RETRANSMISSION: Spearmint More Than Doubles the Acreage of the George Lake South Antimony Project in New Brunswick, Canada

Rhea-AI Summary

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) has expanded its George Lake South Antimony Project in New Brunswick, Canada, more than doubling its acreage to 4,722 contiguous acres. This strategic expansion comes in response to China's recent ban on antimony exports to the USA.

The project is located near the historic Lake George Antimony Mine, which was North America's largest primary antimony producer from 1876 to 1996. Antimony prices have surged significantly, with antimony trioxide prices in Rotterdam increasing by 228% to $39,000 per metric tonne as of November 28.

Antimony is important for semiconductors, battery storage technology, and military applications. The company plans to actively pursue antimony opportunities and will soon update shareholders on its crypto diversification plan.

News Market Reaction – SPMTF

-20.23%

1 alert

-20.23% News Effect

On the day this news was published, SPMTF declined 20.23%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - December 16, 2024) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce that it has more than doubled the acreage on the recently acquired George Lake South Antimony Project in New Brunswick, Canada. This project now consists of 4,722 contiguous acres prospective for antimony.

James Nelson, President of Spearmint stated, "In light of the recent ban of antimony by China to the USA, we made this strategic acquisition increasing the size of the George Lake South Antimony Project. Management feels that antimony will be one of the most sought after resources in 2025 and we plan to pursue this space with vigor and are currently evaluating additional projects. Management is formulating a plan on the George Lake South Antimony Project, and management also intends to update the market on Spearmint's crypto diversification plan in the near future as well. These are truly exciting times for Spearmint and Spearmint shareholders."

Recently, China banned exports of critical minerals, including antimony, to the United States. As trade tensions escalate between the United States and China, this move clearly emphasizes the urgent need for Western nations to secure reliable long-term sources of these critical minerals, which are now at the forefront of the global supply chain crisis.

Antimony is an essential component in semi-conductors, battery storage technology, and has several military applications. Prices of antimony trioxide in Rotterdam had soared by 228 per cent since the beginning of the year to $39,000 a metric tonne on Nov. 28, as shown by data from information provider Argus. The move is a considerable escalation of tensions in supply chains where access to raw material units is already tight in the West.

This new project is in the direct vicinity of the Lake George Antimony Mine in New Brunswick which was operated intermittently from 1876 to 1996 and was once the largest primary antimony producer in North America. Antimony's primary uses are:

• Semiconductors and Electronics: The growing electronics and semiconductor industries require antimony, making it a critical material for technological development, including infrared sensors and components for military and aerospace uses.
  
  
• Battery Technology: Antimony is also used in lead-acid batteries and in emerging technologies, such as energy storage and lithium-ion battery enhancements, which is a significant driver of demand in the future.
  
  
• Flame Retardants: The demand for antimony remains strong due to its use in flame-retardant materials, which are essential in a wide range of products like textiles, electronics, and plastics. As safety regulations around fire-resistant materials become stricter, the need for antimony-based compounds continues to grow.

About Spearmint Resources Inc.

Spearmint holds the include four projects in Clayton Valley, Nevada: the 1,136-acre 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 280-acre Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; the 124-acre Green Clay lithium project; and the 248-acre Clayton Ridge gold project and now the 4,722 acre George Lake South Antimony Project in New Brunswick.

For a cautionary note and disclaimer on the crypto diversification, please refer to the news release dated November 12, 2024.

Qualified person for mining disclosure:

The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a director of the company and qualified person as defined by National Instrument 43-101.

This property was acquired via staking.

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/233899

FAQ

How many acres does SPMTF's expanded George Lake South Antimony Project now cover?

The expanded George Lake South Antimony Project now covers 4,722 contiguous acres in New Brunswick, Canada.

What caused antimony trioxide prices to surge in Rotterdam as of November 2024?

Antimony trioxide prices in Rotterdam increased by 228% to $39,000 per metric tonne, primarily due to China's export ban to the USA and tight supply chains in the West.

What are the main industrial applications of antimony according to SPMTF's announcement?

According to the announcement, antimony is essential for semiconductors, electronics, battery storage technology, military applications, and flame retardants in textiles and plastics.

What is the historical significance of the Lake George Antimony Mine near SPMTF's project?

The Lake George Antimony Mine operated from 1876 to 1996 and was once North America's largest primary antimony producer.

Why did Spearmint Resources (SPMTF) expand its antimony project in December 2024?

SPMTF expanded the project in response to China's ban on antimony exports to the USA, anticipating antimony to be one of the most sought-after resources in 2025.