Spark Reports 1.54% TREO in Boa Vista Soil and 137.1 g/t Gallium Oxide in Encachoeirado Rock Sample

Magnet rare earth oxides make up 35.3% of TREO in the peak Boa Vista soil sample; surface results guide the next tests across two Arapaima targets

October 23, 2026 7:00 AM EDT | Source: Spark Energy Minerals Inc.

Vancouver, British Columbia--(Newsfile Corp. - October 23, 2026) - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark" or the "Company") reports surface sampling results that guide the next exploration steps at Boa Vista and Encachoeirado, within its Arapaima Project in Minas Gerais, Brazil. The results bring Boa Vista's rare earth zone into focus at surface and identify rare earth and gallium anomalies at the undrilled Encachoeirado target.

Surface Results Point to the Next Exploration Opportunities

  • 1.54% TREO in soil. ARA-SL-219, collected on strongly kaolinized Caladão Granite saprolite at Boa Vista, returned 15,434 ppm (1.54%) TREO with 35.3% MREO/TREO and 5,171 ppm NdPr. ARA-SL-080, a pink clayey soil, returned 3,047 ppm TREO with 29.3% MREO/TREO.

  • About half of the soils above 500 ppm TREO. Forty of the 81 Boa Vista soil samples exceeded 500 ppm TREO. The gallium results for these samples (59 above 50 g/t Ga₂O₃, up to 134.4 g/t) were reported on September 24, 2026.

  • Rare earths at surface. The five maiden holes at Boa Vista intersected the rare earth zone from 20 to 32 m below surface, beneath the gallium-rich horizon. The soils show the same zone at surface on the slopes, where the upper horizon has been stripped, as at the Cruzeta road cut (at least 2.00% TREO in a grab sample; 22 m averaging 2,392 ppm TREO in channel; October 8, 2026).

  • Encachoeirado, a third target. Six of 65 stream-sediment samples exceeded 500 ppm TREO, with a maximum of 1,621 ppm (ARA-SS-292a); a pegmatite-biotitite rock chip (ARA-CR-184) returned 2,428 ppm TREO with 637 ppm Li₂O and 137.1 g/t Ga₂O₃; and five of 13 soils exceeded 50 g/t Ga₂O₃. Not yet drilled.

  • Next steps. Close-spaced soil sampling and RC holes sited where the rare earth zone is exposed at Boa Vista; trenching and channel sampling at Encachoeirado. Subject to financing.

Comment from the CEO

"At Cruzeta, the road cut showed us the rare earth zone at surface. At Boa Vista, the soils are telling us the same thing. Where the gallium-rich upper horizon has been stripped by erosion or by a road cut, the rare earth zone is at surface, and the best of those soils, at 1.54% TREO, is of the same order as the grab sample we reported at Cruzeta. The model that led us to Boa Vista now explains what we see at surface at both drilled targets. Our next holes at Boa Vista will be sited where the zone is exposed, so that they test it from the first meter. A single sample does not make a deposit, but a soil dataset that behaves the way the model predicts is a good reason to drill," said Dr. Fernando Tallarico, P.Geo., FSEG, Chief Executive Officer and Chairman.

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Figure 1. The Cruzeta, Boa Vista and Encachoeirado targets, Arapaima Project: geology (Company compilation after the SGB-CPRM 1:100,000 sheets) draped on shaded relief, with the lateritic cover of the plateau surfaces, drainage, faults and the Spark tenements; the surface samples at the three targets by sample medium; and the 33 publicly reported RC drill holes. Filled symbols are the samples reported in this news release (the Boa Vista soils and the Encachoeirado samples); open symbols are the Cruzeta surface samples and the Boa Vista stream-sediment and rock-chip samples, whose yttrium values were reported on October 20, 2026. Inset: position of the map within the Arapaima tenements.

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Boa Vista: Magnet Rare Earth Oxides Account for 35.3% of the Peak Soil TREO Result

Boa Vista lies 7 to 8 km south of Cruzeta (Figure 1). Five maiden reverse circulation (RC) holes, reported on August 27, 2026, returned gallium from surface in every hole and a rare earth zone starting 20 to 32 m below surface, with composites of 1,188 to 1,565 ppm TREO and 17.3% to 23.4% MREO/TREO.

The surface results reported on September 24, 2026 covered the gallium signature of the soils, with 63 of the 86 soils then reported above 50 g/t Ga₂O₃ and a maximum of 134.4 g/t (ARA-SL-062). Five of those soils (ARA-SL-075 to -078 and ARA-SL-144) plot outside the Company's tenements and are not included in this news release.

The rare earth results for the other 81 soils are reported here. ARA-SL-219, collected on strongly kaolinized Caladão Granite saprolite, or weathered rock, about 2 km west-southwest of the maiden holes, returned 15,434 ppm (1.54%) TREO with 35.3% MREO/TREO and 5,171 ppm NdPr, and ARA-SL-080, a pink clayey soil, returned 3,047 ppm TREO with 29.3% MREO/TREO (Table 1; Figure 2).

Gallium in ARA-SL-219 was below the detection limit, as it was in the Cruzeta grab sample, a pattern consistent with both samples coming from below the gallium-rich horizon.

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Figure 2. Boa Vista target: the 81 soil samples classed by TREO, with the five maiden RC holes, on the geology and shaded relief of Figure 1. Inset: the holes and the depth at which each intersected the rare earth zone (August 27, 2026). The holes were collared on the lateritic cover of a plateau surface; ARA-SL-219 lies about 2 km to the west-southwest, on saprolite outside the mapped lateritic cover. Stream-sediment and rock-chip samples at Boa Vista are not shown; their results are not reported here.

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The soils were collected along access routes, where road cuts and slopes expose the weathering profile beneath the gallium-rich upper horizon. The Company interprets the rare earth-rich soils as samples of the rare earth zone where it reaches surface (Figure 3). In the five maiden holes the zone lies 20 to 32 m below surface and follows the topography; on the slopes and in road cuts, where the upper horizon has been removed, it is at surface.

