Spearmint closes acquisition of two BC mineral properties

Jan 12, 2018

Spearmint Resources Inc. (“SRJ” or the “Company”) (SRJ—TSX.V) (SPMTF—OTCBB) (A2AHL5–FSE) wishes to announce that it has closed the acquisition and now owns 100 percent of the WHY WEST Magnesium project near Rossland, BC, and the BUDDY claims in the Golden Triangle of BC.

The BUDDY claims directly border the EL North claims currently held by Spearmint. These claims are directly bordering Garibaldi Resources Corp. (GGI—TSX Venture) in the Golden Triangle of BC. This prospect consists of approximately 4,400 contiguous acres.

James Nelson, President of Spearmint states, “Adding these two new projects shows the commitment SRJ management has to growing the company. Both of these areas may constitute a key building block of Spearmint going forward. The golden triangle of British Columbia has proven to be a global focus of mining and we are looking forward to the upcoming 2018 drill season. We recently announced a financing which we expect to close shortly which includes flow-through funds that will be implemented in BC and for the Québec vanadium claims. We are also expecting to commence operations on our Clayton Valley Lithium Projects shortly, making 2018 the most active year in many for Spearmint.”

Terms of the private placement are hard dollar at $0.05 with a full 3 year warrant at $0.08 and flow through at $0.065 with a full two year warrant at $0.1 (announced December 7, 2017). A finders fee may be paid on this placement. If you have any questions regarding this placement please call toll free at 1 855 646 6901 or email [email protected].

About Spearmint Resources

Spearmint’s current projects include a portfolio of lithium prospects. The ‘Clayton Valley Lithium Prospects’ of Nevada, comprising of two claim blocks totaling 800-acres bordering Pure Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v). We also have three lithium projects in Quebec, including the 4,485-acre ‘Pressiac Lithium Prospect’, the 524-acre ‘Whabouchi Lakes Lithium Prospect’, and the 2,636-acre ‘Whabouchi Lakes West Lithium Prospect’ in the vicinity of Nemaska Lithium Inc. (NMX.t) & Critical Elements Corp. (CRE.v).

Spearmint’s ‘Chibougamau Vanadium Prospects’ comprise of five separate claim blocks totalling 9,735-acres bordering, or in the direct vicinity of, the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project, Vanadiumcorp Resource Inc. (VRB.v) and Vanadium One Energy Corp. (VONE.v).

Spearmint’s current projects also include three areas of focus on gold in British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of four separate claim blocks totaling 4,095-acres bordering GT Gold Corp (GTT.v), the ‘Gold Mountain Prospects’ comprising of three separate claim blocks totaling 1,245-acres bordering Barkerville Gold Mines (BGM.v), and the 3,052 acre ‘Neba Prospect’ bordering Aben Resources Ltd (ABN.v). Spearmint’s 8,482 acre ‘EL North’ Nickel-Copper Prospect is a contiguous land package that includes the ‘EL North, EL North 2

If you would like to be added to Spearmint’s news distribution list or wish to participate in the financing, please send your email address to [email protected].

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca
[email protected]

“James Nelson”
President
Spearmint Resources Inc.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

Spearmint Resources (SRJ.V) Private Placement:

.05 cent hard dollar with a full three year warrant at .08
.065 cent flow through with a full two year warrant at .1
Raising $750k hard dollar and $250k flow through
Hard dollar portion will be used to drill our Clayton Valley, Nevada lithium project bordering Cypress Development and Pure Energy, which returned samples as high as 1600ppm this past March.
Flow through portion will be used to fund operations on our three separate Golden Triangle projects as well as our Quebec Vanadium project
A Finder’s Fee will be payable to applicable finders

If you have any questions on this placement feel free to call me anytime.

I appreciate your time and consideration.

James Nelson

604 646 6903

[email protected]

ABOUT SPEARMINT:

Thank you for your interest in Spearmint Resources Inc. Spearmint Resources is a Canadian junior resource exploration company dedicated to the aggressive pursuit of world class mineral deposits. The company is focused on assembling a portfolio of low risk, high reward properties at the exploration stage and developing them so as to maximize shareholder value. Several upcoming project milestones make this an exciting time period for Spearmint’s corporate growth potential. As you can see there are many compelling reasons to look at Spearmint immediately.

Spearmint’s current projects include a portfolio of lithium projects comprising of the ‘Clayton Valley Lithium Prospects’ in Nevada comprising of two claim blocks totaling 800-acres bordering Pure Energy Minerals (PE.v), and three lithium projects in Quebec including the 4,485-acre ‘Pressiac Lithium Prospect’, the 524-acre ‘Whabouchi Lakes Lithium Prospect’, and the 2,636-acre ‘Whabouchi Lakes West Lithium Prospect’.

