Spirit Exploration, Inc.
PINK SHEETS : SPXP

Spirit Exploration, Inc.

April 25, 2008 19:22 ET

Spirit Exploration, Inc. Comments on Recent Political Developments in Ecuador

BAKERSFIELD, CALIFORNIA--(Marketwire - April 25, 2008) - Spirit Exploration, Inc. (PINK SHEETS:SPXP) provides the following comment on recent developments following the publication of a new mining mandate adopted by Ecuador's Constituent Assembly on April 18, 2008. The new mining mandate invokes an immediate 180-day suspension of activities on virtually all mining concessions in Ecuador while a new mining law is drafted and adopted. Spirit is awaiting formal notification from the Ministry of Mines and Petroleum of the effects of the mining mandate on the company's operations, as defined in the final provisions of the mandate. Spirit's management is committed to working to create value for shareholders as it continues to monitor the situation in Ecuador. Spirit is seeking further clarification from government officials on how the new mining mandate will be implemented and will provide additional commentary as more detail becomes available.

Due to the negative volatility of the world derivative market and the upheaval in the mining sector in Ecuador, Spirit Exploration, Inc. has suspended its funding negotiations with Quote Platform Syndicate. We are pursuing other avenues of funding and will be updating our shareholders in the very near future.

About Spirit Exploration, Inc.

Spirit Exploration, Inc., a Nevada Corporation, is an exploration stage mining company. Through its 99% owned subsidiary ECUADORGOLDCORP, S.A., Spirit Exploration is 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 also have an option to purchase the Emerson Tungsten Mine near Rachel, Nevada.

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.

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