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March 6, 2018
WORK PROGRAM APPROVED FOR YAO WAY
TORONTO, ONTARIO March 6, 2018. Sparton Resources Inc. (TSXV.SRI) ("Sparton" or the "Company") is pleased to announce that a work program has been approved for the advanced evaluation of the vanadium mineralization in the 16 square km. Yao Wan (“YW”) Polymetallic Exploration License, in the Zhen’an area of Shaanxi Province, China. See Sparton News Release dated January 2, 2018.
Work Program Approved WMD, the owner of the YW License has approved the proposed work program submitted earlier by VStar Industries, the Company’s 90% owned subsidiary recently incorporated In the British Virgin Islands with a mandate to deal with the evaluation and development of vanadium related opportunities available to Sparton. The initial part of the work program will include advance metallurgical testing of YW drill core for vanadium recovery tests. These will incorporate the technology patented by the Company in China for recovery of vanadium from stone coal mineralization similar to that at YW and will incorporate any new developments in this type of technology developed since the patents were granted in 2012-2013. A detailed shallow drilling program of about 2000 meters is planned for the near surface vanadium mineralized zone with Historical Estimates provided by the WMD database, indicating 5,433,900 tonnes grading 1.02% V2O5 and containing 75,632 tonnes of V2O5. This work will permit conceptual open pit design and additional material for metallurgical testing. Engineering studies will be done for process plant site location and conceptual underground mining as well. Initial environmental issues will be reviewed as results of these studies are assessed. The full program is budgeted at approximately RMB 4.4 million or $850,000 CAD and is expected to begin in Q2 2018. A. L. Barker M.A.Sc., P.Eng., P.Geol. the Company CEO, is the Qualified Person under NI 43-101 for the technical information in this news release. Mr. Barker has visited the YW area, reviewed all available data for the YW License, believes the “Historical Estimates” to be reliable, and has approved the contents of this news release. For More Information Please Contact:
Email: info@spartonres.ca Cautionary Statement It should be noted that the vanadium endowments quoted here are considered “Historical Estimates” under NI 43 -101 and include estimates from data available to VStar from work done by a PRC Licensed Exploration Organization engaged by the exploration license owner WMD, for various work programs between 2006 and 2015. The data are believed to be reliable and were generated using recognized calculation procedures and analytical techniques. The “Historical Estimates” are related to Chinese category 332 and 333 level resource reporting standards. More work needs to be done to upgrade or verify these “Historical Estimates” into current resource categories. While VStar has the right to acquire a 70% equity interest in the Yao Wan exploration license and project (and through it the Company a net 56% interest), the Company recognizes that sufficient work has not been yet done to classify the “Historical Estimates” as current mineral resources or mineral reserves. As such Sparton and VStar are not treating the “Historical Estimates” as current mineral resources or mineral reserves or implying any economic value to them. Insufficient metallurgical testing has been completed on the YW mineralization to understand recoverability of the vanadium from these deposits, and cost estimates for open cast or underground mining have not yet been made by an independent organization. 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.
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