VANCOUVER, British Colombia, Oct. 16, 2003 (PRIMEZONE) -- Golden Spirit Minerals Ltd. (OTCBB:GSPM) has entered into an agreement to acquire a 90% ownership of the Ester Creek Gold properties located approximately eight miles northeast of Fairbanks, Alaska. The Ester Creek Mining Claims consist of mining claims over an area of approximately 2,320 acres over (4 square miles).
The property is located on and around a highly mineralized earthern dome structure (Ester Dome) in the heart of the famous Tintina Gold Belt of Alaska. Another mineralized dome (Pedro Dome) located just east of Ester Dome is the location of the now famous Ft. Knox gold deposit and home to the largest operating Gold mine in Alaska. The Tintina Gold Belt has been the focus of extensive gold exploration by many major world-class mining companies over the past decade. During that period, gold resources have exceeded 23 million ounces of gold from ten different deposits located from Ester Dome to Pedro Dome.
Gold was first discovered in Alaska on Pedro Dome with Ester Dome being the second discovery. Since the discovery, the Ester Creek drainage has been the number one producer of gold, second only to a creek in the Brooks Range of Alaska above the Artic Circle. The Ester Mining District has yielded more gold than the rest of Alaska combined, according to the University of Alaska Mining Department, Cyprus Amax's $800 million dollar year round gold mine is on Pedro Dome.
Infrastructure consists of Asphalt roads that are maintained year round to service the Ester Creek claims, which is just 3.2 miles from the town of Ester, Alaska.
The Company will be initiating a Phase 1 work program consisting of sampling, trenching and extensive technical evaluation of previously documented mineralization in the area.
Golden Spirit Minerals Ltd. is focused on building a portfolio of promising gold properties to maximize shareholder value based on the ever-increasing value of Gold.
/s/ Robert Klein ---------------- Robert Klein, President
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