Spearmint Resources Inc. – Drilling program completed on the Goose Gold project in Newfoundland

VancouverSpearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) would like to announce that the inaugural drilling program is now complete on the 100% directly owned “Goose Gold Project”. the edge New Found Gold Corp. Queensway Project at Newfoundland.

Four diamond drill holes (DDH) were located and drilled for a total of 677 meters of completed drilling.

The 2022 drill program was designed to test targets identified along a major NE-trending magnetic lineament and several narrow magnetic trends that also contained overlapping geochemical anomalies. These goals were generated following the first phase of the program completed in 2021.

Spearmint would like to report that the 2022 diamond drill program has identified multiple mineralized and altered fault zones. All DDH drilling completed on the Goose Gold property intersected faulting and shear zones consisting of graphitic schist alteration and containing several generations of quartz veins and stockwork. Several generations of quartz carbonate veins have been observed to host sulphide mineralization including bakerite, chalcopyrite and arsenopyrite. Minor void quartz veins with stylolithic textures were noted in several core segments in each hole drilled.

james nelsonPresident of Spearmint Resourcessaid, “We are pleased to have now completed the highly anticipated inaugural drill program on our ‘Goose Gold Project’ directly on the edge of New Found Gold Corp. Queenway Project. We are eagerly awaiting the results of the drilling. Spearmint also recently announced a major update to our mineral resource estimate. Nevada on our McGee lithium clay deposit, having more than doubled the previous amount of lithium carbonate equivalent (LCE) to 1,369,000 tonnes indicated and 723,000 tonnes inferred LCE for a total of 2,092,000 tonnes LCE . We believe that the second half of 2022 could have a significant impact for our shareholders.

On June 17, 2022the company announced that it had received the updated technical report and mineral resource estimate for the 100% owned McGee lithium clay deposit in Clayton Valley, Nevada. The technical report included an updated mineral resource estimate of 1,369,000 tonnes indicated and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, more than double the first estimate of resources announced on June 11, 2021. The technical report and mineral resource estimate were prepared by Derek Loveday, P. Geo. and Mariea Kartick, P. Geo. of Stantec Consulting Services Ltd. (“Stantec”) in accordance with the CIM’s Guidelines on “Best Practices in Estimating Mineral Resources and Mineral Reserves” and have been reported in accordance with National Instrument 43-101 of the Canadian Securities Administrators.

About Spearmint Resources

Spearmint’s major projects include three lithium projects in Clayton Valley, Nevada; the “McGee Lithium Clay Deposit” which has a resource estimate of 1,369,000 tonnes indicated and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly adjacent 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 pond in production in North America and the recently acquired “Green Clay Lithium Project”, consisting of 97 contiguous claims totaling approximately 2,000 acres.

Spearmint’s other major projects include the “Goose” gold project which directly borders New Found Gold Corp. where Spearmint sampled up to 973 ppb of gold, and the Perron East Gold Project consisting of 5 mining claim blocks covering 11,608 acres located in the northwestern Abitibi greenstone belt Quebec in the immediate vicinity of Amex Exploration Inc. Perron property and past producer Normalmetal mine. Management cautions that past results or discoveries on properties near Spearmint are not necessarily indicative of the presence of mineralization on the Company’s properties.


Tel: 1604646-6903

Web: www.spearmintresources.ca

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