting 1.65 meters of 175 grams per tonne gold and 249 g/t silver, and recognition of visible gold in five drill holes. On Oct. 31, 2018, Westhaven reported high-grade drill results of 46.20 meters (m) of 8.95 g/t gold (Au) and 65.47 g/t silver (Ag), including 5.00m of 14.70 g/t Au and 215.00 g/t Ag at Shovelnose. Results from a sampling survey announced by Spearmint on July 18, 2019 returned assay values as high as 94 ppb Au (gold) and 391 ppm Cu (copper) on the Hammernose Prospect.

The SBGB is a 200-kilometer-long-by-30-kilometer-wide emerging low-sulphidation epithermal gold belt that is believed to be highly prospective and underexplored. Interpreted to be a failed cretaceous rift basin, it is believed the belt is prospective for Fruta del Norte style high-grade epithermal mineralization. It is close to major transportation routes and infrastructure allowing for cost-effective exploration. The SBGB is a 110-kilometer northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge group.

Quebec Vanadium Properties

The “CHIBOUGAMAU VANADIUM PROSPECT”

Spearmint Resources Inc. has a 100-per-cent interest in the ‘Chibougamau vanadium prospect’ comprising of 15,493 contiguous acres in the direct vicinity of Lac Chibougamau, Quebec. This property directly borders BlackRock Metals’ (private) Ilmenite vanadium project and Vanadium One Energy Corp.’s (VONE.v) Mont Sorcier vanadium project, putting Spearmint in the heart of the expanding Chibougamau mining district’s vanadium circle. Vanadium has garnered significant market attention recently as the use of vanadium in battery storage is gaining momentum and Spearmint is very pleased to be able to acquire a significant footprint in one of Canada’s best-known vanadium districts. On August 21, 2018, the Government of Quebec announced a $248-million investment in the BlackRock Metals Vanadium Project and the development of the Grande-Anse sector. Operations are now underway on this prospect. Preliminary results obtained over Spearmint’s Chibougamau Vanadium Prospect have shown a sharply defined magnetic anomaly measuring approximately 600 x 300 meters.

During November and December 2018, the Spearmint conducted drone and heliborne airborne magnetic geophysical surveys totaling 932 line-km over an area totaling approximately 3,400 hectares at 100-metre line-spacing. Data collected from this inaugural airborne survey shows the presence of multiple sharply defined areas of northeast-trending magnetic susceptibility, including an anomaly measuring 9km in length. A follow-up work program is being formulated to further investigate these anomalies and determine whether they will be vanadium bearing like that of our neighbor BlackRock Metals.

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. Greg Thomson, 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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