Spearmint Resources Inc. announced that drilling has now commenced on Spearmint's 100% owned 'McGee Lithium Clay Project' in Clayton Valley, Nevada directly bordering Cypress Development Corp. and Pure Energy Minerals Limited. On June 11, 2021, Spearmint received the Technical Report on its 'McGee Lithium Clay Project' which included a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of lithium carbonate equivalent.

The Technical Report was prepared in accordance with the requirements of National Instrument 43-101 by Stantec Consultant Ltd.'s qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo). The goal of this drill program will be to increase the maiden resource estimate by following the drilling recommendations provided by Stantec in the Technical Report. Spearmint's two other lithium projects in Clayton Valley, Nevada include the recently acquired 'Green Clay Lithium Project' comprised of 97 contiguous claims totaling approximately 2,000 acres, and 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.

Lithium prices have recently broken out to new all-time highs, increasing by over 500% since the start of 2021. On December 22, 2021, Cypress Development Corp. announced it "successfully completed a seven- day continuous run at the company's pilot plant.

During this period, the pilot plant operated at its designed feed rate of one tonne per day of lithium claystone from the company's Clayton Valley lithium project." As seen on the map below, Cypress Development Corp. and Spearmint share this blanket-like, lithium-bearing claystone formation. 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.

Mr. Frank Bain, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.