Vancouver, British Columbia--(Newsfile Corp. - August 11, 2020) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: SQH) (WKN: A2AHL5) (the "Company") is pleased to announce that it has acquired a 100% interest in the 'Goose' Gold Project directly bordering the discovery made by New Found Gold. New Found Gold had recent drill intercepts of 92.9 g/t Au over 19.0m which was one of the best drill intercepts globally in 2020. The Trans-Canada Highway runs just south of the 'Goose' Project providing year-round access. 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.

James Nelson, President of Spearmint, stated, "We are thrilled to have acquired this highly prospective gold project in Newfoundland directly bordering the recent discovery by New Found Gold. The new discovery is one of the highest-grade intercepts anywhere in 2020. Having a footprint in the highly prospective Central Newfoundland Gold Belt is a great next step in providing value to our shareholders. This project is one of, if not the closest properties to the new discovery. Management is currently formulating plans to immediately begin a work program on this property as we are now well funded. We are also expecting results from the Hammernose Gold work program shortly as well as formulating a drill program for our Clayton Valley lithium project and a work program on our Perron Gold project. As you can see, the weeks ahead are shaping up to be the busiest in company history."

Figure 1: Spearmint Goose Gold Project

To view an enhanced version of Figure 1, please visit:

Mr. Greg Thomson, 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 news release.

To earn a 100-per-cent interest in the 'Goose' Project from an arm's-length party, the company will issue 2 million common shares of the company subject to exchange approval. The underlying vendor will retain a 1.5% net smelter royalty (NSR). The 'Goose' Project consists of 3 claim blocks (185 acres).

About Spearmint Resources

Spearmint's current projects include the 'Goose' Gold project consisting of 185 acres directly bordering New Found Gold Corp. as well as the 'Clayton Valley Lithium Prospects' in Nevada comprising of two claim blocks totaling 1,160 acres bordering Pure Energy Minerals & Cypress Development Corp. where Spearmint's drill results have intersected Lithium values as high as 1670 ppm Li; the 'Escape Lake North' PGM Project in Ontario consisting of ~4,000 contiguous acres directly bordering Clean Air Metals Inc.; the Case Lake South Cesium Prospect in Ontario consisting of ~5,000 contiguous acres directly bordering Power Metals Corp.'s Case Lake Cesium Property; the River Valley East Platinum-Palladium Prospect in Ontario consisting of approximately 4,700 contiguous acres directly bordering New Age Metals flagship River Valley Platinum Group Metals (PGM) project; the Carscallen West Gold Project in Ontario consisting of a ~2500 contiguous acres in the direct vicinity to Melkior Resources Inc.; the Perron-East Gold Prospects consisting of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.'s Perron property and past-producing Normetal mine; and the 'Chibougamau Vanadium Prospect' comprising of 15,493 contiguous acres directly bordering the vanadium deposit of BlackRock Metal's (private) Ilmenite vanadium project.

Spearmint's current projects also include a portfolio of prospects in the Golden Triangle of British Columbia; the 'Golden Triangle Gold Prospects' comprising of five separate claims blocks totaling 8,265 acres bordering GT Gold Corp, the 6,805 acre 'NEBA' Gold-Copper Prospects bordering Aben Resources Ltd, and the 'EL North' Nickel-Copper Prospect is a contiguous land package of 1,053 acres in the Eskay Creek Camp bordering Garibaldi Resources Corp, as well as the recent acquisition of the 4,980 acre 'Prickle' property bordering Brixton Metals Corp..

Spearmint's other projects in British Columbia include the 'Safari' Copper-Gold Prospect consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-Central BC, and the 'Hammernose' Gold Prospect consisting of 8,685 acres directly bordering Westhaven Gold Corp.'s Shovelnose Property in the Spences Bridge Gold Belt located in Southern British Columbia, Canada.

If you would like to be added to Spearmint's news distribution list, please send your email address to .

Contact Information
Tel: 1604646-6903

"James Nelson"
President
Spearmint Resources Inc.

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