Spartan Metals' Exploration Program Confirms Tungsten Skarn Discoveries at past Producing Mine at Eagle Project, Nevada

Vancouver, British Columbia--(Newsfile Corp. - June 23, 2026) - Spartan Metals Corp. (TSXV: W) (OTCQB: SPRMF) (FSE: J03) ("Spartan" or the "Company") announces the confirmation of two tungsten skarn zones at its Tungstonia Claims within its 100% owned Eagle Tungsten-Silver-Rubidium Project, Nevada.

Highlights:

• Skarn mineralization confirmed at past-producing Yellow Jacket Mine where historic production grades were approximately 1.12% tungsten trioxide ("WO₃")¹ (Figure 1) with two samples substantially above at 1.87% WO₃ and 1.67% WO₃
  • Rock sampling from within mine entrance and dumps delivered tungsten assays of 0.99% 1.87%, 0.89%, and 1.67% WO₃and highlights 3.3% Znand 1,320 ppm beryllium ("Be"),which has not been previously reported at the Eagle Project
  • Backpack core drilling returned 0.3 meters (m) 0.21% WO₃ and 0.33% zinc ("Zn")
• New tungsten-skarn discovery within the tungsten soil anomaly in southeast of project (SE Tungsten Anomaly) reported in December 2025 (Figure 1)
  • Rock chip sampling returned 0.34% WO₃ and 1.9 g/t Ag and 144 ppm Be
  • Backpack core drilling encountered previously unobserved molybdenum ("Mo") mineralization (Figure 2) ranging between 0.01%-0.08% Mo along with significant rubidium ("Rb") ranging between 1,122 – 2,122 ppm Rb and silver ("Ag") ranging between 1.2-3.1 g/t Ag
• Molybdenum and beryllium mineralization along with significant tungsten and silver grades encountered over a length and width of approximately 2 kilometers (km), suggests multiple pulses of mineralization.

Brett Marsh, Spartan's President and CEO stated, "The identification of a new tungsten-skarn occurrence within a previously defined tungsten soil anomaly marks an important exploration milestone at our Tungstonia claims and further validates our systematic targeting approach across the property. Particularly encouraging is the discovery molybdenum and beryllium mineralization associated with the tungsten skarn zones. The presence of these critical metals alongside tungsten not only highlights the evolving potential of the Eagle Project but also suggests a larger and more complex mineralizing system than was previously recognized.

"The occurrence of multiple critical metals across these newly identified skarn zones supports our interpretation that Eagle may host a large-scale mineralizing system with the potential to extend across multiple target areas within the district. These results continue to strengthen our confidence in the broader exploration potential of the project and provide compelling targets for future drilling."

Mr. Marsh continued, "Equally significant is the confirmation of skarn-hosted mineralization at the past-producing Yellow Jacket Mine, including tungsten grades of up to 1.87% WO₃ in hand sample. These results provide additional support for the geological model underpinning the district and demonstrate the presence of meaningful tungsten mineralization beyond the known vein systems. Together, the new skarn discovery and the confirmation of high-grade mineralization at Yellow Jacket reinforce the prospectivity of Spartan's Tungstonia claims and highlight the opportunity to further evaluate both the established tungsten-silver-rubidium vein systems and these emerging skarn-style targets that have similarities to Carbonate Replacement Deposit districts worldwide. As we continue our exploration efforts, our focus will remain on advancing our understanding of the scale, continuity, and controls of mineralization across the Eagle Project."

The discoveries, part of the exploration program announced on May 21, 2026, were confirmed utilizing a portable backpack diamond core drill with a 36.4-millimeter (mm) diameter core and rock chip/channel sampling. The backpack drill is intended to rapidly evaluate potential drill locations prior to mobilization of larger diamond core drills. Figure 1 shows the location of three backpack drillholes STS-26-007 and STS-26-002 and STS-26-003 and five rock chip/channel samples.

The vertical holes were collared in altered Guilmette Formation – a geological unit that hosts many deposits across Nevada – close to where it contacts the Tungstonia Pluton with STS-26-007 near the past-producing Yellow Jacket Mine and STS-26-002 and STS-26-003 within the SE Tungsten Anomaly. True thicknesses/widths of mineralization are unknown as further definition is required to define the mineralization orientations.

The Yellow Jacket Mine is located in the Guilmette Formation that has a north-south strike and dips moderately toward the northwest, within the Tungstonia Claim block (Figure 1). Tungsten-skarn mineralization is present as scheelite in two zones that total approximately 435m in strike length. Figures 2 and 3 show examples of typical scheelite mineralization from Yellow Jacket under ultraviolet (UV) light.

The SE Tungsten Anomaly is also located within the Guilmette Formation, however, at this location the Guilmette presents an east-southeast strike and near vertical dip where in contact with the Tungstonia Granite. This steeply dipping section with tungsten skarn mineralization has the potential to reach up to 400 m in thickness (Figure 4) at the SE Tungsten Anomaly. Spartan's ongoing geophysics program will help to confirm this potential.

Next Steps

Spartan will continue to execute its 2026 exploration program as discussed in the May 21, 2026, announcement including:

• Continued surface sampling of soils and rocks – including continued backpack drilling – over claims acquired in November 2025 to potentially extend previously identified tungsten, silver, and rubidium soil anomalies.

