Sphere Resources Inc.

Sphere Resources Inc.

December 15, 2011 16:20 ET

Sphere Resources Files Updated NI 43-101 Report on the Poker Flats Property Nevada, USA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2011) - Sphere Resources Inc. NEX Board of the TSX Venture Exchange (TSX VENTURE:SPH.H) www.sphereresources.com is pleased to make the following announcement:

Sphere Resources Inc. filed a technical report titled "Spartan Gold Ltd., Poker Flats Gold Project, Elko County, Nevada, USA, NI 43-101 Updated Technical Report" with an effective date of April 30, 2011 and an issue date of November 22, 2011 (the "Technical Report") on SEDAR on December 13, 2011. The Technical Report was prepared for Spartan Gold Ltd, which became a majority-owned subsidiary of Sphere Resources Inc. in October 2011.

The Poker Flats property is located approximately 20 miles south-southwest of Elko, Nevada, and comprise four non-contiguous blocks containing 92 unpatented lode mining claims, covering approximately 3600 acres. Additionally, Spartan has completed two separate transactions with local land owners securing private land and mineral rights and private land surface rights adding a strategically important land grab to this project footprint. All of the claims are within the Carlin Gold Trend ("Carlin Trend") mining district in Elko County. The technical report was prepared by a qualified person, Allen David V. Heyl, C.P.G. According to the technical report, the recommended exploration focus at Poker Flats will be on Carlin-type mineralization, which typically occurs as finely dispersed sub-micron gold and some silver. The property is in the vicinity of Newmont's large Rain and Emigrant mines, Premier Gold's Saddle gold deposit and Gold Standard Ventures Corp.´s Railroad-Pinon gold mines. Newmont´s Emigrant mine is under development as reported earlier this year. The previous geophysical and geological interpretations indicate that the Poker Flats property has favorable characteristics for Carlin-type mineralization.

The Poker Flats project is situated along the Carlin Trend in southern Elko County. The Carlin Trend is a north-northwest striking structural zone of Oligocene to Miocene age, which hosts numerous gold bearing deposits and mines. The gold-silver deposits of the Carlin Trend are primarily of a distinctive style known as "Carlin-type" sediment hosted gold-silver deposits, comprised both of disseminated low grade mineralization and structurally controlled high grade mineralization.

Significant additional drilling, geophysical and geochemical exploration activities at the Poker Flats property are planned by Spartan under a two-phase exploration program. Since the property is situated adjacent to other current gold mining projects such as Railroad-Pinon, and the mineralized host rocks appear similar to Newmont's Rain Mine deposit, the Poker Flats property is considered to justify additional exploration expenditure.

In the 1990s Newmont's Rain gold mine was expanded to an underground operation, and the Tess deposit discovered adjacent to the northwest at depth. Premier Gold's Saddle gold deposit was found at 550 m (1,700 ft) depth adjacent to the Tess gold deposit to the northwest of Rain. Premier Gold recently announced the intersection of the highest gold grade yet at their Saddle mine: www.premiergoldmines.com.

The Poker Flats property is situated about 3 miles from Premier, at the intersection of northwest and northeast trending regional arsenic anomalies. It is also bounded by Gold Standard Ventures Corp.´s Railroad deposit on the Western border, which recently announced an intersection of high-grade feeder structures for the unusually extensive and thick sections of low-grade gold mineralization discovered on the property: www.goldstandardv.com.

The northwest-trending anomaly extends through the Poker Flats property area to the Rain and Emigrant Springs deposits to the north-northwest, and continues through the major gold-silver deposits of the Carlin Trend.

Geophysical interpretations suggest that the Poker Flats property sits astride the southern extension of the north-south trending Emigrant Springs Fault, and a Rain Fault parallel northwest structure which intersects the Emigrant Springs Fault extension in the western area of the Property.

Gravity studies show that the Poker Flats property is bounded on the northern and western sides by gravity highs often associated with Carlin-type deposits, with a gravity high trending south along the eastern portion of the Property. Ground Magnetics studies show a strong northwest fabric trending through the center of the Property and a subtle northerly trend aligned with the supposed Emigrant Springs Fault.

About Sphere Resources Inc:

Sphere Resources Inc. is focused on identifying and appropriating exploration targets and other high quality assets 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 and the Carlin Gold Trend, Nevada.

About Spartan Gold Ltd:

Spartan Gold Ltd. is a publicly traded U.S. based junior gold exploration and mining company that is currently pursuing opportunities in the Carlin Gold Trend, Nevada. The directors, management and advisers of Spartan Gold have over 90 years of combined experience in the exploration and development of global mining projects.

Spartan's reported commitment to asset growth and increased shareholder value is expected to be sustained by the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources. Spartan has selected an international board of directors experienced in undertaking exploration, development and funding of numerous energy and minerals projects around the world. The company is currently exploring additional acquisition opportunities.

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 and Spartan´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 and Spartan´s business, including risks inherent in mineral exploration and development and necessary financing. As a result, actual results may vary materially from those described in the forward-looking statements.

Neither the TSX Board of the TSX Venture Exchange nor its Regulatory 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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