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Gold/Mining/Energy : Uranium Stocks -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (10619)	5/17/2007 10:35:37 AM
From: siempre33	Read Replies (1) \| Respond to of 30215

Sparton up 25% on this newz... China National Nuclear Corporation Agrees to Buy Uranium Production From Sparton's Non-Conventional Uranium Program in China Thu May 17, 9:37 AM Email Story IM Story Printable View TORONTO, ONTARIO--(CCNMatthews - May 17, 2007) - Sparton Resources Inc. (TSX VENTURE: SRI.V) (the "Company") reported today that the Company has received approval from the China National Nuclear Corporation ("CNNC") Comprehensive Planning Department to proceed with the advanced coal ash leaching tests commissioned with the Beijing Number 5 Testing Institute (see news release dated April 23, 2007). These tests are expected to recover small amounts of uranium oxide, and further CNNC has agreed to purchase any uranium oxide produced from these tests, as well as any future U3O8 production from the program at reasonable prices. These prices will reflect appropriate market conditions and will be negotiated between CNNC and the operating company organized for commercialization of production if the current tests are successful and lead to a production decision by the partners. This approval and accreditation for the program by the senior department of CNNC plus the purchase confirmation at realistic prices are milestone accomplishments for the joint Sparton-ARCN non conventional uranium recovery program in China which was begun just over one year ago. Samples of fly ash from the Xiaolongtang power station in Yunnan have now been sent to the Number 5 Institute in Beijing and the tests are being conducted under the process design supervision of Lyntek Inc., Sparton's process engineering consultants. Once these are completed, larger scale tests will be conducted at the Institute's licensed testing facility in central Yunnan. The sampling program in China continues to target new areas of high uranium waste ash, and the Company is also actively evaluating new opportunities for non conventional uranium recovery programs in a number of other countries. The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy or accuracy of the content of the information contained herein. Contacts A. Lee Barker Sparton Resources Inc. President and CEO (416) 366-3551 or Mobile: (416) 716-5762 (416) 366-7421 (FAX) Email: info@spartonres.ca Charles Ge Sparton Resources Inc. Director +86 10 8559 0034 (int'l) +86 10 8559 0034 (int'l) (FAX) Email: Charlesge@vip.163.com spartonres.ca