Spark Energy Concludes 2024 Arapaima Field Program; Identifies 8 Pegmatite Trends Over Combined Strike of 27.2km

Rhea-AI Summary

Spark Energy Minerals (SPARF) has completed its first field exploration campaign at the 64,359-hectare Arapaima Lithium project in Brazil's Lithium Valley. The exploration covered approximately 20% of the land package and identified 8 pegmatite trends with a combined strike of 27.2km. Key findings include:

- 78 individual pegmatite occurrences recorded
- 144 samples submitted to SGS laboratory
- Three priority target areas defined
- Target Area 1: ~13.3km combined pegmatite trend
- Target Area 5: ~5.6km combined strike length
- New Target Area 6: ~8.3km combined strike length

Results from laboratory analysis are expected by end of January 2025, and work will resume on January 6th with three geological teams.

Positive

• Identified 8 pegmatite trends over 27.2km combined strike length
• Mapped 78 individual pegmatite occurrences
• Covered 20% of land package with initial exploration
• Discovered three priority target areas with significant strike lengths

Negative

• Laboratory results pending and unconfirmed presence of lithium minerals
• Large areas covered by regolith making mineral identification difficult
• Deep weathering of pegmatite bodies complicating mineral identification

--78 individual pegmatite occurrences recorded

Vancouver, British Columbia--(Newsfile Corp. - December 24, 2024) - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark" or the "Company") an exploration Company focused on the discovery of battery metals in Brazil's prestigious Lithium Valley, is pleased to provide a year-end update after successfully completing its first "boots on the ground" field exploration campaign at the Company's 64,359-hectare Arapaima Lithium project located in Lithium Valley, Minas Gerais, Brazil.

Arapaima Lithium Project Exploration Highlights:

• The Spark geological teams successfully completed an initial "boots on the ground" exploration work program during Q4 2024. Work will resume on the 6^th of January with three geological teams.

• To date, first-pass exploration has covered approximately 20% of Spark's extensive 64,359 tenement land package.

• A total of 144 samples have been submitted to SGS laboratory for lithium and multi-element analysis including the full suite of rare earth elements. Analysis results are expected to be reported by the end of January 2025.

• Definition of three (3) initial priority target areas comprising eight (8) pegmatite trends with an overall combined strike extent of ~27.2 km.

• Target Area 1, initially identified in week 1, has a combined pegmatite trend strike length defined to date of ~13.3km.
• Target Area 5, in the central west part of the tenement package has a combined pegmatite strike length defined of ~5.6km
• New Target Area 6, identified ~1.8km south of Target Area 1, contains two pegmatite trends with a combined strike length of ~8.3km. (Figures 1, 2, 3, 4 and 5)

• Statistics from Phase 1 Exploration - Q4 2024

• 230 geological observation points mapped
• 78 individual pegmatite occurrences / outcrops recorded.
• 14 old artisanal workings identified (unknown commodity)
• 144 samples collected and submitted to SGS Laboratory in Belo Horizonte

• The exploration work to date has rapidly progressed Spark's understanding of the geology across the company's large contiguous 64,359-hectare tenement package. While large areas of the tenement package are covered by varying degrees of regolith and recent sedimentary sequences, the teams have identified and defined erosional windows through this cover with some significant areas and trends, (now prioritized as major targets), of weathered-saprolitised granite intruded by pegmatites have been mapped and sampled.

• Target Area 1 is largely underlain by the two mica G2 granite which is host to multiple pegmatite bodies, some attaining thicknesses of above 5m.

• The recently identified New Target Area 6 is underlain by the G4 super suite – biotite granite, which so far is seen to be host to multiple, mainly narrow pegmatite bodies, in the areas observed to date. Two structural trends have been identified at this target, one trending northeast-southwest and the other northwest-southeast.

• Target Area 5 is defined by a 5.3km trend of weathered two mica granite intruded by pegmatite. Of interest is the clear correlation of this trend with a prominent thorium response in the regional radiometric images.

• It should be noted that many of the pegmatite bodies identified to date, as is the case for their host granites, have been deeply weathered. This weathering overprint makes the positive identification of the various targeted lithium minerals, especially spodumene, which are preferentially weathered to smectite clays in tropically weathered environments, extremely difficult in hand specimens.

• To obtain positive and uncontestable confirmation of the presence of the targeted lithium mineral, tentatively identified as spodumene in weathered surface outcrop samples collected to date, and to support the certified laboratory results once reported (end January 2025). The company has submitted several, so far unidentified samples for XRD (X-ray diffraction) and LIBs (Lazer Induced Breakdown Spectroscopy) which are alternative methods used by industry to positively identify various lithium and related pathfinder elements.

