Mr. William Pettigrew reports

SPARTAN METALS CLOSES PRIVATE PLACEMENT OF $2.25M

Spartan Metals Corp., in connection with its previously announced non-brokered private placement (see news release of Aug. 18, 2025), has closed, effective Sept. 25, 2025, the private placement and issued 7.5 million units of the company at a price of 30 cents per unit for aggregate gross proceeds of $2.25-million.

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 until March 25, 2027.

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

All securities issued pursuant to the financing are subject to a statutory four-month-and-one-day hold period expiring on Jan. 26, 2026.

Insiders of the company participated in the financing for an aggregate amount of 893,332 units. Such participation is considered a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. In completing such transaction, the company relied on exemptions from the formal valuation and minority shareholders approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the insiders' participation in the offering did not exceed 25 per cent of the fair market value of the company's market capitalization.

In connection with the private placement and in accordance with the policies of the TSX Venture Exchange, the company paid aggregate cash finders' fees totalling $49,809 and issued 166,030 warrants. Each finder's warrant entitles the holder to purchase one additional share of the company at a price of 45 cents per share until March 25, 2027.

About Spartan Metals Corp.

Spartan Metals is focused on developing critical minerals projects in top-tier mining jurisdictions in the Western United States, 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 Eagle District project in eastern Nevada, which consists of the highest-grade historic tungsten resource in the United States (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.

We seek Safe Harbor.