Spearmint increases Quebec V land to 13,985 acres

Dec 13, 2018

2018-12-13 07:30 ET – News Release

Mr. James Nelson reports

SPEARMINT SIGNIFICANTLY EXPANDS ITS VANADIUM ACREAGE IN QUEBEC AFTER ENCOUNTERING SHARPLY DEFINED ANOMALY

Upon receiving preliminary airborne data, Spearmint Resources Inc. has immediately increased its acreage in the Chibougamau vanadium district to 13,985 contiguous acres.

James Nelson, president of Spearmint, stated: “We are optimistic to have received such encouraging preliminary data from the airborne surveys and are awaiting final results from the entirety of the property before the end of the year. Having already uncovered at least one potential high-priority target to date on our vanadium prospect, we immediately expanded and consolidated our existing fragmented properties into one large contiguous land package bordering BlackRock Metals. This new acreage strengthens our significant footprint in this world-class vanadium district. As the vanadium price per pound has recently reached all-time highs, breaking over $33 (U.S.) per pound, we are very excited to have uncovered this sharply defined target this early in the phase 1 work program on our Chibougamau vanadium prospect. Immediate follow-up work is being planned and management is expecting to have crews on the ground shortly to further investigate this specific anomaly.”

Several northeast-trending anomalous zones have been detected from the continuing magnetic survey. The most significant zone to date is a sharply defined area of strong magnetic susceptibility, displaying a steep gradient ranging between minus 120 nT (nanotesla) to plus 135 nT, within a sinuous anomalous area measuring approximately 600 m north-south by 300 to 600 m east-west.

Spearmint’s vanadium prospect borders the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project and Vanadium One Energy Corp.’s Mont Sorcier vanadium project. Vanadium has garnered significant market attention recently as the use of vanadium in battery storage is gaining momentum and Spearmint is very pleased to maintain a significant footprint in one of Canada’s best-known vanadium districts. Vanadium has been the best-performing battery metal over the past two years going from under $5 (U.S.) per pound to recently reaching an all-time high of over $33 (U.S.) per pound. On Aug. 21, 2018, the government of Quebec announced a $248-million investment in the BlackRock Metals vanadium project and the development of the Grande-Anse sector with the total project representing investments valued at nearly $1.3-billion and will create more than 800 jobs during the construction of the mine and mill.

About Spearmint Resources Inc.

Spearmint’s current projects include the Chibougamau vanadium prospect comprising 13,985 contiguous acres, bordering the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project and Vanadium One Energy Corp., and Spearmint’s Clayton Valley lithium prospects in Nevada comprising two claim blocks totalling 800 acres bordering Pure Energy Minerals and Cypress Development Corp.

Spearmint’s current projects also include a portfolio of prospects in the Golden Triangle of British Columbia: the Golden Triangle gold prospects comprising six separate claims blocks totalling 9,157 acres bordering GT Gold Corp.; the 920-acre NEBA West and 6,803-acre NEBA gold-copper prospects bordering Aben Resources Ltd.; the Henry gold-copper prospect consisting of two contiguous claim blocks totalling 1,989 acres in the direct vicinity of Golden Ridge Resources Ltd.; and the 21,587-acre EL North nickel-copper prospect is a contiguous land package of six claims in the Eskay Creek camp bordering Garibaldi Resources Corp. Spearmint’s other projects in British Columbia include the Gold Mountain prospects comprising three separate claim blocks totalling 1,245 acres bordering Barkerville Gold Mines; Spearmint’s 16,662-acre Why West magnesium project consisting of six claims near Rossland, B.C.; the Safari copper-gold prospect consisting of 9,007 contiguous acres located in the northern Quesnel trough in north-central B.C. directly bordering Serengeti Resources Inc.; and the Hammernose gold prospect consisting of 5,140 acres directly bordering the strategic alliance between Westhaven Ventures Inc. and Sable Resources Ltd. in the Spences Bridge gold belt located in Southern British Columbia, Canada.

The content of this news release was reviewed and approved by Greg Thomson, PGeo, a director and qualified person for Spearmint.

https://spearmintresources.ca/news/