The same relationship was reported at the Cruzeta road cut on October 8, 2026, where channel sampling of exposed saprolite averaged 2,392 ppm TREO over 22 m and a grab sample of lightly weathered granite returned at least 2.00% TREO (praseodymium exceeded the laboratory's upper limit; the over-limit analysis is pending).

ARA-SL-219 is a single sample. Its grade is of the same order as that grab sample and about ten times the drill composites, and the planned work will test whether it reflects local primary rare earth enrichment in the granite, as proposed at Cruzeta, or secondary enrichment in the saprolite.

Table 1. Boa Vista: the two highest soil TREO results. All 81 soil results are in Appendix Table A1.

SampleMaterialTREO (ppm)MREO/TREO (%)NdPr (ppm)Ga₂O₃ (g/t)
ARA-SL-219kaolinized saprolite, Caladão Granite15,43435.35,171<1.3
ARA-SL-080pink clayey soil3,04729.386648.4

 
MREO/TREO is the magnet rare earth share of TREO; NdPr is Nd₂O₃ + Pr₆O₁₁; "<" indicates a result below the detection limit (shown as oxide). Individual surface samples; not drill intervals.

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Figure 3. Boa Vista. A: section along the line of the five maiden RC holes (true distances between collars; vertical exaggeration 2x): gallium from surface in every hole and the rare earth zone 20 to 32 m below surface, sub-parallel to the topography; contacts interpreted between holes; collar elevations as corrected in October 2026 (see Qualified Persons & Data Verification). B: plan of the holes and the section line. C: schematic relationship of the soil samples to the weathering profile (not to scale).

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Encachoeirado Adds an Undrilled Gallium and Rare Earth Target

Encachoeirado is a new target in the south-west of the project area, approximately 16 km west-southwest of the Cruzeta drilling (Figure 1). It has not been drilled. Reconnaissance sampling comprised 65 stream-sediment, 29 rock-chip and 13 soil samples within the Company's tenements; all results are listed in Appendix Tables A2 to A4 (selected results in Table 2).

Six of the 65 stream-sediment samples exceeded 500 ppm TREO, with a maximum of 1,621 ppm TREO and 19.7% MREO/TREO in ARA-SS-292a, and three exceeded 50 g/t Ga₂O₃, with a maximum of 64.5 g/t (ARA-SS-313).

Four of the 29 samples of the rock-chip series exceeded 500 ppm TREO, led by a pegmatite-biotitite sample, ARA-CR-184, with 2,428 ppm TREO, 20.3% MREO/TREO, 637 ppm Li₂O, 239 ppm Nb₂O₅ and 137.1 g/t Ga₂O₃. The other three, ARA-CR-168 (1,212 ppm), ARA-CR-165 (657 ppm) and ARA-CR-186 (520 ppm), are soil and saprolite material collected within the same series; 17 of the 29 samples in the series are soils and are identified as such in Appendix Table A2.

None of the 13 soil samples exceeded 500 ppm TREO (maximum 481 ppm, ARA-SL-130), and five returned more than 50 g/t Ga₂O₃, with a maximum of 65.9 g/t (ARA-SL-121).

The gallium in ARA-CR-184 occurs in a biotite-rich rock and is interpreted as a lithological signature of the mica, not as the adsorbed gallium of the weathering profile at Cruzeta and Boa Vista; its lithium and niobium values are pathfinder-level anomalies for pegmatite.

Stream-sediment anomalies locate catchments, not sources. ARA-SS-292a, the highest stream-sediment result, is isolated: the samples upstream (ARA-SS-295a, 370 ppm) and downstream (ARA-SS-288a, 136 ppm) on the same drainage, and on the adjoining tributary (ARA-SS-291a, 229 ppm), are below 500 ppm TREO.

Follow-up will trace the anomalous drainages upstream (ARA-SS-289a, -292a, -316, -317, -347 and -350), map and sample the pegmatite-biotitite body around ARA-CR-184, and test the soils at closer spacing.

Table 2. Encachoeirado: selected results by sample medium. All results are in Appendix Tables A2 to A4.

SampleMediumTREO (ppm)MREO/TREO (%)NdPr (ppm)Ga₂O₃ (g/t)Li₂O (ppm)
ARA-CR-184rock chip, pegmatite-biotitite2,42820.3451137.1637
ARA-CR-168soil (rock-chip series)1,21219.722141.732
ARA-SS-292astream sediment1,62119.729314.830
ARA-SL-121soil12616.81765.926

 
Rock chips are selective samples and may not be representative. Stream sediments reflect transported material from the upstream catchment. Individual surface samples; not drill intervals.

Surface Sampling Guides the Next Tests at Boa Vista and Encachoeirado

The following work is planned, subject to field conditions, financing and required permits and access permissions (see Cautionary Statements on Exploration Results and the Cautionary Statement Regarding Forward-Looking Information below):

  • Close-spaced soil sampling at Boa Vista around ARA-SL-219 and ARA-SL-080 and along the slopes and road cuts where saprolite is exposed, to map the rare earth zone at surface.

  • RC holes at Boa Vista sited where the rare earth zone is exposed, to test it from surface, together with the step-out and infill holes around the five maiden holes announced on August 27, 2026.

  • At Encachoeirado, repeat and upstream stream-sediment and soil sampling in the catchments of ARA-SS-289a, -292a, -316, -317, -347 and -350, mapping, trenching and channel sampling of the pegmatite-biotitite body around ARA-CR-184, and mineralogical characterization of the host minerals.

  • Reporting of surface results from the remaining Arapaima targets as the database review is completed.

