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 additional options to acquire, a diverse range of mineral production and exploration properties in Ecuador.
Mineral Exploration and Development in Ecuador
One of the world’s most exciting mineral resource countries. Spirit Exploration is a newly formed company whose mission is to identify and acquire lucrative mineral resource properties and mines in Ecuador.
SPXP is the largest exploration landholder in Ecuador, with recent acquisitions and options to acquire 21 mineral production and exploration properties totaling more than 100,000 hectares!
100,000 hectares is a metric measurement of land that is the equivalent of nearly 250,000 acres of mineral production and exploration properties!!!
Now here's where SPXP is different than most exploration companies.....they are already pulling gold out of the ground!
In fact, gold production is already underway at one of SPXP's sites at a pace that's projected to produce about $90,000 a week.
Do the math and you'll quickly see that $90,000 a week equals $4,680,000 a year, and that's if production rates stop where they are!
The company plans to use this gold-generated cash flow to quickly upgrade all their mines and milling operations in order to produce 600 tons of high-grade ore per day (TPD).
But as has been made clear by now, nearly everyone expects the price of gold to rise significantly from current levels. (and it has already started!!!)
Press Release Source: Spirit Exploration, Inc.
Spirit Exploration, Inc. Reports the Union Carbide Findings of 6,300,000 Tons of Measured and Indicated Ore Reserves at the Emerson Tungsten Mine in Nevada
Thursday March 6, 12:44 pm ET
BAKERSFIELD, CALIFORNIA--(MARKET WIRE)--Mar 6, 2008 -- On February 20, 2008 Spirit Exploration, Inc. (Other OTC:SPXP.PK - News) announced that it has signed an agreement to purchase the Emerson Tungsten Mine near Rachel, Nevada from Nevada Minerals, Inc. As part of the due diligence process, Spirit has reviewed all the old reports and findings from Union Carbide, the owner of the property when the mine was in production. The most important of these reports was the original Scope Engineering Design Memorandum that detailed the ore reserves, mine design and the process engineering that ultimately led Union Carbide to construct the Emerson Mine and Concentrator at an estimated cost of $25 million. The mill started processing ore at a rate of 1000 tons per day in September 1977. At that time tungsten prices were rising steadily reaching levels of around $155 to $165 per STU by 1981 with occasional short peak to $195 per STU. In August 1981 the world tungsten market suffered a shock. China, with the world's largest tungsten reserves, entered the world market as a major low cost producer. There was also a recession in 1980-1981 and a general reduction in mining and oil drilling, both of which use tungsten carbide tipped drill bits. Furthermore, the US government decided to sell tungsten concentrates and compounds from the Strategic Stockpile. Within weeks the price fell to $100 per STU and within a few months to $32 per STU. After a review of mining costs and market conditions in 1982 the project was placed on "care and maintenance" and the work force was reduced to cover only site security, environmental monitoring, maintenance and related activities. Nevada Minerals acquired the property in August 2004.
Goal Capital LLC
Spirit Exploration, Inc. Acquires 28,000 Acres in Fierro Urco Concessions in the Enormously Productive Loja Province, Ecuador
Friday October 26, 2:53 pm ET
MACHALA, ECUADOR--(MARKET WIRE)--Oct 26, 2007 -- Spirit Exploration, Inc. (Other OTC:SPXP.PK - News) 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. 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.
1 250 384-2077
Goal Capital LLC Dan Gravelle 1-877-887-2118
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