Vancouver, British Columbia--(Newsfile Corp. - November 27, 2023) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce the Company has commenced its 2023 drill program on the 100-per-cent owned, Chibougamau project. The project is composed of two contiguous blocks of 14 (west block) and 5 (east block) claims for a total of 776.59 acres and 277.23 hectares, and located in the direct vicinity of Lac Chibougamau, Quebec. In 2018, Spearmint conducted drone and heli-borne airborne magnetic geophysical surveys totaling 932 line-km over an area totalling approximately 3,400 hectares at 100 metres line-spacing. Data collected from this inaugural airborne survey shows the presence of multiple sharply defined areas of northeast trending magnetic susceptibility, including an anomaly measuring 9km in length. The drill program is composed of 4 drillholes for a total of 800 metres, all drillholes planned are in the east block and are targeting the main feature highlighted by vertical gradient of the residual magnetic field as presented in figure 1. Several pegmatites were identified in 3 drillholes about 2 km to the south-east (figure 2).

 
Figure 1: Location of the planned drillholes, access, claims and vertical gradient of the residual magnetic field.
 
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Figure 2: Location of the project and gegmatite intersected close from the project with vertical gradient of the residual magnetic field.
 
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James Nelson, President of Spearmint Resources, stated, "We are excited to now be underway with a drill program on the Chibougamau project. After being quiet for most of the year, we expect to become a lot more active moving forward. This drill program will provide potential near-term catalysts for the Company, and we look forward to seeing the results."

On June 17, 2022, the Company announced that it has received the updated Technical Report and Mineral Resource estimate for the 100-per-cent-owned McGee Lithium Clay Deposit in Clayton Valley, Nevada. The Technical Report included an updated Mineral Resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, more than doubling the maiden resource estimate announced on June 11, 2021. The Technical Report and Mineral Resource Estimate was prepared by Derek Loveday, P.Geo. and Mariea Kartick, P.Geo. of Stantec Consulting Services Ltd. ("Stantec") in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and were reported in accordance with the Canadian Securities Administrators NI 43-101.