Sparton Resources Inc. Final Approval for Private Placement and Updates

About this update from Sparton Resources Inc.

Sparton Resources Inc. Final Approval for Private Placement and UpdatesTORONTO, ON / ACCESS Newswire / January 22, 2026 / Sparton Resources Inc. (TSXV:SRI) ("Sparton" or the "Company") is pleased to announce it has received final approval for its non-brokered private placement offering, which was first announced on October 30th, 2025. The total gross proceeds from both closings amount to C$410,000. For further details, refer to the Company's previous news releases dated December 12th, 2025, November 11th, 2025, and October 30th, 2025.Sparton has issued a total of 5,285,715 National Flow-Through Share ("NFTSU") Units at a price of C$0.035 per unit. It has also issued a total of 6,000,000 Quebec Flow Through Share Units ("QFTSUs)" at a price of $0.035 per share unit. Each NFTSU and each QFTSU consists of one common share and one-half of a non-flow through Share Purchase Warrant ("SPW"), amounting to a total of 5,642,858 full SPWs. A full SPW allows the holder to purchase one common share of the Company at C$0.08 within 12 months from the Issue Date.Each NFTSU and each QFTSU is classified as a Critical Metals "flow-through share" according to the Income Tax Act (Canada).Additionally, the Company issued 500,000 non-flow-through share units ("SU") at $0.03 per unit. Each SU includes one common share and one-half warrant amounting to 250,000 full warrants. A full warrant grants the holder the right to purchase one common share at $0.05 per share for up to 2 years from the date of issue.The gross proceeds from the NFTSU, QFTSU and SU issuance will be used exclusively for resource exploration expenses that qualify as "Canadian exploration expenses" and "flow through mining expenditures" under the Income Tax Act. These expenditures will be renounced to NFTSU, and QFTSU purchasers with an effective date no later than December 31st, 2025, in an amount equal to or greater than the gross proceeds raised from the NFTSU And QFTSU issues. If the Canada Revenue Agency reduces the Qualifying Expenditures, Sparton will indemnify any Unit subscribers for any extra taxes they may owe due to the Company's failure to renounce the expenditures.Finders Fees totalling $29,700 in cash and 673,571 full broker warrants have been paid and issued to third-party finders. Each broker warrant issued for the NFTSUs enables the holder to purchase one common share of the Company at $0.05, ex...

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