• In Process: Ground geophysics surveys to inform depths of existing 2+ km tungsten-silver veins and potential tungsten skarn mineralization that is coincident with tungsten-silver-rubidium soil anomalies and at Yellow Jacket.

• Early to mid-August: Approximately 3,000 meters (m) diamond core drilling at high priority targets identified through surface sampling and geophysics surveys.

Table 1 Backpack drill core results from Tungstonia Tungsten Skarn Zones (holes drilled vertically).

Table 2 Rock chip sample results from Tungsten Skarn Zones

Figure 1 Eastern portion of the Tungstonia claims showing the past-producing Tungstonia and Yellow Jacket Mines with rock chip and selected backpack core drill results confirming skarn mineralization at Yellow Jacket and SE Tungsten Anomaly. Section line A-A' shown for Figure 4 alignment.

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https://images.newsfilecorp.com/files/12484/302423_c93e348f94d209bc_001full.jpg

Figure 2Hole STS-26-003 showing molybdenum-bearing mineralization not previously documented at the Eagle Project. Lower image shown under UV light.

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Figure 3 Rock samples Yellow Jacket Mine shown under ultraviolet (UV) light with scheelite (CaWO₄) mineralization fluorescing light blue to white. Samples YJ-2026-001 and YJ-2026-003 collected from mine dump and samples YJ-2026-004 and YJ-2026-005 from within the mine entrance. Prevalence of scheelite mineralization in altered Guilmette Formation supports skarn interpretation.

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Figure 4 Geologic cross section A-A' showing relationship of Yellow Jacket Mine and SE Tungsten Anomaly - both within Guilmette formation. Note the potential thickness of Guilmette under SE Tungsten Anomaly could reach up to ~400m. The in process geophysics program will help to identify lateral and vertical extent of potential mineralization at both locations.

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QA/QC Procedures

Samples were submitted to American Assay Lab (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Samples are prepared using industry standard-prep methods and analyzed using method IO-4AB51 (51 element suite: 0.5g 4-acid plus boric acid hot block, ICP-OES plus IM-4ABEx ICP-MS for Rb). AAL undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Spartan's QAQC includes regular insertion of CRM standards, duplicates, and blanks with a stringent review of results completed by the Company's Qualified Person, Brett R. Marsh, President and CEO of Spartan Metals.

Qualified Person Statement

The technical information contained in this news release has been prepared under the supervision of, and approved by Brett R. Marsh, CPG. Mr. Marsh is President and CEO of Spartan Metals Corp. and a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

References

1 Nevada Bureau of Mines and Geology, 1988, Bulletin 105 p213-217

2 Hobbs S.W., 1944 War Minerals Report #224, Wartime Studies by the US Bureau of Mines

About The Eagle Project

The Eagle Project presents a unique opportunity to delineate one of the largest and highest-grade Tungsten ("W") and Rubidium ("Rb") districts in the United States. The Project consists of the past-producing (1) high-grade Tungstonia, Yellow Jacket, and Rees/Antelope tungsten (W-Cu-Ag) mines. Operations at these mines were from 1915 to 1942 with intermittent small-scale production occurring until 1956. Tungsten production from these mines totaled 8,379 units at grades between 0.6%-0.9% WO₃

The Project is ~36.5 km² in size and located approximately 120 kilometers northeast of the town of Ely, in the Kern Mountains of White Pine County, Nevada. The Project covers 9,033 acres consisting of 445 Bureau of Land Management (BLM) unpatented lode mining claims.

Three deposit types are present at Eagle; Porphyry, Skarn, and Carbonate Replacement (CRD) that contain significant or anomalous grades of Tungsten (W), Silver (Ag), and Rubidium (Rb) plus Cu-Sb±Au-Pb-Zn-Bi-As across three project focus areas that also includes the potential to recover W-Rb-Ag from the legacy Tungstonia Mill Tailings.

About Spartan Metals Corp.

Spartan Metals is focused on developing critical minerals projects in well-established and stable mining jurisdictions in the Western United States, with an emphasis on building a portfolio of diverse strategic defense minerals such as Tungsten, Rubidium, Antimony, Bismuth, and Arsenic.

Spartan's high quality project portfolio includes an option to earn 100% of the Victorio Tungsten-Molybdenum Project in New Mexico and the 100% owned Eagle Tungsten-Silver-Rubidium Project in Nevada. Victorio hosts the largest tungsten resource in the United States and contains significant concentrations of beryllium and fluorspar, while the Eagle Project consists of the highest-grade historic tungsten resource in the USA which includes significant under-defined resources consisting of: high-grade silver; rubidium; antimony; bismuth; indium; as well as precious and base metals, and more information about Spartan Metals can be found at www.SpartanMetals.com

On behalf of the Board of Spartan
"Brett Marsh"
President, CEO & Director

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release

Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-Looking Information in this news release, Spartan has applied several material assumptions, including, but not limited to, assumptions that: the current objectives concerning the Company's projects can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; competition; the ability of the Company to obtain and retain all applicable regulatory and other approvals and other assumptions, risks and uncertainties.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

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Source: Spartan Metals Corp.

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