SEI Sintana Energy Inc

NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRES OR FOR DISSEMINATION IN THE
UNITED STATES


Sparton Resources Inc. (TSX VENTURE:SRI) (the "Company") is pleased to announce
that its subsidiary, Sparton Energy Inc. ("SEI") has executed a Letter Of Intent
(LOI) with a private investor, where under the investor will purchase a
debenture in SEI in the sum of C$1.7 million (the "Transaction"). The proceeds
of the debenture will be used to complete SEI's acquisition of an initial 51%
share interest in Linxing 306 Huajun Coal Co. Ltd. Lincang City (" Huajun "),
which owns the profitable Huajun coal and germanium producing operations in
Yunnan, China. This will result in SEI taking over control of the operations and
the cash flow at Huajun, which latter is currently estimated to be approximately
USD$50,000 per month based on recent concentrate sales. SEI has completed the
sourcing of experienced technical and financial staff to effect transition of
the operational and management changes.


Under the non binding terms of the LOI, the investor will receive monthly
revenue from the Huajun operations. As investor repayment options, SEI or the
investor may elect, at or 30 days prior to debenture maturity, to have the
principal of the debenture plus a 25% premium paid in cash, or to have the
principal of the debenture converted into shares of SEI at a 50% premium in
value, if SEI is in the process of becoming a publicly listed entity. In the
event that neither of these alternatives is chosen, the investor may elect to
hold a direct 34% share interest in Huajun.


The debenture will mature 21 months from closing the Transaction and is subject
to all applicable third party and regulatory approvals and such other terms as
are customary and mutually agreed to between SEI and the investor, according to
definitive documentation related thereto. The anticipated closing date of the
Transaction is July 15, 2009.


Closing of the Transaction is subject to various conditions precedent, including
receipt of all required regulatory, corporate and third party approvals.


RICHARD D. WILLIAMS JOINS SPARTON BOARD

The Company welcomes Richard D. Williams to Sparton's Board of Directors,
effective his election at the Company Annual and Special Meeting held on June
25, 2009. Mr. Williams is a senior level mining executive with broad, in-depth
experience in international and corporate and commercial affairs and securities
law. A multilingual member of the Law Society of Upper Canada, he is an active
director of several public resource companies and has been involved in
successful development, financing and administration of a number of junior
issuers. Sparton will benefit from his experience and connections in the
industry.



NEW INCENTIVE OPTIONS GRANTED

Pursuant to receiving shareholder approval of the Company Stock Option Plan at
the June 25, 2009 Annual and Special Meeting of Shareholders, incentive options
to purchase a total of 885,000 common shares of the Company have been granted to
Directors, Officers and Consultants of the Company on July 3, 2009. The options
are exercisable at $0.10 and will expire on July 3, 2014.


Sparton's international exploration, development, and evaluation programs are
being carried out under the direct supervision of A. Lee Barker, P. Eng., P
Geol., the Company's President and CEO who is a Qualified Person under National
Instrument 43-101.


This press release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Generally, forward-looking
statements can be identified by the use of forward- looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"planned", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may" ,"could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, closing of transactions,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking statements, including but not
limited to: risks related to exploration and development, the environment, local
and foreign government regulation, currency fluctuation infrastructure, capital
markets and additional funding requirements and the departure of key executives
as well as those factors discussed in the Company's documents filed on SEDAR
(www.sedar.com).


Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. The
Company does not undertake to update any forward-looking statements that are
contained herein, except in accordance with applicable securities laws. Further
information on Sparton Resources Inc. is available at www.sedar.com.


This news release and the information contained herein does not constitute an
offer of securities for sale in the United States and securities may not be
offered or sold in the United States absent registration or exemption from
registration.

Grafico Azioni Sintana Energy (TSXV:SEI)
Storico
Da Dic 2024 a Gen 2025

Grafico Azioni Sintana Energy (TSXV:SEI)
Storico
Da Gen 2024 a Gen 2025