Spartan Metals Corp. · TSXV:W
Spartan Metals — Investor Presentation (March 2026)
24 slides from Spartan Metals's investor presentation, March 2026
Slide 1: Unlocking America's Critical Mineral Resources
UNLOCKING AMERICA’S CRITICAL MINERAL RESOURCES Corporate Presentation March 2026 TSX-V: W OTCQB: SPRMF FSE: J03
Slide 2: Disclaimer – Forward Looking Statements
DISCLAIMER – FORWARD LOOKING STATEMENTS The information contained in this document (the “Presentation”) has been prepared by Spartan Metals Corp ("Spartan" or the "Company") and contains confidential information pertaining to the business, operations and assets of the Company. All oral and written m
Slide 3: Why Spartan Metals?
WHY SPARTAN METALS? NEVADA BASED TUNGSTEN, SILVER, and CRITICAL METALS EXPLORER HIGH-GRADE US TUNGSTEN ASSET SPARTAN EXPLORATION EAGLE PROJECT: One of the highest- Experienced team will develop early- grade past producing Tungsten mines in stage multi-commodity critical the US ~1.0% W03) with valuab
Slide 4: Leadership Team
LEADERSHIP TEAM Significant Critical Metals and US Government Engagement Experience BRETT MARSH M.Sc., MBA, CPG PRESIDENT AND CEO • 25+ years diverse mining and exploration experience in critical minerals, base and precious metals • Led evaluation and geologic redevelopment of Aurizona Au project in
Slide 5: Capital Structure
5 CAPITAL STRUCTURE As of February 25, 2026 Tightly Held with Strong Insider and Strategic Shareholder Alignment 29.9% Board and Management o Brett Marsh 8.5% 41.0M Significant Non-Diluted I/O Shareholders 14.2% Ridgeline Minerals o Burton Egger 1.85M 6.7M 0.7M o Ridgeline Minerals Options Warrants
Slide 6: Spartan Significant Upside Potential
SPARTAN SIGNIFICANT UPSIDE POTENTIAL Spartan Metals Corp (TSX-V: W) launched August 5, 2025, following acquisition of Eagle Tungsten-Silver-Rubidium-CRD Project W shareholders up ~242% from Eagle Project acquisition on June 3, 2025 to February 25, 2026 close HISTORIC US TUNGSTEN RESOURCES MARKET CAP
Slide 7: Tungsten Market and Applications
TUNGSTEN MARKET AND APPLICATIONS High-value commodity 1 lb WO3 ≈ 14.4 lbs Cu US is heavily import reliant for key defense critical metals - found in high concentration at Spartan’s Eagle Project • China accounted for 82.3% of 2024 world production and TUNGSTEN (W) 52.5% of world reserves • Not mined
Slide 8: Leveraging Connections to Deliver Project Value
LEVERAGING CONNECTIONS TO 8 DELIVER PROJECT VALUE SPARTAN AND ITS ADVISORY TEAM ARE EXPERIENCED AND WELL CONNECTED WITH NEVADA LEGISLATORS, DEPARTMENT OF WAR, AND DEPARTMENT OF ENERGY PERSONNEL RECENT EXAMPLE AWARDS (USD) Department of War utilizes mandate from Defense Production Act (DPA) Title III
Slide 9: Located in Nevada: A Tier-1 Mining Jurisdiction
LOCATED IN NEVADA: A TIER-1 TIER-1 MINING JURISDICTION JURISDICTION HISTORIC HIGH-GRADE PRODUCTION Eagle Project hosts past producing mines1 Tungstonia (~0.8% WO3, 500-1000 ppm Rb), Aguila Rees (~1%WO3, 1% Cu), Yellow Jacket (~1.12% WO3), and Antelope (~4% Cu, 29 opt Ag) STRATEGIC DEFENSE METALS2 Hi
Slide 10: Eagle Project
D I S TRI C T- S C AL E EAGLE PROJECT H I GH-GRAD E 1 • 36.5 km2 land package in eastern Nevada includes past producing Tungstonia, Rees, and Yellow Jacket tungsten mines and Antelope copper-silver mine Tungstonia Mine: historic grade = • Multiple deposit types including Porphyry, Skarn, and Carbona
Slide 11: Tungstonia Claim Block: Tungsten Cornerstone
TUNGSTONIA CLAIM BLOCK TUNGSTEN CORNERSTONE Tungstonia Mine Past Producing Tungsten Mines Historical Exploration Target1 3-4 MT @ 0.6-0.9% WO3 Tungstonia - Historic tungsten exploration target1 of 3-4MT 1.51% WO3 @ 0.6-0.9% WO3 hosted in quartz veins up to 3m thick at 50.5 g/t Ag Yellow Jacket Mine
Slide 12: Tungstonia Claim Block: Significant Silver Upside
