Mr. Peter Wilson reports

SPARK ENERGY MINERALS CLOSES ON EXPANDED EXPLORATION PURCHASE IN BRAZIL'S "LITHIUM VALLEY"

Spark Energy Minerals Inc. has closed its previously announced (March 6, 2024) purchase agreement dated Feb. 29, 2024, with Tristar Energy Corp., pursuant to which it acquired Tristar's option to acquire the Minas Gerais mining permits, located in the state of Minas Gerais, Brazil, in the area known as Brazil's Lithium Valley.

Under the terms of the purchase agreement, the company purchased an option to acquire 100 per cent of the property by issuing 15 million common shares units to Tristar shareholders at a deemed price of 15 cents per unit, each unit consisting of one common share and one common share purchase warrant entitling the holder to acquire one further common share for two years at a price of 15 cents.

The terms of the option require Spark to make one $400,000 payment on or before May 26, 2024.

The securities comprising the units are subject to a hold period of four months and one day from the date of issuance. No finder's fees were paid under the transaction.

The property comprises 23 mineral claims totalling 39,596.63 hectares of surface area. It is strategically located approximately 11 kilometres east from both Sigma Lithium Corp.'s Groto do Cirilo project, and Lithium Iconic Inc.'s Itinga project, and 13 kilometres east of Atlas Lithium Corp.'s Neves project, in the state of Minas Gerais, Brazil.

Sigma's properties are located in the municipalities of Aracuai and Itinga, in Brazil's mining-friendly Minas Gerais state, approximately 450 kilometres northeast of the state capital of Belo Horizonte. Sigma holds 27 mineral rights in four properties spread over 19,100 hectares, which include nine past-producing lithium mines. Atlas Lithium controls approximately 24,233 hectares of mineral rights in Lithium Valley.

About Spark Energy Minerals Inc.

Spark Energy Minerals is a Canadian company pursuing battery metal and mineral assets with newly acquired interests in Brazil. The company has acquired assets in some of the world's most prolific mining jurisdictions in Brazil's growing lithium areas that are gaining recognition as a world hot spot for lithium and rare earth mineral exploration.

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