January 15, 2021 – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company”) wishes to announce the receipt of two more holes from the 10-hole drill program on the Clayton Valley Lithium Claystone project in Nevada. 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. Hole 9 returned a high value of 950 ppm Li from a total of 155 feet drilled. Results from the remaining 5 holes are expected to be returned from the lab shortly, including hole No.13, which encountered a substantial, approximate 260 feet of continuous targeted claystone starting at five feet from the surface.
James Nelson, President of Spearmint states, “This is great news to have such a strong consistent return of lithium over such a distance. This hole highlights the potential of Spearmint’s deposit and will aid in defining a planned potential resource calculation. These results come at a most opportune time as there has been extremely important news in Clayton Valley reported by Albemarle Corp (ALB—NYSE) who has publicly stated (Jan. 07, 2021) their plan to ‘expand capacity at the company’s lithium production facility in Silver Peak, Nev., 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.’ This is a tectonic event for lithium in Clayton Valley, to first have Elon Musk stating he wants to produce the lithium clays and now Albemarle. Spearmint is currently one of, if not the smallest market capitalized companies drilling into this lithium claystone formation in Clayton Valley. We share this blanket like lithium claystone formation with Cypress Development Corp. (CYP.v) and Noram Ventures Inc (NRM.v). Not only are these our best results to date, we are eagerly awaiting additional drilling results shortly on the remaining 5 holes, which have each encountered the targeted lithium claystone. We are very excited about the short and long-term growth prospects for Spearmint.”
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 news release. 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.
About Spearmint Resources
Spearmint’s current projects include the ‘Goose’ Gold project directly bordering New Found Gold Corp. (NFG.v) where Spearmint has sampled up to 973 ppb gold, as well as the ‘Clayton Valley Lithium Prospects’ in Nevada comprised of two claim blocks totaling 1,160 acres bordering Pure Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v) where Spearmint’s drill results have intersected Lithium values as high as 1,840 ppm Li; the ‘Escape Lake North’ PGM Project in Ontario consisting of ~4,000 contiguous acres directly bordering Clean Air Metals Inc. (AIR.v); the Case Lake South Cesium Project in Ontario consisting of ~7,300 acres directly bordering Power Metals Corp.’s (PWM.v) Case Lake Cesium Property; the River Valley East Platinum-Palladium Prospect in Ontario consisting of approximately 4,700 contiguous acres directly bordering New Age Metals (NAM:CSE) flagship River Valley Platinum Group Metals (PGM) project; the Carscallen West Gold Project in Ontario consisting of a ~2500 contiguous acres in the direct vicinity to Melkior Resources Inc. (MKR.v); the Perron-East Gold Prospects 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; and the ‘Chibougamau Vanadium Prospect’ comprising of 15,493 contiguous acres directly bordering the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project.
Spearmint’s current projects also include a portfolio of prospects in the Golden Triangle of British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of five separate claims blocks totaling 8,265 acres bordering GT Gold Corp (GTT.v), the 2,397 acre ‘NEBA’ Gold-Copper Prospects bordering Aben Resources Ltd (ABN.v), and the ‘EL North’ Nickel-Copper Prospect is a contiguous land package of 1,053 acres in the Eskay Creek Camp bordering Garibaldi Resources Corp (GGI.v), as well as the recent acquisition of the 4,980 acre ‘Prickle’ property bordering Brixton Metals Corp. (BBB.V).
Spearmint’s other projects in British Columbia include the ‘Safari’ Copper-Gold Prospect consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-Central BC, and the ‘Hammernose’ Gold Prospect consisting of 8,685 acres directly bordering Westhaven Gold Corp.’s (WHN.v) Shovelnose Property in the Spences Bridge Gold Belt located in Southern British Columbia, Canada. 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.
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Spearmint Resources Inc.
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