Spartan Metals - Announces Adoption of New Equity Incentive Plans and the Grant of Security-Based Compensation

Core Viewpoint - Spartan Metals Corp. has received shareholder approval for its new 10% rolling stock option plan and share unit plan, aimed at incentivizing directors, officers, employees, and consultants [1][2]. Group 1: Equity Incentive Plans - The Equity Incentive Plans allow the issuance of stock options, restricted share units, and deferred share units, with the Option Plan capped at 10% of the issued and outstanding common shares at the time of grant [2]. - The Share Unit Plan reserves a maximum of 2,500,000 common shares for issuance [2]. - Detailed information regarding these plans is available in the management information circular filed on SEDAR+ [3]. Group 2: Grants and Options - The company has granted a total of 1,850,000 options to various stakeholders, exercisable at $0.395 per share for five years [4]. - Additionally, 682,000 deferred share units and 60,000 restricted share units have been granted under the Share Unit Plan, subject to applicable securities law hold periods [4]. Group 3: Company Focus and Projects - Spartan Metals is focused on developing critical minerals projects in stable mining jurisdictions in the Western United States, emphasizing strategic defense minerals such as Tungsten, Rubidium, Antimony, Bismuth, and Arsenic [5]. - The flagship project, the Eagle Project in eastern Nevada, contains one of the highest-grade historic tungsten resources in the USA, along with significant under-defined resources of other minerals [6].