VANCOUVER, BRITISH 
, Aug 25, 2010 (MARKETWIRE via COMTEX News Network) --
SphereResources Inc. (TSX VENTURE: SPH.H) ("Sphere") is pleased to announcethat Sphere and Duncan Park Holdings Corporation (TSX VENTURE: DPH.H)("Duncan Park") have completed a review with respect to 16 unpatentedmining claims covering 34 units in the Dome, Byshe and Hyeson Townshipsin Red lake Gold District ("The Property"). The review was carried out byCaracle Creek International Consulting Inc. ("CCIC") who has preparedan Independent Technical Report compliant with National Instrument43-101 ("NI43-101"). CCIC has prepared this Report to provide a summaryof scientific and technical data on the Property and to makerecommendations concerning future exploration and development. The fullreport is available on SEDAR and the TSX-V - NEX web sites.
A site visit was completed by Elisabeth Ronacher, Senior Geologist with CCIC on June 14th and 15th, 2010.
Alarge part of the Property overlies a quartz diorite intrusion, theHowey diorite. Howey diorite hosts several past-producing gold minesand numerous gold occurrences. Most of the gold in the Red Lake Camp isspatially associated with the unconformity between Balmer assemblage(mostly volcanic rocks) and the younger Confederation assemblage(mostly meta-sedimentary rocks). This unconformity is inferred to occurin the north western part of the claim group.
A large amount ofhistoric exploration data exists on the Dome Property, the most recentbeing an IP survey completed in 2007. The depth extent of this surveywas 50 m. This survey delineated an anomalous area but no follow-updrilling has been completed.
An induced polarization (IP)survey totalling 14.7 line kilometres was completed on the Property inJune and July 2010 (Fig. 1). The current survey penetrated to a depthof 200 m. Final results of this survey were not available at the timeof completing this report, however, preliminary pseudo sectionsindicate several areas of low resistivity in the survey area. CCICconcluded that the Property warrants further exploration and recommendsthat a soil gas hydrocarbon (SGH) survey be completed in the southernpart of the Property in order to rank the potential IP anomalies.Contingent on the results of the deep IP and SGH surveys, a diamonddrilling program is recommended to test these targets. Furthermore,CCIC concluded that the claims on water in the northern part of theProperty have potential based on the historic exploration completed inthis area. CCIC recommends exploring the northern claims with modernexploration techniques.
The Dome Property is located in one ofthe most productive mining camps in Ontario. Two gold occurrences arereported from the claim group. Gold typically occurs in the vicinity ofthe unconformity between Balmer assemblage and Confederationassemblage. The proximity of the Property to the Chukuni Riverdeformation zone and the occurrences and discretionary occurrences onthe Property give this Property good potential for a shear zone relatedgold deposit. The historic exploration on the Property, includingtrenching and drilling, suggests that further exploration on theProperty is warranted.
CCIC concludes that based on geologicalinformation of the area and the site visit, the Dome Property is ofmerit as an early-stage exploration project and that the explorationprogram outlined in the 43-101 Report is warranted to advance the DomeProperty.
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Revised Option Agreement between Sphere and Global
Tocorrect errors in transposition of dates for annual consideration inrespect of the Option Agreement between the parties. A new OptionAgreement has been lodged on SEDAR.
About Sphere Resources Inc.
SphereResources Inc. is focused on identifying and appropriating explorationtargets in major global mining camps with a particular emphasis onprecious metals. It is currently involved in exploring for goldmineralization in the Red Lake District of Ontario.
On behalf of Sphere Resources Inc.
Malcolm L Stevens, Executive Chairman and President
Statementsin this press release other than purely historical information,including statements relating to the Company's future plans andobjectives or expected results, constitute forward-looking .Forward-looking statements are based on numerous assumptions and aresubject to all of the risks and uncertainties inherent in the Company'sbusiness, including risks inherent in mineral exploration anddevelopment. As a result, actual results may vary materially from thosedescribed in the forward-looking statements.
Neither the NEXBoard of the TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
Contacts: Sphere Resources Inc. Malcolm L Stevens +34610616548 +61396023554 (FAX) mls@canaustra.com.au
SOURCE: Sphere Resources Inc.
mailto:mls@canaustra.com.au
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