Spark's Maiden Drilling Delivers 78-Meters Rare Earth Intercept Grading 2,430 ppm TREO and 94-Meters Grading 63 g/t Ga2O3

Executive Summary

• Spark Energy Minerals reported strong maiden RC drill results from the Arapaima Project in Brazil, confirming thick, near‑surface rare earth element (REE) and gallium mineralization consistent with an ionic‑adsorption clay (IAC) system.
• Hole ARA‑RC003 delivered a 78 m interval grading 2,430 ppm TREO (21% MREO), including multiple higher‑grade sub‑intervals up to 6,682 ppm TREO (33% MREO); the same hole also intersected 94 m of 63 g/t Ga₂O₃ from surface.
• The results highlight a laterally extensive, multi‑commodity critical‑minerals system and support continued drilling and financing activities to advance both REE‑Ga and lithium targets within Spark’s ~91,900 ha land package.

Key Details

• Project: Arapaima Project, Padre Paraíso, Minas Gerais State, Brazil (within “Lithium Valley”).
• Drill Program: Maiden five‑hole reverse circulation (RC) program; results reported for the first three holes (ARA‑RC001, ARA‑RC002, ARA‑RC003). Remaining two holes pending.

Hole ARA‑RC003 (94 m total depth)

• 78 m @ 2,430 ppm TREO (21% MREO) from 16 m depth
  • Includes 10 m @ 4,522 ppm TREO (25% MREO) from 50 m
  • Includes 2 m @ 6,682 ppm TREO (33% MREO) from 70 m
  • Includes 2 m @ 5,148 ppm TREO (28% MREO) from 64 m
• 94 m @ 63 g/t Ga₂O₃ from surface (max sample 84 g/t).

Hole ARA‑RC001 (58 m total depth)

• 28 m @ 2,031 ppm TREO (21% MREO) from 30 m
  • Includes 2 m @ 4,741 ppm TREO (27% MREO) from 46 m
  • Includes 6 m @ 2,663 ppm TREO (27% MREO) from 48 m
• 58 m @ 52 g/t Ga₂O₃ from surface.

Hole ARA‑RC002 (44 m total depth)

• 16 m @ 1,353 ppm TREO (22% MREO) from 26 m
  • Includes 2 m @ 2,244 ppm TREO (22% MREO) from 30 m
  • Includes 2 m @ 2,075 ppm TREO (28% MREO) from 38 m

• 44 m @ 47 g/t Ga₂O₃ from surface.

• Geological Interpretation: Continuous, clay‑rich weathering profiles host the REE‑Ga mineralization; high proportion of magnet rare earth oxides (MREO) up to 33% of TREO indicates significant heavy‑REE content suitable for permanent magnets.

• Land Position: Spark controls >91,000 ha in the district, providing upside to expand the discovered mineralized footprint.
• Exploration Upside: Four drill‑ready lithium‑bearing pegmatite targets identified within the broader land package; slated for future diamond drilling.
• Financing Outlook: Company evaluating strategic and non‑dilutive financing alternatives to accelerate REE‑Ga and lithium program development.

Notable Quotes

“These initial drill results confirm the presence of thick, near‑surface rare earth and gallium mineralization at Arapaima and validate our exploration model,” – Dr. Fernando Tallarico, CEO, Spark Energy Minerals Inc.

All technical information reviewed and approved by Qualified Persons Jonathan Victor Hill, BSc (Hons), FAusIMM, and Dr. Fernando Tallarico, P.Geo., in accordance with NI 43‑101.