Spark Energy Minerals / CA84652L2075

VANCOUVER, BC / May 9, 2025 / IRW-Press Release / Spark Energy Minerals Inc. ("Spark" or the "Company") (CSE: SPRK) (OTC: SPARF) (Frankfurt: 8PC ) is pleased to announce highly encouraging rare earth element (REE) results from its surface sampling program completed as part of its reconnaissance-focused exploration work at the Caladão target on Spark's 64,352-hectare Arapaima project in Brazil's Lithium Valley. The Caladão target is strategically located within the highly prospective Caladão granite and is adjacent to the Axel REE Limited (ASX: AXL) project.

Key exploration results:

- The Caladão target consists of a package of contiguous exploration concessions covering approximately 4,000 hectares. They are consistent in area and underlying geology with the adjacent concessions held by Axel REE Limited, which recently announced its intention to delineate a maiden resource for its REE gallium discovery (see Axel REE news releases dated March 19, 2025, and March 24, 2025).

- Results from 30 stream sediment samples collected by Spark's geological team from sub-basins, namely the Caladão Granite drainage basins, revealed anomalous REE values. These included a highly anomalous peak of 6,417 ppm total rare earth oxides (TREO); 11 samples returned values ​​exceeding 1,000 ppm TREO.

- Additional results from 36 soil samples collected along preliminary regional lines over the Caladão granite also returned highly anomalous REE values, including a peak of 3,041 ppm TREO. A total of four samples contained more than 2,000 ppm TREO and 14 samples contained more than 1,000 ppm TREO. These soil samples also returned anomalous gallium values, with a peak of 94.07 ppm Ga 2 O 3 .

- The rare earth element and gallium results from Spark's early surface exploration work to date clearly confirm the potential of the Caladão granite and the laterites overlying the clay-rich saprolite zones as an emerging center for critical mineral resource exploration. During its exploration, Spark has demonstrated REE and gallium values ​​comparable to those reported by its neighbor Axel REE during its early exploration phases.

- The exploration results from Spark and Axel REE clearly demonstrate that the Caladão granite region – adjacent to Brazil's famous Lithium Valley – is an emerging area for the discovery of rare earth element mineralization.

Figure 1: Location of the Caladão rare earth gallium target relative to Spark's extensive 64 acre concession package and the Company's priority lithium targets of Agua Branca, Groto do Maquém and Cruzeta.

Figure 2: Location of Spark's Caladão REE-gallium target concessions (blue) relative to Axel REE's adjacent concession package (green) in Brazil's Lithium Valley. The extent of the highly prospective Caladão granite itself is shown in orange.

Figure 3: Recent stream sediment and soil sampling results from Spark's Caladão REE-gallium target and concession package compared to results reported by Axel REE from the adjacent Caladão target (same name) and concession package. The extent of the highly prospective Caladão granite itself is shown in orange.

Jon Hill, Director of Spark Energy Minerals, commented: "Our team's initial mission was to identify high-quality lithium targets in our area. However, encouraged by the successes of our neighbor to the southeast, Axel REE, in rare earth element-focused exploration, we also targeted rare earth elements when analyzing stream sediment and soil samples in this trend, which we call 'Caladão'. The results from our surface sampling of the corresponding geological setting compare favorably with those from Axel REE. With Spark's concessions covering more than 4,000 hectares of Caladão granite (based on mapped outcrop, laterite cover, and geophysical results), we are very encouraged by the significant potential in these areas."

Caladão target area – soil samples

The results of 36 soil samples collected from four regional soil profiles over the Caladão granite within Spark's concessions are presented in Table 1.

In the sampling area, the Caladão granite is overlain by a distinct regolith profile up to 50 m thick, composed of an upper ferruginous laterite horizon with high aluminum and gallium content up to 20 m thick and, below, a saprolite-clay horizon with strong REE enrichment, as reported by Axel REE.

Soil samples collected along preliminary regional lines over the Caladão granite also returned highly anomalous REE results, including a peak of 3,041 ppm TREO. A total of four samples contained more than 2,000 ppm TREO and 14 samples contained more than 1,000 ppm TREO (range from 101.06 to 3,041.56 ppm TREO).

In addition, the soil samples also yielded anomalous gallium values, with a peak of 94.07 ppm Ga 2 O 3 (range from 29.55 to 94.07 ppm Ga 2 O 3 ). These results confirm that the above-mentioned geological context has potential for the discovery of rare earth element and gallium mineralization over a broad area underlain by the Caladão granite.

Table 1: Results of 36 soil samples collected by Spark along 3 regional polygons over the Caladão granite within its concessions.

