Mr. James Nelson reports

CORPORATE UPDATE

Spearmint Resources Inc. has granted a total of 1.1 million stock options to its directors, officers and consultants at an exercise price of five cents per share for a period of 12 months. The company also granted a total of 7.2 million restricted share units (the RSUs) to its directors, officers and consultants. The RSUs vest as follows: 40 per cent on the date of grant, 20 per cent on three months, 20 per cent on six months and 20 per cent on nine months. The options and the RSUs have been granted in accordance with the company's omnibus equity incentive plan and the policies of the Canadian Securities Exchange.

About Spearmint Resources Inc.

Spearmint's primary projects include four projects in Clayton Valley, Nevada: the McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Century Lithium Corp.; the Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired Green Clay lithium project comprising 97 contiguous claims totalling approximately 2,000 acres, and the Clayton Ridge project comprising 35 contiguous claims totalling approximately 721 acres.

Spearmint's other projects include the 777-acre Chibougamau project located in the direct vicinity of Lac Chibougamau, Que., and the Perron-East gold project consisting of five 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 Perron property and past-producing Normetal mine.