SPHERE RESOURCES INC. 
By
VANCOUVER, BRITISH COLUMBIA, April 27, 2012 - Sphere
Resources Inc. ("the Company"), listed on the NEX Board of
the TSX Venture Exchange (NEX - SPH.H), is pleased to make
the following announcement:
The Company along with its subsidiary Spartan Gold Ltd (OTCBB
- SPAG) and Mexivada Mining Corp. (MNV - TSX-V) is pleased to
announce that it has been modeling the "Railroad Fault" gold
target on its Poker Flats property in the Railroad-Bullion
sub-district of the Carlin Trend, Nevada. The Poker Flats
property adjoins the Railroad property of Gold Standard
Ventures Corp. ("GSV"), which recently reported a major new
discovery of high-grade Carlin- style gold
mineralization on its property, including a
newly reported core drilling intercept of
537 feet of 3.38 grams per tonne gold from its drill hole
RR12-1, which included a high-grade core of 22 feet assaying
16.4 g/t Au. Gold Standard made a favourable mention of the
Railroad Fault gold target, which is a sub-parallel analog to
the Rain Fault at the Rain-Saddle gold deposits of Newmont
and Premier Gold. Spartan Gold Ltd, has an option to earn a
75% interest in the Poker Flats property. The Company has a
53.48% controlling interest in Spartan Gold.
The Company believes the Railroad Fault system passes
directly through the Poker Flats
gold property, and is interpreted to comprise at least 3
sub-parallel fault strands, 1100 to 1750 metres in length
adjacent to Spartan/Sphere's property blocks. Gold Standard
has drilled several holes along these different faults, to
the west of the Poker Flats property.
Further drilling work by Gold Standard will provide
additional guidance on just how Spartan/Sphere should proceed
on its exploration programs on the Poker Flats property, to
reduce the inherent exploration risk.
Malcolm Stevens, Executive Chairman of Sphere Resources Inc.
commented "We are very pleased to see the continuing
intercepts of high grade gold at Gold Standard's Railroad
property a stone's throw away from the western boundary of
the Poker Flats property. This new modeling work will greater
define our drilling targets for greater success in finding a
major gold deposit. A great majority of the gold found in the
Carlin Trend has been located on and around the flanks of
similar gravity and magnetic anomalies. These individual
resource discoveries have ranged from less than 1 million
ounces to greater than 20 million ounces of contained gold."
Sphere Resources Inc. is focused on identifying and
appropriating exploration targets and other high quality
assets in major global mining camps with a particular
emphasis on precious
metals. It is currently involved in exploring for gold
mineralization in the Red Lake District of
Ontario and in Nevada, USA on the Carlin Trend.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sphere Resources Inc Malcolm L Stevens Phone:
+16479868940
Fax:
+61396023554 info@sphereresources.com
www.sphereresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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