Spearmint’s ‘Chibougamau Vanadium Prospects’ comprising of five separate claim blocks totaling 9,735-acres borders the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project, Vanadiumcorp Resource Inc. (VRB.v) and Vanadium One Energy Corp. (VONE.v).

Current Projects

Lithium Properties:

The “CLAYTON VALLEY LITHIUM PROSPECTS” – Spearmint Resources Inc. has acquired two separate claim blocks in Nevada that are prospective for lithium known as the Elon property and the McGee property which cover an aggregate area of 800 acres. These two separate claim blocks border Pure Energy Minerals’ (PE.v) Clayton Valley project and Cypress Development Corp’s (CYP.v) property. Pure Energy is in the only known lithium-bearing brine in North America that is in production and Spearmint is very pleased to be in this area. Historic and present drill programs in adjacent and nearby properties are suggestive of the potential for the discovery of lithium-bearing brines.

Of the 91 samples collected during the phase 1 work program, and submitted to ALS Minerals in Vancouver, B.C., The highest sample value obtained was 1,630 parts per million, with an overall average value of 843 parts per million lithium. Twenty-three of the 91 samples achieved values of over 1,000 parts per million. The samples ranged from a low of 285 parts per million to the high of 1,630 parts per million. Spearmint Resources is currently awaiting approval of the notice of intent submitted to the Bureau of Land Management’s office in Tonopah, Nev., the approval of which is required before drilling activities may commence.

President James Nelson, stated, “We are very pleased that the results verified what we were hoping to find on the Clayton Valley prospect. The Clayton Valley prospect is developing nicely and these results are extremely promising for us and will enable us to continue with a larger drill program in the near future. Historic and present drill programs in adjacent and nearby properties are certainly encouraging and the success of our neighbours (Pure Energy and Cypress Development) provide Spearmint with an optimal location in the Clayton Valley. It would appear that the mudstone formation hosting the lithium moves through the Cypress-Pure joint venture properties and appears to continue on our property. We are immediately formulating the next phase of operations and look forward to either attempting to develop this property ourselves or to possibly take on a partner. Management will evaluate all possible avenues going forward.”

Below is the historical Lithium price (USD$) per metric ton

The “PREISSAC LITHIUM PROSPECT” – Spearmint’s 4,485 acre Preissac Lithium property is located in Quebec. The vicinity of the Preissac lithium property contains multiple lithium showings. Less than two km south of the property are located the Aldous and the Authier showings. Those showings correspond to spodumene mineralization inside pegmatite dikes, with a lithium content up to 1.14 per cent lithium. Less than three km northeast of the property is the Lac de Hauteur showing. Analysis reported by the MERN (Ministere de l’Energie et des Ressources naturelles) indicates anomalies in tantalium, niobium and lithium. Less than six km south are the Cominco-Nickel, Marbridge, Ataman, Lamotte and Cubric showings. These showings are ultramafic formation, with content up to 3.65 per cent nickel, with minor copper, zinc and molybdenum.

The “WHABOUCHI LAKES LITHIUM PROSPECT”– Spearmint’s 524 acre Whabouchi Lakes property is located in the James Bay area of the province of Quebec. This property consists of four claims that total approximately 2.13 square km. These claims overlay the possible source of lake sediment geochemical anomalies. The anomalous elements are bismuth, rare earth elements, lithium, niobium and tungsten, which represent good pathfinders and indicators of pegmatite-hosted type of mineralization also present at Nemaska Lithium Inc.’s (NMX.V) Whabouchi deposit.

The “WHABOUCHI LAKES WEST LITHIUM PROSPECT”– Spearmint’s 2,636 acre Whabouchi Lakes West property is located in the James Bay area of the province of Quebec, approximately 40 km east of the community of Nemaska, 228 km north-northwest of the Chibougamau municipality and in the immediate vicinity of the Whabouchi mine of Nemaska Lithium Inc. (NMX.v). It includes 20 claims that total approximately 10.66 square km.

Vanadium Properties:

The “CHIBOUGAMAU VANADIUM PROSPECTS” – Spearmint Resources Inc. has acquired a 100-per-cent interest in five separate vanadium prospects totaling 9,735 acres, the Chibougamau vanadium prospects, all located in the direct vicinity of Lac Chibougamau, Quebec. These new properties border BlackRock Metals’ (private) Ilmenite vanadium project, Vanadiumcorp Resource Inc.’s (VRB.v) Lac Dore vanadium project and Vanadium One Energy Corp.’s (VONE.v) Mont Sorcier vanadium project. This new block of claims puts Spearmint in the heart of the expanding Chibougamau mining district’s vanadium circle. Vanadium has garnered significant market attention recently as the use of vanadium in battery storage is gaining momentum and Spearmint is very pleased to be able to acquire a significant footprint in one of Canada’s best-known vanadium districts.

http://www.spearmintresources.ca/news/