Twelve-hole RC step-out program confirms near-surface gallium in every hole and extends the single Cruzeta target approximately 2.9 km westward into its western area

Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) is pleased to report assay results from twelve reverse circulation drill holes (ARA-RC-009 to ARA-RC-020) at the Cruzeta target of its flagship Arapaima Project in Brazil’s Lithium Valley, Minas Gerais State.

The results materially expand the scale of Arapaima. Drilling confirmed near-surface gallium mineralization in every hole and extended the known mineralized trend approximately 2.9 kilometres westward, from the eastern area of the Cruzeta target into its western area. The single Cruzeta target now defines a mineralized footprint measuring approximately 4.4 kilometres east-west by 1.5 kilometres north-south, interpreted as one broad, contiguous mineralized trend, giving Spark a substantially larger target area for continued drilling.

Gallium Intersected from Surface in All Twelve Holes

Gallium mineralization was intersected from surface in all twelve holes reported in this program, overlying a broader rare earth element (“REE”) zone. Composite intervals include 30 m from surface at 69 g/t Ga₂O₃ in ARA-RC-011 and 12 m from surface at 77 g/t Ga₂O₃ in ARA-RC-012, with the highest individual 2 m sample returning 85 g/t Ga₂O₃ from 10-12 m in ARA-RC-011.

Underlying rare earth mineralization returned composite intervals including 14 m at 3,125 ppm TREO and 32 m at 2,456 ppm TREO, with an individual 2 m sample of 12,039 ppm TREO (1.20% TREO). All grades are in-situ analytical results; no metallurgical recovery is implied.

Highlights

• Expanded footprint: the single Cruzeta target now defines a mineralized footprint of approximately 4.4 km east-west by approximately 1.5 km north-south.
• Gallium from surface in all twelve holes, with composited intervals including 30 m from surface at 69 g/t Ga₂O₃ in ARA-RC-011 and 12 m from surface at 77 g/t Ga₂O₃ in ARA-RC-012.
• Highest individual gallium sample: 85 g/t Ga₂O₃ over 2 m in ARA-RC-011 from 10-12 m.
• Strong rare earth results beneath the gallium zone, including ARA-RC-011 with 14 m at 3,125 ppm TREO from 44 m, including 2 m at 12,039 ppm TREO (1.20% TREO) from 46 m.
• The western area of the Cruzeta target returned several of the strongest results in the program and is a priority for follow-up drilling.
• Metallurgical test work is underway at ANSTO in Australia; no metallurgical recoveries are implied by the assay results reported in this release.

Why These Results Matter

The key development is scale. The first five discovery holes established mineralization in the eastern area of the Cruzeta target. This twelve-hole step-out program shows that the same broad exploration theme extends approximately 2.9 kilometres westward within the same target, creating a substantially larger area for follow-up drilling. The results also show a repeated vertical pattern: near-surface gallium mineralization passing downward into a thicker REE-bearing zone.

Gallium is designated a critical mineral by Canada, the United States and the European Union. It is used in compound semiconductors, LEDs, electric vehicles, solar cells, defense radar and electronic-warfare systems. Gallium is typically recovered as a by-product of bauxite/alumina and zinc processing, so the occurrence of near-surface gallium mineralization within an ionic-adsorption clay (“IAC”)-style rare earth system at Arapaima is an important exploration feature. This context is general industry information only and does not imply recoverability or economic viability at Arapaima.

“This follow-up drilling program significantly expands the mineralized footprint at Arapaima,” said Dr. Fernando Tallarico, Chief Executive Officer of Spark Energy Minerals. “The program extended the original discovery area approximately 2.9 kilometres westward, with gallium beginning at surface in every hole and strong rare earth results below, supporting our interpretation of Cruzeta as one broad, contiguous target from east to west. We are continuing to drill and look forward to the upcoming metallurgical test results from ANSTO.”

Cruzeta Target Footprint & Key Results

 Figure 1. Location map showing reported, initial, planned and pending RC drill holes across the eastern and western areas of the Cruzeta target and the expanded Arapaima mineralized footprint.

