Spearmint Considers Spinning out the Lithium Projects for the Benefit of the Shareholders
SPEARMINT RESOURCES INC.
2905 - 700 West Georgia St.
Vancouver BC V7Y 1C6
Spearmint Considers Spinning out the Lithium Projects for the Benefit of the
Shareholders
January 07, 2021 - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF)
(FSE: A2AHL5) (the “Company”) wishes to announce the company is considering the
transfer of its lithium exploration projects to a new subsidiary that would be spun out pro
rata to the shareholders of record of Spearmint. The company's board of directors are
evaluating the merits of this transaction and will report on any developments and specifics
as management deems timely.
Spearmint can make no assurance that a spinout will take place as it would be subject to
several conditions that include board approval, sa tisfying the Canadian Securities
Exchange listing requirements, the assessment of legal and tax ramifications, determining
final details of the transaction, receipt of all regulatory approvals, any required
shareholder approval, the availability of financing for the new subsidiary, and market
conditions. The company will provide further details if and when available in accordance
with the policies of the CSE.
James Nelson, President of Spearmint states, “The rationale for this potential spinout is
to reward our shareholders of record as management feels that the total assets of
Spearmint are not being valued accordingly. By potentially spinning out the lithium
assets pro rata to Spearmint shareholders of record, we feel this would add value for our
shareholders and create two stand-alone companies that will both have an ability to create
value based on the assets they individually hold. Lithium in Nevada has seen a massive
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resurgence as witnessed by the rise in Cypress Development Corp. (CYP.v) and Noram
Ventures Inc. (NRM.cse), who we share the Nevada lithium clay deposit with. We are
awaiting the final results for the last 7 holes from our drill program in Nevada, of which
we had our highest results to date and eagerly look forward to the remaining drill results.”
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Mr. Greg Thomson, P.Geo., a director of Spearmint and a Qualified Person as defined by
National Instrument 43-101 has reviewed and approved the scientific and technical
disclosure contained within this news release.
About Spearmint Resources
Spearmint’s current projects include the ‘Goose’ Gold project directly bordering New
Found Gold Corp. (NFG.v) where Spearmint has sampled up to 973 ppb gold, as well as
the 'Clayton Valley Lithium Prospects' in Nevada comprised of two claim blocks totaling
1,160 acres bordering Pure Energy Minerals (PE.v) & Cypress Development Corp.
(CYP.v) where Spearmint's drill results have intersected Lithium values as high as 1,840
ppm Li; the ‘Escape Lake North’ PGM Project in Ontario consisting of ~4,000 contiguous
acres directly bordering Clean Air Metals Inc. (AIR.v); the Case Lake South Cesium
Project in Ontario consisting of ~7,300 acres directly bordering Power Metals Corp.’s
(PWM.v) Case Lake Cesium Property; the River Valley East Platinum-Palladium
Prospect in Ontario consisting of approximately 4,700 contiguous acres directly bordering
New Age Metals (NAM:CSE) flagship River Valley Platinum Group Metals (PGM)
project; the Carscallen West Gold Project in Ontario consisting of a ~2500 contiguous
acres in the direct vicinity to Melkior Resources Inc. (MKR.v); the Perron-East Gold
Prospects consisting of 5 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 (AMX.v) Perron property and past -producing Normetal mine; and the
‘Chibougamau Vanadium Prospect’ comprising of 15,493 contiguous acres directly
bordering the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium
project.
Spearmint's current projects also include a portfolio of prospects in the Golden Triangle
of British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of five separate
claims blocks totaling 8,265 acres bordering GT Gold Corp (GTT.v), the 2,397 acre
‘NEBA' Gold-Copper Prospects bordering Aben Resources Ltd (ABN.v), and the ‘EL
North’ Nickel-Copper Prospect is a contiguous land package of 1,053 acres in the Eskay
Creek Camp bordering Garibaldi Resources Corp (GGI.v), as well as the recent
acquisition of the 4,980 acre ‘Prickle’ property bordering Brixton Metals Corp. (BBB.V).
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Spearmint's other projects in British Columbia include the 'Safari' Copper-Gold Prospect
consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-
Central BC, and the ‘Hammernose’ Gold Prospect consisting of 8,685 acres directly
bordering Westhaven Gold Corp.’s (WHN.v) Shovelnose Property in the Spences Bridge
Gold Belt located in Southern British Columbia, Canada. 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 [email protected]
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.
This communication contains “forward-looking statements” within the meaning of
applicable Canadian securities regulations. All statements other than statements of
historical fact herein, including, without limitation, statements regarding our current and
future plans and objectives, are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be accurate
and future events and actual results could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ materially from our
expectations as well as a list of risk factors that we deem relevant are disclosed in the
documents we file from time to time via SEDAR with the Canadian regulatory agencies
to whose policies we are bound. Forward-looking statements are based on our current
assumptions, estimates and opinions and are inherently subject to significant business,
economic and competitive uncertainties and contingencies, many of which are difficult to
predict and generally beyond our control. We do not undertake any obligation to update
forward-looking statements should our assumptions, estimates or opinions change, other
than as required by law and readers are advised not to place undue reliance on forward-
looking statements.
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Statements included in this announcement, including statements concerning our plans,
intentions, and expectations, which are not historical in nature are intended to be, and are
hereby identified as, “forward-looking statements”. Forward-looking statements may
be identified by words including “anticipates”, “believes”, “intends”, “estimates”,
“expects” and similar expressions. The Company cautions readers that forward-looking
statements, including without limitation those relating to the Company’s future operations
and business prospects, are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the forward-looking statements.