Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Spartan Metals Corp. (TSXV: W) (OTCQB: SPRMF) (FSE: J03) ("Spartan" or the "Company") validates historic drilling data which supports the upcoming Preliminary Economic Assessment ("PEA") announced May 5, 2026 at its Victorio Tungsten-Molybdenum Project, New Mexico (Figure 1).
Historic Drilling Highlights:
34 holes exceed 100 feet (~30.5 meters) of continuous Tungsten-Molybdenum mineralization
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Additional multiple stacked zones of mineralization over 50 feet (~15.2 meters) occur throughout deposit
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26 holes not included in 2008 historic economic analysis, including 12 holes that were not included in the 2012 historic mineral resource estimate, suggest significant upside potential once these holes are considered in the current PEA update
Tungsten and molybdenum combined establish molybdenum equivalent (MoEq) grades at Victorio 0.09% WO3 and 0.09%1 Mo (0.19% MoEq) compare favorably to Freeport-McMoRan's Henderson Mine resource grade of 0.14% Mo2
PEA on target for early Q4 2026 release
Brett Marsh, Spartan's President and CEO, stated: "The validation of these historic drill results marks an exciting milestone in our ongoing technical evaluation of the Victorio Project and further reinforces our conviction that acquiring this asset was a transformational opportunity for Spartan Metals. The identification of 34 drill holes with more than 100 feet of continuous tungsten-molybdenum mineralization demonstrates the impressive scale and continuity of the mineralized system. Equally encouraging is the fact that many of these large, mineralized intervals were not incorporated into previous resource estimates or historical economic evaluations, providing additional technical information as we advance the updated Preliminary Economic Assessment for Victorio.
"Our ongoing data validation program continues to uncover the breadth of historical drilling completed at Victorio and is providing new insights into the size and characteristics of the mineralized system. The combination of extensive continuous mineralization, broad mineralized widths, and apparent bulk-tonnage characteristics highlights why we believe Victorio compares favourably, from a geological perspective, with large underground molybdenum systems such as Freeport-McMoRan's Henderson mine, while also benefiting from a significant tungsten component that distinguishes the Victorio Project. Although Victorio remains at a much earlier stage of technical evaluation, these historical results continue to reinforce our confidence in the project's strategic importance within the U.S. critical minerals sector.