Technical Notes & Reporting Basis

TREO is the sum of La₂O₃, CeO₂, Pr₆O₁₁, Nd₂O₃, Sm₂O₃, Eu₂O₃, Gd₂O₃, Tb₄O₇, Dy₂O₃, Ho₂O₃, Er₂O₃, Tm₂O₃, Yb₂O₃, Lu₂O₃ and Y₂O₃. MREO (magnet rare earth oxides) is Nd₂O₃ + Pr₆O₁₁ + Dy₂O₃ + Tb₄O₇; NdPr is Nd₂O₃ + Pr₆O₁₁. MREO and NdPr are included within TREO and must not be added to it; MREO/TREO is calculated for each sample from the oxide sums. Ga₂O₃ = Ga × 1.3442; Li₂O = Li × 2.1525; Nb₂O₅ = Nb × 1.4305; Sc₂O₃ = Sc × 1.5338. One g/t equals one ppm. Oxide values are calculated analytical equivalents of the elemental assays, not recoverable products, and gallium oxide values are not elemental gallium grades.

Results below the detection limit are reported as "<" followed by the detection limit converted to oxide and are not substituted; where a component of a sum is below the detection limit, the sum is calculated with that component at the detection limit and reported with "<".

"Mineralization" and "anomalous" in this news release mean values above 500 ppm TREO, 50 g/t Ga₂O₃ or 100 ppm Li₂O in an individual sample; these thresholds are reporting conventions of the Company, not economic cut-offs.

The Appendix lists every sample collected within the Company's tenements in the programs reported here, including samples below the reporting thresholds: all 81 soil samples at Boa Vista and all 29 rock-chip, 13 soil and 65 stream-sediment samples at Encachoeirado, with coordinates, sample type and the field description of the sampled material, so that the results can be assessed as a whole. Six further samples, ARA-SL-075 to -078 and ARA-SL-144 at Boa Vista and ARA-SS-361 at Encachoeirado, plot outside the Company's tenements in the ANM SIGMINE layer (October 2026), 37 to 772 m from the nearest boundary, and are not reported. In the ANM registry, the Boa Vista soils lie on exploration permits and on exploration applications: 46 of the 81, including ARA-SL-080, lie on applications 830.189/2023 and 831.922/2024, for which exploration permits have not yet been granted.

Sampling, Analysis & Quality Control

Soil samples were collected by Company geologists along access routes at approximately 200 m spacing, with additional samples where the sampled material changed. Each soil sample of approximately 5 kg was taken at a depth of 50 cm or more, below the stone line where one was present, preferably from the B or C soil horizon. The field description records the color and texture of the material and, where observed, the parent material (for example saprolite). Rock-chip samples were collected from exposed fresh or weathered rock and are selective by nature; at Encachoeirado, 17 of the 29 samples of the rock-chip series are soils, and three are saprolite or regolith (Appendix Table A2). Stream-sediment samples were collected from active drainage channels, classified in the field as primary (36 samples), secondary (26) and tertiary (3) drainages, and were sieved in the field at 60 mesh (250 µm) or finer. At the laboratory every sample was prepared as received, without further size fractionation (see below). Sample locations were recorded with handheld GPS units in SIRGAS 2000 UTM Zone 24S; the horizontal accuracy of individual readings was not recorded and is typically within 3 to 10 m for such units.

Samples were prepared and analyzed by SGS Geosol Laboratórios S.A. (SGS Geosol Laboratórios Ltda. for the 2025 batches) in Vespasiano, Minas Gerais, Brazil, a commercial laboratory that is independent of the Company and is ISO 9001:2015 and ISO 14001:2015 certified. Preparation (PRP70J_A2) comprised drying at 105 °C, crushing to 75% passing 3 mm, Jones riffle splitting and pulverizing of a 250 g split to 95% passing 150 mesh (106 µm). Analysis was by sodium peroxide fusion with ICP-OES and ICP-MS finish (ICM90A) for 56 elements. Laboratory quality control in the 10 batches that contain the samples reported here comprised 16 preparation blanks, 15 preparation duplicates, 15 pulp replicates and 24 analyses of the certified reference materials OREAS 460, OREAS 461, OREAS 753, AMIS0683 and AMIS0684. The preparation blanks returned at most 4.8 ppm TREO and gallium below the detection limit; the duplicate and replicate pairs agreed within 9.4% for TREO (median 3.0%); and OREAS 460, the reference material inserted in 9 of the 10 batches, returned TREO with a coefficient of variation of about 3.5% between batches. Compared with their certified values, the reference-material results for the rare earth elements were within three standard deviations, except samarium in three batches (about 9% low) and erbium in one (11% high); on average the rare earth results were 2 to 6% below the certified values, and OREAS 460 returned 95% of its certified TREO, so the reported rare earth values are, if anything, slightly understated. Gallium and lithium in AMIS0683, AMIS0684 and OREAS 753 were within three standard deviations, except gallium in OREAS 753 in one 2025 batch, which was 22% low. None of the reference materials used carries a certified fusion value for scandium. No Company-inserted blanks, duplicates or reference materials were included in these surface batches; the Company's controls (ITAK QG-01 blank; ITAK-713, ITAK-715, GRE-07 and GRE-13 reference materials) were used in the RC drilling program.

Qualified Persons & Data Verification

Jonathan Victor Hill, BSc (Hons), FAusIMM, VP Exploration, Country Manager and Director, and Dr. Fernando Tallarico, P.Geo., FSEG, Chief Executive Officer and Chairman, are Qualified Persons as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. They have prepared or supervised the preparation of the scientific and technical information in this news release, including the interpretations, and have reviewed and approved it. Neither is independent of the Company.

