Spartan Metals Announces $4.4 Million Private Placement

Vancouver, Canada — April 2, 2026 — Leads & Copy — Spartan Metals Corp. (TSX-V: W) has announced a non-brokered private placement to raise up to $4.4 million. The funds will be used for exploration projects and general working capital.

The private placement involves the sale of up to 8 million units at $0.55 per unit. Each unit includes one common share of the company and one-half of a non-transferable share purchase warrant.

Each whole warrant allows the holder to purchase an additional share of Spartan Metals at $0.85 per share for 12 months from the issue date. If the company's share price on the TSX Venture Exchange exceeds $1.10 for more than 10 consecutive trading days, Spartan Metals can accelerate the warrant's expiry date. The company would issue a press release stating that the warrants will be void within 14 calendar days if not exercised.

Certain company insiders may acquire securities in the private placement. Such participation would be a “related party transaction” under Multilateral Instrument 61-101. However, the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 because the fair market value of shares issued or the consideration paid will not exceed 25% of the company's market capitalization.

Spartan Metals may pay finders fees of 6% in cash and warrants related to the private placement. Each finder warrant allows the holder to acquire one additional common share at $0.85 for 12 months, subject to the potential acceleration of the expiry date.

All securities issued in the private placement are subject to a four-month-plus-one-day hold period from the closing date, as per Canadian securities laws.

Spartan Metals is focused on developing critical minerals projects in stable mining jurisdictions in the Western United States. The company emphasizes building a portfolio of diverse strategic defense minerals, including tungsten, rubidium, antimony, bismuth, and arsenic.

The company’s project portfolio includes an option to acquire 100% of the Victorio Tungsten-Molybdenum Project in New Mexico and the Eagle Tungsten-Silver-Rubidium Project in Nevada. The Victorio project hosts the largest tungsten resource in the United States, with concentrations of beryllium and fluorspar. The Eagle Project contains the highest-grade historic tungsten resource in the United States and includes under-defined resources of high-grade silver, rubidium, antimony, bismuth, indium, as well as precious and base metals.

Brett Marsh, President, CEO & Director of Spartan Metals, made the announcement on behalf of the board.

This news release does not constitute an offer to sell securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Source: Spartan Metals Corp.