Spearmint Resources Stock Price, News & Analysis

Adelayde Exploration Inc., trading in the United States under the symbol SPMTF, is the new name of the company previously known as Spearmint Resources Inc. According to company news releases, the board of directors approved a consolidation of the company’s issued and outstanding common shares on the basis of one post-consolidated share for every ten pre-consolidated shares and a related corporate rebranding. Effective June 30, 2025, the company’s shares began trading on the Canadian Securities Exchange under the name Adelayde Exploration Inc. and the symbol "ADDY," while continuing to be quoted on the OTC Pink market in the United States as SPMTF.

The company is involved in resource exploration projects, with a focus that has included lithium, gold, antimony and tungsten, as described in its news releases under the Spearmint Resources name. Its projects include four projects in Clayton Valley, Nevada: the McGee lithium clay deposit, the Elon lithium brine project, the Green Clay lithium project and the Clayton Ridge gold project. The McGee lithium clay deposit has a reported mineral resource estimate expressed in tonnes of lithium carbonate equivalent, and the Elon lithium brine project is described as having access to deep parts of a lithium brine basin in production in North America. The company has also disclosed projects in New Brunswick, Canada, including the George Lake South Antimony Project and the Sisson North Tungsten Project, each described as prospective for their respective commodities.

In New Brunswick, the company reported acquiring the George Lake South Antimony Project, initially consisting of 1,945 contiguous acres and later expanded to 4,722 contiguous acres prospective for antimony. The project is described as being in the direct vicinity of the historic Lake George Antimony Mine, which the company notes was once the largest primary antimony producer in North America and operated intermittently over many decades. The company has stated that management is formulating plans for work on this antimony project and has highlighted antimony’s use in semiconductors, battery storage technology, and flame-retardant materials in its public communications.

The company also announced the acquisition and subsequent expansion of the Sisson North Tungsten Project in New Brunswick. Initially reported at 2,582 acres prospective for tungsten and directly bordering the Sisson Tungsten Mine, the project was later described as expanded to approximately 4,890 contiguous acres. In its news releases, the company has linked interest in tungsten to trade tensions and export controls affecting critical minerals, and has indicated that it views domestically sourced strategic metals such as tungsten and antimony as important areas of focus.

In Clayton Valley, Nevada, the company’s projects are described in detail in multiple news releases. The McGee lithium clay deposit is reported as a 1,136-acre project with an updated mineral resource estimate prepared under Canadian National Instrument 43-101 standards, expressed in indicated and inferred tonnes of lithium carbonate equivalent. The company notes that this project directly borders properties held by other lithium-focused companies. The Elon lithium brine project covers 280 acres and is described as having access to some of the deepest parts of the only lithium brine basin in production in North America. The Green Clay lithium project covers 124 acres, and the Clayton Ridge gold project covers 248 acres. These Nevada projects are repeatedly cited by the company as part of its lithium and gold exploration focus.

Beyond mineral exploration, the company has disclosed a diversification step into the crypto asset space. In late 2024 and early 2025, news releases reported that the company made an initial purchase of the cryptocurrency Solana and later more than doubled its Solana holdings. Management described this as a crypto diversification plan, stating that the company intended to commit a portion of its cash on hand to Solana and to continue this plan of action, while also emphasizing ongoing work and planning on its mineral projects.

The share consolidation and name change to Adelayde Exploration Inc. were carried out under the Business Corporations Act (British Columbia) and approved by the company’s board of directors. The consolidation included provisions for the treatment of fractional shares, with fractions below one half of a share cancelled and fractions of at least one half of a share rounded up to one whole share. The company’s news releases describe proportional adjustments to the exercise price and number of shares underlying outstanding options, warrants and convertible debentures in connection with the consolidation.

In its communications, the company has also provided procedural information for shareholders, such as instructions for registered and beneficial shareholders regarding share certificate exchanges following the consolidation, and guidance on voting procedures for its annual general meeting during a postal strike in Canada. These disclosures indicate attention to regulatory and shareholder communication requirements, including references to Canadian Securities Administrators’ blanket orders and continuous disclosure rules.

Investors reviewing Adelayde Exploration Inc. (historically Spearmint Resources Inc.) through the SPMTF symbol are therefore looking at a junior resource issuer that has publicly described a portfolio of exploration-stage projects in lithium, gold, antimony and tungsten, primarily in Nevada and New Brunswick, and that has also reported a strategic allocation to the cryptocurrency Solana. The company’s own news releases are the primary source for information about its projects, corporate actions such as the share consolidation and name change, and its diversification activities.

Business focus and project areas

According to its news releases, the company’s business focus includes:

• Lithium exploration through the McGee lithium clay deposit, the Elon lithium brine project and the Green Clay lithium project in Clayton Valley, Nevada.
• Gold exploration through the Clayton Ridge gold project in Clayton Valley, Nevada.
• Antimony exploration through the George Lake South Antimony Project in New Brunswick, Canada.
• Tungsten exploration through the Sisson North Tungsten Project in New Brunswick, Canada.
• Crypto diversification via disclosed purchases of the cryptocurrency Solana.

Each of these focus areas is described in the company’s news releases in terms of project size in acres, commodity focus and, in the case of the McGee lithium clay deposit, the existence of a mineral resource estimate prepared under NI 43-101 by an external consulting firm.

Corporate actions and trading symbols

The company has reported the following key corporate actions related to its securities and identity:

• Approval by the board of directors of a consolidation of the company’s common shares on a one-for-ten basis.
• A related change of the company’s name from Spearmint Resources Inc. to Adelayde Exploration Inc..
• A change of the trading symbol on the Canadian Securities Exchange to ADDY, effective June 30, 2025.
• Continued quotation of the company’s shares on the OTC Pink market in the United States under the symbol SPMTF, as referenced in the company’s news releases.

These events are documented in the company’s June 24, 2025 and May 27, 2025 news releases, which describe the rationale for the consolidation and the mechanics of the name and symbol changes.

FAQs about Adelayde Exploration Inc. (SPMTF)