TORONTO, Dec. 05, 2018 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV.SRI)
("Sparton" or the "Company") announced today that it has entered into, effective
December 5, 2018, an agreement for a private placement financing totalling $50,000 through the sale of 714,286 flow through shares
to one accredited investor.
Each Flow Through Common Share. is priced at $0.07. The placement is non brokered and no finders fees or
commissions are being paid.
Proceeds will be used for expenditures on the Company’s Canadian Exploration Programs including drilling
activities on the Bruell Project in the Val D’Or East Quebec gold area.
Resale of the shares is subject to normal restrictions under TSX Venture Exchange Policy and the transaction is
subject to final regulatory approval.
Bruell Drilling Program
Six drill holes are planned totalling approximately 1000 meters to follow up the gold mineralization located in
last seasons program. These will test the extensions at depth and laterally of the known zones and the new shear zone
mineralization found in the final hole (SP 18-03) drilled last April. See Sparton News Release dated May 28, 2018 for details. The
current program will involve vertical and lateral step out holes located 50 and 100 meters from hole SP 18-03. (See map posted on
Sparton website www.spartonres.ca).
For more information
contact:
A. Lee Barker, M.A Sc., P. Eng., P.Geol.
President and
CEO
Tel./Fax: 647-344-7734 or Mobile: 416-716-5762
Email: info@spartonres.ca Website: www.spartonres.ca
Neither 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.
Forward-Looking Statements
Information set forth in this news release involves forward-looking statements under applicable securities laws. The
forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all
such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking
statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as
expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and,
accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to
sell or solicitation of an offer to buy any of the securities described herein.
We Seek Safe Harbour
