Key Points:  SPX acquires 100% of the First Hit Mine, an...

Key Points:
 SPX acquires 100% of the First Hit Mine, an historic high-grade producing gold mine, located 50km west of the town of Menzies in Western Australia from tenement owner Mr Mark Wicksteed.
 The First Hit Mine was last mined in December 2002 by Barminco Pty Ltd and Barra Resources Ltd (ASX:BAR) and includes significant underground mining infrastructure.
 Existing surface and underground drilling at the base of the existing workings indicates that gold mineralisation is open to the north, south and down plunge within the plane of the mineralised structure.
 Indications are that a parallel, footwall lode (Evans FW Lode) exists on the southern end of the main lode structure.
 Numerous opportunities exist within the newly acquired tenement package for the discovery of additional gold mineralisation.
 Spectrum has agreed terms to raise $600,000 at $0.004 per share in a placement to sophisticated investors.