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Sparrowtech Completes Due Diligence on Porvenir Mining Property in Southern Ecuador.

TORONTO -- Sparrowtech Resources, Inc. ("Sparrowtech") (Pink Sheets:SPMC) is pleased to announce that it has completed its due diligence regarding its proposed acquisition of Minera El Porvenir, S.A. ("Porvenir"), and its gold mining properties located in the western end of the Ecuadorian metallurgical gold belt.

Sparrowtech's independent geologist, Larry Sostad of Vancouver, British Columbia, travelled to the Porvenir mining property in Southern Ecuador to inspect the mine and prepare a detailed geological report. Sparrowtech also received two additional technical reports from Ecuadorian geologist Jaime Piedra and Ecuadorian mining engineer Mario Falquez Andrade.

"We are pleased with the three reports we received from the two geologists and the mining engineer as they confirm the active mining operations and potential of the Porvenir mining property," stated Cornelia Volino, President. "We look forward to completing this acquisition and implementing the required modernization to assist Porvenir in increasing and maximizing its production potential."

Sparrowtech is currently in the process of finalizing the definitive purchase agreement with Overseas Mining, S.A., a Panama corporation, to acquire 80% of the mineral rights, mining interests, claims, equipment and other assets of the Porvenir mining property. The analysis of the geological and technical reports will be released upon the signing of the definitive purchase agreement.

A number of statements contained in this press release may be considered to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
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Publication:Business Wire
Geographic Code:1CANA
Date:Jun 25, 2007
Words:274
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