Mr. Lee Barker reports

POSITIVE ASSAY RESULTS AND UPCOMING DRILLING AT PENSE CRITICAL METALS PROJECT

Sparton Resources Inc. has received encouraging assay results from surface samples collected earlier this year from the Verrier-Gagne zone, in Ontario. For additional context, please refer to the Sparton news release dated Sept. 8, 2025.

In addition to these results, the company will soon commence a drilling program on the Quebec portion of the Pense claim group. This program aims to investigate strong electromagnetic (EM) anomalies identified by airborne and ground geophysical surveys conducted by Sparton in the area. The mineralization at Pense demonstrates notable similarities to critical minerals deposits such as Outokumpu, Kevitsa and Talvivaara in Finland.

Overview of mineral showings: Verrier-Gagne zone

The Verrier-Gagne zone, situated in Ontario, was explored by Verrier in 1966 (Ontario Ministry of Mines assessment report 31M13SE0015, no assays), and Adventure Gold in 1997, as documented in the GESTIM assessment report GM65183. Further exploration -- including trenching and sampling -- was conducted in the Gagne program in 2007, as referenced in the Ontario government assessment report 20004162. Recent survey lines from the southern portion of Sparton's expert geophysics target EM airborne survey appear to partially cover this mineralized zone.

The mineralized area (centered on NTS co-ordinates 609750E, 5293375N) exhibits substantial sulphide mineralization associated with a syenite intrusive, as well as with mafic and ultramafic volcanic rocks. Sparton collected 15 grab and character samples representing various mineralization types from exposed zones. Of these, 10 samples returned significant values for copper, nickel and zinc, while six samples displayed anomalous cobalt content. The observed mineralization ranged from massive to semi-massive sulphides, primarily comprising visible pyrite, pyrrhotite, chalcopyrite and sphalerite within mafic and ultramafic volcanic rocks, to disseminated and streaky sulphides within black interflow sedimentary material.

Highlights assay results

The assay results for the surface samples are summarized as follows:

• Copper: 0.04 per cent to 0.64 per cent Cu;
• Nickel: 0.06 per cent to 0.29 per cent Ni;
• Zinc: 0.05 per cent to 0.52 per cent Zn;
• Cobalt (anomalous samples): 0.019 per cent to 0.023 per cent Co, associated with higher nickel values.

Average values for the heaviest mineralized samples:

• Copper: 0.30 per cent (six samples);
• Nickel: 0.20 per cent (five samples);
• Zinc: 0.40 per cent (four samples);
• Cobalt: 0.021 per cent (six samples).

Discussion of results

These results are considered significant given the limited outcrop exposure available for sampling and the established zoned nature of this style of mineralization, as demonstrated by the company's drilling results from 2024 (see news release dated Dec. 5, 2024). Notably, the anomalous cobalt values are the first reported by Sparton in this area, suggesting the possibility of mineral zoning across different parts of the property.

Future work planned for this area includes detailed horizontal loop electromagnetic and magnetic surveys, with the potential for additional drilling at a later stage.

Upcoming drilling program at Pense

A diamond core drilling program, totalling up to 1,000 metres, is scheduled to commence in mid-November. This initiative will target geophysical anomaly sites identified on the Pense Quebec claims. Edcor Drilling Services Inc. has been contracted for this work, and mobilization of equipment to the site is currently under way.

Assay quality control and quality assurance

Mineralized areas were sampled, with each sample cut in half using a diamond blade rock saw. One-half of each grab and character sample was submitted to ALS Canada Ltd. Laboratories, Timmins, Ont., an ISO-certified facility, for assay analysis. Standard industry practices for chain of custody, quality assurance and quality control were followed; however, blanks and standards were not utilized for this sequence of analyses. ALS's ME-ICP41 induced coupled plasma (ICP) procedure was used for 36-element analyses with aqua regia digestion. Gold analyses were conducted separately using the Au-AA-24 method on a 50-gram aliquot, fire assayed and with an atomic absorption (AA) finish.

Qualified person statement

This news release was prepared, reviewed and approved by A. L. Barker, MASc, PEng, president and chief executive officer of Sparton, in his capacity as a qualified person (QP) under the guidelines of National Instrument 43-101.

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