The Qualified Persons have verified the data disclosed, including the sampling, analytical and test data underlying the information and opinions in this news release, by comparing every value in the text, tables and Appendix against the SGS Geosol certificates of analysis (188 samples in 10 certificates; all element values and derived oxide totals match); reviewing the laboratory quality-control results for the batches reported; checking the sample identifiers, coordinates and field descriptions against the field records; and reviewing the chain of custody from the field to the laboratory. As part of this review, the collar elevations (RL) of the RC holes were re-determined by interpolation of 2 m topographic contours and checked against the SRTM-based digital elevation model (SRTM 30 m and its 12.5 m ALOS PALSAR resampling). The corrected elevations agree with the model within 15 m for 32 of the 33 holes reported to date (median difference 6 m; maximum 19 m, ARA-RC-025). The previously published elevations were handheld GPS readings; they differed from the model by more than 15 m for 24 of the 33 holes, by up to 142 m (ARA-RC-033). At Boa Vista the corrected RLs are 1,018 m (ARA-RC-006, previously 1,015 m), 1,015 m (ARA-RC-007, previously 1,018 m), 1,014 m (ARA-RC-008, unchanged), 1,006 m (ARA-RC-030, previously 903 m) and 994 m (ARA-RC-031, previously 980 m); at Cruzeta, for example, 944 m for ARA-RC-033 (previously 796 m) and 915 m for ARA-RC-034 (previously 826 m). All holes are vertical and the intervals are measured down-hole, so the reported intervals and grades are unaffected. The corrected elevations of the 28 Cruzeta holes are included in the updated public assay spreadsheet for Cruzeta; those of the Boa Vista holes are stated above. The verification is subject to the following limitations: the samples were collected by Company personnel; no independent sampling, resampling or check analysis at a second laboratory has been undertaken; sample coordinates are handheld GPS readings; collar elevations have not been surveyed by differential GPS; and the Qualified Persons have not independently audited the laboratory's internal procedures beyond its certification and quality-control record.

Cautionary Statements on Exploration Results

Early-stage results. The results in this news release come from reconnaissance surface sampling: 81 soil samples at Boa Vista and 29 rock-chip, 13 soil and 65 stream-sediment samples at Encachoeirado. They are individual samples, not drill intersections, channel averages or composite grades. They are preliminary, and they are not conclusive evidence of the presence or absence of an economic deposit.

Limitations of surface samples. Soils were collected along access routes rather than on a regular grid, so their distribution is biased toward roads and tracks, and each result represents the material at one point and depth only. Rock chips are selective and may not represent the average grade of the outcrop or rock unit sampled. Stream sediments integrate material transported from the upstream catchment and do not locate or grade a source. No sample in this news release establishes the continuity, thickness, extent or grade of mineralization at depth or between sample points, and continuity between the surface samples and the drill holes at Boa Vista has not been demonstrated.

Interpretations. The statements that the rare earth zone intersected in the Boa Vista drill holes reaches surface, that the soils sample that zone, and that the exploration model developed at Cruzeta applies at Boa Vista and Encachoeirado, are interpretations of the Qualified Persons based on the field descriptions, the assay results, the drill results and the topography. They have not been tested by drilling or trenching at the sample sites and may change as work proceeds. The comparison of ARA-SL-219 with the grab sample at the Cruzeta road cut is a comparison of two individual samples 7 to 8 km apart; it does not imply that the targets are connected, that either is mineralized throughout, or that either value is representative. A single sample does not establish a grade.

Terminology. "Discovery", "target", "zone", "horizon", "model" and "mineralization" are used in their exploration sense and do not mean that a mineral resource or mineral reserve has been identified. No mineral resource or mineral reserve has been estimated for any part of the Arapaima Project. The Company is not disclosing an exploration target within the meaning of NI 43-101, and no potential quantity or grade should be inferred from the sample counts, thresholds or maps in this news release. No preliminary economic assessment or other economic analysis has been completed. There is no certainty that further work will define a mineral resource or that any mineral resource, if defined, can be extracted economically.

Mineralogy and recovery. The rare earth mineralization at Arapaima is interpreted as ionic adsorption clay (IAC) style, but this has not been confirmed. The analytical method is a total digestion and does not measure the proportion of the rare earths, or of the gallium, that is ionically adsorbed or otherwise recoverable. No metallurgical test result has been reported for any element from Arapaima and no recovery has been demonstrated. The gallium value in the pegmatite-biotitite sample at Encachoeirado is interpreted as a mineralogical signature of the mica, not as evidence of adsorbed gallium.

Previously disclosed information. The surface results in this news release have not been disclosed before, except the gallium results of the Boa Vista soils (September 24, 2026), the yttrium oxide values of the surface samples, which are included in the TREO values reported here (October 20, 2026), and the drill and road-cut results referred to for context (August 27 and October 8, 2026). Previously reported assay results are unchanged. The collar elevations published in the Company's earlier drilling news releases and in its public assay spreadsheet have been corrected as described under Qualified Persons & Data Verification; the reported intervals and grades are unchanged.

Cautionary Note to United States Investors

This news release uses terms defined in NI 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves. The Company's securities are quoted on the OTC Pink market in the United States. United States investors are cautioned that these terms, and the disclosure requirements of NI 43-101, differ from those of the United States Securities and Exchange Commission under subpart 1300 of Regulation S-K, and that the information in this news release has not been prepared in accordance with United States standards. No mineral resource or mineral reserve has been estimated under either standard.

About Spark Energy Minerals Inc.

Spark Energy Minerals Inc. is a Canadian critical minerals exploration company whose principal asset, the Arapaima Project, comprises approximately 91,900 hectares across several municipalities in the Lithium Valley region of Minas Gerais, Brazil. The Company has made gallium and rare earth element discoveries at Cruzeta and Boa Vista, where mineralization is hosted in ionic adsorption clays developed over the Caladão Granite. Lithium-bearing pegmatites are a secondary target on the property. The Company also holds the Seridó Project, comprising twelve exploration permits totaling 21,492.74 hectares in the Seridó tungsten district of Rio Grande do Norte, where tungsten-focused reconnaissance exploration is underway.

