Sparrowtech Resources, Inc.

Sparrowtech Resources, Inc.

March 27, 2008 16:15 ET

Sparrowtech Closes on Purchase Agreement for Mineral Claims on Nelles Property

TORONTO, ONTARIO--(Marketwire - March 27, 2008) - Sparrowtech Resources, Inc. ("Sparrowtech")(PINK SHEETS:SPMC) announced today that it has closed on matters pertaining to entering into the Agreement previously announced on March 17, 2008, to purchase 60% of the mineral rights on the Nelles Property from EMCO Corporation S.A. The Nelles Property is situated in the Kenora Mining District in close proximity to Rainy River Resources Ltd.

Sparrowtech President, Cornelia Volino stated, "We are pleased with this latest development for the Company." She further stated, "We will now focus our attention on assembling a geological team as we prepare to develop an exploration program on the Nelles Property for the upcoming Spring drilling season."

A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.

Contact Information

  • Sparrowtech Resources, Inc.
    Cornelia Volino
    (905) 773-4277
    (905) 773-4677 (FAX)