Spirit Exploration, Inc. Publishes Information and Disclosure Statement

November 30, 2007, Victoria, BC: Spirit Exploration, Inc. (SPXP: Pink Sheets)

announced today that it has published on Pink Sheets News Service its “Information and Disclosure Statement pursuant to rule 15c2-11″, its unaudited Consolidated Financial Statements as of September 30, 2007 and December 31, 2006, as well as an “Attorney Letter With Respect To Adequate Public Information.” These documents can be reviewed at www.pinksheets.com under the symbol “SPXP.” These steps will make Spirit Exploration fully compliant with pinksheets recently implemented disclosure guidelines.

Terry Fields stated, “Since my becoming CEO, I have made it my goal to keep shareholders informed as our business develops. Transparency and open information exchange are critical precursors to any sustained investor confidence. The filing of this initial Disclosure Statement and Financial Statements is an important first step in a series of steps that will culminate in complete transparency as a fully reporting company listed on a senior exchange.”

About Spirit Exploration, Inc.: Spirit Exploration, Inc., a Nevada Corporation, is an early production mining company. Through its subsidiary ECUADORGOLDCORP, S.A., of which we own 99%, we are in the business of acquiring, exploring and developing mineral (gold, silver, copper) concessions in Ecuador. Spirit is in the process of bringing several mines into production. We have acquired, and we have options to acquire, a diverse range of mineral production and exploration properties in Ecuador. Included in these properties are several land packages that can easily be joint- ventured, allowing us to advance these properties with little of our own capital while still participating in the upside.

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

IR Contact:
Dan Gravelle Goal Capital LLC
Phone: 949-481-5396
Email: danny@spirit-exploration.com

SPIRIT EXPLORATION ANNOUNCES $4.8 MILLION JOINT VENTURE ON MARIA OLIVIA GOLD PROJECT AND ONE MILLION SHARES IN JV COMPANY

 

November 6, 2007, Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets)

through its wholly owned subsidiary, ECUADORGOLDCORP S.A., is pleased to announce it has signed a letter of intent with Franzosi S.A.to enter into a joint venture putting the Maria Olivia gold project into full production. Franzosi S.A., an exploration company based in Quito, Ecuador, can earn up to 50% of the project by spending approximately $4.8 million and issuing Spirit a million shares of its capital stock, representing 3% of Franzosi S.A. Franzosi S.A. plans to go public on the Toronto Stock Exchange before the end of the year. The Definitive Agreement shall be completed and executed on or before November 13, 2007. To date, the Maria Olivia Project has an inferred resource of approximately 600,000 ounces of gold equivalent (43-101 compliant).

Peter Laipnieks, President of Spirit stated “This joint venture will accelerate our gold production plans in the Portovelo area of Ecuador. We are presently upgrading our production plant at Muluncay and are planning a major expansion there in the near future. By bringing in a joint venture partner to develop Maria Olivia, we will be adding to our gold production far faster than if we were to develop the project ourselves. With gold now over $800 per ounce we want to get our product to market as quickly as possible and capitalize on this gold “bull” market. Some analysts are calling on gold to break $1000 per ounce in the next year. These new numbers will significantly change the company’s economic model and projected earnings model that we originally developed using a $650 per ounce model in March 2007. The company was very exciting then. These new gold prices may make our shareholders far more profits than we originally anticipated” Mr. Lapnieks continues, Franzosi S.A.is a mining exploration company with several projects based in Ecuador and has tremendous local knowledge that should help both companies solidify and strengthen their presence in mineral rich Ecuador.” Franzosi S.A. is an affiliated company of the Quri Resources group and Produelec S.A. (http://www.quriresources.com), a mining exploration company in Ecuador. Franzosi’s management includes business and mining experts with vast knowledge of the local social and political environment in Ecuador.