Figure 1: Figure showing the location of Priority Target Areas 1, 5 and New Target 6 with sampling points, Arapaima Lithium project tenements

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10093/235146_bf99d14d24f4d93c_002full.jpg

Figure 2: Figure showing the location of Priority Target Areas 1, 5 and New Target 6 with geological data points, Arapaima Lithium project tenements

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10093/235146_bf99d14d24f4d93c_003full.jpg

Figure 3: Map showing the relative position of Target Area 1 (13.3km trend) with New Target Area 6 (8.3 km trend), ~1.8km to the south.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10093/235146_bf99d14d24f4d93c_004full.jpg

Figure 4: Photos of pegmatites recently identified and mapped within the New Target 6 pegmatite corridors with a combined strike extent of 8.3km to date.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10093/235146_bf99d14d24f4d93c_005full.jpg

Figure 5: View of Target Area 5 showing a strong correlation between the 5.6 km pegmatite corridor and the thorium radiometric response.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10093/235146_bf99d14d24f4d93c_006full.jpg

Jon Hill, Director of Spark Energy Minerals commented: "We are very pleased with the excellent progress our teams have made at Arapaima since the commencement of "boots on the ground exploration", having already, after only 4 weeks in the field, identified and field verified almost 30km of cumulative, prospective strike represented by 8 pegmatite trends supported by 78 individual pegmatite occurrences mapped. This is even more remarkable given the high percentage of regolith cover across this region. We are looking forward to continuing to progress first pass and priority follow-up exploration across the portfolio in January, especially with the support that initial analytical results (expected from mid-January) will provide to our field activities."

Target Generation Program: Planning Q1 2025

• Receive and interpret the analytical results from samples submitted to SGS laboratory to date (144 samples).
• Review and refine the exploration strategy based on initial analytical results, whilst continuing the first pass mapping and stream sediment sampling program across the entire 64,359-hectare tenement package by the end of Q1 2025.
• Support an independent field geological assessment commencing 7^th January for preparation of an NI 43-101 Exploration Report.

Eugene Hodgson, CEO of Spark Energy Minerals, stated: "The successful conclusion of our 2024 Arapaima field program marks a significant milestone for Spark Energy. The identification of 8 pegmatite trends spanning a combined strike of 27.2km, along with 78 individual pegmatite occurrences, underscores the immense potential of our project in Brazil's Lithium Valley. These results, achieved by exploring only 20% of our extensive land package, validate our strategic approach and position us for an exciting 2025. We're particularly encouraged by the rapid progress our geological teams have made, providing us with valuable insights that will guide our future exploration efforts. As we await the analytical results, we're already planning an accelerated exploration program for Q1 2025, aiming to unlock further value across our 64,359-hectare tenement. This successful campaign sets a strong foundation for Spark Energy's continued growth in the critical battery metals sector."

Qualified Person:

The scientific and technical information disclosed in this document has been reviewed and approved by Jonathan Victor Hill BSc Hons, FAUSIMM, a Qualified Person consistent with NI 43-101.

About Spark Energy Minerals Inc.

Spark Energy Minerals, Inc. is a Canadian company focused on the acquisition, exploration, and development of battery metals and mineral assets, with a particular emphasis on its substantial interests in Brazil. The Company's flagship project is the Arapaima Lithium project spanning 64,359 hectares in Brazil's renowned Lithium Valley, one of the most prolific mining regions in the world. This region is rapidly gaining global recognition for its vast deposits of lithium and rare earth minerals, positioning Brazil as a critical player in the global energy transition.

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.

FOR ADDITIONAL INFORMATION, SEE THE COMPANY'S WEBSITE AT
https://sparkenergyminerals.com
Email to info@sparkenergyminerals.com
Contact: Eugene Hodgson, CEO, Tel. +1-778-744-0742

Forward-Looking Statement Disclaimer

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235146

FAQ

What are the key findings from SPARF's 2024 Arapaima Field Program?

The program identified 8 pegmatite trends with 27.2km combined strike length, mapped 78 pegmatite occurrences, and defined three priority target areas across the 64,359-hectare project.

When will SPARF receive the laboratory results from the Arapaima exploration?

Laboratory results from the 144 samples submitted to SGS are expected by the end of January 2025.

What is the size of SPARF's Arapaima Lithium project?

The Arapaima Lithium project covers 64,359 hectares in Brazil's Lithium Valley, Minas Gerais.

How much of SPARF's Arapaima project has been explored so far?

Approximately 20% of the total 64,359-hectare tenement land package has been explored during the Q4 2024 program.

What are the next steps for SPARF's Arapaima project in Q1 2025?

SPARF plans to continue first-pass mapping, interpret initial analytical results, and support an independent field geological assessment for an NI 43-101 Exploration Report.