For further information

Spark Energy Minerals Inc. | Dr. Fernando Tallarico, P.Geo., FSEG, Chief Executive Officer and Chairman
Email: connect@sparkminerals.co | Tel: +1-877-272-9226 | www.sparkminerals.co

On behalf of the Board of Directors of Spark Energy Minerals Inc.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities legislation, including National Instrument 51-102. Forward-looking information in this news release includes, without limitation: the interpretation that the rare earth zone intersected in the Boa Vista drill holes reaches surface on the slopes and in road cuts and that the soil sampling maps that zone; the interpretation that the exploration model developed at Cruzeta applies at Boa Vista and Encachoeirado; the characterization of Encachoeirado as a target and of the gallium in sample ARA-CR-184 as a mineralogical signature; the planned close-spaced soil sampling, trenching, channel sampling, mineralogical characterization and drilling, including the intention to site drill holes where the rare earth zone is interpreted to be exposed; the planned reporting of results from other targets; and any statement about what further work may show, find or confirm. Words such as "interpreted", "planned", "will", "intends", "expects", "potential" and "may" identify forward-looking information.

Forward-looking information is based on the following material factors and assumptions: that the samples, field descriptions and SGS Geosol analyses are accurate and representative of the material sampled; that the geological interpretations of the Qualified Persons, including the vertical zonation of gallium above rare earths and its relationship to topography, are correct; that the Company will obtain the financing required for the planned work on acceptable terms and in time for the planned schedule; that the Company's exploration permits remain in good standing and that its pending exploration applications are granted and that landowner, environmental and other access permissions will be obtained in the ordinary course; that drilling and laboratory contractors will be available; and that weather and field conditions will allow the work to proceed.

Actual results may differ materially from those expressed or implied by the forward-looking information because of risks that include: the inherent uncertainty of mineral exploration, including the risk that additional sampling, trenching or drilling does not confirm the interpretations, the continuity or the values reported here; the risk that individual sample results, including the highest values, are not reproduced by closer-spaced work; the risk that the rare earth and gallium mineralization is not of ionic adsorption clay style, is not continuous, or is not amenable to economic recovery; the risk that no mineral resource is ever defined; metallurgical risk; the availability and cost of financing and the dilution that equity financing causes; commodity-price risk for rare earths and gallium, including the concentration of supply in a small number of countries and the effect of export controls on those markets; errors in the Company's exploration database, including the collar elevations referred to under Qualified Persons & Data Verification; title, permitting, environmental, community, regulatory and political risks in Brazil; and the other risks described in the Company's filings on SEDAR+ at www.sedarplus.ca. Forward-looking information is provided as of the date of this news release for the purpose of describing the Company's current expectations and plans, and readers are cautioned not to place undue reliance on it. The Company does not undertake to update forward-looking information except as required by law.

Appendix: Complete Surface Sample Results

All samples collected in the programs reported here, including those below the reporting thresholds. Coordinates in SIRGAS 2000 UTM Zone 24S (handheld GPS). Material is the field description recorded at collection. Values below the detection limit are shown as "<" followed by the detection limit converted to oxide. Scandium is reported as Sc₂O₃ = Sc × 1.5338.

Table A1. Boa Vista target: all 81 soil samples, sorted by TREO (highest first).

