SPH.H Sphere Resources

Sphere Resources Inc. ("the Company"), listed on the NEX Board of the TSX
Venture Exchange (TSX VENTURE:SPH.H), is pleased to make the following
announcement:


Spartan Gold Ltd ("Spartan") (OTCBB:SPAG), a subsidiary of the Company, has
signed a Letter of Engagement with Pickwick Capital Partners, LLC, to advise and
assist Spartan to raise sufficient funds for the exploration and drilling of its
Poker Flats and Ziggurat properties in the Carlin and Northumberland trends,
Nevada, USA. Spartan has an option with Mexivada Mining Corp. (TSX VENTURE:MNV)
to acquire an undivided 75% interest in both the Poker Flats and Ziggurat
properties. The Company owns a 53.46% interest in Spartan Gold Ltd and a 2.5%
NSR royalty on each of the properties.


Spartan's budgeted exploration expenditure for 2012/2013 totals $7,554,312 and
will be allocated between the two properties as follows: 




Poker Flats:          2012 - $1,206,553
                      2013 - $2,420,975
Total:                       $3,627,528
                                       
Ziggurat:             2012 - $1,038,240
                      2013 - $2,888,544
Total:                       $3,926,784



Malcolm Stevens, executive chairman of Sphere Resources Inc commented, "We are
very pleased to be involved with Pickwick Capital Partners in assisting us with
the raising of capital to explore the properties. We are closely following the
drilling results of Gold Standard Venture's Railroad Property a short distance
from the Poker Flats property boundary after they announced on February 22, 2012
that Hole RR11-16 intersected 56.4m of 4.26 g/tonne gold from 169.2m to 225.6m.
Our main focus at Poker Flats is to find possible extension of their gold
discoveries". 


Richard Redfern, president and CEO of Mexivada Mining stated, "We have a superb
and competent team of individuals at Spartan Gold and Sphere Resources to
advance both the Poker Flats and Ziggurat properties, and are confident their
efforts will lead to a successful outcome at these strategically positioned
properties". 


Francis Calcagno, Managing Director of Pickwick Capital Partners LLC said, "We
are pleased to be working with such a highly professional group and representing
a company with considerable potential".


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 in Nevada, USA
on the Carlin Trend.


About Pickwick Capital Partners LLC

Pickwick Capital Partners, LLC is a Registered Broker Dealer and Member of FINRA
and SIPC. Pickwick acts as Strategic Advisors and Investment Bankers for their
clients. In these capacities they offer a full range of Business Development
services and a complete array of transactional services for emerging and middle
market corporate clients.


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.

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