Spark Energy Minerals Comments on Recent Disclosure Pursuant to CIRO's Request

Core Viewpoint - Spark Energy Minerals Inc. has issued a news release to clarify previous disclosures regarding its Arapaima Project, emphasizing the need for compliance with NI 43-101 standards and retracting prior TREE and MREO values pending further testing [1][4][9]. Disclosure Clarifications - The company acknowledges that certain assay results presented in previous disclosures used TREE and MREO values that do not accurately reflect the economic significance and recoverability of each element, leading to potentially misleading equivalent grades [3][4]. - Investors are advised not to rely on previously disclosed TREE or MREO values, as the company retracts all prior figures until metallurgical testing is completed [4][9]. Project Status - The Arapaima Project is still in the exploration phase and has not reached the stage of mineral resource estimation or economic analysis, meaning the presence of minerals in adjacent properties does not guarantee similar findings at Arapaima [5][10]. - Comparisons made in prior disclosures between Arapaima and nearby projects were not compliant with NI 43-101 and should not be interpreted as indicative of Arapaima's potential [5]. Promotional Materials - The company recognizes that some promotional materials contained speculative commentary and has implemented enhanced review procedures to ensure compliance with securities laws [6][9]. - Statements suggesting that further exploration may lead to the development of mineral resources are considered overly promotional and should not be relied upon [6]. Future Compliance Measures - Moving forward, all technical and promotional disclosures will be reviewed by a Qualified Person and the company's legal team to ensure compliance with NI 43-101 [9]. - The company aims to provide balanced and factual technical information in its disclosures and will avoid using TREE/MREO values without appropriate supporting data [9]. Company Overview - Spark Energy Minerals Inc. is focused on the exploration and development of critical minerals in Brazil, particularly in the Lithium Valley, which is known for its lithium, gallium, and rare-earth potential [10]. - The Arapaima Project covers approximately 91,900 hectares and targets lithium and gallium-REE mineralization, contributing to the secure supply of minerals for clean energy [10].