Sphere Resources Inc.
TSX VENTURE : SPH.H

Sphere Resources Inc.

August 25, 2010 09:15 ET

Sphere Resources Inc. and Duncan Park Holdings Corporation Announce an Independent Technical 43-101 Report on the Dome Property in Red Lake, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2010) - Sphere Resources Inc. (TSX VENTURE:SPH.H) ("Sphere") is pleased to announce that Sphere and Duncan Park Holdings Corporation (TSX VENTURE:DPH.H) ("Duncan Park") have completed a review with respect to 16 unpatented mining claims covering 34 units in the Dome, Byshe and Hyeson Townships in Ontario's Red lake Gold District ("The Property"). The review was carried out by Caracle Creek International Consulting Inc. ("CCIC") who has prepared an Independent Technical Report compliant with National Instrument 43-101 ("NI43-101"). CCIC has prepared this Report to provide a summary of scientific and technical data on the Property and to make recommendations concerning future exploration and development. The full report is available on SEDAR and the TSX-V – NEX web sites.

A site visit was completed by Elisabeth Ronacher, Senior Geologist with CCIC on June 14th and 15th, 2010.

A large part of the Property overlies a quartz diorite intrusion, the Howey diorite. Howey diorite hosts several past-producing gold mines and numerous gold occurrences. Most of the gold in the Red Lake Camp is spatially associated with the unconformity between Balmer assemblage (mostly volcanic rocks) and the younger Confederation assemblage (mostly meta-sedimentary rocks). This unconformity is inferred to occur in the north western part of the claim group.

A large amount of historic exploration data exists on the Dome Property, the most recent being an IP survey completed in 2007. The depth extent of this survey was 50 m. This survey delineated an anomalous area but no follow-up drilling has been completed.

An induced polarization (IP) survey totalling 14.7 line kilometres was completed on the Property in June and July 2010 (Fig. 1). The current survey penetrated to a depth of 200 m. Final results of this survey were not available at the time of completing this report, however, preliminary pseudo sections indicate several areas of low resistivity in the survey area. CCIC concluded that the Property warrants further exploration and recommends that a soil gas hydrocarbon (SGH) survey be completed in the southern part of the Property in order to rank the potential IP anomalies. Contingent on the results of the deep IP and SGH surveys, a diamond drilling program is recommended to test these targets. Furthermore, CCIC concluded that the claims on water in the northern part of the Property have potential based on the historic exploration completed in this area. CCIC recommends exploring the northern claims with modern exploration techniques.

The Dome Property is located in one of the most productive mining camps in Ontario. Two gold occurrences are reported from the claim group. Gold typically occurs in the vicinity of the unconformity between Balmer assemblage and Confederation assemblage. The proximity of the Property to the Chukuni River deformation zone and the occurrences and discretionary occurrences on the Property give this Property good potential for a shear zone related gold deposit. The historic exploration on the Property, including trenching and drilling, suggests that further exploration on the Property is warranted.

CCIC concludes that based on geological information of the area and the site visit, the Dome Property is of merit as an early-stage exploration project and that the exploration program outlined in the 43-101 Report is warranted to advance the Dome Property.

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Revised Option Agreement between Sphere and Global

To correct errors in transposition of dates for annual consideration in respect of the Option Agreement between the parties. A new Option Agreement has been lodged on SEDAR.

About Sphere Resources Inc.

Sphere Resources Inc. is focused on identifying and appropriating exploration targets 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.

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.

Neither the NEX Board of the 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.

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