International Northair Mines Ltd. (TSXV: INM) (“Northair”) and Sparton Resources Inc. (TSXV: SRI) (“Sparton”), have signed a binding Option Agreement (“the Agreement”) whereby Sparton can earn a 51% interest in Northair’s Sierra Rosario project. The 500 hectare project area lies along the western flanks of the Sierra Madre Occidental geological province in the state of Sinaloa, Mexico and was staked by Northair as part of the company’s ongoing, highly successful, generative exploration activities in the region.

Sierra Rosario covers at least six gold and silver occurrences discovered by Northair’s exploration staff. The “San Rafael Zone” contains strong gold-silver mineralization in a rhyolite porphyry that has been traced on surface for over 150 metres along strike, and has an exposed apparent width of up to 40 metres. The zone is open in both directions along strike. Twenty-three chip channel samples taken from this zone by Northair averaged 181 g/t silver and 0.32 g/t gold. Eight grab samples from this zone returned 1.79 g/t gold and 200 g/t silver with a high of 10.79 g/t gold and 711 g/t silver.

Sparton’s first phase of exploration, which is expected to begin in May 2004, will consist of further geological mapping of the concession, and detailed mapping and sampling of the San Rafael Zone and other occurrences within the property area. Subsequent programs, as warranted, may include road construction, mechanical trenching and possibly drilling, likely using reverse circulation methods. Sparton will be utilizing Northair’s Mexican exploration expertise to assist in the initial phases of exploration on the Sierra Rosario property.

The terms of the Agreement require Sparton to earn its 51% interest by paying Northair $130,000(Cdn) in cash, issuing 275,000 common shares and incurring $800,000(Cdn) in exploration expenditures over a four year period. The Agreement is subject to regulatory approval.

“Sparton is pleased to be associated with Northair’s seasoned team of explorationists and developers”, stated Lee Barker, Sparton’s president. “We have monitored their aggressive generative exploration programs in Mexico, and wish Northair every success in its first-phase drill program on its 100% owned El Tesoro project in Durango State.”

Fred G.Hewett, Northair’s President, stated: “Northair is delighted to be working again with members of the Sparton team. They have a long and successful history of project exploration, development, and mining in Mexico in their previous positions with several Canadian resource companies, including Lacana Mining Corporation.”