Spark Energy Minerals Comments on Recent Disclosure Pursuant to CIRO's Request

Vancouver, March 12, 2026 - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark" or the "Company") has been requested by the Canadian Investment Regulatory Organization to issue this news release to clarify certain disclosure included in the Company's January 9, 2026, corporate presentation, in news releases dated February 10, 2026, and February 13, 2026, and in certain promotional materials published on a third-party platform, which were paid for and disseminated on behalf of the Company (collectively, the "Disclosure"). Investors should not place undue reliance on any prior Disclosure that is inconsistent with the clarifications set out in this news release.

Spark remains committed to transparent, NI 43-101-compliant disclosure as it advances exploration at the Arapaima Project.

TREE/MREO Values

Certain of the Disclosure presented assay results using total rare earth elements ("TREE") and magnet rare earth oxides ("MREO") values, as well as gallium intercept grades. TREE and MREO values are not directly measured by assaying, and presenting total rare earth element content as a single figure does not account for differences in economic significance, distribution, metallurgical behavior, and potential recoverability of each contributing element. Presenting the assay results this way creates a rare earth element equivalent grade that assumes 100% recovery of all component elements in the calculation. Spark must complete additional testing to determine the recovery rates of each of the components used to calculate the MREO and TREE values in the Disclosure.

Investors should not rely on previously disclosed TREE or MREO values and the Company retracts all prior TREE/MREO figures pending metallurgical test work. For clarity, any previously disclosed gallium intercepts or grades should be interpreted only with full NI 43-101 context (e.g., sampling/analytical methods, QA/QC, true widths, and relevant uncertainties). To the extent gallium figures were presented without such context or in a manner implying economic extraction or recoveries, investors should not rely on those presentations.

Adjacent Properties

The Arapaima Project is an exploration property and is not yet at the stage of a mineral resource or an economic analysis. The existence of lithium, rare earth elements, or gallium deposits on nearby properties is not necessarily indicative of mineralization at the Arapaima Project. The performance and market capitalizations of other companies with more advanced projects in proximity to the Arapaima Project are not indicative of the Company's future performance, and no inference should be drawn from such comparisons. References in prior Disclosure comparing Arapaima to adjacent or nearby projects, including comparisons to resource stage or production stage companies, were not compliant with NI 43-101 and should not be relied upon. Statements in the prior Disclosure referencing the performance, market capitalization, or geological characteristics of nearby companies should not be interpreted as indicating, suggesting, or implying that Arapaima contains similar mineralization, resources, or economic potential.

Promotional Commentary

Certain Disclosure included promotional materials disseminated on behalf of the Company which contained certain speculative and unbalanced commentary. The Company acknowledges that it is responsible for the content of promotional materials paid for and disseminated on its behalf, including those published on third-party platforms. Statements referencing geopolitical developments or government policy reflected general industry commentary and were not intended to convey specific expectations about the Company's prospects; investors should not place undue reliance on such statements. Further, statements suggesting that further exploration of the Arapaima Project may result in the development of mineral resources or mineral reserves are overly promotional and should not be relied upon. There is no certainty that continued exploration will result in the discovery of an economically viable mineral deposit. The Company has implemented enhanced review procedures to ensure that all promotional materials disseminated on its behalf are reviewed for compliance with applicable securities laws prior to publication.

The Company encourages investors to refer to Spark's updated investor presentation, dated March 3, 2026, which can be accessed on the Company's website at www.sparkminerals.co.

Review by a Qualified Person

The scientific and technical information disclosed in this news release has been reviewed and approved by Dr. Fernando Tallarico, P.Geo., Chief Executive Officer and Chairman of the Board, a Qualified Person as defined by NI 43-101.

Going forward, the Company intends to have all technical and promotional disclosure reviewed by a Qualified Person and by the Company's legal and compliance team, as applicable, prior to dissemination. The Company's management team intends to review all investor-facing materials prior to release to ensure compliance with NI 43-101 and to prevent the recurrence of non-compliant or promotional disclosure. The Company will strive to provide balanced, factual, and NI 43-101-compliant technical information in its disclosure, and will refrain from using TREE/MREO values or analogies to nearby deposits absent appropriate supporting data.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288349