Mexivada Mining Corp. announced that Mexivada has served notice to Spartan Gold Ltd. and Sphere Resources Inc., which parties signed an option agreement with Mexivada Mining Corp. pertaining to its Poker Flats property in Nevada, that they are in default of a payment obligation stipulated in the Option and mining claim acquisition agreement dated August 6, 2014.

Section 3.3(a) of this contract required Spartan and Sphere to incur and pay the sum of $10,000 to Mexivada upon execution of the agreement. Neither Spartan Gold Ltd. nor Sphere Resources Inc. made this payment to Mexivada Mining Corporation, and thus are in default of the agreement, which now is subject to immediate termination by Mexivada Mining Corporation, as stipulated in Clause 7.1(a) of the contract.