Sparton
Resources Inc. (TSX VENTURE: SRI) (the "Company")
reported today that its 90% owned China based subsidiary,
Beijing Sparton Mineral Resources Investment and Consulting
Co. Ltd. has received notification from the State Intellectual
Property Bureau of the Peoples Republic of China that it
has been granted a Patent for the "Extraction and Recovery
of Radioactive Uranium from Coal Ash". The Company will now
complete the final registration documents for the Patent
and is expected to receive the final Patent Certificate within
the next 30 days.
This
Patent represents a major milestone in Sparton's ongoing
program to begin uranium production from waste ash sources
in China. As a crucial development in the secondary uranium
recovery program it now means that the Company and its operating
partner ARCN, the China National Nuclear Corporation subsidiary,
are positioned with commercial protection from competition
in uranium production from waste coal ash material in PRC.
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NEW
JV OPERATING COMPANY
As
previously reported (see news release dated January
29, 2008), a new operating company, Yunnan Sparton
New Environ-Tech Consulting Co. Ltd. ("YSN") has been
formed and is structured as an environmental solutions
company which can utilize waste coal ash or other waste
industrial material for the extraction of valuable
materials including uranium. These activities are now
encouraged for foreign investment by the PRC Central
Government and are eligible for government and local
financial institution funding assistance.
YSN
will be responsible for all waste testing, development
and production of uranium from waste ash material in
Yunnan including the current programs evaluating the
Lincang, and Xiaolongtan waste ash deposits. |
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| LABORATORY PROGRAM FOR U
ANALYSES
AND LEACH TEST RECOVERY OF URANIUM
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DISCUSSION This
patent is a unique document and believed to be the first
of its kind ever granted to a foreign company in China for
the application of a specific application of process engineering
technology. It reinforces Sparton's unique position as
a pioneer in the utilization of readily available waste material
such as coal ash as a source of clean energy fuel for the
nuclear power industry.
Sparton
and its Directors and strategic partners invite all interested
parties to visit the Company Booth Number 2340 in the Investors
Exchange, at the PDAC International Convention and Trade
Show in the Metro Toronto Convention Centre South Building
from March 1-5, 2008 for complete updates on all the Company
activities.
Sparton's
international exploration and evaluation programs are being
carried out under the direct supervision of A. Lee Barker,
P. Eng., P Geol., the Company's President and CEO who is
a Qualified Person under National Instrument 43-101. |
