Spearmint drilling hits Li clay formation at Clayton

Mar 16, 2018

2018-03-16 06:36 ET – News Release

Mr. James Nelson reports

SPEARMINT COMPLETES DRILLING AND INTERSECTS TARGETED LITHIUM CLAY FORMATION ON ITS CLAYTON VALLEY LITHIUM PROSPECT

The first phase of exploration drilling has been completed on Spearmint Resources Inc.’s Clayton Valley lithium prospect. Two 300-foot reverse circulation drill holes and one 300-foot core hole were successfully completed. These holes were designed to test an outcropping green clay that was previously sampled (March 13, 2017). All drill holes penetrated the lithium-bearing green clay section that was targeted. The drill samples have been shipped to ALS labs in Reno and the company is currently awaiting assay results. The company anticipates results back shortly.

James Nelson, president of Spearmint, stated: “We are very pleased to have completed this first phase of the drill program. We encountered the targeted green clay in each hole and we eagerly anticipate the results from the lab. This area has been overlooked for lithium-bearing clay/mud-hosted formations and we are looking forward to proving up the concept that management has laid out to fully evaluate this lithium asset. This property lies directly east of Albemarle’s lithium mine.”

Spearmint’s current projects include a portfolio of lithium prospects. The Clayton Valley lithium prospects in Nevada comprise two claim blocks totalling 800 acres bordering Pure Energy Minerals and Cypress Development Corp. Spearmint also has 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. and Critical Elements Corp. Spearmint’s Chibougamau vanadium prospects comprise 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. and Vanadium One Energy Corp.

Spearmint’s current projects also include three areas of focus on gold in British Columbia: the Golden Triangle gold prospects comprising four separate claim blocks totalling 4,095 acres bordering GT Gold Corp.’s Gold Mountain prospects comprising three separate claim blocks totalling 1,245 acres bordering Barkerville Gold Mines, and the 3,052-acre Neba prospect bordering Aben Resources Ltd. Spearmint’s 8,482-acre EL North nickel-copper prospect is a contiguous land package that includes the EL North, EL North 2 and the Buddy claims in the Eskay Creek camp bordering Garibaldi Resources Corp. Spearmint’s 1,500-acre Why West magnesium project near Rossland, B.C., directly borders West High Yield Resources.

Frank Bain, PGeo, qualified technical person, has reviewed this news release and approved the content.

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