SOURCE: Spartan Gold, Ltd.

Spartan Gold, Ltd.

April 13, 2011 06:00 ET

Spartan Gold Ltd. Announces Expansion of Poker Flats Project to 3,600 Acres in the Carlin Trend, Nevada

SCOTTSDALE, AZ--(Marketwire - Apr 13, 2011) - Spartan Gold Ltd. ("Spartan" or the "Company") (OTCBB: SPAG), a diversified U.S. based junior gold exploration company, is pleased to announce that it has completed a significant project expansion plan for the Poker Flats prospect located in Elko County, Nevada. In conjunction with its project partner Mexivada Mining Corporation, Spartan was able to secure and augment additional claim blocks to add to the original 25 claims defined and previously announced under the Option and Mining Claim Acquisition agreement dated December 22, 2010.

Spartan's team has placed additional location monuments on the ground locking up 67 new claims for this project and bringing the claim total to 92 claims for the Poker Flats property encompassing 1,840 acres. The geological team will complete all the claim filings with the Bureau of Land Management when all corner posts are placed to define the claim boundaries. Additionally, the company has completed two separate transactions with local land owners securing private land mineral rights and private land surface use rights adding a strategically important land acquisition of 1,760 acres to the Poker Flat footprint.

Spartan has closed escrow on the private land acquisition deals which expanded the total project footprint to an estimated 3,600 acres from the original 500 acres. The new claim blocks and private land rights now included in the Poker Flats project are surrounded by Newmont Mining Corporation's Emigrant project on the northern border and many other productive projects including Newmont's Rain-Tess Mine, Premier Gold Mines Limited's Saddle Mine and Gold Standard Ventures Corporations' Railroad project which are all in close proximity to Poker Flats in this area.

Spartan's team is now conducting geological mapping and analysis, in conjunction with geophysical mapping involving gravity and magnetic survey work. Once mapping and interpretations are completed, Spartan will proceed with the finalization of an updated NI 43-101 compliant technical report encompassing the entire property which includes the private land rights to better define future drill and exploration targets.

Mr. Malcolm Stevens, Spartan's CEO, stated, "The significant progress we have made on the Poker Flats project is nothing short of extraordinary. We are extremely pleased with the achievements over the last two months, a feat that is rarely matched in today's environment."

Mr. Stevens continued, "Expanding the claim blocks and project footprint for Poker Flats is a considerable achievement which takes a very important value step for the shareholders of the company. This adds tremendous potential to our exploration goals and improves the possibility of success exponentially."

About Spartan Gold Ltd.
Spartan Gold Ltd. (OTCBB: SPAG) is a publicly traded U.S. based junior gold exploration and mining company with gold exploration and development activity centered in both the Carlin-Rain and Round Mountain-Northumberland Gold Trends in Nevada. Spartan's Poker Flats prospect is located in the Carlin region and Round Mountain-Northumberland mining districts of Nevada are home to the Ziggurat project. The Company also has mining interests in the northeast region of Alabama in the historical Arbacoochee Mining District.

Poker Flats began with 500 acres in the Carlin region which is home to some of the world's leaders in the mining industry. Neighboring mining projects north and south of Poker Flats include Newmont Mining Corporation, Gold Standard Ventures Corporation, and Premier Gold Mines Limited. The company has recently expanded Poker Flats to 3,600 acres and now holds an option for 75% majority ownership of this project. The geological mapping process is under way, as well as the first phase interpretations of Poker Flats including an updated NI 43-101 report.

Spartan has completed a significant project expansion plan for the Ziggurat prospect located in Nevada comprising 6,800 acres; this expansion brings the claim total to 343. The Company holds an option for 75% majority ownership of this project as well. The geological mapping process is under way, as well as the first phase interpretations of Ziggurat including an updated NI 43-101 compliant technical report encompassing the entire property.

The Company is currently pursuing opportunities for several acquisition targets around the world and focusing on operational plans for current projects. Spartan has selected an international board of directors and advisors with over 90 years of combined experience in the exploration and development of global mining projects. Spartan's commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources.

Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Spartan Gold Ltd. predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, changes in metal prices, the ability to successfully fund any exploration activities, consumer and business consumption habits, the ability to fund operations and other factors over which Spartan Gold Ltd. has little or no control. Such forward-looking statements are made only as of the date of this release, and Spartan Gold Ltd. assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in Spartan Gold Ltd. Form 10-K for its fiscal year ended December 31, and other documents filed from time to time by Spartan Gold Ltd. with the Securities and Exchange Commission.

For more information about Spartan Gold Ltd:

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Contact Information

  • Please contact:
    Investor Relations:
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    Tel: 917-796-9926
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