Mr. Brett Marsh reports

SPARTAN METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Spartan Metals Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $4.4-million through the sale of up to eight million units at the price of 55 cents per unit. Each unit consists of one common share of the company and one-half of one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one additional share of the company at a price of 85 cents per share for a period of 12 months from the date of issue, subject to, in the event that the closing price of the shares of the company on the TSX Venture Exchange or other trading system exceeds $1.10 for more than 10 consecutive trading days, the company having the right to accelerate the expiry date by disseminating a news release announcing that the warrants will be void within 14 calendar days if not exercised within that time period.

Certain insiders of the company may acquire securities under the private placement. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

The company may pay finders' fees of 6 per cent in connection with the private placement in cash and warrants. Each finder's warrant will entitle the holder to acquire one additional common share in the capital of the company at a price of 85 cents for 12 months until the expiry date and subject to the acceleration right.

All securities to be issued in the private placement will be subject to a four-month-plus-one-day hold period from the closing date under applicable securities laws in Canada.

The proceeds from the sale of the private placement will be used to finance the company's exploration projects and for general working capital.

About Spartan Metals Corp.

Spartan Metals is focused on developing critical minerals projects in well-established and stable mining jurisdictions in the Western United States, with an emphasis on building a portfolio of diverse strategic defence minerals such as tungsten, rubidium, antimony, bismuth and arsenic.

Spartan's high-quality project portfolio includes an option to earn 100 pepr cent of the Victorio tungsten-molybdenum project in New Mexico and the Eagle tungsten-silver-rubidium project in Nevada. Victorio hosts the largest tungsten resource in the United States and contains significant concentrations of beryllium and fluorspar, while the Eagle project consists of the highest-grade historic tungsten resource in the United States, which includes significant underdefined resources consisting of: high-grade silver; rubidium; antimony; bismuth; indium; as well as precious and base metals.

We seek Safe Harbor.