Sparton Resources Secures Strategic Silver‑Mining Option with Glen Eagle

Sparton Resources Inc. (TSXV:SRI) has entered a definitive option and joint‑venture agreement with Glen Eagle Resources Inc. (TSXV:GER) to acquire a 100 % interest in the historically producing Morrison Silver Mine property near Gowganda, Ontario. The deal, signed on 1 September 2026, gives Glen Eagle the exclusive right to earn up to a 70 % stake in the Morrison Property over a three‑year option period, subject to specified cash payments, share‑cost compensation and the funding of a $500,000 exploration program.

The agreement outlines a staged earn‑in schedule:

  • Year 1 – $150,000 work commitment (firm commitment)
  • Year 2 – $175,000 additional commitment
  • Year 3 – $175,000 final commitment

Upon fulfillment of the earn‑in conditions, the parties will form a joint venture with Glen Eagle holding 70 % and Sparton 30 % of the Morrison Property. The transaction is arm‑length, carries no finder’s fee, and is subject to TSX Venture Exchange approval.

In tandem with the agreement, Sparton announced the appointment of Director Jamal Amin as Vice President, Corporate Development. Mr. Amin will collaborate with President and CEO A. Lee Barker to advance the Morrison Project and oversee broader corporate development initiatives.

Sparton’s diversified portfolio—encompassing germanium, coal, vanadium, gold and uranium recovery—positions it to capitalize on the Morrison Property’s proven silver output. The partnership with Glen Eagle, a company with a strong track record in silver exploration and production, augments Sparton’s resource base and enhances its market standing.

With the Morrison option secured, Sparton’s market capitalization of approximately 3.6 million CAD and its recent trading range (52‑week low $0.015 to high $0.04) reflect a company poised for accelerated growth. The strategic alignment with Glen Eagle is expected to unlock significant value for shareholders and reinforce Sparton’s reputation as a forward‑looking, resource‑focused enterprise.