Gallium Results — Intersected from Surface in All Twelve Holes

Gallium mineralization was intersected from surface in all twelve holes, demonstrating consistent near-surface gallium mineralization across both the western and eastern areas of the Cruzeta target. Table 1 summarizes the reported gallium intervals together with the peak individual 2 m samples returned in each hole.

Table 1. Gallium results for RC drill holes ARA-RC-009 to ARA-RC-020. Composite intervals are reported above an approximate 50 g/t Ga₂O₃ basis. Gallium is reported as gallium oxide (Ga₂O₃) in g/t as in-situ analytical content.

TREO / Rare Earth Results

Rare earth mineralization was intersected beneath the near-surface gallium zone, with the strongest TREO interval returned in ARA-RC-011 in the western area of the Cruzeta target. Table 2 summarizes the reported TREO intervals together with MREO and NdPr proportions, which provide additional context on the magnet rare earth content of the reported rare earth mineralization.

Table 2. TREO, MREO and NdPr results for RC drill holes ARA-RC-009 to ARA-RC-020. Composite intervals are reported above a 500 ppm TREO cut-off. MREO is calculated as Nd₂O₃ + Pr₆O₁₁ + Dy₂O₃ + Tb₄O₇, and NdPr as Nd₂O₃ + Pr₆O₁₁; each is expressed as a percentage of TREO. NdPr ppm is calculated from the reported TREO interval grade and NdPr percentage. All values are in-situ analytical assay results and do not imply recoverability.

Supporting REE Oxide Assay Data

The full individual rare earth oxide assay table supporting the TREO, MREO and NdPr values reported in this release is available at the following link:

https://sparkminerals.co/arapaima-ree-oxide-assay-table

The supporting schedule sets out the individual rare earth oxide assay results for drill holes ARA-RC-009 to ARA-RC-020. Values are reported as in-situ analytical assay results and do not imply recoverability, metallurgical recovery, economic viability or equivalent-grade economics.

The Cruzeta Target: Western and Eastern Areas

Cruzeta West and Cruzeta East, as referenced in this release and its tables, denote the western and eastern areas of the single Cruzeta target. The western area returned several of the strongest results in the program, including the highest individual gallium sample and the highest individual TREO sample. These results support treating the western area as a priority for follow-up drilling rather than a peripheral step-out.

In the eastern area, the new drilling supports the extension of the original discovery area. ARA-RC-018 returned 32 m at 2,456 ppm TREO from 32 m, including intervals of 2 m at 4,387 ppm TREO from 36 m, 4 m at 4,573 ppm TREO from 38 m and 2 m at 6,007 ppm TREO from 42 m.

Figure 2. Strip log for borehole ARA-RC-011 showing the geological interpretation of pedogenic horizons developed between fresh rock and regolith, together with TREO and Ga₂O₃ assay profiles.

 Figure 3. Geological section illustrating the interpreted near-surface gallium zone overlying broader REE mineralization.

Geological Interpretation and Next Steps

In each of the twelve holes, drilling encountered near-surface gallium mineralization passing downward into a thicker rare earth-bearing zone, consistent with Spark’s current interpretation of a vertically zoned, supergene IAC-style profile developed through deep tropical weathering of granitic host rocks. The recurrence of this near-surface gallium cap over a rare earth zone in both the eastern and western areas of the Cruzeta target supports continued exploration; it has not been verified by a mineral resource estimate.

Step-out and infill drilling is ongoing as part of Spark’s current follow-up 2,000-metre RC program, which is nearing completion. Samples for metallurgical test work have arrived at ANSTO in Australia and are currently being processed. No metallurgical recovery results are available at this time.

Drill Hole Information

The holes are vertical RC drill holes (dip -90°). Collar coordinates are in SIRGAS 2000 UTM Zone 24S. Reported intervals are downhole widths; as the holes are vertical, true widths are not known and may differ materially from the downhole widths reported.

Table 3. Drill hole collar information for RC drill holes ARA-RC-009 to ARA-RC-020. Coordinates are reported in SIRGAS 2000 UTM Zone 24S. Reported intervals are downhole widths; true widths are not known.

