Spearmint Sends Samples for Metallurgical Testing After Discovering Lithium in All 10 Holes Drilled on its Lithium Clay Project in Clayton Valley, Nevada

SPEARMINT RESOURCES INC.

2905 - 700 West Georgia St.

Vancouver BC V7Y 1C6

Spearmint Sends Samples for Metallurgical Testing After Discovering Lithium in

All 10 Holes Drilled on its Lithium Clay Project in Clayton Valley, Nevada

February 12, 2021 - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF)

(FSE: A2AHL5) (the “Company) is very pleased to announce that samples have now

been sent to McClelland Laboratories Inc. of Sparks, Nevada for the planned metallurgy

on the lithium hosted claystone drilled on Spearmint’s property. Spearmint’s recently

completed 10-hole drill program on its Clayton Valley, Nevada lithium clay project

discovered lithium in every hole, achieving a 100 percent success rate, directly bordering

Cypress Development Corp (CYP-TSX.V). The results from this recent phase of drilling,

combined with assistance from the metallurgist, will now enable Spearmint to

commence the necessary steps towards defining a potential resource

calculation. 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.

Spearmint had strong, consistent drill results showing that the lithium is very near the

surface which would be optimal versus deeper projects. Highlights from the 10-hole drill

program included the following results (see map): Assays from drill hole #5 intersected

lithium values as high as 1840 parts per million lithium (ppm Li), averaging 846 ppm Li

over 270 feet, including 35 feet averaging 1,343 ppm Li. Hole #7 reported a high of 1,550

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ppm Li, averaging 812 ppm Li over 310 feet, including 55 feet of 1,214 ppm Li. Hole #8

returned a high of 1,280 ppm Li, averaging 723 ppm Li over 205 feet, including 1,036

ppm Li over 35 feet. Hole #6 returned a high of 1490 ppm Li, averaging 966 ppm Li over

220 continuous feet. Hole #9 returned a high value of 950 ppm Li from a total of 155 feet

drilled. Hole #11 returned a high of 1490 ppm Li, averaging 817 ppm Li over 235 feet,

including 110 feet averaging 1020 ppm Li, starting at 20 feet from surface. Hole #12

returned a high of 1370 ppm Li, averaging 1042 ppm Li over 105 feet, starting at 10 feet

from surface. Hole #10 returned a high of 1360 ppm Li. Hole #13 returned a high of 1320

ppm Li, averaging 845 ppm Li over 200 feet, including 70 feet averaging 1026 ppm Li,

starting at 5 feet from surface. Hole #14 returned a high of 1730 ppm Li, averaging 900

ppm Li over 225 feet, including 55 feet averaging 1046 ppm Li, starting at 15 feet from

surface.

James Nelson President of Spearmint Resources stated, "We are excited to take the next

step in the process towards determining a potential resource calculation for our Clayton

Valley Lithium Clay Project in Nevada that directly borders Cypress Development Corp.

(CYP-TSX.v). On February 9, 2021, Cypress announced a $17 million bought deal

offering to further advance it’s Clayton Valley Project, which clearly illustrates the strong

demand of investor interest in this world class lithium district. Spearmint’s recently

completed drill program, that discovered lithium in all 10 out of 10 holes, was drilled

directly into the shared blanket-like claystone deposit where Cypress already has total

measured plus indicated resource estimates of 929.6 million tonnes averaging 1,062 ppm

Li or 5.2 million tonnes LCE, announced on August 11, 2020. Clayton Valley, Nevada

continues to receive significant global attention as the premier lithium address in the USA

hosting the only producing lithium deposit in North America. Lithium prices are rising

on the insatiable demand in batteries for Electric Vehicles and we see no sign of that hyper

growth abating this decade, therefore causing a massive demand for ethically sourced,

domestic lithium production. Spearmint is right now in the best financial shape in the

company's history with zero need or expectation to raise any money in the foreseeable

future. We are moving forward at a rapid rate right now at a time when demand for

lithium is approaching all-time highs. Management is confident about the short and long-

term future of Spearmint.”

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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).

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

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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.