Sisson North Tungsten Project

On February 13, 2025 Spearmint Resources Inc. acquired the Sisson North tungsten project in New Brunswick directly bordering the Sisson tungsten mine. This new project consists of 2,582 contagious acres prospective for tungsten.

James Nelson, president of Spearmint, stated: “We feel that, with the tariff issues that are now very present, tungsten will be one of the most sought-after domestically sourced strategic metals. Similar to our foray into antimony, management feels that the China stranglehold will create a demand for tungsten and antimony as the supply chain tightens. We feel that diversifying into these sectors gives our shareholders the best opportunity for success especially now that the junior markets have become very buoyant for tungsten as witnessed by the strong movement of companies such as American Tungsten Corp., whose shares have risen from three cents in October to a high of $2.37 yesterday, showing the strong investor demand for tungsten related companies.” Mr. Nelson went on to say: “In addition, we would like to remind the market of our lithium holdings in Clayton Valley, Nevada, which are prospective for both lithium clay and lithium brine, at a time when we feel domestically sourced lithium projects will garner significantly more market interest in 2025. Despite the negative sentiment around lithium and EVs [electric vehicles] over the last two years, the recent data clearly shows that EV sales are increasing and the momentum for EV sales globally is in fact strengthening, not weakening.”

As of February, 2025, the United States, under President Donald Trump, has implemented significant tariffs on imports from China, including a 10-per-cent duty on nearly all Chinese goods, effective Feb. 4, 2025. In response, China has enacted countermeasures, notably imposing export controls on critical minerals, including tungsten, which is essential for various industries such as aerospace, electronics and defence.

Tungsten has always been a valuable material due to its unique properties, such as its extremely high melting point, strength and durability. It is used in a wide variety of applications, including manufacturing hard metals, electronics and lightbulb filaments as well as in military and aerospace technologies. However, China’s actions regarding tungsten have made it even more valuable for several reasons:

• Supply control: China is one of the world’s largest producers and exporters of tungsten, controlling a significant portion of global tungsten reserves. By tightening its production and export quotas, China reduces the global supply of tungsten. This limited supply increases the material’s value, as demand remains high but availability becomes constrained.
• Increased demand: As industries evolve, the demand for tungsten in high-technology applications — such as electronics, energy production and military hardware — has risen. The scarcity of tungsten, due to China’s restrictions, further drives up its market price as industries compete for access to this crucial resource.
• Strategic resource: Tungsten is a critical material for many industries, particularly in defence and aerospace sectors. China’s control over the supply means it can influence the global market and, in some cases, potentially use tungsten as a strategic lever in geopolitical relations, adding to its perceived value.

In short, the combination of China’s tightening control over tungsten production and the growing demand for this critical material has made tungsten even more valuable on the global market.

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.

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 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 website.