Spartan Metals Announces Non-Brokered Private Placement

Not for dissemina�on in the United States or through U.S. newswires All dollars are Canadian unless otherwise noted

Vancouver, Canada, April 2, 2025 – Spartan Metals Corp. (“Spartan” or the “Company”) (TSX-V: W) is pleased to announce a non-brokered private placement (the “Private Placement”) to raise gross proceeds of up to $4,400,000 through the sale of up to 8,000,000 units (the “Units”) at the price of $0.55 per Unit. Each Unit consists of one common share (a “Share”) of the Company and one-half of one non-transferable share purchase warrant (each a whole warrant a “Warrant”). Each Warrant en�tles the holder to purchase one addi�onal Share of the Company at a price of $0.85 per share for a period of 12 months from the date of issue (the “Expiry Date”) subject to, in the event that the closing price of the Shares of the Company on the TSX Venture Exchange (the “Exchange”) or other trading system exceeds $1.10 for more than ten consecu�ve trading days, the Company will have the right to accelerate the Expiry Date by dissemina�ng a press release announcing that the Warrants will be void within 14 calendar days if not exercised within that �me period (the “Accelera�on Right”).

Certain insiders of the Company may acquire securi�es under the Private Placement. Any such par�cipa�on would be considered to be a “related party transac�on” as defined under Mul�lateral Instrument 61-101 (“MI 61-101”). The transac�on will be exempt from the formal valua�on and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the considera�on paid by such persons will exceed 25% of the Company's market capitaliza�on.

The Company may pay finders fees of 6% in connec�on with the Private Placement in cash and warrants (“Finder Warrant”). Each Finder Warrant will en�tle the holder to acquire one addi�onal common share in the capital of the Company at a price of $0.85 for 12 months un�l the Expiry Date and subject to the Accelera�on Right.

All securi�es to be issued in the Private Placement will be subject to a four month plus one day hold period from the closing date under applicable securi�es laws in Canada.

The proceeds from the sale of the Private Placement will be used to fund the Company’s explora�on projects and for general working capital.

This news release does not cons�tute an offer to sell or solicita�on of an offer to sell any securi�es in the United States. The securi�es have not been and will not be registered under the United States Securi�es Act of 1933, as amended (the “U.S. Securi�es Act”) or any state securi�es laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securi�es Act and applicable state securi�es laws or an exemp�on from such registra�on is available.

About Spartan Metals Corp.

Spartan Metals is focused on developing cri�cal minerals projects in well-established and stable mining jurisdic�ons in the Western United States, with an emphasis on building a por�olio of diverse strategic defense minerals such as Tungsten, Rubidium, An�mony, Bismuth, and Arsenic.

Spartan’s high quality project por�olio includes an op�on to earn 100% of the Victorio Tungsten- Molybdenum Project in New Mexico and the Eagle Tungsten-Silver-Rubidium Project in Nevada. Victorio hosts the largest tungsten resource in the United States and contains significant concentra�ons of beryllium and fluorspar, while the Eagle Project consists of the highest-grade historic tungsten resource in the United States which includes significant under-defined resources consis�ng of: high-grade silver; rubidium; an�mony; bismuth; indium; as well as precious and base metals.

More informa�on about Spartan Metals can be found at www.SpartanMetals.com

On behalf of the Board of Spartan “Bre� Marsh”

President, CEO & Director

Further Informa�on:

Bre� Marsh, M.Sc., MBA, CPG President, CEO & Director 1-888-535-0325 [email protected]

Neither the TSX Venture Exchange nor its Regula�on Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release

Forward Looking Statements

This news release contains statements that cons�tute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertain�es and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the an�cipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, iden�fied by the words “expects,” “plans,” “an�cipates,” “believes,” “intends,” “es�mates,” “projects,” “poten�al” and similar expressions, or that events or condi�ons “will,” “would,” “may,” “could” or “should” occur. Forward-Looking Informa�on in this news release, Spartan has applied several material assump�ons, including, but not limited to, assump�ons that TSX Venture Exchange approval will be granted in a �mely manner subject only to standard condi�ons; that all condi�ons precedent to comple�on of the Private Placement will be sa�sfied in a �mely manner: the current objec�ves concerning the Company’s projects can be achieved and that its other corporate ac�vi�es will proceed as expected; that general business and economic condi�ons will not change in a materially adverse manner; and that all requisite informa�on will be available in a �mely manner.

Although the Company believes the forward-looking informa�on contained in this news release is reasonable based on informa�on available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertain�es and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assump�ons, known and unknown risks and uncertain�es and other factors, which may cause actual results, levels of ac�vity and achievements to differ materially from those expressed or implied by such statements.

Examples of such assump�ons, risks and uncertain�es include, without limita�on, assump�ons, risks and uncertain�es associated with general economic condi�ons; adverse industry events; future legisla�ve and regulatory developments; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; compe��on; the ability of the Company to obtain and retain all applicable regulatory and other approvals and other assump�ons, risks and uncertain�es.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.