SampleEastingNorthingMaterial (field description)TREO (ppm)MREO/TREO (%)NdPr (ppm)Ga₂O₃ (g/t)Sc₂O₃ (g/t)Nb₂O₅ (ppm)
ARA-SL-2192358118106422White to pink, extremely kaolinized saprolitized Caladão granite15,43435.35,171<1.313.880
ARA-SL-0802415338113302Pink, Clayey3,04729.386648.47.760
ARA-SL-1092404908111254Pink, 0.48 µSv/h, pinkish soil immediately above saprolite of porphyritic granitic rock, angular granules of quartz are abundant2,4660.91948.413.8129
ARA-SL-0832420528112680Brown, Clayey2,38731.974344.4<7.749
ARA-SL-0842420438112390Brown, Clayey2,12728.959341.7<7.756
ARA-SL-0792439908112739Orange, Sandy-Clayey1,97119.436563.218.493
ARA-SL-2202366698106763Orange to pink soil near the charnockite1,8701.52353.819.9196
ARA-SL-1572439788112674Intense orange clayey soil1,85311.520380.723.0109
ARA-SL-2182350718106275Caladão saprolite1,61329.546025.5<7.743
ARA-SL-1162411968110091Red, 0.44 µSv/h, saprolite of granitic rock1,5381.82445.79.296
ARA-SL-1452427858104193Clay-rich soil ranging from pink to white, with sparse medium-grained quartz grains1,39823.232052.4<7.734
ARA-SL-0822419218112954Brown, Clayey1,37028.537943.0<7.744
ARA-SL-1112406088110884Orange, Sandy-Clayey, 0.50 µSv/h, angular granules of quartz are abundant1,3362.53047.013.8124
ARA-SL-1622435338115121Orange clayey soil1,23015.317961.818.490
ARA-SL-0402386438109820Orange, 0.46 µSv/h1,2282.12364.526.1169
ARA-SL-1562431358114955Light orange to pinkish-red clayey soil1,19520.523467.213.890
ARA-SL-1102405348111077Orange, Sandy-Clayey, 0.48 µSv/h1,1677.28048.415.3103
ARA-SL-0712439108114742Orange, Sandy1,16119.521464.518.484
ARA-SL-0702439158114975Orange, Sandy1,08017.417761.816.986
ARA-SL-1142410188110448Brown, 0.82 µSv/h, quartz-rich saprolite1,05422.322637.6<7.787
ARA-SL-0812417438113149Beige, Sandy-Clayey1,02912.011939.0<7.756
ARA-SL-0412343938107167Red, Sandy-Clayey, 0.27 µSv/h1,00122.120847.021.569
ARA-SL-0732440928114295Orange, Sandy9849.18468.619.983
ARA-SL-1512414618104637Beige to light-brown sandy soil88320.717448.4<7.751
ARA-SL-1172412748109905Red, Sandy-Clayey, 0.66 µSv/h, angular granules of quartz8675.24255.19.296
ARA-SL-0742441308114050Orange, Sandy85819.916363.216.9103
ARA-SL-0632387398105844Red, Sandy-Clayey, 0.46 µSv/h, transition from reddish85521.017261.810.7123
ARA-SL-1472404048106273Orange-brown clayey soil with fine- to medium-grained quartz81318.014057.810.7123
ARA-SL-0722439588114513Orange, Sandy7729.46863.216.986
ARA-SL-1582444478115131Orange-ochre clayey soil76817.713061.815.3103
ARA-SL-1502414098104676White and orange clayey soil75922.216159.17.746
ARA-SL-1462414498103375Clay-rich soil ranging from orange to red, with medium-grained quartz grains73922.816151.1<7.743
ARA-SL-1202415698109392Orange, Sandy-Clayey, 0.44 µSv/h6802.71656.512.369
ARA-SL-1182413298109708Orange, Sandy-Clayey, 0.65 µSv/h60716.79756.59.289
ARA-SL-1132408578110573Red, Sandy-Clayey, 0.46 µSv/h, angular granules of quartz are abundant6012.81343.010.7147
ARA-SL-1122407188110725Orange, Sandy-Clayey, 0.44 µSv/h5555.72849.710.7112
ARA-SL-1612421658113281Orange sandy clay soil55010.15352.412.372
ARA-SL-0612386508106030Pink, 0.46 µSv/h, granitic saprolite5261.4549.716.9119
ARA-SL-1522415078104592Highly clayey pinkish-red soil52411.95767.212.3117
ARA-SL-1602423758113095Orange clayey soil with fine- to medium-grained sand5067.03360.513.874
ARA-SL-1552452288110954Orange clay, variating light to dark49620.99763.2<7.757
ARA-SL-0372381198109713Orange, Sandy-Clayey, 0.47 µSv/h4942.41068.621.5166
ARA-SL-1152411028110280Orange, Sandy-Clayey, 0.73 µSv/h48620.09226.9<7.733
ARA-SL-1492407198105206Clayey red soil in the upper surface layer (~5 cm), underlain by kaolinitic soil with large quartz veins4695.42372.69.284
ARA-SL-0552378088106991Pink, Sandy-Clayey, 0.48 µSv/h, granules of quartz and clay pseudomorphs after feldspar4642.3957.818.4144
ARA-SL-0592382198106360Brown, Sandy-Clayey, 0.57 µSv/h4371.9576.612.3199
ARA-SL-1042389148106154Brown, Sandy-Clayey, 0.73 µSv/h4263.61173.913.8179
ARA-SL-1482413598106255Highly clayey orange soil39910.33873.912.397
ARA-SL-0392384608109825Orange, Sandy-Clayey, 0.45 µSv/h3936.02169.921.5172
ARA-SL-1192414718109557Beige, 0.42 µSv/h, saprolite of granitic rock37913.54837.6<7.772
ARA-SL-0582380948106515Red, Sandy-Clayey, 0.61 µSv/h3731.8587.415.3212
ARA-SL-1062392678106237Brown, Sandy-Clayey, 0.67 µSv/h3495.91751.19.2116
ARA-SL-1072394688106216Brown, Sandy-Clayey, 0.66 µSv/h34913.74478.09.2130
ARA-SL-0622387598106025Red, Sandy-Clayey, 0.70 µSv/h, granitic saprolite33814.543134.421.5255
ARA-SL-0682375458108058Orange, Sandy-Clayey, 0.54 µSv/h26714.93580.718.4153
ARA-SL-1592454368111487Brown clayey soil26017.64343.0<7.749
ARA-SL-1052390708106276Brown, Sandy-Clayey, 0.76 µSv/h2604.5769.910.7170
ARA-SL-0362379248109718Orange, Sandy-Clayey, 0.40 µSv/h2603.7767.216.9140
ARA-SL-0602383988106175Pink, 0.51 µSv/h, granitic saprolite2542.9467.216.9210
ARA-SL-0382383168109698Orange, Sandy-Clayey, 0.41 µSv/h2503.3668.621.5159
ARA-SL-1702454408111987Brownish-orange sandy-silty soil23818.44059.19.260
ARA-SL-0352377318109760Orange, Sandy-Clayey, 0.39 µSv/h2124.5767.212.3130
ARA-SL-1662447928111760Dark brown clayey soil21116.63256.5<7.762
ARA-SL-1432374298104273White sandy-clayey soil, kaolin-rich, developed over granitoid regolith19819.73251.1<7.727
ARA-SL-1632451918113891Orange clayey soil19713.12449.712.366
ARA-SL-1652445298111639Dark brown clayey-silty soil19018.03241.77.744
ARA-SL-1642443308111412Brown silty soil on the topographic high18716.62952.47.754
ARA-SL-0662372778108351Brown, Sandy-Clayey, 0.51 µSv/h17717.82775.316.9140
ARA-SL-0672374008108194Brown, Sandy-Clayey, 0.53 µSv/h16018.42584.718.4162
ARA-SL-0652372158108540Orange, Sandy-Clayey, 0.52 µSv/h16018.32575.316.9139
ARA-SL-1082396588106278Brown, Sandy-Clayey, 0.89 µSv/h15710.81476.610.7170
ARA-SL-0642371628108729Brown, Sandy-Clayey, 0.49 µSv/h14019.22379.316.9133
ARA-SL-0692376748107904Orange, Sandy-Clayey, 0.51 µSv/h13617.62082.015.3139
ARA-SL-0562378528106802Brown, Sandy-Clayey, 0.50 µSv/h, granules of quartz1334.5567.215.3142
ARA-SL-1012377958107746Red, Sandy-Clayey, 0.50 µSv/h13116.31786.015.3139
ARA-SL-0342375538109662Orange, Sandy-Clayey, 0.44 µSv/h12912.31383.316.9147
ARA-SL-1022378288107550Red, Sandy-Clayey, 0.58 µSv/h12217.31794.113.8139
ARA-SL-1692453108111176Orange clayey soil11916.31759.19.266
ARA-SL-1682452428111343Brown clayey soil11516.91853.8<7.762
ARA-SL-1032378358107353Red, Sandy-Clayey, 0.58 µSv/h10411.3876.612.3134
ARA-SL-0572379218106616Brown, Sandy-Clayey, 0.58 µSv/h, granules of quartz8211.7760.512.3172

 

Table A2. Encachoeirado target: all 29 samples of the rock-chip series, sorted by TREO (highest first).