Caladão target area – river sediment samples

The results of 30 soil samples collected from the sub-catchments draining the northern margin of the Caladão Granite within Spark's concessions are presented in Table 2.

These results yielded anomalous REE values, including a highly anomalous peak of 6,417 ppm TREO. Eleven samples contained values ​​greater than 1,000 ppm TREO (range from 92.10 to 6,417.48 ppm TREO).

The regional polygons along which Spark's geological team collected soil samples (results shown above) serve to clearly define the source areas for the anomalous REE and gallium values ​​detected in the stream sediment samples shown below.

Table 2: Results of 30 river sediment samples collected by Spark along 3 regional polygons over the Caladão granite within its concessions.

Plan for further exploration

Following these encouraging results, Spark is now reviewing plans to accelerate its rare earth element exploration activities, while also advancing its three primary lithium targets in advance of drilling planned for later this year, as previously announced.

The Company is also evaluating the possibility of follow-up exploration work on this emerging rare earth gallium target, which will certainly include regular but widely spaced lithogeochemical surveys using auger/air core drilling through the regolith profile across the entire concession package.

The recent completion of a financing agreement with Sorbie Capital strengthens Spark's financial position and provides a solid foundation for the Company's dual focus: conducting lithium- and rare earth element-focused exploration programs in this world-class district in Minas Gerais, Brazil.

Exploration of Spark's extensive 64,359 hectare property continues on three main fronts:

- Continuation of the first exploration phase, geological mapping and river sediment sampling, with 61 sub-catchments still to be sampled.

- Follow-up work in the priority target areas of Agua Branca, Groto do Maquém (lithium) and Caladão (rare earth metals), with results to be evaluated on an ongoing basis to develop initial drilling targets.

- Planning of more extensive programs in the Caladão region, including auger drilling, to further define the potential of the prospective REE and gallium zone adjacent to the Axel REE project.

The Company has completed the following exploration work to date:

- Geological observations: 401

- Pegmatite deposits: 123

- Artisanal quarries: 66

- Samples taken: 399

- Pegmatite trends: 13

- Sampled sub-catchments: 27

- Sub-catchments still to be sampled: 61

Eugene Hodgson, CEO and Director of Spark Energy Minerals, stated: "These initial rare earth results are very encouraging, confirming the exceptional prospectivity of our Caladão project. The fact that our early results are comparable to those achieved by Axel REE at a similar stage is very encouraging, especially given Axel's recent success. Combined with the widespread gallium anomalies and our proximity to Brazil's Lithium Valley, Spark is uniquely positioned to advance multiple opportunities for the discovery of high-quality critical minerals. With our strengthened balance sheet, we look forward to accelerating exploration and unlocking the full potential of our projects."

QA/QC protocols

Spark maintained a full chain of custody from sampling to delivery to the laboratory to ensure the reliability of the analytical results. The SGS laboratory used QA/QC protocols for blanks, standards, and duplicate samples, the results of which are reported along with those of the completed analyses.

Qualified expert:

The scientific and technical information in this document has been reviewed and approved by Jonathan Victor Hill, BSc Hons, FAUSIMM, a Qualified Person as defined by NI 43-101 and a Director of Spark Energy Minerals Inc.

About Spark Energy Minerals Inc.

Spark Energy Minerals, Inc. is a Canadian company engaged in the acquisition, exploration, and development of battery metal and mineral properties, with a particular focus on its extensive holdings in Brazil. The company's flagship project is the Arapaima Lithium Project, which spans 64,359 hectares in Brazil's renowned Lithium Valley, one of the world's most prolific mining regions. This region is gaining increasing global recognition for its vast lithium and rare earth deposits, positioning Brazil as a key player in the global energy transition.

Neither the Canadian Securities Exchange nor its regulatory authorities (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.

Further information can be found on the company’s website at

https://sparkenergyminerals.com

Email [email protected]

Contact: Eugene Hodgson, CEO, Tel. +1-778-744-0742

Disclaimer regarding forward-looking statements

Certain statements contained in this news release may constitute "forward-looking statements" or "forward-looking information" (collectively, "forward-looking information") within the meaning of the Private Securities Litigation Reform Act of 1995 and similar Canadian legislation. These statements relate to future events or future performance. The use of the words "may," "intend," "expect," "believe," "will," "projected," "estimated," "anticipates," and similar expressions, as well as statements relating to matters that are not historical facts, are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results could differ materially. In particular, this news release contains forward-looking information with respect to the Company's business, property, financing, and certain corporate changes. Furthermore, it should be noted that rock, soil, and stream sediment samples are inherently selective and may not represent the true underlying mineralization. The forward-looking information in this news release is made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

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