State Government and Invest Minas formalize institutional support for Spark's rare earth, gallium and lithium project in Brazil's Lithium Valley

Vancouver, British Columbia--(Newsfile Corp. - June 18, 2026) - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark" or the "Company") is pleased to announce that it has entered into a Protocol of Intentions (a memorandum of understanding) with the Government of the State of Minas Gerais, Brazil, through the State Secretariat for Economic Development ("SEDE") and Invest Minas (Instituto de Desenvolvimento Integrado de Minas Gerais – "INDI"), formalizing the State's intention to support the advancement of the Company's rare earth element, gallium and lithium ("REE-Ga-Li") critical minerals project in Brazil's emerging Lithium Valley.

Under the Protocol of Intentions, Invest Minas — the State's official investment promotion agency — has expressed its commitment to support Spark across the development and operational phases of the project, including by facilitating engagement with State and municipal government bodies, assisting with the approvals and licensing required for the project, supporting the Company in its interactions with public, private and mixed-economy entities on infrastructure matters, and introducing and promoting engagement with potential suppliers.

The signing ceremony took place at the 3rd Brazil Lithium & Critical Minerals Summit 2026 in Belo Horizonte, Minas Gerais. On behalf of the State, the Protocol of Intentions was signed by Ms. Mila Batista Leite Corrêa da Costa, State Secretary for Economic Development, and Ms. Milena Pedrosa, Chief Executive Officer of Invest Minas; and, on behalf of the Company, by Dr. Fernando Tallarico, CEO & Chairman, and Jonathan Hill, VP Exploration, Country Manager & Director. As a protocol of intentions, the agreement is non-binding and reflects the parties' shared intention to work together as the project advances.

The Summit is among the principal international gatherings dedicated to Brazil's lithium and critical minerals sector. Its 2026 edition convened mining and exploration companies, government authorities, investors and international delegations from across the Americas, Europe, the Middle East, Africa and Asia-Pacific, and drew significant national and international media coverage, underscoring the growing strategic attention focused on the Lithium Valley and on Minas Gerais as a destination for critical minerals investment.

The agreement reflects a growing alignment between Spark and the State of Minas Gerais and underscores the strong institutional engagement the Company continues to build at the local, regional and state levels. Spark's field activities are currently concentrated in the municipality of Padre Paraíso, in the northern part of the State, where the Company maintains a field office and works alongside the local community.

"We are honoured by the confidence and support of the Government of Minas Gerais and Invest Minas, and we deeply value the partnership we are building with the State," said Dr. Fernando Tallarico, Chief Executive Officer & Chairman of Spark Energy Minerals. "Minas Gerais has a proud mining heritage and a clear, forward-looking vision for the Lithium Valley, and we are proud to be advancing our work within it.

"Above all, we want to thank the people and the municipality of Padre Paraíso, who have welcomed our team with such warmth. It is where our field office is based and where much of our work is concentrated today. This Protocol of Intentions is a meaningful signal that we are building this project hand in hand with the communities and institutions of Minas Gerais — and we are committed to doing so responsibly and for the long term."

Dr. Fernando Tallarico, CEO & Chairman of Spark Energy Minerals, at the signing of the Protocol of Intentions during the 3rd Brazil Lithium & Critical Minerals Summit 2026 in Belo Horizonte, Minas Gerais.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/10093/302120_c2dc5a3414a268bb_002full.jpg

Reverse Circulation Drilling Update

The Company is also pleased to advise shareholders that its ongoing Reverse Circulation ("RC") drilling program at the Arapaima Project is progressing well. The first batches of samples are in process, and initial results are anticipated imminently. Consistent with the Company's disclosure practices, results will be released to the market once they have been received from the laboratory, validated through Spark's quality assurance and quality control ("QA/QC") protocols, and interpreted by the Company's technical team. Spark looks forward to updating the market in due course.

