Single Longest Continuous Clay Intercept Of 652 feet On McGee Project

VANCOUVER - Spearmint Resources Inc. reported that drill hole-18, from the phase III drill program on Spearmint's 100-percent owned 'McGee Lithium Clay Project' in Clayton Valley, Nevada, has set a new record for the project, encountering a massive 652 feet of continuous potential lithium-bearing claystone. To date, this is the longest continuous clay intercept discovered on the 'McGee Lithium Clay Project' and the farthest step-out hole to the West, at approximately 3,700 feet from any drill hole from previous phases of drilling. Previously, Spearmint announced that drill hole-15 of this phase III drill program on McGee, encountered 562 feet of continuous potential lithium-bearing claystone, which was the longest to date at that point. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the properties.

The targeted potential lithium-bearing claystone was encountered in 4 holes drilled on the Phase III drill program, including two massive intercepts of 562 feet (hole-15) and 652 feet (hole-18) of continuous claystone. These holes are two of the longest continuous intercepts of claystone recorded in the history of Clayton Valley, Nevada. Samples from the phase III drill program have been immediately sent to ALS for assaying on a rush basis.

James Nelson, President, said, "We are extremely pleased to have once again discovered our longest intercept of 652 feet of continuous potential lithium-bearing claystone to date on our flagship project, the McGee Lithium Clay Project in Clayton Valley, Nevada. Hole-18 beats our recent longest claystone intercept of 562 feet, announced on Jan. 21, 2022. Not only are these two holes the longest but they are approximately 2,500 feet and 3,700 feet to the West of any previously hole drilled in previous phases of drilling on the McGee. If these holes run at lithium grades, similar to what we've already achieved on the McGee Project, it could potentially increase our resource estimate significantly. Management eagerly awaits these assays, especially when you consider that lithium prices and demand are at all-time highs."