Franzosi’s President Jaime S. Gomez Moya states “We are very happy with the relationship we are forming with Spirit Exploration; Ecuador is on the verge of unprecedented growth in the mining industry specifically in the exploration and development of precious metals, yet we are still well behind other countries in this region and forming this partnership allows us to contribute to the local economy and development of the country as a whole. We have committed our resources to the success of the Maria Olivia project and we project to invest over $5,000,000 on the joint exploration and development. We are estimating that we will increase the inferred gold resources at Maria Olivia to over 1,000,000 troy ounces. With the price of gold around $800, the return on our investment is expected to be substantial. Further, the surrounding villages acknowledge the expected influx of capital to the local economy and are eagerly anticipating this alliance between us and Spirit Exploration. We look forward to a very productive relationship”.

Further information about Spirit is available on the company’s website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Contact: Peter Laipnieks, President 1 250 384-2077

Spirit Exploration, Inc. Begins Phase One Exploration Program on Kylee Concession, Ecuador

October 30, 2007, Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets) has begun its Phase One exploration program on its recently acquired Kylee concession. Spirit has retained Duncan J. Bain P.Geol. of London, Ontario Canada to conduct this independent exploration field work. Duncan Bain has conducted over 100 geological studies around the world and is 43-101 compliant. The program will include detailed mapping, prospecting, stream sediment sampling, chip and channel sampling, trenching and litho geochemical sampling. All current and past underground workings will be mapped, surveyed and sampled. The result of this preliminary program should give us many potential drill targets.

Mr. Bain has also been commissioned to independently review several mining projects Spirit presently has under option. These properties encompass over 30,000 hectares in Zaruma, Portovelo, Loja and Machala areas of Ecuador. These projects range from grass root exploration projects to concessions with operating mines. Peter Laipnieks, President of Spirit stated “there is a land rush going on in Ecuador and we are securing a range of projects that will add to our resource base. Our initial focus was to secure and develop known veins systems such as our Muluncay and Maria Olivia Projects. We are now looking to add other projects to our portfolio that offer “discovery” potential as well as added production.”

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Contact: Peter Laipnieks, President 1 250 384-2077

Spirit Exploration, Inc. Acquires 28,000 acres in Fierro Urco Concessions in the Enormously Productive Loja Province, Ecuador

October 26, 2007, Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets)
through its wholly owned subsidiary, ECUADORGOLDCORP S.A., is pleased to announce it has acquired a strategic land package, Fierro Urco II, which is comprised of 11 concessions totaling 13,503 hectares (approximately 28,000 acres) inside the Regional Mining District of Loja. This land package is north of Loja, Ecuador and just west of the Aurelian Resources, Inc.(TSX) Fruta Del Norte Gold-Silver Deposit, which recently reported an inferred resource of 13.7 million oz. of gold equivalent.

There have been numerous exploration programs carried out on this property under the auspices of the British Geological Commission, the United Nations and Geología del Ecuador. Our geological team in Ecuador has conducted an extensive document search and review of previous work in this very strategic area in Southern Ecuador. The 11 mining concessions we obtained in this package presented 134 areas interest to our experts. This project will be fully evaluated with a preliminary exploration program already initiated with soil sampling. The program will include detailed mapping, prospecting, stream sediment sampling, and chip and channel sampling to confirm the previous exploration data. Spirit will be very aggressively defining each phase of our exploration results based on these lab tests and will move quickly into a drill program.

Peter Laipnieks, President of Spirit, stated “We are extremely excited about this land package as it is in the heart of the Loja epithermal zone. This area has produced incredible early results. These early findings continue to show that management has taken the right steps for the shareholders and the proper positioning of Spirit right in the heart of this gold rich environment during this rapidly accelerating gold market.”

We are also pleased to announce that we are in final negotiations with several joint venture partners that are offering to invest in several of Spirit’s properties in order to bring them into production. We hope to announce the finalization of one or more of these Joint ventures within the near future.