Technical Notes and Reporting Basis

“TREO” means total rare earth oxides and is calculated as the arithmetic sum of CeO₂, La₂O₃, Pr₆O₁₁, Nd₂O₃, Sm₂O₃, Eu₂O₃, Gd₂O₃, Tb₄O₇, Dy₂O₃, Ho₂O₃, Er₂O₃, Tm₂O₃, Yb₂O₃, Lu₂O₃ and Y₂O₃.

“MREO” means magnet rare earth oxides and is calculated as Nd₂O₃ + Pr₆O₁₁ + Dy₂O₃ + Tb₄O₇. Samarium is not included. “NdPr” means Nd₂O₃ + Pr₆O₁₁.

TREO, MREO, NdPr and gallium oxide (“Ga₂O₃”) values reported in this release are in-situ analytical assay results only. These values are reported on an oxide basis and should not be interpreted as recoverable rare earth oxides, recoverable gallium oxide, metal-equivalent grades, mineral-equivalent grades or implied metallurgical recoveries. Metallurgical test work is in progress, and no metallurgical recoveries have been determined for gallium or the rare earth elements.

Gallium is reported as Ga₂O₃ in grams per tonne (g/t). Gallium results are provided in the context of the broader rare earth mineralized system and are not intended to imply economic extraction or recovery.

Reported intervals are length-weighted composites. Rare earth intervals are reported above a 500 ppm TREO cut-off, and gallium intervals are reported from surface above an approximate 50 g/t Ga₂O₃ basis, in each case permitting limited internal dilution. Reported widths are downhole widths; the drill holes are vertical and true widths are not known and may differ materially. Individual high-grade sample values reported within broader intervals are disclosed where applicable and are not necessarily representative of the mineralization sampled.

Marketing Agreement

The Company announces that it has entered into a marketing agreement dated July 16, 2026 with AllPennyStocks.com Media Inc. subject to CSE approval.

Pursuant to its agreement with APS, APS will provide investor relations, advertising and marketing services to the Company for an initial four-month campaign commencing July 22, 2026, in consideration of an aggregate cash payment of CAD$63,567.22, plus applicable taxes. The Company has paid the consideration to APS. The APS Agreement does not provide for the issuance of any securities, options or other equity compensation by the Company to APS.

The services are expected to include investor-awareness, media-syndication and online marketing services, including the preparation and distribution of articles and related promotional content through APS’s website, newsletter and media-syndication network. The timing and content of the services will be coordinated with the Company’s news flow and disclosure schedule.

APS is located at 3-200 Memorial Ave., Suite 172, Orillia, Ontario L3V 5X6, Canada, and operates the website https://www.allpennystocks.com/. APS is an arm’s length party to the Company. To the Company’s knowledge, neither APS nor any of its directors, officers or principals owns any securities of the Company or has any right to acquire securities of the Company. APS has no prior relationship with the Company other than the APS Agreement.

APS was founded in 1999 and provides investor awareness and financial media services focused on the micro-cap market.

Data Verification

In accordance with NI 43-101, the Qualified Persons have verified the data underlying the scientific and technical information in this news release. Verification included review of laboratory certificates of analysis against the Company’s assay database, review of quality-control results, including blanks, field duplicates and certified reference materials, and review of drill-hole collar and survey information.

The data reviewed were found to be consistent with the Company’s assay database and adequate for the purpose of this disclosure. Verification was limited to data available as of the date of this news release; no independent verification sampling or re-assaying was undertaken, and the results have not been verified by, and do not constitute, a mineral resource estimate.

The Qualified Persons are not aware of any drilling, sampling or analytical factors that would materially affect the accuracy or reliability of the assay data disclosed, subject to the assumptions, limitations and cautionary statements described in this news release.

Exploration-Stage Property; No Mineral Resource or Economic Analysis

The Arapaima Project is an exploration-stage property. No mineral resource or mineral reserve has been estimated for the Project, and no preliminary economic assessment, pre-feasibility study, feasibility study or other economic analysis has been completed or is disclosed in this news release. Exploration results reported in this release have not been categorized as inferred, indicated or measured mineral resources, or as probable or proven mineral reserves. There is no certainty that further exploration will result in the delineation of a mineral resource or that any mineralization identified will prove to be economically or technically viable to extract.