Sisson North Tungsten Project

The Sisson North Tungsten Project is located in New Brunswick directly bordering Northcliff Resources Ltd.’s Sisson Tungsten Mine consisting of 9,780 contagious acres prospective for tungsten. On August 7, 2025, Northcliff Resources Ltd. announced they secured approximately $29 million CAD in combined funding from the U.S. Department of Defense and the Canadian Government to advance their project.

James Nelson, President of Spearmint stated, “Critical metals, including tungsten and antimony, as well as rare earth minerals have once again been thrust into the global spotlight as the dispute between USA and China for these have escalated. The combination of China’s tightening control over tungsten production and the growing demand for this critical material has made tungsten even more valuable on the global market. The junior markets continue to be very buoyant for tungsten evidenced by the strong movement of companies such as American Tungsten Corp., TUNG, whose shares have risen from $0.03 cents in October 2024 to a high of $4.74 on October 10, 2025, showing the strong investor demand for tungsten related companies.” Mr. Nelson went on to say, “In addition, with gold prices near all-time highs, the company is excited to launch a maiden drill program on the Esmeralda County Gold Project in Nevada in 2025. The company will be very active for the remainer of 2025 and beyond, and management is very optimistic about the short and long-term growth prospects.”

As of February, 2025, the United States, under President Donald Trump, has implemented significant tariffs on imports from China, including a 10-per-cent duty on nearly all Chinese goods, effective Feb. 4, 2025. In response, China has enacted countermeasures, notably imposing export controls on critical minerals, including tungsten, which is essential for various industries such as aerospace, electronics and defence.

Tungsten has always been a valuable material due to its unique properties, such as its extremely high melting point, strength and durability. It is used in a wide variety of applications, including manufacturing hard metals, electronics and lightbulb filaments as well as in military and aerospace technologies. However, China’s actions regarding tungsten have made it even more valuable for several reasons:

• Supply control: China is one of the world’s largest producers and exporters of tungsten, controlling a significant portion of global tungsten reserves. By tightening its production and export quotas, China reduces the global supply of tungsten. This limited supply increases the material’s value, as demand remains high but availability becomes constrained.
• Increased demand: As industries evolve, the demand for tungsten in high-technology applications — such as electronics, energy production and military hardware — has risen. The scarcity of tungsten, due to China’s restrictions, further drives up its market price as industries compete for access to this crucial resource.
• Strategic resource: Tungsten is a critical material for many industries, particularly in defence and aerospace sectors. China’s control over the supply means it can influence the global market and, in some cases, potentially use tungsten as a strategic lever in geopolitical relations, adding to its perceived value.

In short, the combination of China’s tightening control over tungsten production and the growing demand for this critical material has made tungsten even more valuable on the global market.

Recently, China banned exports of critical minerals, including antimony, to the United States. As trade tensions escalate between the United States and China, this move clearly emphasizes the urgent need for Western nations to secure reliable, long-term sources of these critical minerals, which are now at the forefront of the global supply chain crisis.

Management cautions that past results or discoveries on properties in proximity to Adelayde may not necessarily be indicative to the presence of mineralization on the Company’s properties. Mr. Frank Bain, P.Geo., a director of Adelayde and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this website.