Spearmint Closes Private Placement

Vancouver, British Columbia--(Newsfile Corp. - February 5, 2018) - Spearmint Resources Inc. ("SRJ" or the "Company") (TSXV: SRJ) (OTCBB: SPMTF) (FSE: A2AHL5) announces that it has closed a non-brokered private placement (December 7 & December 13, 2018).

James Nelson, President states, "We are pleased and grateful to our shareholders for the response to this placement. We are now fully cashed up to undertake multiple work programs in Nevada, Quebec and BC. We plan to commence operations this month and look forward to very active 2018."

Terms of the placement consists of 3,833,845 flow-through units (the "FT Units") at $0.065 per FT unit for gross proceeds of $249,200, as well as 15,000,0000 non flow-through units (the "NFT Units") at a price of $0.05 per NFT Unit for total proceeds of $750,000. Each FT Unit will consist of one flow-through common share (a "FT Share") and one non-flow through transferable share purchase warrant (a "FT Warrant").  Each FT Warrant will entitle the holder to purchase one non-flow through common share (a "FT Warrant Share") at a price of $0.10 until January 29, 2020.  Each NFT unit will consist of one common share (a "NFT Share") and one transferable share purchase warrant (a "NFT Warrant").  Each NFT Warrant is exercisable to purchase an additional common share (a "NFT Warrant Share") at a price of $0.08 until January 29, 2021.

An aggregate finders' fee of $35,376 and 629,908 Broker Warrants was paid in connection with the private placement. The B Warrants are each exercisable at $0.10 per share until January 29, 2020. All the securities issued in connection with this private placement have a hold period that expires on May 30, 2018. Proceeds will be used toward the Company's working capital, a work program in Nevada, as well as work on the BC Golden Triangle properties and the Quebec vanadium assets. The private placement is subject to final approval of the TSX Venture Exchange and was originally announced on December 7, 2018, and amended on December 13, 2018.

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Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

"James Nelson"
President
Spearmint Resources Inc.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.