Spark Energy Minerals Inc. Increases Land Holdings in Lithium Valley, Brazil by 700%

Rhea-AI Summary

Spark Energy Minerals Inc. has announced the acquisition of a 100% ownership interest in 12 exploration permits from Talisman Venture Partners, covering approximately 22,000 hectares in Minas Gerais, Brazil. This purchase positions Spark in the prominent Lithium Valley, adjacent to major lithium deposits. The total cost for this acquisition includes $150,000 CDN upon signing and another $150,000 CDN on closing, plus 10 million common shares issued to Talisman. The transaction is subject to customary closing conditions and due diligence. With this addition, Spark aims to enhance its portfolio in battery metals and mineral assets.

Positive

• Acquisition increases land holdings to approximately 25,500 hectares in a key lithium region.
• Strategic location near significant lithium deposits enhances exploration potential.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 7, 2023 / Spark Energy Minerals Inc., ("Spark" or the "Company" (CSE:EMIN)(Frankfurt:M1N)(OTC PINK:MTEHF), has entered into a mineral claims purchase agreement dated February 1, 2023, with Talisman Venture Partners, Ltd. ("Talisman" ) of Victoria B.C., pursuant to which the company will acquire from Talisman a 100 percent ownership interest in 12 (twelve) exploration permits comprising approximately 22 thousand hectares (22k ha) of surface area in Minas Gerais, Brazil.

The licenses are located to the west of the large Xuxa lithium deposit of Sigma Lithium, and to the northwest of the CBL lithium mining operation.

Peter Wilson, Chief Executive Officer of Spark stated, "Acquiring this extensive land package right in the heart of what is widely known as "Lithium Valley" in Brazil instantly makes Spark Energy Minerals one of the largest landholders in the region. This newly acquired land package, along with the 3,500 hectares already held by Spark, are highly prospective properties that offer excellent potential."

The transaction

Pursuant to the terms of the agreement and in order to complete the transaction, Spark shall pay to Talisman:

• $150,000 CDN on signing of the agreement,
• An additional $150,000 CDN on closing;
• Issue Talisman 10,000,000 common shares of the Company;
• Talisman shall retain a 1% N.S.R. The Company can purchase %0.5 from Talisman at any time for $1,000,000 CDN.

Completion of the transaction is subject to customary closing conditions, including, among others, approval of the CSE and the company being satisfied with the results of its due diligence review. The company has 90 calendar days from the date of execution of the agreement to complete.

The transaction is arm's length, and the company is not paying any finders' fees in connection therewith.

About Spark Energy Minerals Inc.

Spark Energy Minerals, Inc., is a Canadian company pursuing battery metals and mineral assets with newly acquired interests in Brazil and Canada. The Company has acquired assets in some of the world's most prolific mining jurisdictions, Brazil's growing lithium and provinces and in the Newfoundland, Canada region which is gaining recognition as a world hot spot for lithium and rare earth mineral exploration.

FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT

https://sparkenergyminerals.com
Email to info@sparkenergyminerals.com
Contact: Peter Wilson, CEO, Tel. +1-604-649-0945

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information about the Company is available on www.SEDAR.com under the Company's profile.

Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE: Spark Energy Minerals Inc.

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https://www.accesswire.com/738387/Spark-Energy-Minerals-Inc-Increases-Land-Holdings-in-Lithium-Valley-Brazil-by-700

FAQ

What is the significance of Spark Energy Minerals' recent acquisition in Brazil?

The acquisition boosts Spark Energy Minerals' land holdings in Lithium Valley, enhancing its potential in the lithium mining sector.

How much did Spark Energy Minerals pay for the mineral claims acquisition?

Spark Energy Minerals paid $150,000 CDN upon signing, $150,000 CDN upon closing, and issued 10 million common shares to Talisman.

Where are the newly acquired exploration permits located?

The exploration permits are located in Minas Gerais, Brazil, near the Xuxa lithium deposit and the CBL lithium mining operation.

What are the conditions for completing the acquisition deal?

The completion of the deal is subject to customary closing conditions, including CSE approval and satisfactory due diligence results.

What is the total area covered by Spark's land holdings after the acquisition?

After the acquisition, Spark Energy Minerals' total land holdings will be approximately 25,500 hectares.