July 13, 2016 – Vancouver, B.C. – Spearmint Resources Inc. (the “Company” or “Spearmint”) (TSX-V:SRJ) is pleased to announce the entry into a share purchase agreement to acquire all of the shares of an arm’s length private British Columbia corporation (the “Target”) which indirectly holds 53 unpatented mineral claims in Nevada that are prospective for lithium known as the Elon Property and the McGee Property. The Target holds a 100% interest in the Elon and McGee properties in Nevada which cover an aggregate area of 1420 acres.
James Nelson, Director of Spearmint states, “This is a great opportunity to be able to acquire two separate blocks bordering Pure Energy Minerals Clayton Valley project. Pure Energy is in the only known lithium bearing brine in North America that is in production and we very pleased to able to be right in this area.”
The closing of the Agreement is subject to certain closing conditions, including approval by the TSX Venture Exchange. In consideration for the acquisition of the Target, the Company has agreed to issue an aggregate of 12,700,000 common shares in the capital of the Company to the five arm’s length shareholders of the Target.
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On behalf of the Board of Directors:
Spearmint Resources Inc.
For further information, please contact: Tel: 1-604-646-6903 www.spearmintresources.ca
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Spearmint such as the statement that the Company may close the definitive agreement. There are numerous risks and uncertainties that could cause actual results and Spearmint’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) receipt of all third party consents and approvals, including the TSX Venture Exchange; (ii) the satisfaction of all closing conditions as set out in the agreement; and (iii) other factors beyond Spearmint’s control. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Spearmint assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.