Mr. A. Lee Barker reports

SPARTON RESOURCES INC. PENSE CRITICAL METALS PROJECT EXPLORATION PERMITS RECEIVED

Field operations are under way at Sparton Resources Inc.'s Pense critical metals project near Englehart in Northern Ontario and Quebec. The Pense mineralization exhibits many similarities to the world-class Outokumpu deposits in Finland.

Results of the initial drill program and Ontario junior exploration program (OJEP) funding assistance at Pense on the Ontario claims were reported earlier. Please see Sparton's news releases dated Dec. 17, 2024, and March 27, 2025.

A new OJEP funding application has been submitted for the current program.

Pense project permitting

The 6,800-hectare Pense claim area straddles the Ontario-Quebec border, approximately 25 kilometres east of Englehart, Ont. New exploration permits have recently been received from each of the Ontario and Quebec governments, and all activities, including proposed drilling sites, have been approved.

New mineral showings, Gagne and Verrier

The Verrier zone, located in Ontario, was explored by Adventure Gold in 1997 (GESTIM assessment report GM65183 for Adventure Gold, 1997). It was later trenched and sampled in the Gagne program in 2007, (Ontario government assessment report 20004162, 2007). It appears to have been partially covered by parts of the survey lines from the southern portion of the Sparton Expert Geophysics target EM (electromagnetic) airborne survey. The zone is reported as having skarn type (contact metasomatic) mineralization associated with a syenite intrusive, cutting mafic and ultramafic volcanics. Sparton has recently located and sampled this area.

Historical work

Grab sample assays of sulphide-bearing material by Adventure Gold at Verrier returned values of up to 0.1 per cent copper and 0.4 per cent zinc. Based on this same work, the mineralized zone may extend at least another one kilometre east into Quebec, into an area with a cluster of several close spaced rock chip samples with anomalous results in copper and zinc that were reported by Adventure Gold.

Surface prospecting and trenching were completed at Verrier, by Gagne, in 2007. Several pits and trenches were excavated and sampled. Sparton has recently located these and found massive sulphide mineralization adjacent to altered komatiitic ultramafic and basaltic volcanic flow material. Critical metal sulphides such as pyrrhotite, chalcopyrite and sphalerite are reported from all samples and returned historical assay values by Gagne of up to 1.31 per cent copper, 0.32 per cent nickel and 1.2 per cent zinc over sample widths of up to 1.5 metres. This mineralization has never been drilled tested. It appears similar to the material recovered in the area drilled to the north by Sparton in late 2024.

2025 exploration

Early in 2025, Sparton completed reconnaissance geophysics over two areas at Pense and successfully located a new target, which was only partly covered by the original airborne electromagnetic and magnetic survey done in 2023. This zone is several hundred metres from the other untested targets and detailed work will be done to properly define it this season. Additionally, one other untested zone, located by the past ground surveys, was extended by 200 metres in strike length by the reconnaissance work. Currently, the field team is investigating the portions of Gagne and Verrier showings that have not yet been explored in Sparton's programs.

Sparton will also complete electromagnetic and magnetic surveys over these showings and their general area. The prospecting and sampling program is under way, with assay results pending.

The Ontario Geological Survey compilation mapping of the Pense area (1996) indicates an area of syenite intrusives to the northwest of the Verrier/Gagne trenches and various skarn minerals are present related to the copper and zinc mineralization in trenches at the showing.

Commentary

The Pense mineralization encountered to date consists of massive to semi-massive sulphides with pyrite, pyrrhotite, sphalerite and chalcopyrite, hosted in mafic and ultramafic volcanic rocks (komatiites) and intercalated sediments. These minerals host the critical metal values and are similar to the Outokumpu mineral suite. The newly recognized Verrier (Gagne) mineralization is also of significant interest in that the Outokumpu deposits are also locally associated with skarn mineral development related to syenite intrusions.

The untested geophysical anomalies at Pense represent completely new, previously unrecognized targets. There are now at least 12 untested geophysical zones on the combined Ontario and Quebec claim package.

The gold zone intersected in Sparton hole P24-01 is also distinctive and characterized by heavy silicification and only minor sulphides. It is significant in that it is similar to the same zone 50 metres west in historical hole 97-03, where higher gold values were reported (up to 11.3 grams per tonne (g/t) gold (Au) over 30 centimetres (cm)). It clearly requires more drill testing. See Sparton's news release dated Dec. 17, 2024.

With the new Gagne and Verrier zones now under evaluation, the project scope has increased significantly.

"The Pense property area has been overlooked in recent years and there is enough documented critical metals mineralization on the property to justify continuing the overall exploration program to test all the other targets, both on the Ontario and the Quebec claims," stated A. Lee Barker, Sparton's chief executive officer. "We are very encouraged by the results of the initial drilling, which certainly warrant follow-up. These new zones at Verrier and Gagne clearly show that the area has multiple critical metals targets, and these will be evaluated in detail. This large property, held 100 per cent by Sparton, is now 'camp scale' in size."

The presence of significant gold mineralization is an added feature for this critical metals opportunity. With the current gold price reaching all-time highs, the company believes that this overlooked style of mineralization in this area and the anomalous gold associated with the critical metal mineralization is a bonus for the Pense project.

It should be noted that the historical technical data reported herein have not been verified by a qualified person under National Instrument 43-101. The data do not include any more recent information or data available to Sparton, and more work needs to be done to verify these historical results.

This news release was prepared by A.L. Barker, MASc, PEng, president and CEO of Sparton, in his capacity as a qualified person (QP) under NI 43-101.

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