Corporate Update

Rhea-AI Summary

Spearmint Resources Inc. (SPMT) grants 1,100,000 stock options and 7,200,000 restricted share units to its directors, officers, and consultants at an exercise price of 5 cents per share for a period of 12 months.

Vancouver, British Columbia--(Newsfile Corp. - November 22, 2023) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce the Company has granted a total of 1,100,000 stock options to its directors, officers, and consultants at an exercise price of 5 cents per share for a period of 12 months. The Company also granted a total of 7,200,000 restricted share units (the "RSUs") to its directors, officers, and consultants. The RSUs vest as follows: 40% on the date of grant, 20% on 3 months, 20% on 6 months, and 20% on 9 months. The options and the RSUs have been granted in accordance with the Company's omnibus equity incentive plan and the policies of the Canadian Securities Exchange.

About Spearmint Resources

Spearmint's projects include four projects in Clayton Valley, Nevada; the McGee lithium clay deposit, which has a 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, directly bordering Pure Energy Minerals & Century Lithium Corp.; the Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; the Green Clay lithium project comprising 97 contiguous claims totalling approximately 2,000 acres; and the Clayton Ridge project comprising 35 contiguous claims totalling approximately 721 acres.

Spearmint's other projects include the 777-acre Chibougamau project located in the direct vicinity of Lac Chibougamau, Quebec, and the Perron-East gold project consisting of five mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of Northwestern Quebec in the direct vicinity of Amex Exploration Inc.'s Perron property and past-producing Normetal mine. For a complete list of Spearmint's projects please visit spearmintresources.ca. 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 Company's properties.

If you would like to be added to Spearmint's news distribution list, please send your email address to info@spearmintresources.ca

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

"James Nelson"
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188509

FAQ

How many stock options and restricted share units did Spearmint Resources Inc. (SPMT) grant?

Spearmint Resources Inc. (SPMT) granted a total of 1,100,000 stock options and 7,200,000 restricted share units to its directors, officers, and consultants.

At what exercise price were the stock options granted by Spearmint Resources Inc. (SPMT)?

The stock options were granted at an exercise price of 5 cents per share by Spearmint Resources Inc. (SPMT) for a period of 12 months.

How do the restricted share units (RSUs) vest for Spearmint Resources Inc. (SPMT)?

The RSUs vest as follows: 40% on the date of grant, 20% on 3 months, 20% on 6 months, and 20% on 9 months for Spearmint Resources Inc. (SPMT).

In accordance with what, were the options and the RSUs granted by Spearmint Resources Inc. (SPMT)?

The options and the RSUs have been granted in accordance with the Company's omnibus equity incentive plan and the policies of the Canadian Securities Exchange by Spearmint Resources Inc. (SPMT).