Qualified Person

The scientific and technical information disclosed in this news release has been reviewed and approved by Jonathan Victor Hill, BSc (Hons), FAusIMM, VP Exploration, Country Manager & Director, and Dr. Fernando Tallarico, P.Geo., FSEG, Chief Executive Officer & Chairman of the Board, each of whom is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Hill is a Director of Spark Energy Minerals Inc. and is not independent of the Company. Dr. Tallarico is the Chief Executive Officer of Spark Energy Minerals Inc. and is likewise not independent of the Company.

About Spark Energy Minerals Inc.

Spark Energy Minerals Inc. is a Canadian company advancing the exploration and development of critical minerals essential to the clean-energy transition. The Company's primary focus is Brazil, where it controls a significant land position within the country's emerging Lithium Valley – a region recognized for its lithium, gallium, and rare-earth potential. Spark's flagship Arapaima Project spans approximately 91,900 hectares and hosts multiple targets for lithium and gallium-REE mineralization. Through systematic exploration, Spark aims to help strengthen the secure and sustainable supply of minerals that power electrification, renewable energy, and modern technologies. The Company is committed to responsible exploration practices and supporting Brazil's development of a transparent, sustainable critical minerals supply chain.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release has been prepared in accordance with the Company's continuous disclosure obligations under applicable Canadian securities laws and the policies of the Canadian Securities Exchange (the "CSE"). Spark Energy Minerals Inc. is a reporting issuer in the Provinces of British Columbia and Ontario, with the British Columbia Securities Commission ("BCSC") as its principal regulator, and is subject to National Instrument 51-102 - Continuous Disclosure Obligations, National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings. The scientific and technical disclosure in this news release has been reviewed and approved by the Company's Qualified Persons, including a Professional Geoscientist (P.Geo.), as required by NI 43-101.

Certain statements in this news release constitute "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation and, where applicable, the safe-harbour provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information includes, without limitation, statements regarding: the Protocol of Intentions and the nature, scope, timing and effect of any support, facilitation, licensing or permitting assistance, infrastructure assistance or supplier introductions to be provided by Invest Minas, SEDE or the Government of the State of Minas Gerais; the timing, receipt, QA/QC validation, interpretation and results of the Company's Reverse Circulation ("RC") drilling program; the advancement of the Arapaima Project and the evaluation of targets across the Company's land package; any anticipated investment, capital expenditure, employment, infrastructure, permitting, development or production timelines associated with the project; the availability and terms of future financing; and the Company's strategies, objectives and plans.

Forward-looking information is based on assumptions that management considers reasonable as of the date hereof, including assumptions regarding the continued support of governmental and institutional counterparties; the Company's ability to obtain required permits, licences and approvals; the Company's ability to raise sufficient financing on acceptable terms; the accuracy of exploration data and geological interpretations; the availability of equipment, personnel and laboratory services; and stable market, commodity-price, regulatory and geopolitical conditions. Such assumptions are inherently subject to significant business, economic, competitive and regulatory uncertainties and contingencies.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including, among others: that the Protocol of Intentions is non-binding, does not constitute a contract, creates no enforceable financial or other obligation on any party, and may be terminated by either party on prior written notice; that there has been insufficient exploration to define a mineral resource or mineral reserve on the Arapaima Project, and it is uncertain whether further exploration will result in the delineation of a mineral resource or reserve; that exploration and drilling results, including pending RC assays, may not be as expected or may not be confirmed following QA/QC validation and interpretation; and risks relating to permitting and title, financing and dilution, commodity prices, currency and inflation, community relations, environmental matters and changes in law, together with the other risk factors described in the Company's continuous disclosure record available under its profile on SEDAR+ (www.sedarplus.ca).

Any references — whether in this news release or in third-party reports, media coverage or commentary — to potential investment levels, capital expenditure, job creation, project scale, schedules or timelines, including any figures reported by media or other parties in connection with the Protocol of Intentions or the project, are estimates and forward-looking only, are highly speculative, are not guarantees of future performance, and are wholly contingent on the successful completion of numerous prior stages of the project, including mineral exploration and resource definition, metallurgical and economic studies, environmental and other licensing, the availability of financing, and the existence of suitable market conditions, many of which are beyond the Company's control. The Company does not adopt, confirm or endorse any such third-party estimates.

Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this news release. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302120