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Sparton Resources Inc. Announces Shares for Debt Transaction and Grant of Options

TORONTO, ONTARIO–(Marketwired – April 11, 2017) – Sparton Resources Inc. (TSX VENTURE:SRI) (“Sparton” or the “Company“) wishes to announce that it has entered into debt settlement agreements (the “Agreements”) with five creditors (which include the current President and CFO of the Company), pursuant to which the Company agreed to issue an aggregate of 4,005,700 common shares (“Shares“) at a deemed price of $0.10 per share in order to settle certain obligations of the Company totalling $765,894.29 related to unpaid fees and expenses (excluding applicable HST), (the “Debt Settlement Transaction”).