Mr. Eugene Hodgson reports

SPARK ENERGY MINERALS IDENTIFIES PRIORITY TARGETS AND ACCELERATES "BOOTS ON THE GROUND" EXPLORATION AT ITS ARAPAIMA LITHIUM PROJECT

Spark Energy Minerals Inc. has provided a progress update as the company advances its aggressive boots-on-the-ground stream sediment and heavy mineral pan concentrate sampling exploration for spodumene-rich pegmatites across its prospective 64,359-hectare tenement portfolio.

Jon Hill, vice-president, exploration, country manager and director of Spark Energy, stated: "The immense value we can attribute to the results published in the 2016 and 2023 government reports cannot be understated. Not only have we essentially saved several hundred thousand Canadian dollars by not having to repeat this positioning phase of exploration, but we have gained the 12 to 18 months of upfront time required to achieve this. Having such quality target areas already well defined allows us to immediately advance our field-based exploration and leveraging in the best areas within this prospective land position, giving us every chance at early success. We look forward to providing regular updates on the exploration progress."

Key exploration highlights:

• Spark Energy has divided its large tenement portfolio into priority 1 and priority 2 areas, based on geological assessments and logistical considerations.
• The exploration strategy benefits from government geological reports published in 2016 and 2023, saving the company both time and significant costs in early-stage exploration.
• Fieldwork includes stream sediment sampling, heavy mineral pan concentrate testing, geological mapping and rock chip sampling, all aimed at identifying spodumene-rich pegmatites for lithium deposits.
• The initial exploration phase will focus on the highest-ranked targets while simultaneously increasing geochemical and geological data across the entire portfolio.

Eugene Hodgson, chief executive officer of Spark Energy, commented: "We are thrilled to announce the commencement of our aggressive boots-on-the-ground exploration program at our Arapaima lithium project. This strategic initiative leverages our 64,359-hectare tenement portfolio in Brazil's Lithium Valley, positioning Spark Energy Minerals at the forefront of lithium exploration in this globally significant region. Our targeted approach, focusing on high-priority areas identified through comprehensive geological analysis, sets the stage for potentially groundbreaking discoveries. We are confident that our experienced team, led by Jon Hill, and methodical exploration strategy will unlock the potential of our assets, driving value for our shareholders and contributing to the global clean energy transition."

Exploration priority 1 targets at Arapaima lithium project

The priority 1 target area includes the highest-ranked lithium-prospective drainage basins, highlighted in red in both the 2016 and 2023 government prospectivity reports. These areas have shown anomalous stream sediment results and reported spodumene crystals identified in government heavy mineral pan concentrates. Spark Energy's in-house geological team has further refined these targets through reprocessing of public geophysics data, multispectral interpretation and remote sensing analysis.

Priority 1 target area

The priority 1 target area focuses on the most promising lithium prospects, supported by government reports and Spark Energy's internal analysis. Key exploration activities planned include:

1. Stream sediment and heavy mineral sampling: covering primary, secondary and tertiary drainage systems within the highest-ranked target basin;
2. Regolith and geological mapping: detailed mapping of soil and rock layers;
3. Ridge and spur traverses: identifying and sampling rock outcrops;
4. Historical data follow-up: field verification of previously identified anomalies in government reports;
5. Geophysical and remote sensing targeting: ground follow-up of high-priority targets identified through Spark Energy's reprocessing of geophysics and remote sensing data.

Exploration priority 2 targets at Arapaima lithium project

Priority 2 target area

The priority 2 area includes secondary-ranked drainage basins, highlighted in orange, yellow and white in the government prospectivity reports. These areas show anomalous stream sediment results, with reported spodumene crystals identified in government heavy mineral pan concentrates. Spark Energy's geological team has further refined these targets using reprocessed geophysical data, multispectral interpretation and remote sensing. Exploration will also focus on potential extensions of known lithium occurrences, including targets reported by third party companies like Si6 and Perpetual Resources. Although less data are available, the area shows significant potential.

Investor relations

The company further announces that it has entered into a consulting agreement dated Oct. 23, 2024, with Sideways Frequency LLC, pursuant to which Sideways Frequency has agreed to provide certain investor relations services to the company in exchange for cash consideration in the amount of $150,000 (U.S.). The IR agreement has an initial term of 31 days unless earlier terminated or renewed in accordance with its terms. The company may renew the IR agreement for successive 31-day periods upon providing notice to Sideways Frequency.

Pursuant to the terms of the IR agreement, Sideways will provide certain services to the company, including, but not limited to, e-mail campaigns, native advertising, display ads, lead generation, creation of content, strategic planning, digital advertisement placement, overseeing progress and result of digital campaign, and such other services as mutually agreed to by the company and Sideways Frequency.

Sideways Frequency is an investor relations consultancy firm headquartered in Utah, United States. Sideways Frequency is arm's length to Spark Energy, and, to the company's knowledge, holds no securities, directly or indirectly, of the company nor has any right or intent to acquire such an interest.

Qualified person

The scientific and technical information disclosed in this document has been reviewed and approved by Jonathan Victor Hill, BSc honours, FAusIMM, a qualified person consistent with National Instrument 43-101.

About Spark Energy Minerals Inc.

Spark Energy is a Canadian company focused on the acquisition, exploration and development of battery metals and mineral assets, with a particular emphasis on its substantial interests in Brazil. The company holds significant land and mineral rights in Brazil's renowned Lithium Valley, one of the most prolific mining regions in the world. This region is rapidly gaining global recognition for its vast deposits of lithium and rare earth minerals, positioning Brazil as a critical player in the global energy transition.

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