Spartan Gold fka SPAG

[vinnybotz]

Spartan Gold Ltd. Enters Into MOU With RCG Holdings to Co-Develop Security Applications for the Mining Sector
Spar Gold (OTCBB:SPAG)
Intraday Stock Chart
Today : Thursday 20 January 2011


Spartan Gold Ltd. ("Spartan Gold") (OTCBB: SPAG), a diversified U.S. based gold junior exploration company announced today that it has entered into a Memorandum of Understanding ("MOU") with RCG Matrix Sdn Bhd, a wholly owned subsidiary of RCG Holdings Ltd.("RCG"). This MOU between the two entities is the first step in targeting the development of biometric based security applications for the mining sector. The two companies agree to mutually work together to complete a more formal definitive agreement to outline the relationship but in principle will join forces to co-develop a solution that can be utilized for Spartan Gold mining operations and made available to mining operators around the world.
RCG is a leading international provider of products, solutions and services which include biometric access control devices, biometric consumer products, RFID enabled asset management systems, RFID ticket anti-counterfeit and management system solutions, RFID hospital management system solutions, intelligent surveillance systems using facial recognition technology and M2M applications. The Group's international presence covers 22 countries globally with main businesses in Greater China, Southeast Asia and the Middle East.

Under the terms of the MOU, Spartan Gold will assist RCG in generating sales related to its technologies in the mining industry worldwide, and adopt, if appropriate, RCG's biometrics, RFID and security-related technologies for relevant applications in the mining explorations conducted by Spartan Gold. The agreement will focus on the development of applications for the mining sector, where safety and theft concerns can potentially be addressed by RCG's biometric applications.

Malcolm Stevens, CEO of Spartan Gold, stated "As Spartan Gold commences exploration and mining activities on its world class gold concessions, management is mindful of safety and security concerns that are relevant to our industry and more specifically to our company." He went on to say, "The opportunity to work with RCG enables our team to participate in developing a solution for the serious issues faced by every mining operator in the world and it also addresses the goal of the company to look for cash flow opportunities in the mining sector to enhance our exploration activities. We sincerely believe with our experience in the mining industry, we shall be able to improvise the usage of RCG's technologies and also introducing these solutions to our partners in the industry. This is a win-win situation for all parties involved."

Dato' Lee Boon Han, CEO of RCG, said: "We are pleased to have signed the Memorandum of Understanding with Spartan Gold and both parties have a common understanding and intention to deploy RCG's technologies in the mining industry. RCG is actively looking at various lucrative vertical industries which the Group will be able to bring and apply its technologies into, and believes that the mining industry represents one of the areas where applications of biometrics and RFID will be able to streamline its operations and improve safety and security. We are excited about the opportunity presented to us."

About Spartan Gold Ltd:

Spartan Gold Ltd. (OTCBB: SPAG) is a publicly traded U.S. based junior gold exploration and mining company with gold exploration and development activity centered in both the Carlin-Rain and Round Mountain-Northumberland Gold Trends in Nevada. The Carlin region is the location of the Spartan Gold prospect known as Poker Flats and Round Mountain, and Northumberland Mining Districts of Nevada are home to the Ziggurat project.

Each of these regions are endowed with major gold deposits operated by many of the world leaders in the mining industry. Major mining projects in the Carlin Trend are currently operated by Barrick Gold Corporation (trading on the NYSE and the TSX) and Newmont Mining Corporation (trading on the NYSE) which exist both north and south of the Poker Flats prospects respectively. Additionally, some of the major mining projects in the Round Mountain-Northumberland districts are currently operated by Barrick Gold Corporation and Fronteer Gold (trading on the ASE) which exist in close proximity to the Ziggurat prospect. The company also has mining interests in the northeast region of Alabama in the historical Arbacoochee Mining District. The company is currently pursuing opportunities for several acquisition targets around the world and focusing on operational plans for current projects. The directors, management and advisers of Spartan Gold have over 90 years of combined experience in the exploration and development of global mining projects.

Spartan's commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources. Spartan has selected an international board of directors experienced in undertaking exploration, development and funding of numerous energy and minerals projects around the world.

About RCG Holdings Ltd:

RCG, a leading global provider of integrated biometrics and RFID security solutions, is publicly quoted and its shares are listed on the Main Board of the Stock Exchange of Hong Kong Limited and admitted to trading on the AIM Market of the London Stock Exchange and the PLUS market. The Company has an aggressive growth strategy with a clear focus on developing new applications and revenue streams for global roll-out, particularly in the security applications industry.

Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Spartan Gold Ltd. predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, changes in metal prices, the ability to successfully fund any exploration activities, consumer and business consumption habits, the ability to fund operations and other factors over which Spartan Gold Ltd. has little or no control. Such forward-looking statements are made only as of the date of this release, and Spartan Gold Ltd. assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in Spartan Gold Ltd. Form 10-K for its fiscal year ended December 31, and other documents filed from time to time by Spartan Gold Ltd. with the Securities and Exchange Commission.

For more information:

See our website www.spartangoldltd.com

Please contact:

Investor Relations:

Mr. Seth Shaw

Tel: 917-796-9926

Email: Email Contact



Corporate Office:

William H. Whitmore, Jr.

President

13951 N. Scottsdale Rd, Suite 233

Scottsdale, AZ 85254

Office: [phone]

Fax: [phone]

Email: Email Contact