Spartan Metals Corp. · TSXV:W
Spartan Metals — Investor Presentation (August 2025)
26 slides from Spartan Metals's investor presentation, August 2025
Slide 1: Corporate Summary
UNLOCKING AMERICAN CRITICAL MINERALS RESOURCES CORPORATE SUMMARY August 2025 TSX-V: W
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?
3 WHY SPARTAN METALS? NEVADA BASED TUNGSTEN & CRITICAL METALS EXPLORER HIGH-GRADE 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) mineral projects to be
Slide 4: Tungsten & Rubidium Markets and Applications
4 TUNGSTEN & RUBIDIUM MARKETS AND APPLICATIONS US is heavily import reliant for key defense critical metals - found in high concentration at Spartan’s Eagle Project TUNGSTEN (W) RUBIDIUM (Rb) • Not mined commercially in the US since 2015 • Produced as by-product (low-grades of ~50 ppm) • China domin
Slide 5: 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 • Eagle Project hosts significant concentrations of at least 11 critica
Slide 6: US Critical Minerals – A New Bipartisan Initiative
6 US CRITICAL MINERALS – A NEW BIPARTISAN INITIATIVE SPARTAN METALS POSITIONED TO MEET US CRITICAL METALS ONSHORING OBJECTIVES January 20, 2025: President Trump declares National Energy Emergency that includes specific focus on critical minerals March 20, 2025: Executive Order to increase American m
Slide 7: Eagle Project
7 EAGLE PROJECT • 20 km2 land package in eastern Nevada includes past producing Tungstonia and Rees tungsten mines and Antelope copper-silver mine H I GH-GRAD E 1 • Multiple deposit types including Porphyry, Skarn, and Carbonate Replacement (CRD) • Three opportunities: Tungstonia Claims, Antelope Cl
Slide 8: Nevada: A Tier-1 Mining Jurisdiction
NEVADA: A TIER-1 8 TIER-1 MINING JURISDICTION Tigre JURISDICTION HISTORIC HIGH-GRADE PRODUCTION Eagle Project hosts past producing mines Aguila Tungstonia (~0.8% WO3, 500-1000 ppm Rb), Rees (~1%WO3, 1% Cu), and Antelope (~4% Cu, 29 opt Ag) STRATEGIC DEFENSE METALS1 Historic production of W (8,379 un
Slide 9: Eagle Project – Historic Tungsten Mining & Resources
EAGLE PROJECT – HISTORIC TUNGSTEN 9 MINING & RESOURCES • Historic Exploration Target1 3- HISTORIC US TUNGSTEN RESOURCES (kmtu) Highest Grade 4MT at 0.6-0.9% WO3 • Past production up to 1% WO3 1.2% Bubble size normalized to largest WO3 kmtu US W Deposit with underground channel samples up to 5.32% WO
Slide 10: Tungstonia Claim Block – W-Ag-CRD Exploration Potential
TUNGSTONIA CLAIM BLOCK – W-Ag-CRD 10 EXPLORATION POTENTIAL Tungstonia Mine Historical Exploration Target1 Past Producing Tungstonia Mine Tungstonia 3-4 MT @ 0.6-0.9% WO3 Pluton Vein 1 Vein 3 - 5 Historic tungsten exploration target1 of 3-4MT @ 0.6- 1.2% W 50.5 g/t Ag 0.9% WO3 hosted in quartz veins
Slide 11: Tungstonia Claim Block – Rb Exploration Potential
TUNGSTONIA CLAIM BLOCK – Rb EXPLORATION POTENTIAL Tungstonia Mine Historical Exploration Target2 Rubidium occurs as micaceous enrichment halos Tungstonia 3-4 MT @ 0.6-0.9% WO3 Pluton Vein 1 around quartz-tungsten veins, pegmatites, and Vein 3 - 5 as enrichments in granites 2264 ppm Rb Significant ro
Slide 12: Tungstonia Mine X-Section
12 TUNGSTONIA MINE X-SECTION Rock Chip Veins 1 and 2 were the 0.5% W, 31.2 g/t Ag primary zones of historic production but only mined Rock Chip Rock Chip Rock Chip 1.2% W, 50.5 g/t Ag to depths of ~75m vertical 0.1% W, 7.3 g/t Ag 0.2% W, 19.8 g/t Ag Vein 3 - 5 depth Vein 2 mined to depths of <10m •
Slide 13: Tailings Reprocessing: Near-Term Opportunity
