Mr. Richard Munson reports

SANDSPRING RESOURCES INCREASES FULLY-SUBSCRIBED PRIVATE PLACEMENT TO $7.5 MILLION

Due to strong investor interest, the board of directors of Sandspring Resources Ltd. has approved an increase in the amount of its non-brokered private placement.

The placement has been fully subscribed, and the company now intends to issue 37.5 million units at a price 20 cents per unit. Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional share at 35 cents for a period of 60 months.

Completion of the private placement remains subject to the approval of the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period.

About Sandspring Resources Ltd.

Sandspring Resources is a Canadian junior mining company that is currently moving toward a feasibility study for the Toroparu project in Guyana, South America.

We seek Safe Harbor.