Microsoft Word - SPH - NR Late Filing MCTO - May 15, 2015.doc For Immediate Release SPHERE RESOURCES INC NOTICE OF LATE FILING OF ANNUAL FINANCIAL STATEMENTS

VANCOUVER, BRITISH COLUMBIA, May 15, 2015 - Sphere Resources Inc ("the Company"), listed on the NEX Board of the TSX Venture Exchange (NEX - SPH.H), makes the following announcement:
1. The Company anticipates that it will not be able to file its audited financial statements for its fiscal year ended December 31, 2014 (the "Annual Financial Statements") in the time period required under applicable securities legislation. The filing deadline for the Annual Financial Statements is April 30, 2015.
2. The Company has just received from the CFO, Mr. Tom Needham, his notice of retirement for health reasons and is resigning effective April 30, 2015. This has held up the preparation of the Annual Financial statements as the Company seeks a new CFO which has just been completed. Unfortunately, management's concentration in finalizing these activities has resulted in a delay in the commencement of the audit process.
3. The Company expects to file its Annual Financial Statements by June 15, 2015.
4. The securities commission or regulators may impose an issuer cease trade order ("CTO") if the
Annual Financial Statements are not filed by June 30, 2015. An issuer CTO may be imposed sooner if the Company fails to file its Default Status Reports on time.
5. The Company intends to satisfy the provisions of Appendix B (Default Status Reports) of CSA
Staff Notice 57-301 as long as it remains in default of the financial statement filing requirements by issuing, during the period of default, a Default Status Report on a bi-weekly basis.
6. The Company advises that it is not subject to any insolvency proceeding.
7. The Company advises that there is no other material information concerning the affairs of the
Company that has not been generally disclosed. Dated as of the 17th day of April, 2015.
SPHERE RESOURCES INC.
Per: Malcolm Stevens
Executive Chairman and President

About Sphere Resources Inc

Sphere Resources Inc is focused on identifying and appropriating exploration targets and other high quality assets in major global mining camps with a particular emphasis on precious metals. The Company is currently involved in exploring for gold mineralization on the Carlin Trend in Nevada, USA and is reviewing for acquisition gold producing assets in South America, initially in Ecuador.

On behalf of Sphere Resources Inc Malcolm L Stevens, Executive Chairman and President

Statements in this news release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

Sphere Resources Inc Malcolm L Stevens Phone: +16232077784
mstevens@sphereresources.com www.sphereresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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