Mr. A. Lee Barker of Sparton Resources reports

ELDORADO GOLD CORPORATION EXERCISES OPTION FOR BRUELL GOLD PROJECT

Eldorado Gold Corp. has, effective April 18, 2024, exercised its option to acquire from Sparton Resources Inc. an initial 75-per-cent interest in the Bruell gold project, east of Val d'Or, Que.

Further option extension

Sparton and Eldorado have executed, effective April 18, 2024, a further amendment to the original option agreement to delete the 20-business day further option period and replace it with a 75-business-day option period for Eldorado to implement the joint venture or decide if it wishes to acquire all of the remaining Sparton 25-per-cent interest for a combination of a $1.8-million cash payment (adjusted for CPI (consumer price index)) and a residual 2-per-cent net smelter return (NSR) royalty. Fifty per cent of the NSR royalty can be purchased by Eldorado for $2.5-million at any time. This extension will enable transferring of the Bruell claim titles to Eldorado, preparation of joint venture documents and the efficient implementation of other things necessary for the property ownership change.

"Sparton is delighted that Eldorado has decided to exercise its option and we look forward to working with them," stated A. Lee Barker, Sparton's chief executive officer. "With gold prices at all-time highs and positive technical results from Eldorado's work to date, we welcome the possible opportunity to participate in further programs."

We seek Safe Harbor.