SampleEastingNorthingMaterial classField descriptionTREO (ppm)MREO/TREO (%)NdPr (ppm)Ga₂O₃ (g/t)Sc₂O₃ (g/t)Nb₂O₅ (ppm)
ARA-CR-1842160068116308RockModerately weathered pegmatite veins and biotitite (>90% biotite) bodies/veins2,42820.3451137.126.1239
ARA-CR-1682198758103923SoilSoil near drainage channels, representative of the area1,21219.722141.79.257
ARA-CR-1652226108103266SoilIntensely reddish soil with a prominent preserved quartz vein65718.311344.4<7.733
ARA-CR-1862142828112894Saprolite/regolithClayey saprolite with biotite52022.110449.712.351
ARA-CR-1642226778103298SoilWhitish, strongly kaolinized soil/regolith developed above a felsic granitoid containing abundant garnet37421.77430.9<7.714
ARA-CR-1732181478109549SoilOrange soil within a very thick profile, with portions containing coarse biotite grains, indicating preserved pegmatite34220.46429.6<7.733
ARA-CR-1582220228111919RockPegmatite with centimeter-sized feldspar grains32319.85926.9<7.723
ARA-CR-1812179238111116SoilSoil varying from more orange and sandy portions to more pink and clay-rich portions28819.15041.77.739
ARA-CR-1762194068109207SoilOrange soil with coarse garnet grains27822.25540.39.231
ARA-CR-1692202058105269SoilSoil near drainage channels, representative of the area25121.15057.810.783
ARA-CR-1722182498110101SoilOrange sandy-clayey soil21818.93629.6<7.721
ARA-CR-1552203998109106RockFine-grained leucogranite21120.53925.5<7.717
ARA-CR-1792177818112003SoilHighly kaolinized white soil within a very thick soil profile, with a stone line at the top20218.43444.4<7.746
ARA-CR-1702204038104805SoilSoil near drainage channels, representative of the area18319.53255.19.246
ARA-CR-00332193058111691RockPegmatite17317.22741.7<7.716
ARA-CR-1872150468113641SoilGranite altered into an orange soil, with abundant kaolin and clayey material, containing biotite15721.03057.87.753
ARA-CR-1632181298107236Saprolite/regolithSaprolitized rock collected from an adit/gallery15222.52724.2<7.721
ARA-CR-1752163358109287SoilLight brown, highly clay-rich soil with a kaolinitic appearance, containing preserved pegmatite veins15017.72339.07.733
ARA-CR-00322192958111793RockPegmatite on gallery14421.52549.7<7.723
ARA-CR-1822160938118908SoilPink and white clay-rich soil with kaolin-bearing veins and pure mica13521.02245.710.730
ARA-CR-1672192988102072SoilSoil near drainage channels, representative of the area11215.51551.1<7.7<14.3
ARA-CR-1592195478111390RockPegmatitic granitoid with coarse garnet grains11117.01622.9<7.7<14.3
ARA-CR-1272223078110589Saprolite/regolithWeathered pegmatite, k-felds in leucogranite saprolite. Small portions of greenish clayey material11120.31945.7<7.741
ARA-CR-1802180458110825SoilTwo soil types: the orange soil may be transported, while the pink, highly clay-rich soil may be in situ10715.41541.7<7.729
ARA-CR-1662196578102884SoilSoil near drainage channels, representative of the area9718.01649.77.730
ARA-CR-1782165478111582SoilBrown soil from the headwater area of a drainage8415.71160.5<7.740
ARA-CR-1572224078111806RockPegmatite vein with qz-fk5018.1645.7<7.750
ARA-CR-1742172608109497RockPegmatitic rock composed of >90% feldspar grains2321.4422.9<7.7<14.3
ARA-CR-1542204408104788RockFine-grained leucogranite2217.2332.3<7.7<14.3

 

Table A3. Encachoeirado target: all 13 soil samples, sorted by Ga₂O₃ (highest first).

SampleEastingNorthingMaterial (field description)TREO (ppm)MREO/TREO (%)NdPr (ppm)Ga₂O₃ (g/t)Sc₂O₃ (g/t)Nb₂O₅ (ppm)
ARA-SL-1212171078110889Dark brown clay-rich soil with few grains12616.81765.97.750
ARA-SL-1232132218113263Orange, clay-rich soil with very fine crystals12117.81764.512.360
ARA-SL-1222131428112536Brown, moderately clay-rich soil with fine quartz grains11017.71560.510.751
ARA-SL-1252147878114449Orange-brown, sandy to moderately clayey soil with minor kaolin16917.92655.1<7.744
ARA-SL-1312153778119508Pinkish clay-rich soil with kaolinized portions and pegmatite remnants containing coarse mica grains (biotite and muscovite), quartz, and feldspar23023.64753.8<7.741
ARA-SL-1242141828112253Dark brown, clay-rich soil with fine-grained crystals20218.93449.7<7.734
ARA-SL-1272146188115438Gray to brownish-gray, clay-rich soil with fine-grained crystals26018.34248.4<7.736
ARA-SL-1782233228119089Orange-brown clayey soil containing fine quartz grains17215.72348.4<7.730
ARA-SL-1262147538114891Orange sandy soil with fine clay and kaolin27120.45145.7<7.731
ARA-SL-1282148798116177Orange-brown saprolite with kaolin and fine quartz35521.97045.77.730
ARA-SL-1302160048116287Soils exposed at the base of a large erosion feature, comprising a sandy portion interpreted as granitoid regolith and a highly clay-rich orange portion48122.910044.4<7.736
ARA-SL-1292152298116603Clayey saprolite associated with pegmatite, containing fine quartz and biotite16417.92643.0<7.723
ARA-SL-1362168358118252Dark brown clay-rich soil with quartz12816.91741.7<7.729

 

Table A4. Encachoeirado target: all 65 stream-sediment samples, sorted by TREO (highest first).

