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Press Releases

Jul 28, 2009

Sandspring Resources Ltd. Arranges $5,000,000 Bought-Deal Offering

Sandspring Resources Ltd. (TSX-V: SSP.P) (the "Corporation" or "Sandspring") today announced that it has entered into an agreement with a syndicate of underwriters led by Research Capital Corporation (the "Underwriter"), whereby the Underwriter will purchase, on a bought deal basis, 14,285,800 subscription receipts of the Corporation (each a "Subscription Receipt") at a price of $0.35 per Subscription Receipt, for aggregate gross proceeds to the Corporation of $5,000,030 (the "Offering"). The Corporation has also granted to the Underwriter an option (the "Over-Allotment Option") to purchase up to an additional $1,000,020 in Subscription Receipts until the closing of the Offering. The Offering will replace the best-efforts agency offering previously announced by the Corporation on May 15, 2009.