Spartan Metals Corp. Director Burton Egger Expands Holdings with 1.4 M‑Share Acquisition

On February 24 2026, Spartan Metals Corp. (TSX‑V: W, OTCQB: SPRMF, FSE: J03) announced that Burton Egger, a member of the Company’s Board of Directors, executed a purchase of 1,400,000 common shares. The transaction, disclosed via an early‑warning press release, was completed through the exercise of 1,400,000 share‑purchase warrants at a price of $0.075 per share.

Impact on Ownership Concentration

Prior to the acquisition, Mr. Egger controlled or held rights to 7,222,341 common shares, 1,604,166 warrants, and 50,000 restricted share units—approximately 18.3 % of issued and outstanding shares on an undiluted basis and 21.56 % on a partially diluted basis. After acquiring the additional warrants, his beneficial ownership increases to 8,622,341 shares, 204,166 warrants, and 50,000 RSUs. This translates to roughly 21.7 % of the Company’s shares on an undiluted basis and remains unchanged on a partially diluted basis, assuming no other convertible securities are exercised or converted.

Strategic Significance

Mr. Egger’s expanded stake signals confidence in Spartan Metals’ growth trajectory and its portfolio of critical‑minerals projects. The Company’s flagship Eagle Project in eastern Nevada hosts one of the highest‑grade historic tungsten resources in the United States, alongside significant undeveloped deposits of rubidium, antimony, bismuth, indium, and assorted base and precious metals. By reinforcing his position, Mr. Egger aligns his interests more closely with those of other shareholders and may facilitate future capital‑raising or strategic partnership initiatives.

Market Context

Spartan Metals’ share price has fluctuated from a 52‑week low of $0.06 (March 25 2025) to a high of $0.85 (October 13 2025). The recent acquisition occurs at a valuation near the lower end of this range, offering a potentially attractive entry point for investors anticipating a rebound in demand for strategic defense minerals.

Forward‑Looking Outlook

With its focus on well‑established mining jurisdictions in the Western United States, Spartan Metals is positioned to capitalize on the increasing global emphasis on supply‑chain resilience for critical minerals. The concentration of board‑level ownership, as exemplified by Mr. Egger’s purchase, may enhance governance stability and signal to the market that the Company’s leadership remains committed to unlocking value from its resource base. Investors should monitor subsequent disclosures for any further acquisitions, convertible‑security exercises, or changes in the Company’s exploration and development plans.