SOURCE: Golden Spirit Enterprises Ltd.

August 24, 2010 16:05 ET

Golden Spirit Signs Acquisition Agreement and Launches Terralene Fuel at the World Emerging Industries Summit in Changchun, China

NEW YORK, NY--(Marketwire - August 24, 2010) -  Golden Spirit Enterprises Ltd. (OTCBB: GSPT) announces that the definitive agreement regarding the acquisition of all assets pertaining to Terralene Fuels has been completed and duly signed. Under the terms of the agreement, the Company will issue 7,000,000 restricted common shares to Global Terralene Inc. in two phases. In addition, the Company will appoint Don Gress, President of Global Terralene, to the Board of Directors of Golden Spirit.

Golden Spirit's Head of International Business Development, Colin Baker, will be one of the keynote speakers at the World Emerging Industries Summit held in Changchun, Jilin Province, China from August 31 to September 2, 2010.

The subject of Mr. Baker's speech will be the Company's Terralene Fuel, a patented fuel alternative formulation that is the equivalent of 87 octane regular gasoline and utilizes renewable energy sources in 45% of its composition. Terralene's unique fuel reduces greenhouse gas and other environmental damaging emissions and can be easily integrated into the existing fuel infrastructure. The world's Fortune 500 companies attending the Summit will be made aware of its environmental and economic benefits.

Mission Statement:
Golden Spirit Enterprises Ltd. is an environmentally, socially conscious Company specializing in green technologies which will assist in fighting global warming.

/s/ Jaclyn Cruz
Jaclyn Cruz, President

For further information contact: 1-888-488-6882

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Golden Spirit's filings with the Securities & Exchange Commission.

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