TORONTO, ONTARIO--(MARKET WIRE)--Jan 14, 2008 -- Sparton Resources Inc. (CDNX:SRI.V - News) (the "Company") announced today that it has completed a non-brokered private placement financing. The Company issued an aggregate of 4,100,000 units at a subscription price of $0.25 per unit, for aggregate gross proceeds of $1,025,000. Each unit consists of one common share and one Series F common share purchase warrant. Each Series F Warrant entitles the holder to acquire one common share of the Company until January 14, 2009 at a price of $0.38 per share, subject to the right of the Company to accelerate the expiry date of the Warrants in the event that the common shares of the Company trade above $0.50 per share for a period of 20 consecutive trading days.

The common shares and warrants comprising the units are subject to a hold period that expires May 15, 2008.

Net proceeds of the financing will be used for general corporate purposes and for expenditures planned for the Company's international portfolio of non conventional uranium extraction testing programs, as well as its advanced precious metal exploration programs in China, Mexico and the United States.

The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy or accuracy of the content of the information contained herein.

     Contacts:
     Sparton Resources Inc.
     A. Lee Barker
     President and CEO
     (416) 366-3551
     (416) 366-7421 (FAX)
     Email: info@spartonres.ca
      
     Sparton Resources Inc.
     E. G Thompson
     Chairman
     (416) 366-6083
     (416) 366-2713 (FAX)
     Email: egt@interlog.com
     Website: http://www.spartonres.ca