Sparton Announces Strategic Cooperation Agreement With Lafarge Shui On Cement (China)
TORONTO, ONTARIO -- (Marketwire) -- 12/19/11 -- Sparton Resources Inc. (TSX VENTURE: SRI) (the 'Company'), announced today that its subsidiary company, Yunnan Sparton Environtech Co. Ltd. ('YSET') has executed a Letter of Intent and cooperation agreement with Lafarge Shui On (Beijing) Technical Services Co., Ltd ('LSOC'). LSOC is a Chinese based subsidiary of Lafarge SA, a world leader in building materials and the world's number one cement manufacturer.
Lafarge may use waste coal ash as an additive in its cement manufacturing process. The company has a number of operations in China, including 18 operating cement plants and grinding stations and one cement plant under construction in Yunnan Province. Both parties envision significant positive environmental benefits from this joint program.
Under the terms of the agreement, YSET will identify deposits of potentially recyclable waste with LSOC evaluating their suitability for use within the cement-making process. YSET's initial waste ash reclamation work is at a pilot plant stage and has focussed on the Lincang area of Yunnan.
Company President, Lee Barker stated that: 'Sparton is very pleased to be associated in this program with the Lafarge organization. Lafarge's strong position in Yunnan, and its support for the recycling and waste cleanup initiatives developed by YSET, will be extremely positive contributions to the program going forward.'
Sparton's international exploration, development, production 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.
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.
Sparton Resources Inc.
A. Lee Barker
President and CEO
416-366-3551 or Mobile: 416-716-5762
Sparton Resources Inc.
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