Spark Announces Completion of Maiden Drill Campaign in Brazil's Lithium Valley and Provides Corporate Update

06.02.2026  |  Newsfile

Vancouver, February 6, 2026 - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark" or the "Company") is pleased to provide an update on its maiden reverse circulation ("RC") drill campaign at the Arapaima Project in Brazil's Lithium Valley. The Company also provides an update on its previously disclosed warrant incentive program, recent marketing and investor awareness initiatives, and certain corporate governance matters.

Maiden Drill Campaign Completed - Arapaima Project, Brazil

Spark has successfully completed its maiden drill campaign at the Arapaima Project, located near the Cruzeta community approximately 7 kilometres from the city of Padre Paraíso, Minas Gerais, Brazil.

The drill program was originally designed as a three-hole, approximately 300-metre first-pass campaign to test priority near-surface targets identified through earlier surface geochemical sampling. Based on favourable drilling conditions and strong operational progress in the field, the program was expanded and completed with five RC drill holes totaling 296 metres, providing broader initial coverage across the target area.

Figure 1: Reverse circulation drilling at Spark Energy Minerals' Arapaima Project in Brazil's Lithium Valley during the Company's maiden drill campaign.

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The maiden RC drill campaign represents the first phase of Spark's broader, staged exploration strategy at the company's flagship Arapaima Project.

The completed drill holes are summarized as follows:

• ARA-RC-001: 58 metres

• ARA-RC-002: 44 metres

• ARA-RC-003: 94 metres

• ARA-RC-004: 46 metres

• ARA-RC-005: 54 metres

Drilling targeted areas characterized by thick saprolite developed from the physical weathering of granitic rocks correlated to the Caladão Granite, which is widespread in the Padre Paraíso region and has been the focus of prior surface geochemical sampling for rare earth elements. The local terrain comprises a plateau with elevations ranging from approximately 920 to 960 metres.

The RC drilling methodology proved effective within the developed saprolitic profile, eliminating the need for water in the drilling fluid and enabling efficient field operations. Sample recovery ranged between 85% and 100% across the program. Access to drill sites was excellent due to proximity to existing infrastructure and the nearby city of Padre Paraíso.

Pulverized and chip samples were collected at 2-metre intervals during drilling. Samples were quartered using a Jones splitter, with approximately 2 kilograms submitted for laboratory analysis and 1 kilogram retained for reference. A comprehensive QA/QC protocol was implemented, including the insertion of blanks, duplicates, and certified reference materials at regular intervals.

All samples were securely packaged, transported by Spark's geology team, and submitted to the SGS Geosol laboratory for chemical analysis. Logging of all drill holes has been completed, and the Company is currently awaiting analytical results.

Warrant Incentive Program Reached Mid-Point

Spark announces that its previously announced warrant incentive program (the "Incentive Program") has reached its mid-point. The Company encourages all eligible warrant holders to consider exercising their warrants during the remaining two weeks of the Incentive Program, which is scheduled to conclude on February 22, 2026 at 5:00 p.m. (Pacific time).

During the Incentive Program, eligible warrant holders benefit from a reduced exercise price of $0.05 per warrant. In addition, the Company will grant to each holder who exercises their warrants during the Incentive Program one additional common share purchase warrant for each warrant exercised (each, an "Incentive Warrant"). Each Incentive Warrant entitles the holder thereof to purchase one common share of the Company for a period of 1 year from the date of issuance, at a price of $0.06 per share.

For further details on the Incentive Program, please refer to the Company's news release dated January 21, 2026.

Engagement of Pinnacle Capital Markets Ltd.

The Company is also pleased to announce that it has entered into a digital marketing and awareness program agreement (the "Marketing Agreement") dated February 15, 2026 with Pinnacle Capital Markets Ltd. / TheInvestorsColiseum.com ("Pinnacle"), an arm's length party with respect to the Company. Pursuant to the Marketing Agreement, Pinnacle has agreed to provide digital marketing and awareness services to the Company for an initial term of one year, with automatic renewal thereafter unless terminated in accordance with the Marketing Agreement. The services will include development and coordination of a digital marketing awareness platform, dissemination of publicly available information regarding the Company and its activities, digital advertising and marketing to the financial and investing community, and enhancement of the Company's digital footprint and social media presence across multiple platforms.

In consideration for the services, the Company has agreed to pay Pinnacle $4,500 per month. In addition, the Company has agreed to grant to Pinnacle options to purchase an aggregate of 200,000 common shares of the Company at an exercise price of $0.05 per share, exercisable for a period of three years from the date of grant, subject to approval of the Canadian Securities Exchange and in accordance with the Company's stock option plan.

Pinnacle's contact information is as follows: email: spyros@theinvestorscoliseum.com, telephone: +1.416.433.5696, business address: 36 Lombard Street, Floor 4, Toronto, ON M5C 2X3.

Spyros P. Karellas is the principal of Pinnacle and will be responsible for all services provided by Pinnacle to the Company.

Engagement of bullVestor Medien GmbH

The Company is also pleased to announce that it has entered into an agency agreement (the "Agreement") dated February 5, 2026 with bullVestor Medien GmbH Gutenhofen ("bullVestor"), an arm's length party with respect to the Company, to provide advertising and marketing services to the Company in the Republic of Austria, Germany and Switzerland for an initial term of one month commencing on February 5, 2026 and concluding on March 5, 2026. The services will include advertising consulting on market strategy, advertising design and creation for print and online media, and direct marketing campaigns. In consideration for the services, the Company has agreed to pay bullVestor CAD $50,000 for the one-month term.

bullVestor's contact information is as follows: email: kontact@bullvestor.at, telephone: +43 (0) 7435 44077, business address: Gutenhofen 4, 4300 St. Valentin, Austria.

Helmut Pollinger is the principal of bullVestor and will be responsible for all services provided by bullVestor to the Company.

Corporate Update - Board of Directors

The Company also announces that Ms. Wendy Chan has resigned as a director of Spark, effective January 8, 2026. The Company thanks Ms. Chan for her contributions during her tenure and wishes her continued success in her future endeavours. Spark is currently evaluating potential candidates to fill the resulting vacancy on its Board of Directors and will provide further updates as appropriate.

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 release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian and United States securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the services to be provided under the agreements with Pinnacle and bullVestor.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the risk that the services under the agreements with bullVestor and Pinnacle will not be performed as anticipated.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the services under the agreements with Pinnacle and bullVestor will be performed as anticipated.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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