Sparcap Provides Update on Qualifying Transaction

Sparcap One Ltd. (the "Company") (TSX VENTURE:SON.P), a capital pool company, is
pleased to provide an update with respect to its proposed Qualifying Transaction
("QT"). On September 25, 2013 the Company announced the execution of a
definitive option agreement with Griftco Corporation wherein the Company has
been granted the right to earn a 100% interest in 10 unpatented mining claims
located in Butt Township, Ontario, which would constitute its QT pursuant to the
policies of the TSX Venture Exchange (the "TSXV").


In accordance with TSXV policy, the Company was to complete a QT by September 3,
2013, being 24 months from the date of the listing of its common shares (the
"Common Shares") on the TSXV. The Company was unable to complete its QT within
this time period. Accordingly, the Common Shares were suspended from trading and
the Company was required to either complete its QT or transfer to NEX prior to
December 3, 2013 in order to avoid being delisted. As the Company has not
completed its QT or received the necessary shareholder approvals to transfer to
NEX the Company was granted an extension by the TSXV to complete its QT,
provided that the Company obtains disinterested shareholder approval, by written
evidence from holders of more than 50% of the Common Shares owned by
disinterested shareholders for (i) the transfer to NEX, a separate board of the
TSXV that provides a trading forum for listed companies that have fallen below
the TSXV's continued listing requirements and (ii) the cancellation of an amount
of seed shares (the "Seed Shares") purchased at $0.05 per Common Share so that
the average cost of the remaining Seed Shares are at least equal to the
Company's initial public offering price of $0.10 per Common Share.


If the transfer to the NEX and the partial cancellation of the Seed Shares is
not approved by disinterested shareholders holding more than 50% of the Common
Shares owned by disinterested shareholders, the Common Shares will be delisted
by the TSXV such that there will no longer be a public market for trading in the
Common Shares, and in accordance with the policies of the TSXV and the terms of
the Escrow Agreement dated May 27, 2011, entered into among the Company, Olympia
Transfer Services Inc. and the Company's directors and officers, all of the Seed
Shares purchased at $0.05 per Common Share will be cancelled.


The Company is pleased to confirm that its proposed QT is presently under review
by the TSXV and the Company expects to obtain the necessary consents to evidence
majority approval of the disinterested shareholders shortly in order to complete
its QT and to avoid the consequences associated with being delisted.


Trading in the Common Shares was halted on June 20, 2013, in accordance with the
policies of the TSXV and is expected to remain halted until after the TSXV
accepts and confirms the completion of the QT or the proposed transaction has
been terminated in accordance with the applicable policy of the TSXV. 


Completion of the QT is subject to a number of conditions, including but not
limited to, completion of a concurrent financing and TSXV approval. There can be
no assurance that the QT will be completed as proposed or at all.


Forward-Looking Statements 

This news release contains certain "forward-looking information" within the
meaning of applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "would", "potential", "proposed" and
other similar words, or statements that certain events or conditions "may" or
"will" occur. These statements are only predictions. Forward-looking information
is based on the opinions and estimates of management at the date the information
is provided, and is subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking information. For a description of the
risks and uncertainties facing the Company and its business and affairs, readers
should refer to the Company's Management's Discussion and Analysis. The Company
undertakes no obligation to update forward-looking information if circumstances
or management's estimates or opinions should change, unless required by law. The
reader is cautioned not to place undue reliance on forward-looking information.


Shares Outstanding: 9,470,000

FOR FURTHER INFORMATION PLEASE CONTACT: 
Sparcap One Ltd.
Michael Smyth
Director
[phone]


Sparcap One Ltd.
Kelly Ehler
Director
[phone]