Sphere Resources Inc. has entered into a joint venture agreement with Duncan Park Holdings Corporation with respect to the Dome property in Ontario's Red Lake Gold District. The option agreement previously entered into with DPHC with respect to the Dome property contemplated that the parties would enter into a joint venture agreement, with respect to future exploration on the Property, following the earn-in date. DPHC has earned a 75% interest in the property with the company retaining the balance.

DPHC will be the operator of the project under the JV Agreement. Exploration of property will continue when funding and other conditions allow for it.