Spearmint Resources Inc. (“SRJ” or the “Company”) (SRJ—TSX.V) (SPMTF—OTCBB) wishes to announce that the geological crew has informed Spearmint that the results from the Clayton Valley Lithium property has been received by the lab and the results are expected within 7-10 days
This property consists of 880 acres of unpatented mineral claims in Nevada. These claims are located directly to the east of Pure Energy Minerals Ltd’s (PE—TSX Venture) current brine drill program and directly bordering to the south of Pure Energy Minerals Ltd and Cypress Development (who recently signed a deal with Pure for that property). Historic and present drilling programs in adjacent and nearby properties are suggestive of the potential for discovery of lithium-bearing clay/brines. A total of 91 samples have been sent to the lab for lithium grade testing. We expect the samples to come back from the lab in the next week and at that point we can assess the next phase of drill or work program.
James Nelson, Director of Spearmint states, “We are very pleased to be days away from our results. We eagerly await these and are very pleased with the renewed interest coming back into Clayton Valley. We feel the Clayton Valley is the prime address for lithium in North America hosting the only brine in production currently owned by Albemarle, and the only company (Pure) that has a deal with Telsa (TSLA—Nasdaq). We are pleased to be in the thick of all this with a market cap that is significantly lower than most in this valley.”
Spearmint Resources Inc. management continues to actively evaluate additional corporate growth drivers. The new areas that will be investigated will potentially include, but will not be limited to additional mining areas such as base metals, agriculture, edibles, beverages and medical situations. At this time, no new project has been contemplated, and there is no guarantee that one will be acceptable and approved by the board. SRJ has also granted 200,000 stock options at an exercise price of $0.05 to directors, officers and consultants for a 3 month term pursuant to its Rolling Stock Option Plan.
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Spearmint Resources Inc.
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