April 16 (Reuters) - Sparton Resources Inc SRI.V :
* SPARTON RESOURCES INC. AGREEMENT TO PURCHASE VANADIUM MINING LICENSE
* SPARTON RESOURCES INC - PURCHASE PRICE WILL BE WITHIN RANGE OF RMB 14-22 MILLION (CDN$2.78-$4.37 MILLION)
* SPARTON RESOURCES INC - VSTAR INDUSTRIES SIGNED A BINDING TERM SHEET TO ACQUIRE 100% OF BEI AN MINING LICENSE IN JIANGXI PROVINCE CHINA.
* SPARTON RESOURCES INC - PAYMENT IS CONTEMPLATED TO BE IN A SERIES OF TRANCHES RELATED TO MILESTONES