June 18, 2021 – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company”) is pleased to announce that it is now underway with its 2021 work program on the 100-percent owned ‘Escape Lake North’ PGM Project in Ontario, Canada consisting of approximately 4,000 contiguous acres. This 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 project directly borders Clean Air Metals Inc.’s (“Clean Air”; AIR-TSX.v) Thunder Bay North Project PGM deposit and is intersected by three northwest trending faults (the Hicks Lake Fault, East Dog River Fault, and Astrop Creek Fault) and is partially cross-cut by the regional east-west Lasseter Lake Fault. Clean Air has a mineral resource for its Thunder Bay North Project including a total Indicated resource of 16,285,396 tonnes at an average grade of 3.5 g/t PdEq containing 1,834,158 ounces PdEq and a total Inferred resource of 9,852,138 tonnes at an average grade of 2.1 g/t PdEq containing 663,660 ounces PdEq and are currently in the midst of a 40,000-metre drilling program.
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 property.
James Nelson, President of Spearmint Resources stated, “We are extremely excited to have begun this initial work program on our ‘Escape Lake North’ project directly bordering Clean Air Metals (AIR-TSX.V) in an area hosting a world class PGM deposits. This marks the third work program we are currently in the process of undertaking for the summer. Crews are currently underway on our gold project in Quebec in the direct vicinity of Amex Exploration Inc. (AMX-TSX.v) and Starr Peak Mining Ltd. (STE-TSX.v), and we expect to begin work on our ‘Goose’ Gold Project in Newfoundland directly bordering New Found Gold Corp. (NFG-TSX.v) very shortly. We are well funded for all three Canadian work programs including flow-through funds which include an initial investment by certain funds managed by Sprott Asset Management LP. We are very optimistic about the future of platinum group metals (PGM) and look forward to starting up operations on this project as well as the remainder of 2021 and beyond in terms of corporate growth for Spearmint.”
Mr. Scott Jobin-Bevans (Ph.D, PMP, P.Geo), a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.
About Spearmint Resources
Spearmint’s current projects include the ‘Clayton Valley Lithium Projects’ in Nevada comprised of two claim blocks totaling 1,160 acres directly bordering Pure Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v) where Spearmint has recently discovered lithium in all 10 out of 10 drill holes, intersecting lithium values as high as 1,840 ppm Li; the ‘Goose’ Gold project directly bordering New Found Gold Corp. (NFG.v) where Spearmint has sampled up to 973 ppb gold; 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 the 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 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; and the ‘Chibougamau Vanadium Project’ 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 Project bordering Aben Resources Ltd (ABN.v), and the ‘EL North’ Nickel-Copper Project is a land package of 1,053 acres in the Eskay Creek Camp bordering Garibaldi Resources Corp (GGI.v), as well as the 4,980 acre ‘Prickle’ property bordering Brixton Metals Corp. (BBB.V).
Spearmint’s other projects in British Columbia include the ‘Safari’ Copper-Gold Project consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-Central BC, and the ‘Hammernose’ Gold Project 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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