Sparrowtech Resources, Inc.

Sparrowtech Resources, Inc.

March 17, 2008 12:23 ET

Sparrowtech Signs Purchase Agreement for Mineral Claims on Rainy River Mining District Property

TORONTO, ONTARIO--(Marketwire - March 17, 2008) - Sparrowtech Resources Inc. ("Sparrowtech") (PINK SHEETS:SPMC) announced today that it has entered into an Agreement to purchase 60% of the mineral rights of the Nelles Property in the Rainy River Mining District from EMCO Corporation S.A.

The Nelles Property consists of five mining claims totaling approximately forty-eight units located within the Rainy River Mining District in Nelles Township, North of Kenora, Ontario, Canada.

Sparrowtech President, Cornelia Volino stated, "Sparrowtech looks forward to utilizing our consulting geologists, mining engineers, experts and advisors to complete our evaluation and determine the feasibility for further development of to the Nelles Property claims."

Sparrowtech also announced that the Company has terminated relations with IE-TEC Holdings Limited, IE-TEC Marketing Limited and Aurora Mines, Inc and will not be purchasing any interests in the assets or mineral rights of the Anderson Creek Mining Property in Yukon, Canada.

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 integrations 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 risks and uncertainties.

Contact Information

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