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Contact: Peter Laipnieks, President 1 250 384-2077

Spirit Exploration, Inc. Acquires Kylee Concession in Azuay Province, Ecuador

October 19, 2007, Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets)
Spirit Exploration, Inc. through its wholly owned subsidiary, ECUADORGOLDCORP S.A., is pleased to announce it has acquired a strategic land package called Kylee, which consists of 2,050 hectares inside the Regional Mining District of Azuay, northeast of Machala, Ecuador. This project contains at least one major vein of 1 m width, and is suggested to be 2.3 km. long showing strength, continuity and depth which could host multi- million ton resource. Several large unexplored vein structures, including two vein systems presently being worked by local miners, need to be evaluated. Peter Laipnieks, President of Spirit, stated “This is a very important acquisition for Spirit; it begins our movement into another well known gold district in Southern Ecuador.”

This project will be fully evaluated with a preliminary exploration program which will take approximately two months. The program will include detailed mapping, prospecting, stream sediment sampling, chip and channel sampling, trenching and litho geochemical sampling. All current and past underground workings will be mapped, surveyed and sampled. The result of the preliminary program should give us drill targets. The next phase diamond drilling will allow detailed examination of vein and host rock, alteration patterns and structural elements. Sampling of core would be for gold, silver, copper and base metals. This work will establish a preliminary estimate of grade and tonnage for the project.

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Spirit Exploration, Inc Increases Inferred Resource in Portovelo-Zaruma-Ayapamba Gold District of Ecuador to Over 1,000,000+ ounces with New Acquisition

October 8, 2007 Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets)

Spirit Exploration, Inc. through its wholly owned subsidiary, ECUADORGOLDCORP S.A., is pleased to announce it has acquired the Maria Olivia Concession, a highly mineralized property near Zaruma, Ecuador from Minera Pacifico. The Maria Olivia Project lies approximately 100 km to the west of Aurelian Resources (TSX:ARU) and 120 km south of IAMGold’s (TSX:IMG) multi-million ounce Quimsacocha deposit. Dynasty Metals and Minerals Inc. (TSX:DMM) hold a series of concessions in the same epithermal gold system as the Maria Olivia Concession. These three major Ecuadorian gold districts are part of a regional epithermal mineralizing system which covers the southern half of Ecuador.

A preliminary estimate of the inferred resource on the Maria Olivia Concession, from the three known veins (Tres Diablos, Bolivar, San Antonio) is 562,500 oz of gold equivalent. Peter Laipnieks, President of Spirit stated “We are extremely excited about acquiring this concession; it pushes our inferred resource in the Portovelo-Zaruma Region to over a million ounces of gold equivalent. It gives Spirit another source of high grade ore that we will rapidly develop to supply the milling operations at Muluncay.”

The veins of Maria Olivia have an estimated strike length of 1 km and an average width of 1.3 meters and an average depth of 600 meters. A sampling of the veins produced average grades ranging from 12 to 16.96 g/t. The company believes additional veins will be found during further exploration with secondary veins, stringers, breccia and disseminated mineralization adding to the volume of mineralized material and raising the inferred resources.

Spirit’s Phase 1 exploration program includes detailed mapping and prospecting. Stream sediment sampling and litho geochemical sampling will be carried out. All current and past underground workings shall be mapped, surveyed and sampled. Wall rock to at least a meter on either side of each vein will also be sampled. Upon completion and review of this data, sites will be selected, either underground or on surface, to test for new mineralized zones and for continuity of veins. Diamond drilling will allow detailed examination of vein and host rock, alteration patterns and structural elements. Sampling of core would be for gold, silver, copper and base metals. This work will create a more accurate estimate of grade and tonnage for the entire area. Spirit’s Phase 2 includes having Spirit’s underground engineering team begin designing a mining plan based on Phase 1 results.

The old SADCO operations formerly the largest mining company inSouth America until 1950 had scattered operations throughout the district. Generally, with the exception of the Grand Mine, the veins only extended to a depth of approximately 200m below surface. The Grand Mine contains a gold-mineralized zone which extended to a depth of at least 660 m below surface. It was collared at an elevation 700 m below mine workings in the Maria Olivia concession area. This indicates that there is significant additional potential at depth of up to 1500 m for most of the concession in the district, including those veins contained within the Maria Olivia concession. No estimate of the value derived from silver or sulphide concentrate has been made, but it would add a significant amount to the value of this resource. The history of the Zaruma mining operations indicates that there is a significant opportunity to apply modern mining methods to a major resource which has had only limited exploitation in the past.

