SOURCE: Golden Spirit Enterprises Ltd.

April 16, 2007 08:00 ET

Golden Spirit Signs Memorandum of Understanding for Co-Production of Drama Film "The Mists of Time"

BELLINGHAM, WA -- (MARKET WIRE) -- April 16, 2007 -- Golden Spirit Enterprises Ltd. (OTCBB: GSPT) reports that the Company has signed a Memorandum of Understanding with Pentafilms, SARL of France and Beijing Dadu Sunshine Film & Culture Co. Ltd. to co-produce and distribute a film called "The Mists of Time." The film is expected to qualify for certain government grants in France and China.

"The Mists of Time" was written by Mr. Jorge Reyes, who is a well-respected, award-winning French director and producer of numerous documentaries and dramas for over 40 years.

The Company will be co-producing this love story to be filmed mainly in Shanghai, China. This dramatic film is set during the occupation of Shanghai, where two unlikely people meet and fall deeply in love, only to have the bombing of Shanghai and the Japanese invasion destroy everything that they have.

Robert Klein, President of Golden Spirit, states, "The Memorandum of Understanding is the first step towards a formal agreement amongst the three parties. With the acquisitions of the 'Tales of Rain and Magic,' 'Amazing Super Buddies,' 'The Cabin,' 'The Brotherhood of the Phoenix' and now 'The Mists of Time,' the Company is poised to become a serious contender in the movie industry."

/s/ Robert Klein
Robert Klein, President
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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