SampleEastingNorthingDrainage (field)MaterialTREO (ppm)MREO/TREO (%)NdPr (ppm)Ga₂O₃ (g/t)Sc₂O₃ (g/t)Nb₂O₅ (ppm)
ARA-SS-292a2204238109111SecondaryClay1,62119.729314.8<7.7322
ARA-SS-3162218588103859SecondaryClay82318.614433.6<7.729
ARA-SS-3472131408114870SecondaryClay and fine/medium sand78919.812024.2<7.716
ARA-SS-289a2195468111390PrimaryClay74519.913422.9<7.766
ARA-SS-3502142378115883PrimarySand68918.09620.2<7.717
ARA-SS-3172223058103066PrimaryClay52218.89247.0<7.736
ARA-SS-295a2204038106964SecondaryClay37020.16924.2<7.744
ARA-SS-3082161628113263SecondaryClay36520.06626.9<7.719
ARA-SS-296a2200368105744SecondaryClay35720.16712.1<7.744
ARA-SS-3122195288102932SecondaryClay30920.85717.5<7.769
ARA-SS-3302175878118222PrimaryClay30519.55221.5<7.719
ARA-SS-3342160568116612PrimaryClay29720.05141.7<7.736
ARA-SS-297a2195398105650PrimaryClay29620.15533.6<7.7170
ARA-SS-3012203458108326PrimaryClay26919.74722.9<7.741
ARA-SS-290a2206498110116SecondaryClay and fine sand26021.05118.8<7.736
ARA-SS-293a2185458109096SecondaryClay and fine sand25420.44613.4<7.723
ARA-SS-3542154418115096PrimaryClay25319.94543.09.236
ARA-SS-3152204098104849SecondaryClay25120.9499.4<7.727
ARA-SS-3592228608118865PrimarySilt24819.14232.3<7.719
ARA-SS-3092191988108057PrimaryClay23618.63941.7<7.726
ARA-SS-3132193158101917TertiaryClay23417.13764.5<7.723
ARA-SS-291a2207678109145TertiaryClay22921.44514.8<7.723
ARA-SS-3462135398114614PrimarySandy-silty22819.23630.9<7.719
ARA-SS-286a2196188102698PrimaryClay and medium sand22321.5448.1<7.741
ARA-SS-3112200338104026SecondaryClay21919.63941.7<7.736
ARA-SS-3492140008115679PrimaryFine sand with silt21619.33640.3<7.727
ARA-SS-2992182948104606PrimaryClay and fine sand21120.33951.1<7.777
ARA-SS-284a2194198102288TertiaryClay21120.23912.1<7.723
ARA-SS-3482135358115224PrimaryClay20419.23222.9<7.716
ARA-SS-3372151348118800PrimaryClay and fine sand20218.92924.2<7.714
ARA-SS-3142201648105271SecondaryClay20119.53724.2<7.724
ARA-SS-3102199558108268PrimaryClay20020.63718.8<7.730
ARA-SS-3362156588118948PrimaryGrey clay and fine sand20020.13429.6<7.723
ARA-SS-285a2196138102179PrimaryClay and fine sand19819.93617.5<7.724
ARA-SS-3432149738112026PrimaryClay and very fine sand19320.03516.1<7.7<14.3
ARA-SS-3182174298109575SecondaryClay and sand19218.33153.8<7.740
ARA-SS-3412137708118037SecondarySand19119.83216.1<7.7<14.3
ARA-SS-3212167638109511SecondaryClay19018.12826.9<7.721
ARA-SS-3002217808109905PrimaryClay and fine sand18919.43434.9<7.723
ARA-SS-3442133208113817PrimaryClay and fine sand18819.03028.27.727
ARA-SS-3052181328107241SecondaryClay18620.63241.7<7.729
ARA-SS-3062174118107455PrimaryClay18620.0325.4<7.7<14.3
ARA-SS-3532149948112945PrimarySand and fine clay18420.43226.9<7.716
ARA-SS-3522153968111935PrimarySand and Clay18319.83118.8<7.7<14.3
ARA-SS-3272173718111500PrimaryClay18119.63220.2<7.720
ARA-SS-3072172528106169SecondaryClay17419.22936.3<7.747
ARA-SS-298a2188468105109PrimaryClay17120.33224.2<7.7124
ARA-SS-3602231978120357SecondaryClay and medium sand16318.52734.9<7.719
ARA-SS-3322177248119444SecondaryMedium sand14521.2289.4<7.7<14.3
ARA-SS-3032184028106582PrimaryClay14419.72537.6<7.773
ARA-SS-3022190548106266SecondaryClay and fine/medium sand14020.22624.2<7.753
ARA-SS-288a2207908111909SecondaryClay and fine sand13619.92513.4<7.7<14.3
ARA-SS-3512161378109250SecondaryClay12717.72041.7<7.736
ARA-SS-3262177018111869PrimaryClay12120.32232.3<7.727
ARA-SS-3192173878108799PrimaryClay and sand12120.12149.7<7.730
ARA-SS-3282171038110049PrimaryClay11819.42118.8<7.716
ARA-SS-3452135768114227PrimaryClay11519.81921.5<7.716
ARA-SS-3352164878118210PrimarySandy-silty.11417.71622.9<7.7<14.3
ARA-SS-3332161118119580SecondaryClay10919.71918.8<7.7<14.3
ARA-SS-3042181278106663SecondaryClay10318.81734.9<7.726
ARA-SS-3312171538119138PrimaryClay and fine sand10217.91529.6<7.723
ARA-SS-3242178588111527SecondaryClay9519.71729.6<7.724
ARA-SS-3402141998118227PrimaryMedium and fine sand8520.71616.1<7.7<14.3
ARA-SS-3252178398111744SecondaryClay7119.81316.1<7.7<14.3
ARA-SS-3292170188110069PrimaryClay5519.3928.2<7.720

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320519

info

Source: Spark Energy Minerals Inc.

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