SRI Sparton Resources Inc

Sparton Resources Inc. (TSX VENTURE:SRI) ("Sparton" or the "Company"), announced
today that its 74.2% percent owned British Virgin Island ("BVI") subsidiary
company, VanSpar Mining Inc. ("VanSpar") has executed an exclusive option
agreement (the "Agreement") for the acquisition of an 80% interest in Jiangxi
Rentian Mining Co. Ltd ("Rentian"). Rentian holds various rights and assets
including two mining licences and a new, 1,000 tonne per year (V2O5) capacity
vanadium processing plant in Jiangxi Province, China. 


AGREEMENT 

The terms of the agreement provide VanSpar with a 90 day exclusive option period
starting April 11, 2011, to complete the due diligence program, which includes
confirmation drilling by Sparton, currently underway at Rentian. To date, the
Rentian evaluation program has been producing very positive results. See Sparton
news releases dated December 2, 2010, March 10, 2011 and March 15, 2011. VanSpar
may exercise its right to acquire the 80% interest by making an initial payment
of 28.67 million RMB (approximately CAD$4.2 Million) and providing a program for
restructuring an agreement with the Rentian's creditors related to the settling
of Rentian's outstanding loan obligations.


The Peoples' Government of Xiushui County ("PGX"), where the Rentian assets are
located, is also a party to the Agreement. PGX has given VanSpar assurance that
it will coordinate the program for restructuring the Rentian assets and support
VanSpar in consolidating three other vanadium projects in the area, subject to
positive due diligence evaluations. 


DUE DILIGENCE PROGRAM

Following completion of a positive surface sampling program on the Rentian 1.6Sq
km Quankeng Mining Licence, four drills were mobilized and are currently testing
a 1.4 km strike length of the vanadium -copper - silver horizon, exposed along
the trend of the mineralized zone. Initial assay results are expected in
approximately two weeks and will be reported when available. Metallurgical
testing on the drill core for vanadium and copper - silver recoveries will begin
shortly. The initial 1,100 metre drilling program objectives are to confirm the
depth extensions of the surface exposures of vanadium mineralization and provide
initial indications of a minimum of 100,000 tonnes of contained V205, which will
require additional drilling to confirm.


As part of the due diligence program, VanSpar has also completed an audit of the
processing plant, and redesigned its flow sheet with VanSpar's proprietary
vanadium recovery technology that has recently received patent approval in
China. The Company believes this recently constructed plant can be upgraded and
made operational within less than one year and will have the capacity to produce
approximately 1,000 tonnes of V2O5 annually. It is fully permitted and in good
condition. 


VANADIUM MARKET

Currently the vanadium market is very strong with China being the world's
largest consumer of vanadium. Domestic demand requires over 30% of its needs to
be imported. There are no restrictions on foreign investment in vanadium
production in China. Major demand is for specialty steel alloys used in railway
components and other large volume, specialty high-strength steel applications.


There is also major growing demand for large specialty batteries (vanadium redox
batteries) for use in energy storage for wind farm and solar energy applications
that will continue to support future growth in demand for this specialty metal. 


VanSpar is in a unique position to be able to acquire a majority interest in
Rentian, begin early vanadium production from the upgraded Rentian plant, and
consolidate other vanadium projects in the Xiushui area. VanSpar also has the
right to acquire a 65% interest in the nearby Guojiaping vanadium project which
has already had initial drilling that has outlined a significant V2O5 deposit
which can be expanded with additional confirmatory drilling. (see Company news
releases dated August 3 and August 11, 2010).


By consolidating and developing the various Xiushui vanadium projects, Sparton's
objective is to have VanSpar become a world-class producer of vanadium
pentoxide. Company President, and VanSpar Chairman Lee Barker commented: "Over
the past 7 years, Sparton has established an award winning mining program in
China and systematically developed and grown its specialty metals operations. We
believe that our entry into the Vanadium sector will be an exciting
transformational step in our corporate development." 


Statements in this release that are forward-looking statements are subject to
various risks and uncertainties concerning the specific factors disclosed under
the heading "Risk Factors" in the Company's filings with Canadian securities
regulators. Such information contained herein represents management's best
judgment as of the date hereof based on information currently available. The
Company does not assume any obligation to update any forward-looking statements,
save and except as may be required by applicable securities laws.


This news release and the information contained herein does not constitute an
offer of securities for sale in the United States and securities may not be
offered or sold in the United States absent registration or exemption from
registration.


We Seek Safe Harbour.

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