SEI Sintana Energy Inc

NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRES OR FOR DISSEMINATION IN THE
UNITED STATES.


Sparton Resources Inc. (TSX VENTURE:SRI) (the "Company") is pleased to announce
that its subsidiary, Sparton Energy Inc. ("SEI") has closed a US$2 million
bridge loan (the "Loan") provided by a Quam Limited ("Quam") subsidiary company,
Quam Ventures BVI Ltd. The proceeds of the Loan will be used to complete SEI's
previously announced acquisition of an initial 60% share interest in Linxing 306
Huajun Coal Co. Ltd. Lincang City (" Huajun "), which owns the Huajun coal and
germanium producing operations in Yunnan, China. This will result in SEI taking
over control of the operations and the cash flow at Huajun, which latter is
currently estimated to be approximately US$ 125,000 per month based on recent
concentrate sales. SEI has completed the sourcing of experienced technical and
financial staff to effect transition of the operational and management changes.


As previously announced (see news release dated June 24, 2008), Quam Securities
Company Limited ("Quam Securities") of Hong Kong a Quam subsidiary, has entered
into an engagement letter with SEI to raise up to US$10 million in convertible
debentures of SEI (the "Convertible Debentures") on a "best efforts", private
placement basis (the "Financing"). Quam Securities through a subsidiary intends
to subscribe for US$ 2 million of the Convertible Debenture on closing of a
minimum of US$5 million in Convertible Debenture sales. The proceeds from the
sale of a full US$10 million of Convertible Debentures will be partially used
for purchase of an additional 25% share interest in Huajun and for technical
upgrades to those operations. (See news release dated April 17, 2008 for details
of this transaction).


The Financing proceeds will also provide capital for the final design,
permitting and construction of a pilot plant and uranium extraction testing
facility in the Lincang area, which will be built at the Huajun site. Following
final testing, commercial plant design and feasibility work, these funds will
then support the construction of a commercial uranium extraction plant for
Lincang area waste coal ash, and support SEI's ongoing international secondary
uranium recovery programs.


Various conditions precedent, including receipt of all required regulatory and
corporate approvals, and completion of independent due diligence reviews have
now been met or completed, allowing the closing of the Loan part of this
transaction.


BRIDGE LOAN TERMS

The Loan is for a principal amount of $US2 million, will carry interest at 10%
annually and is repayable on or before maturity on March 31, 2009. The maturity
date may be extended to May 31, 2009 under certain conditions. The loan will be
repaid out of proceeds of funds from the Convertible Debenture sales as long as
a minimum of US$ 5 million in Convertible Debentures are sold by Quam Securities
or SEI alternately raises a similar minimum amount. SEI intends to repay the
Loan when US$ 5 million in Convertible Debentures are sold. Quam has indicated
it intends to subscribe for US$2 million of the Financing for its subsidiary's
account, subject to an additional US$3 million being raised under the Financing.


In addition to the interest payable on the principle amount of the Loan, SEI has
issued up to 2,648,700 SEI preference shares (the Preference Shares"),
representing a 7.7 % fully diluted interest in SEI, which will be reduced on a
scaled basis, if the aggregate gross proceeds of the Financing do not meet or
exceed $US 10 million. If no Convertible Debentures are sold the interest in SEI
will be reduced to 5%. Quam may elect to convert these Preference Shares into
common shares of SEI, or, Quam may elect to convert the full number of
Preference Shares into 3,555,000 Bonus Common Shares of the Company at a value
of C$0.11 per Bonus Common Share.


SEI and the Company are providing security for the Convertible Debentures to
both Quam and any debenture holders in the form of a guarantee backed by the
Huajun shares, SEI's interest in the agreements and operating vehicles related
to the secondary uranium recovery programs in Yunnan, and the Company's
estimated 6% working interest in the Chebucto gas field offshore of Nova Scotia,
Canada. This security will be removed under certain terms and conditions related
to repayment of the Loan and financial performance of SEI's operations in China.


QUAM LIMITED

Quam Limited is a listed Hong Kong (952 SEHK) based financial services group
comprised of several renowned Hong Kong businesses, including Quam Securities,
Quam Capital, Quam Asset Management, Quam Wealth Management, Quamnet.com and
Quam Investor Relations. Utilizing both its online and offline resources, Quam
offers one-stop financial services in Hong Kong and China for corporations and
individual investors alike. It also provides capital markets assistance in
Tokyo, Bangkok, Dubai, Hong Kong and through its representative offices or
wholly-owned foreign enterprises in Shenzhen, Shanghai, Shenyang of China. The
Company has been associated with Quam as its financial advisor in Hong Kong for
more than two years.


DISCUSSION

The proceeds of the Financing will further the Company's goal of becoming a
profitable operating company through its subsidiaries, and provide immediate
cash flow to the Company through SEI. The medium term objectives are to upgrade
the Huajun operations and enhance their profitability by increasing output and
upgrading the current production of germanium concentrate to pure germanium
metal. Additionally, utilizing its proprietary technology, the Company will move
forward with its uranium extraction program from Lincang coal ash, through its
joint venture with China National Nuclear Corporation ("CNNC") and plans to
complete a bulk test plant, feasibility study, and ongoing construction of a
commercial production facility in the Lincang area.


Experienced SEI operating staff will now oversee the Lincang operations and
organize the design and implementation of the new germanium metal production
plant. Engineering design and permitting for this work are in the final stages.
Lyntek Inc., the Company's process engineering consultant, has completed an
initial design for the uranium extraction bulk test plant and this has been
submitted for review to the PRC environmental permitting authorities in
cooperation with the Number 4 Production and Research Institute of CNNC.


Sparton's international exploration, development, 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.


This press release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Generally, forward-looking
statements can be identified by the use of forward- looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"planned", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may" ,"could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, closing of transactions,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking statements, including but not
limited to: risks related to exploration and development, the environment, local
and foreign government regulation, currency fluctuation infrastructure, capital
markets and additional funding requirements and the departure of key executives
as well as those factors discussed in the Company's documents filed on SEDAR
(www.sedar.com).


Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. The
Company does not undertake to update any forward-looking statements that are
contained herein, except in accordance with applicable securities laws. Further
information on Sparton Resources Inc. is available at www.sedar.com.


This news release and the information contained herein does not constitute an
offer of securities for sale in the United States and securities may not be
offered or sold in the United States absent registration or exemption from
registration.

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