Mr. William Pettigrew reports

SPARTAN METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Spartan Metals Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $2.25-million through the sale of up to 7.5 million units at the price of 30 cents per unit. Each unit consists of one common share of the company and one-half of one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one additional share of the company at a price of 45 cents per share for a period of 18 months from the date of issue.

Certain insiders of the company may acquire securities under the private placement. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to, nor the consideration paid by, such persons will exceed 25 per cent of the company's market capitalization.

The company may pay finders' fees of 6 per cent in connection with the private placement in cash and warrants. Each finder's warrant will entitle the holder to acquire one additional common share in the capital of the company at a price of 45 cents for 18 months from closing. All securities to be issued in the private placement will be subject to a four-month-plus-one-day hold period from the closing date under applicable securities laws in Canada.

The company anticipates closing of the private placement as soon as practicable and closing is subject to TSX Venture Exchange approval.

The proceeds from the sale of the private placement will be used to further advance the company's Tungstonia project in Nevada (see news release of Aug. 7, 2024) and for general working capital.

Appointment of executive management

The company further announces it has made changes effective Aug. 18, 2025, to its executive management team, whereby Brett Marsh has been appointed president of the company, and Terese Gieselman has been appointed chief financial officer and corporate secretary. Ryan Cheung has resigned as CFO and will continue his role as a director of the company.

Mr. Marsh has over 25 years of diverse mining and exploration experience in critical minerals, base metals and precious metals. He has held leadership roles with several major and junior mining companies, and delivered multiple projects that realized significant corporate and shareholder value. Recently, he has actively developed multiple U.S. Department of Defense and Energy grants for U.S. critical mineral projects, and led definition and development of the McDermitt lithium project in the Western United States.

Ms. Gieselman has over 35 years experience with junior mining and exploration companies listed on the Toronto Stock Exchange, TSX Venture Exchange, OTC Markets, Nasdaq Stock Market and Canadian Securities Exchange, in the roles of CFO, treasurer and corporate secretary. During her tenure in the resource sector, Ms. Gieselman has accumulated an extensive background in corporate and financial reporting and compliance for Canada and the U.S., including particularly relevant experience in financings, treasury, international corporate structures and financial reporting in Mexico, Peru, Chile, Argentina and Zimbabwe.

About Spartan Metals Corp.

Spartan Metals is focused on developing critical minerals projects in top-tier mining jurisdictions in the Western U.S., with an emphasis on building a portfolio of diverse strategic defence minerals, such as tungsten, rubidium, antimony, bismuth and arsenic.

Spartan's flagship project is the Tungstonia project in eastern Nevada, which consists of the highest-grade historic tungsten resource in the U.S. (the past-producing Tungstonia mine), along with significant underdefined resources consisting of: high-grade rubidium; antimony; bismuth; indium; as well as precious and base metals.

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Brett Marsh (CPG), Spartan's president, who is the qualified person as defined by National Instrument 43-101, Standards for Disclosure for Mineral Projects.

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