09:48:49 EST Tue 07 Feb 2023
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Spearmint Resources Inc
Symbol SPMT
Shares Issued 249,548,583
Close 2022-11-30 C$ 0.06
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Spearmint to drop Goose after poor drill results

2022-11-30 18:06 ET - News Release

Mr. James Nelson reports


Spearmint Resources Inc. has received the results of the drill program on the 185-acre Goose gold project in Newfoundland. Four diamond drill holes were located and drilled for a total 677 metres of drilling completed. The drill results did not provide evidence of economical gold grades. Therefore, the company has decided not to pursue this project as management has determined all of the primary targets were tested. Moving forward, the company will continue to focus on its flagship McGee lithium project in Nevada, as well as its Green Clay lithium project, both located in Clayton Valley.

On June 17, 2022, the company announced that it has received the updated technical report and mineral resource estimate for the 100-per-cent-owned McGee lithium clay deposit in Clayton Valley, Nevada. The technical report included an updated mineral 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, more than doubling the maiden resource estimate announced on June 11, 2021. The technical report and mineral resource estimate was prepared by Derek Loveday, PGeo, and Mariea Kartick, PGeo, of Stantec Consulting Services Ltd., in conformity with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) estimation of mineral resource and mineral reserves best practices guidelines, and were reported in accordance with the Canadian Securities Administrators' National Instrument 43-101.

Qualified person

Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained within this news release.

About Spearmint Resources Inc.

Spearmint's primary projects include three lithium 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 & Cypress Development 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.

Spearmint's other primary projects include 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.

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