Spark Energy Minerals Provides Update on Sharing Agreement

Vancouver, British Columbia–(Newsfile Corp. – March 19, 2026) – Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) (“Spark” or the “Company”), an exploration company focused on the discovery of battery metals in Brazil’s prestigious Lithium Valley, at the request of the Canadian Securities Exchange, is providing an update on its sharing agreement dated March 31, 2025 (the “Sharing Agreement“) with Sorbie Bornholm LP (“SBLP“) previously described in the Company’s news releases of April 14, 2025 and May 7, 2025.

On April 25, 2025, the Company completed a non-brokered private placement in which it issued 27,636,112 units of the Company (“Units“) at a price of $0.072 per unit for gross proceeds of $1,989,800 (the “Offering“). Each Unit was comprised of one Common Share in the capital of the Company and one-half of one Common Share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.14 per Common Share for a period of thirty-six months from April 25, 2025.

A portion of the Units issued under the Offering, representing gross proceeds of $1,850,000 (the “Proceeds“), raised from SBLP and Sorbie Investments LLP (“SILP“) for notional amounts of $871,992 and $978,008, respectively, were held in escrow pursuant to the Sharing Agreement.

At closing of the Offering, the Company received an initial release of $160,000 (the “Initial Release“) and SBLP was paid a corporate finance fee of $111,000 through the issuance of 1,541,667 Units. Pursuant to the Sharing Agreement, the remainder of the Proceeds (being $1,690,000) would be released to the Company in 12 monthly settlements (each, a “Settlement“), measured against a benchmark price of $0.1182 (the “Benchmark Price“).

The actual cash paid out under each Settlement is determined based on a volume weighted average price for 20 trading days prior to each Settlement (“20 Day VWAP“). If the measured share price is above the Benchmark Price, the Company receives more than 100% of the expected Settlement amount. However, if the measured share price is below the Benchmark Price, the Company receives less than 100% of the Settlement payment. At the time of a Settlement, the 20 Day VWAP is equal to the Benchmark Price of $0.1182, the Company would receive a Settlement of $140,833.33. As a result, the Company may ultimately receive more or materially less than the original proceeds of $1,850,000. The final amount received will depend on the Company’s future share price, which is subject to market fluctuations and may vary over time. Accordingly, there is no assurance as to the total amount the Company will receive under the Sharing Agreement.

The following Settlements have been paid to the Company since the Initial Release:

As of today, no Units are held in escrow in connection with the Sharing Agreement and there are two Settlement payments remaining.

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.

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