Spearmint Resources Inc. announced the Company has completed its 2023 drill program on the 100-per-cent owned, Chibougamau project. The project is composed of two separate contiguous blocks, the West block (14 claims totaling 776.59 hectares) and the East block (5 claims totaling 277.32 hectares) for a total of 1,053.82 hectares, and is located in the direct vicinity of Lac Chibougamau, Quebec, Canada. The drill program was composed of 4 NQ-sized drillholes for a total of 757 metres realized in the east block and targeting major features highlighted by vertical gradient of the residual magnetic field.

The first hole of the campaign, SP-23-001, encountered three pegmatite intervals of 15.1, 8.1 and 2.8 meters long from 19.5 metres downhole. Assays from those pegmatites are pending to evaluate the potential of those dykes. The third drillhole, SP-23-003, intersected a large sequence of alternating anorthosite and gabbro in which 0.5 metre quartz vein containing 0.5% chalcopyrite from 138.0 to 138.50m was encountered.

The last Hole, SP-23-004, encountered several types of intrusion passing from anorthosite to a homogeneous fine gabbro followed by alternance of felsic to intermediate intrusion until the end of hole at 183 metres. On June 17, 2022, the Company announced that it has received the updated Technical Report and Mineral Resource estimate for the 100% owned McGee Lithium Clay Deposit in Clayton Valley, Nevada. The Technical Report included an updated Mineral Resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, more than doubling the maiden resource estimate announced on June 11, 2021.

The Technical Report and Mineral Resource Estimate was prepared by Derek Loveday, P.Geo. and Mariea Kartick, P.Geo. of Stantec Consulting Services Ltd. ("Stantec") in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and were reported in accordance with the Canadian Securities Administrators NI 43-101.

The quality assurance and quality control protocols will include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regard 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.