Further information is available on the company website: spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Contact: Peter Laipnieks, President 1-877-611-7111

Spirit Exploration Inc. Begins Production at Muluncay

 

August 16, 2007, Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets)

Spirit Exploration, Inc. through its wholly owned subsidiary, ECUADORGOLDCORP S.A., is pleased to announce it has commenced production of gold/silver/copper concentrate at its Muluncay mine site in Portovelo, Ecuador. The company has been working over the last three months with its operator, Minera Del Pacifica SA, to upgrade their mining and milling operation to enhance recovery rates. The initial flotation milling production has begun at 80 tons per day, and should increase over the next four to six months.

Peter Laipnieks, President of Spirit, stated “this is a huge milestone for the company; we are now a gold producer, which means the company will be generating cash flow that will be used to accelerate our growth at Muluncay.”

Spirit will be running a combination of mine feed and tailings. There are 5000 tons of tailings on the property which have been assayed at 7 grams gold equivalent value. These tailings are from past production when mill recovery was low.

The company is completing the slashing out of its main Muluncay production tunnel, the Nueva Esperanza Mine, to 8ft x 8ft for underground equipment clearance. This tunnel is approximately one kilometer long and has four primary vein faces plus several secondary veins. We are placing a new steel rail for volume removal of ore, replacing the antiquated rubber tired system. Spirit is also introducing modern production equipment to increase this mine’s production to 150 TPD, to match our planned processing capacity.

The company’s 43-101 report states there are 4 known major veins and several secondary vein systems in the Muluncay Mining district. The 43-101 report states that a head grade of 12 grams gold equivalent could be expected as feed for our floatation mill. The report gives a preliminary estimated resource of 600,000 oz gold in the Jen and Christina veins which are the two major veins currently worked.

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Contact: Peter Laipnieks, President 1-877-611-7111

Spirit Exploration, Inc. Hires Auditors, Plans on Becoming a Fully Reporting Issuer

August 8, 2007, Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets)

The company is very pleased to announce that it has retained Gruber & Company LLC, independent certified public accountant, headquartered in Lake St. Louis, Missouri. Gruber & Company audits over 40 public companies in the US and abroad. Peter Laipnieks, President of Spirit, stated that completing our financials and audit work is a very important milestone for the company as it desires to become a fully reporting issuer with the United States Securities and Exchange Commission as soon as possible.

“We are anxious to complete our audits and to move off of the pinks sheets exchange and on to a higher, more recognized exchange. Our press has shown significant results in our growth and we anticipate even more impressive news in the weeks to follow. Being fully audited will give the shareholders the confidence they need to support this company as it continues to grow.”

Spirit has also retained Cutler Law Group to help the company with its filing requirements. Cutler Law Group has substantial experience in all areas of SEC, stock exchange and state securities law. There experience includes preparation and filing of listing applications with NASDAQ, the New York Stock Exchange and the American Stock Exchange. There client base includes many public companies, broker dealers, underwriters, investment advisors, financial consultants. There business attorneys have also completed projects to comply with broker-dealer requirements under state and federal securities laws, as well as to properly qualify securities under various state “blue sky” laws. See www.cutlerlaw.com for further information

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Contact: Peter Laipnieks, President 1-877-611-7111

Spirit Exploration, Inc. Completes Acquisition of Nueva Esperanza, Autonomus and Las Canas Mines in the Muluncay Mining District, Ecuador

May 22, 2007 Vancouver, BC: Spirit Exploration, Inc. (SPXP: Pink Sheets) Peter Laipnieks, President of Spirit is extremely pleased to announce that Spirit has finalized the acquisition of three mines and a flotation processing plant in the Muluncay Mining District near Portovelo in Southern Ecuador. Roger McClay, President of MINERAS ECUADORGOLDCORP S.A., a wholly owned subsidiary of Spirit targeted these acquisitions to provide properties from which Spirit can start producing gold immediately. Roger stated “even though local miners have been producing gold from these concessions for twenty years, we believe they have only scratched the surface of these potentially vast vein structures”.

