Spark Energy Minerals Inc. has entered into a mineral claims purchase agreement dated August 10, 2023, with Talisman Venture Partners Ltd. pursuant to which the Company will acquire from Talisman a 100% ownership interest in 9 (nine) exploration permits, known as the "CE Property", comprising approximately 16,245.60 hectares (16.2k ha) of surface area in Ceara State, Brazil. Pursuant to the terms of the agreement and in order to complete the transaction, Spark shall pay to Talisman: CAD 150,000 on closing of the agreement; Issue Talisman 4,500,000 shares of the Company; Talisman shall retain a 1% N.S.R. The Company can purchase 0.5 % from Talisman at any time for $1,000,000. Completion of the transaction is subject to customary closing conditions, including, among others, the Company being satisfied with the results of its due diligence review.

The Company has 30 calendar days from the date of execution of the agreement to complete. The transaction is arm's length, and the Company is not paying any finders' fees in connection therewith.