TUNGSTONIA CLAIM BLOCK SIGNIFICANT SILVER UPSIDE Tungstonia Mine Silver Credits Potentially Add Substantial Historical Exploration Target1 3-4 MT @ 0.6-0.9% WO3 1.51% WO3 Yellow Jacket Project Value 50.5 g/t Ag Mine 1.12% WO3 2.4% WO3 1.4% WO3 9.6 g/t Ag 308 g/t Ag • +10g/t common within Tungsten ve
Slide 13: Tungstonia Claim Block: Rubidium Potential
TUNGSTONIA CLAIM BLOCK US and Globally Significant Rubidium Potential Tungstonia Mine Historical Exploration Target2 3-4 MT @ 0.6-0.9% WO3 Rubidium occurs as micaceous enrichment halos Vein 1 Vein 3 - 5 around quartz-tungsten veins, pegmatites, and 2264 ppm Yellow Jacket Tungstonia Rb as enrichments
Slide 14: Tailings Reclamation Near-Term Opportunity
TAILINGS RECLAMATION 14 NEAR-TERM OPPORTUNITY Excellent 2025 Results Metallurgical 34 drill holes plus 2 metallurgical, results included: and mineralogy Tails-2502 characterization • Tungsten grades of 0.13% WO3 pending • Silver grades of 10.6 g/t • Rubidium grades of 626 ppm Main Tailings A A’ Tail
Slide 15: Rees Claim Block
REES CLAIM BLOCK SIGNIFICANT TUNGSTEN, SILVER and HIGH GRADE PAST PRODUCER • Poly-metallic CRD/Skarn mineralization in several Rock Chip 0.01% WO3 Rock Chip 0.01% WO3 1.8% Cu 1.5% Cu 1,927 g/t Ag 880 g/t Ag unnamed adits, test pits concentrated in a NE trending 0.6% Sb 0.1% Sb structural corridor •
Slide 16: Growth Strategy
GROWTH STRATEGY • Establish Maiden Resources and deliver value via exploration partnerships, custom processing, and/or MONETIZE off-take agreements PARTNERED • Leverage US Government Programs and potential DEVELOPMENT Joint Venture partners to advance toward commercial production • Acquire critical
Slide 17: Eagle Project 2026 Work Plan
EAGLE PROJECT 17 2026 WORK PLAN Tigre Characterization of historic Tungstonia tails Engage with DoW and strategic partners on tail and waste material potential and monetize Define W-Rb-Sb-Ag vein system at Tungstonia and reconcile to historic production Drill and establish maiden resource at Tungsto
Slide 18: Summary
SUMMARY THE EAGLE PROJECT IS A NATIONALLY SIGNIFICANT CRITICAL MINERAL ASSET • Strategic (W-Ag-Rb) plus critical and base metals (Sb-Cu-Pb-Zn) HIGH-GRADE PAST • Historic production near 1.0% WO3 among highest grade world-wide PRODUCING DISTRICT • Possibly the only significant Rb source in US • Poten
Slide 19: Get in Touch
SPARTAN METALS CORP 202 – 3310 Carrington Rd West Kelowna, BC V4T 0C6 Canada SPARTAN EXPLORATION NEVADA 8 E Haskell St, Suite B Winnemucca, NV 89446 United States GET IN TOUCH (888) 535-0325 (Investor Information) (623) 570-3359 (Brett Marsh mobile) Info@SpartanMetals.com FOLLOW US 19
Slide 20: Appendix
S$ SPARTAN APPENDIX
Slide 21: US Import Reliance
US IMPORT RELIANCE • 100% import reliance on 12 of 50 critical minerals, including Rubidium, Arsenic and Indium • +50% import reliance on an additional 28 critical minerals, including Tungsten, Silver, Tin, Antimony, and Bismuth • Strong bipartisan US Government support to address • Eagle Project ho
Slide 22: Eagle Project: A Unique Rubidium Resource Potential
22 EAGLE PROJECT: A UNIQUE RUBIDIUM (Rb) RESOURCE POTENTIAL Global Rb Resources • Low grade lithium extraction Bubble size normalized to largest Rb resource 4000 Uncommon by-product (~50 ppm) • Global resources uncertain as Resource many very early-stage projects 3500 Mt Edon (Exp Target) reporting
Slide 23: Tungsten Facts
23 TUNGSTEN FACTS • Not mined commercially in US since 2015 • China accounted for 82.3% of 2024 world production and 52.5% of world reserves • On USGS Critical Mineral List • Primary use as tungsten carbide/cemented • DoD investing heavily to secure supply carbides • Department of Defense Makes Inve
Slide 24: Rubidium Facts
24 RUBIDIUM FACTS HIGH TECH AND MILITARY DEMAND TO DOMINATE NEW MARKET GROWTH US 100% IMPORT RELIANT • Produced as by-product (low-grades of ~50 ppm) • USGS Critical Mineral • Applications: • No primary production worldwide • Biomedical Research 1 oz Rb ≈ 0.7 • Key imports from China, Russia, and •