New Risk • Jul 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.8m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.96m market cap, or US$4.89m). Announcement • Jun 20
Spark Energy Minerals Inc. Signs Protocol of Intentions with the Government of the State of Minas Gerais and Provides Reverse Circulation Drilling Update Spark Energy Minerals Inc. announced that it has entered into a Protocol of Intentions (a memorandum of understanding) with the Government of the State of Minas Gerais, Brazil, through the State Secretariat for Economic Development and Invest Minas, formalizing the State’s intention to support the advancement of the Company’s rare earth element, gallium and lithium critical minerals project in Brazil’s emerging Lithium Valley. Under the Protocol of Intentions, Invest Minas — the State’s official investment promotion agency — has expressed its commitment to support Spark across the development and operational phases of the project, including by facilitating engagement with State and municipal government bodies, assisting with the approvals and licensing required for the project, supporting the Company in its interactions with public, private and mixed-economy entities on infrastructure matters, and introducing and promoting engagement with potential suppliers. The signing ceremony took place at the 3rd Brazil Lithium & Critical Minerals Summit 2026 in Belo Horizonte, Minas Gerais. On behalf of the State, the Protocol of Intentions was signed by the State Secretary for Economic Development and the Chief Executive Officer of Invest Minas; and, on behalf of the Company, by the CEO & Chairman, and VP Exploration, Country Manager & Director. As a protocol of intentions, the agreement is non-binding and reflects the parties’ shared intention to work together as the project advances. The agreement reflects a growing alignment between Spark and the State of Minas Gerais and underscores the strong institutional engagement the Company continues to build at the local, regional and state levels. Spark Energy Minerals Inc. announced that its ongoing Reverse Circulation drilling program at the Arapaima Project is progressing well. The first batches of samples are in process, and initial results are anticipated imminently. Consistent with the Company’s disclosure practices, results will be released to the market once they have been received from the laboratory, validated through Spark’s quality assurance and quality control protocols, and interpreted by the Company’s technical team. Announcement • Apr 14
Spark Energy Minerals Inc., Annual General Meeting, Jun 10, 2026 Spark Energy Minerals Inc., Annual General Meeting, Jun 10, 2026. 
