Sphere Resources Group Achieves 51% Interest in Poker Flats Property, Carlin Trend, Nevada and Updates Comments on Financing - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

Sphere Resources Group Achieves 51% Interest in Poker Flats Property, Carlin Trend, Nevada and Updates Comments on Financing

Posted: Updated:

VANCOUVER, BRITISH COLUMBIA / February 18, 2014 / ACCESSWIRE / Sphere Resources Inc. (‘Sphere” or the “Company”), listed on the NEX Board of the TSX Venture Exchange (NEX – SPH.H), is pleased to make the following announcement:

As of December 20, 2013 (the third anniversary date), Spartan Gold Ltd. (“Spartan”) (OTCBB:SPAG) has incurred $513,118 of exploration and property expenditures on Poker Flats, thus earning the initial 51% interest.

Spartan has completed the first round funding by way of a Private Placement for $250,000 at ten cents per share in late November 2013 and continues negotiating with select and knowledgeable regional investors to take up a further Private Placement to participate in funding the Phase 1 drilling program and corporate overheads for approximately $1 million. See news release dated October 21, 2013.

The Company has been advised by its New York advisors that syndicated insurance of the Debt Instrument are still to be finalised. The Bond will only proceed if the insurance is completed which seems unlikely given the lapse of time.

 

About Sphere Resources Inc.

Sphere Resources Inc. is focused on identifying and appropriating exploration targets and other high quality assets in major global mining camps with a particular emphasis on precious metals. It is currently involved in exploring for gold mineralization in the Red Lake District of Ontario and in Nevada, USA on the Carlin Trend.

 

On behalf of Sphere Resources Inc

Malcolm L Stevens,
Executive Chairman and President

Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute forward looking statements. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

 

FOR FURTHER INFORMATION PLEASE CONTACT:
Sphere Resources Inc
Malcolm L Stevens
Phone: +16232077784
mstevens@sphereresources.com
www.sphereresources.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.

ReleaseID: 412034

  • Local NewsMore>>

  • WACO

    Emotions run high during intense testimony in murder trial

    Emotions run high during intense testimony in murder trial

    Wednesday, April 23 2014 8:02 PM EDT2014-04-24 00:02:26 GMT
    Some hardball questioning by the prosecution during the sentencing phase of Carnell Petetan Jr. trial led to some near fireworks by the defense. Petetan, who faces the death penalty for murdering his wife, sat stoic for most of the day as witnesses came up to testify against him, but that all changed as his mother spoke Wednesday afternoon. After the prosecution rested just before 11 a.m., it was the defense's turn to call up witnesses. Petetan's attorney's stressed to the jury that they were...More >>
    Some hardball questioning by the prosecution during the sentencing phase of Carnell Petetan Jr. trial led to some near fireworks by the defense. Petetan, who faces the death penalty for murdering his wife, sat stoic for most of the day as witnesses came up to testify against him, but that all changed as his mother spoke Wednesday afternoon. After the prosecution rested just before 11 a.m., it was the defense's turn to call up witnesses. Petetan's attorney's stressed to the jury that they were...More >>
  • Political group formed to help pass Robinson ISD school bond

    Political group formed to help pass Robinson ISD school bond

    Wednesday, April 23 2014 6:50 PM EDT2014-04-23 22:50:48 GMT
    With the May elections just around the corner Robinson ISD's bond is back on the ballot. The district is seeking nearly $20 million to build a new intermediate to replace the 50 year-old building and make some repairs to the elementary school.More >>
    With the May elections just around the corner Robinson ISD's bond is back on the ballot. The district is seeking nearly $20 million to build a new intermediate to replace the 50 year-old building and make some repairs to the elementary school.More >>
  • WACO

    Police seized marijuana, arrest one after searching pickup

    Police seized marijuana, arrest one after searching pickup

    Wednesday, April 23 2014 3:56 PM EDT2014-04-23 19:56:53 GMT
    McGregor police arrested a man and seized $800 worth of marijuana as they served a search warrant on a pickup truck in the parking lot of a local billiard parlor Tuesday afternoon.More >>
    McGregor police arrested a man and seized $800 worth of marijuana as they served a search warrant on a pickup truck in the parking lot of a local billiard parlor Tuesday afternoon.More >>
Powered by WorldNow

News Channel 25 KXXV-TV
P.O. Box 2522
Waco, TX 76702

Phone Numbers:
Main: 254-754-2525
Tip Line: 254-757-2525

Links
Contact Us
KXXV Employment Opportunites
FCC Filings
Advertise on KXXV

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KXXV. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.