BELLINGHAM, Wash., June 15, 2004 (PRIMEZONE) -- Golden Spirit Minerals Ltd. (OTCBB:GSPM) has entered into an agreement to acquire a 95% ownership of the Blue Doe Gold Prospect and the June Ellen Gold Prospect consisting of 19 sub blocks covering and area of 19 square miles, located in the northern part of the Ravenswood Batholith in Queensland, Australia.
The Batholith area has been host to gold mineralization and has yielded at least 280 tonnes of gold of which 45 tonnes has been produced since 1974.
The Blue Gold and June Ellen Gold Prospects consist of a number of quartz ribs with an en-echelon pattern hosted by a fractured pink granite (Square Post Granite) with intervening sections between the ribs containing an ill defined network of quartz veins. The free quartz veins contain the gold mineralization, which in part is accompanied by recognizable pyrite cubes and galena. The following are notable characteristics of those prospects:
1. The northeast vein system forming an en-echelon pattern may reflect a pattern of second order fracture system (possibly a north south fault or shear).
2. The amounts of introduced quartz indicate a tensional regimen that may have accompanied a local igneous intrusion. This intrusion produced the heat energy required to drive the hydrothermal system necessary to produce the base mineralization and the attendant gold mineralization.
3. The quartz of the mineralizing system is derived from the alteration of the granite host rock in depth.
4. The mineralization, as indicated by assay, is low in arsenic and or antimony and contains a relatively high lead content (in terms of 1000 ppm or more) suggesting a deep level igneous structure of possibly basaltic source.
5. It would not be unexpected for the nature of mineralization to become more sulphidic with depth and hence possible increase in gold values.
The Company will be initiating a work program consisting of sampling, trenching and extensive technical evaluation of previously documented mineralization in the area.
In addition, James Barker, the Geologist retained by the Company has completed his report on the Ester Creek, Alaskan properties. A July 2004 work program is scheduled based on the report and will be outlined and announced shortly.
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
For further information contact Joseph Beyrouti at: 1-888-488-6882 Visit our web site at www.goldenspirit.ws
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.