Spearmint Company Update
- Significant increase in the Mineral Resource estimate for the McGee Lithium Clay Deposit
- Options granted in accordance with the Company's omnibus equity incentive plan and the policies of the Canadian Securities Exchange
- None.
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2023) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") has granted a total of 18,500,000 stock options at an exercise price of 5 cents per share for a period of 12 months to its directors, officers, and consultants. The options have been granted in accordance with the Company's omnibus equity incentive plan and the policies of the Canadian Securities Exchange. Hold periods are based on the standard exchange policy and subject to shareholder approval.
On June 17, 2022, the Company announced that it 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.
Spearmint Resources Ownership Map
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About Spearmint Resources
Spearmint's primary 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; and the recently acquired 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 primary projects include 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/174722
FAQ
What is the exercise price of the stock options granted by Spearmint Resources Inc.?
Who are the recipients of the stock options granted by Spearmint Resources Inc.?
What was the updated Mineral Resource estimate for the McGee Lithium Clay Deposit?
