In a glass pitcher, mix pomegranate juice and sugar. Stir until sugar dissolves.
Add the lemon, orange slices and pomegranate seeds. Stir again.
When ready to serve, add the sparkling wine to the pitcher.
Put ice cubes and mint in glasses and pour the punch over ice.
Notes
Make virgin, or non-alcoholic sparkling punch. Substitute a non-alcoholic sparkling wine, or flavored sparkling (carbonated) water for the wine. You'll need to increase the sugar if you are using plain carbonated water. Or substitute ginger ale, Canada Dry, or 7-up for the wine and omit the sugar.
Try cranberry sparkling punch. Substitute cranberry juice for the pomegranate juice, and crushed cranberries for the arils.
Love sangria? Instead of sparkling wine, add your favorite red wine to the fruit/juice mixture.