• Spartan to acquire remaining 20% interest in Dalgaranga exploration tenements
• Consolidation provides operational flexibility as Spartan progresses restart decision
• Acquisition funded from Spartan's existing cash balance

Spartan Resources Limited (ASX: SPR) is pleased to announce that it has executed binding purchase agreements to acquire the remaining 20% interest in a portfolio of exploration tenements at its Dalgaranga Gold Project in Western Australia that it does not already own. Spartan is currently party to two unincorporated joint ventures at Dalgaranga covering exploration tenements E59/1904, E59/1906, E21/195 and E59/1709, under which it holds an 80% interest and private parties hold the remaining 20% interest. Under the terms of the binding agreements, Spartan will acquire the remaining 20% interest in each tenement from the respective private holders, and the two joint ventures will be disbanded. The aggregate cash consideration to be paid is $2.5 million, and completion of the purchase is expected in the coming days. The consideration is being funded from Spartan's current substantial cash balance. Spartan Executive Chairman, Simon Lawson, stated that the consolidation of the tenure immediately adjacent to the flagship Dalgaranga Gold Project will provide the company with operational flexibility as it progresses forward with making a re-start decision at Dalgaranga, underpinned by the high-grade Never Never and Pepper underground deposits. Spartan also noted that a number of prospects on these tenements have been identified as being prospective for mineralisation similar to Never Never and Pepper, and will be the subject of future exploration programmes.