SEATTLE, Nov. 20, 2003 (PRIMEZONE) -- Golden Spirit Minerals Ltd. (OTCBB:GSPM) has finalized its agreement with Ester Creek Gold Company, a private Nevada Cooperative, to acquire 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 four square miles.
A winter work program (Phase 1), consisting of the following, is scheduled to commence immediately:
1. Stream sediment sampling
2. Fluid stream sampling at different levels in Ester Creek Flow.
3. Upper drainage sub surface sampling.
4. Lower claim trenching.
5. Placer nugget gold analysis from placer mining of ancient
channel on Ester Creek.
6. Evaluation of mineral trends from adjacent drilling programs.
7. Analysis of historical hard rock mines carrying similar
trenching trends within a 5-mile radius.
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 year-round gold mine is on Pedro Dome.
Infrastructure onsite consists of asphalt roads that are maintained year-round to service the Ester Creek claims, which are just 3.2 miles from the town of Ester, Alaska. This represents tremendous cost savings to the company in terms of access and manpower.
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
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 Minerals filings with the Securities and Exchange Commission.