TAILINGS REPROCESSING: NEAR-TERM 13 OPPORTUNITY TUNGSTONIA TAILS AND WASTE ROCK • 2024 sampling (3 tail and 8 waste rock) returned: • 3 tailings samples averaged 0.1% W, 464 ppm 0.10% W 0.14% W 441 ppm Rb Rb, 7 g/t Ag, 867 ppm Mn 458 ppm Rb 7.6 g/t Ag • 8 waste rock samples averaged 0.2% W, 462 9.3
Slide 14: Rees Claim Block – High Grade Cu-Ag-W-Sb ± As
REES CLAIM BLOCK – HIGH GRADE 14 Cu-Ag -W-Sb ± As HIGH GRADE PAST PRODUCER Rock Chip 0.01% W Rock Chip 0.01% W 1.5% Cu 1.8% Cu • Poly-metallic CRD/Skarn mineralization in several 1,927 g/t Ag 880 g/t Ag 0.6% Sb 0.1% Sb unnamed adits, test pits concentrated in a NE trending structural corridor Antelo
Slide 15: Growth Strategy
GROWTH STRATEGY • Establish Maiden Resources and deliver value via exploration partnerships, custom processing, and/or MONETIZE off-take agreements PARTNERED • Leverage DoD and potential JV partners to DEVELOPMENT advance toward commercial production • Acquire past producing critical metals projects
Slide 16: Leveraging DoD Connections to Deliver Project Value
LEVERAGING DoD CONNECTIONS TO 16 DELIVER PROJECT VALUE SPARTAN AND ITS ADVISORY TEAM ARE EXPERIENCED AND WELL CONNECTED WITH NEVADA LEGISLATORS AND DoD PERSONNEL RECENT EXAMPLE AWARDS (USD) DoD utilizes mandate from Defense Production Act (DPA) Title III and National RARE EARTH TUNGSTEN Defense Indu
Slide 17: Corporate Information
18 CORPORATE INFORMATION William C. Pettigrew Mr. Pettigrew has held senior officer and director positions with several public companies listed on the TSX Venture Exchange, TSX and NASDAQ. He has Share Structure CEO/Director extensive knowledge in public company financial reporting, risk management
Slide 18: Summary
19 SUMMARY THE EAGLE PROJECT IS A NATIONALLY SIGNIFICANT CRITICAL MINERAL ASSET • Strategic (W-Rb-Sb) plus precious and base metals (Ag-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 • Po
Slide 19: Get in Touch
20 SPARTAN METALS CORP Suite 228 – 1122 Mainland Street Vancouver BC V6B 5L1 Canada SPARTAN EXPLORATION NEVADA 2080 E Frontage Rd Battle Mountain, NV 89820 United States GET IN TOUCH (888) 535-0325 (General Information) (604) 313-8585 (W Pettigrew mobile) (623) 570-3359 (B Marsh mobile) FOLLOW US
Slide 20: Appendix
S$ SPARTAN APPENDIX
Slide 21: 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 22: Eagle Project Approach
23 EAGLE PROJECT 23 APPROACH Tigre Characterize historic Tungstonia tails and waste rock Define W-Rb-Sb-Ag vein system at Tungstonia and reconcile to historic production Characterize bonanza grade mineralization at Rees and Antelope Test CRD potential at Tungstonia, Rees, and Antelope Engage with Do
Slide 23: Tungsten Facts
24 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 • Approximately 4.6 MT (W) total world-wide reserves carbides • DoD investing heavil
Slide 24: Rubidium Facts
25 RUBIDIUM FACTS • US 100% import reliant • Produced from pollucite (zeolite), micas, and recovered as by-product from lithium brine production (very low concentrations typically below 100 mg/L) • On USGS Critical Minerals List – Primary use in research and development with several military applica
Slide 25: Antimony Facts
26 ANTIMONY FACTS • Used in many military applications: • Ammunition • Night vision goggles • Infrared sensors • Explosives • Nuclear weapons • Optics • Laser sighting • China has bulk of world’s identified Sb resources and much of world’s Sb is shipped to China for smelting
Slide 26: Manganese Facts
27 MANGANESE FACTS • Primary element in Eagle tungsten ore (huebnerite) • On USGS critical mineral list • US imports all manganese ore and alloys • No significant production in US since 1973 • Uses: • Alloy to steel to increase strength • Oxidizing agent • Battery manufacturing 27