SRI Sparton Resources Inc

Sparton Resources Inc. (SRI: TSX-V) (the “Company”) is pleased to announce positive early assay results from Eldorado Gold Corporation’s (“Eldorado”) winter drilling program at the Bruell gold project, east of Val D’Or, Québec.

Eldorado has completed 8,430 meters of oriented core drilling in 18 (eighteen) holes, in the initial 2023 program at Bruell. The work tested a variety of targets along a four-kilometer gold mineralization corridor extending from the Bruell 1, and 2 shafts to the west, eastwards beyond the Avocalon Shaft and past the “Sparton Zone”, located by the Company’s drilling in 2018, to the new “Penguin Anomaly”, located by Eldorado’s till and soil sampling program in 2020-21. The Penguin Anomaly is about 2 kilometers east of the Sparton Zone.

RESULTS

While core logging is still in progress and most assay data have not yet been received, visible gold was seen in core from Drill Hole BU- 23-14 at the Penguin Anomaly and priority analyses completed with the following results:

BU-23-14 (azimuth 003 deg, Dip -50 Deg,)	497.2-500.2, 3.0 meters @ 13.77 grams / tonne Au
Including:	497.2-497.7,  0.5 meters @ 73.92 grams/tonne Au
	499.7-500.2,  0.5 meters @ 7.95 grams/tonne Au

These results are from what appear to be north-east trending gently dipping quartz tourmaline veins not previously identified on the property, and Penguin is a new zone not previously identified in historical work at Bruell.

The widths reported above are core lengths and true widths of the zones will be determined by future structural analyses. Follow up drilling will be determined after Eldorado does a complete review of all results.

QUALITY CONTROL and QUALITY ASSURANCE

Exploration activities on the Bruell project have been conducted under the direct supervision of Eldorado Gold Québec employee Nathalie Prud'homme, P.Geo. from Eldorado Gold who is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and has verified and approved, the scientific and technical disclosure contained in this press release in relation to the Bruell project. Eldorado operates its exploration programs according to industry best practices and employs rigorous quality assurance and quality control procedures. All results are based on half-core samples of diamond drill core. Drill core samples were prepared and analyzed at MSA Labs in Val d’Or, Québec. All gold assays are based on Chrysos PhotonAssay(tm) technology of a 500 gm charge. Certified standard reference materials, field duplicates and blank samples were inserted regularly and were closely monitored to ensure the quality of the data.

LIST OF DRILL HOLES AND COORDINATES

The following table provides a complete list of drill holes completed in the program.

Survey	Azimuth	Dip	Length orig.	Length drilled 2023meters	UTM Nad83 Z18 - East	UTM Nad83 Z18 - North	UTM Nad83 Z18 – Elevation - Comments
BU-22-010	18	-50	549.00	147.00	332458	5332666	329 Extended 2022 hole
BU-22-011A	9	-50	594.32	147.00	332610	5332684	327 Extended 2022 hole
BU-23-012	343	-50		405.00	332711	5332874	324
BU-23-013	0	-50		527.93	332782	5332742	324
BU-23-014	3	-50		615.04	332651	5332569	326
BU-23-015	13	-50		699.00	332197	5332663	330
BU-23-016	23	-50		57.27	330435	5333391	331
BU-23-016A	25	-50		336.00	330435	5333392	331
BU-23-017	360	-50		429.00	328791	5332865	324
BU-23-018	360	-50		433.32	328786	5333072	323
BU-23-019	359	-55		343.80	329842	5332658	330
BU-23-020	348	-50		174.00	329966	5332600	331
BU-23-020A	351	-56		600.00	329966	5332600	331
BU-23-021	360	-50		525.00	330700	5332607	335
BU-23-022	3	-50		504.00	331228	5332593	334
BU-23-023	3	-50		507.00	331270	5332849	336
BU-23-024	163	-50		450.00	329660	5330590	350
BU-23-025	163	-50		474.00	329587	5330840	350
BU-23-026	13	-50		555.00	331017	5333065	330
BU-23-027	158	-50		501.00	330830	5331590	350
			Total	8430.36
Note: drillholes collars location are not final. Drill holes length could change for those not logged yet.

Sparton management are very encouraged by these new results at Bruell and appreciative of Eldorado Gold’s systematic evaluation of the Bruell property.

COMPANY NEW DIRECTOR

Sparton also announced today that Denise Cummings-Luckie has been appointed to the Company Board of Directors and will stand for election to its Board of Directors at the Company Annual General Meeting on June 27, 2023.

Ms. Cummings-Luckie is an accomplished lawyer and compliance professional with over 20 years of experience in private practice relate to company/commercial/corporate, mining and exploration law and general securities law. specializing in providing advisory services to listed companies, she has extensive experience in financial market compliance, data privacy/anti-spam legislation, IT security including information protection, data breaches, and ransomware attacks. She is fully versed in corporate governance. and has held past positions with several mining related organizations, including the Heenan Blaikie Global Mining Group, BMO Capital Markets, and National Bank Financial.

As part of the Global Mining Group at Heenan Blaikie, Ms. Cummings-Luckie has supported clientele as a corporate secretary and has provided pro bono work involving corporate social responsibility (CSR) issues for industry associations.

The Company welcomes its new member to the Board of Directors and will value Ms. Cummings-Luckies’ guidance as the Company moves forward to create value for its stakeholders.

Subject to regulatory approval, Ms. Cummings-Luckie will be awarded incentive options to purchase 300,000 Sparton common shares at a price of $0.05 per share expiring 3 years from the effective date of approval.

For more information contact:

A. Lee Barker, President and CEO Tel.: +1 416-366-3551 Fax: +1 416-366-7421 Mobile: +1 416-716-5762 E-mail: info@spartonres.ca

SPARTON RESOURCES INC.                Company website: www.spartonres.ca Listed: TSX Venture Exchange Trading Symbol: SRI

We Seek Safe Harbour

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