January 30, 2008 12:19 ET

Spur Ventures-Hebei Tianren Merger Update

All amounts are expressed in $US unless otherwise stated

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2008) - Spur Ventures Inc. (TSX:SVU) ("Spur" or the "Company") announced today that Spur and Hebei Tianren ("Tianren") remain in discussions regarding the merger even though the formal agreement expired on December 31, 2007.

"There are two events, which taken together, have introduced uncertainty into our merger," Dr. Robert Rennie, Spur's President & CEO stated.

First, the Chinese Ministry of Commerce (MofCom) has yet to approve any share swap under the new law introduced in September 2007 and is unable to give any indication when approval may be received from the Chinese Security and Exchange Commission for Tianren to exchange their shares for Spur shares in this contemplated acquisition and merger.

Second, the takeover of Chinese National Chemical Construction Corporation (CNCCC) by China National Overseas Oil Corporation (CNOOC) has resulted in restructuring and management changes at Sino Arab Chemical Fertilizer Company (SACF) delaying renewal of SACF's supply agreement for 1.0 million mt NPK with the Agricultural Franchise Company which Spur was to acquire. Without a secure supply agreement from SACF, the Ag Franchise Company would risk not having a supply of NPK fertilizers to sell.

Spur will take a charge of approximately $500,000 related to the previously capitalized costs of due diligence related to this proposed merger.

While there remains a possibility that the merger will proceed, Spur is in advanced discussions on other initiatives.

Spur intends to be the Fastest Growing Integrated Supplier of Plant Nutrients for the Chinese Farmer

This news release includes certain statements that may be deemed to be "forward-looking statements" regarding the timing and content of upcoming programs. Although Spur Ventures believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include phosphate and potash prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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