Sparrowtech Signs Exclusive Option to Purchase Placer Gold Mining Property in the Mayo Mining Division of Yukon, Canada

    TORONTO, August 10 /CNW/ - Sparrowtech Resources, Inc. ("Sparrowtech")
(Pink Sheets:   SPMC) announced today that it has entered into an Exclusive
Option to purchase the assets and mineral rights of the Anderson Creek Mining
Property ("Anderson Creek"), in the Mayo Mining Division of Yukon, Canada from
IE-TEC Holdings Limited, IE-TEC Marketing Limited and Aurora Mines, Inc.

    The assets of Anderson Creek include 39 mineral claims, mining rights,
machinery and equipment. Placer gold exploration has been conducted on
Anderson Creek since 2000 utilizing a unique extraction technology. This
technology has earned Anderson Creek a Canadian Environment Inspection "A"
rating. For further detail on Anderson Creek visit:

    Sparrowtech President, Cornelia Volino stated, "Acquiring the Anderson
Creek Mining Property will enable Sparrowtech to utilize its network of
Canadian geologists, mining engineers and experts, which will ensure accurate
analysis and assessment, efficient management of operations, and controls."
Ms. Volino further stated, "We look forward to travelling to the Yukon to
visit Anderson Creek and begin our due diligence process in the near future."

    Sparrowtech also announced that the Company has terminated negotiations
with Overseas Mining, S.A. and will not be purchasing any interests in the
assets of the Peruvian Gold Mine, Andrea Gold II.

    A number of statements contained in this press release may be considered
to be forward-looking statements. These forward-looking statements involve a
number of risks and uncertainties including but not limited to: competitive
market conditions, successful integration of acquisitions, and the ability to
secure sources of financing. The actual results that Sparrowtech may achieve
could differ materially from any forward-looking statements due to such risks
and uncertainties.

For further information:

For further information: Sparrowtech Resources, Inc. Cornelia Volino,
905-773-4277 President Fax: 905-773-4677

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890