The Autonomos Mine, itself, accesses four known major veins and several secondary veins that run for more than a kilometer and are open to depth. According to Duncan Bain, the consulting geologist, who wrote the 43-101 report on this concession: It is probable that a resource of greater than 1.6 million tonnes, with a grade in the order of 12 g/T (due to dilution by secondary veins and disseminations) could produce 19,200,000 g (600,000 oz) Au. No estimate of the value derived from silver or sulphide concentrate has been made, but it would add a significant amount to the value of this resource. Management believes the Muluncay Mining district contains in excess of 1 million oz gold equivalent. The company is currently assessing the upgrading of mining and mill production capacity to achieve a minimum of 300 tons per day operation.

The Muluncay Mining District contains gold-bearing quartz and quartz-adularia veins with abundant sulphides. Host rock is Celica Formation massive andesitic lavas and tuff intruded by small Lower Cretaceous age diorite/granodiorite plutons interpreted as a continental volcanic arc.in the N-S trending veins, dipping 70^o to 90^o NE, are the dominant structures for hosting gold, silver, lead, zinc and copper mineralization; the deposits are classified as adularia-sericite low- to intermediate sulphidation epithermal gold system. Secondary veins, stringers, breccia and disseminated mineralization in the wallrocks have never been exploited, or even properly assessed. The district has a production history of 8-10 grams per ton by local miners, working two of eight known vein systems in the Muluncay district. These veins have never been tested to depth. The company will also commence an extensive underground survey, mapping, sampling and drilling program.

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Investor Relations: Peter Laipnieks, President 1-877-611-7111

Spirit Exploration, Inc. Creates Wholly Owned Subsidiary in Ecuador, Appoints Veteran Mining Professional as President and Creates Advisory Board

May 9, 2007 Vancouver, BC: Spirit Exploration, Inc. (SPXP: Pink Sheets) Spirit Exploration today announced the creation of Mineras Ecuador Gold Corp. SA, a wholly owned subsidiary, based in Machela, Ecuador. Roger McClay has been appointed President to oversee property acquisitions and development in Ecuador. Mr. McClay has over 30 years of experience in international resource exploration and development, acquisitions and mergers. Mr. McClay is President of Rioro Mining Corp., engaged in exploration and mining development in Ecuador.

Duncan Bain and Allan J. Beaton have joined the advisory board of Spirit Exploration.

Mr. Bain is a qualified Professional Geoscientist, experienced in exploration and mining. Since 1975, he has worked on several major exploration projects around the world and has produced over 100 engineering reports. He is currently a doctoral candidate at the University of Western Ontario, working to complete a Ph.D. in Geology. Mr. Bain runs his own mineral exploration and consulting company.

Allan J. Beaton – P. Eng., is a senior Mining Engineer with 35 years of professional mining experience in both large and small operations. Mr. Beaton has vast experience in underground operations including 7 years as mine manager of Erickson Gold Mines. He also served as President and Director of CanAfrican Metals and Mining Corp a TSX-V company. Mr.Beaton is currently President of A.J. Beaton Mining Ltd. and Vicore Mining Developments Ltd.

Peter Laipnieks President of Spirit Exploration stated, ‘Given that our growth strategy is so heavily focused in Ecuador it was only sensible that we concentrate our presence and management oversight there. I am delighted that we have enticed Roger McClay, who is a highly skilled and experienced person, to head our operations in Ecuador. Roger’s talent and extensive knowledge of the Ecuadorian mining community will hasten our objectives. Our aggressive acquisition strategy will also be greatly enhanced with the expertise brought by Duncan and Allan. Their tremendous knowledge and experience will allow us to more readily identify prospective properties and to prioritize our developments.”

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Investor Relations: Peter Laipnieks, President 1-877-611-7111

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