Spur Ventures Announces First Quarter, 2011 Results and Update on Progress in China

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/13/11 -- All amounts are expressed in U.S. dollars, unless otherwise stated.

Spur Ventures Inc. ('Spur' or the 'Company') (TSX: SVU)(OTCBB: SPVEF) announces its results for quarter ending March 31, 2011.

The Company posted a net loss of $290,000 ($0.005 per share) in Q1 2011 compared to a net loss in Q1 2010 of $459,000 ($0.007 per share) mainly due to a $115,000 reduction in Company operating expenses and a $56,000 increase in sales of obsolete inventory and parts at its Yichang Spur Chemicals (YSC) subsidiary in China. Further reductions in depreciation expenses ($35,000) and mineral property costs ($47,000) are due to the Company now reporting under IFRS accounting guidelines where YMC is accounted for under the equity method since May 06, 2010 as Spur is no longer the majority shareholder in YMC as of that date.

Net cash used in operating activities (before working capital changes) for the quarter was $202,000, a 50% ($199,000) reduction from the same period in 2010 reflecting the Company's continued focus on cost control and the IFRS adjustments noted above.

Spur's cash position remains strong with approximately $23.55 million ($CDN 0.38 per share) in cash and short-term investments as of March 31, 2011 compared to $23.34 million at December 31, 2010 and 23.31 million at December 31, 2009.

China Update

Spur's joint venture partner, Hubei Yichang Phosphate Chemical Company Ltd. (YPCC), and YPCC's future owner, Hubei Xingfa Chemical Group (Xingfa), are continuing to work with the Hubei Province authorities to ensure final approval for the acquisition of YPCC by Xingfa. An audit of YPCC, YSC and YMC under the direction of Yichang SASAC is underway as the final stage of the Xingfa-YPCC transaction process.

Both are also working with the Central Ministry of Land and Resources in Beijing on the final stage of the transfer of the Shukongping and Dianiziping mining licenses from YPCC to YMC.

Xingfa has informed Spur that it is still targeting for completion of both the mining license transfers and Hubei Province approval of its acquisition of YPCC soon.

Xingfa's single super phosphate plant in Zhicheng near Yidu City has been successfully commissioned but will not commence commercial operations until the remaining fertilizer plant construction has been completed. The remaining portions of the Xingfa fertilizer complex (DAP, MAP and MDCP plants), which is intended to be vended-in to YMC, remains on schedule to be completed by mid-year, 2012.

New Appointments

Spur is pleased to announce the appointment of Irfan Shariff as Chief Financial Officer and Edmond Tong as Corporate Secretary of the Company.

Mr. Shariff is a Chartered Accountant who came to Spur in July of 2010 after working with the Citigroup mergers and acquisitions group in London He started his career in Vancouver with Pricewaterhouse Coopers. Mr. Shariff has been advising Spur in a corporate development role and will continue in this function with his new role as CFO.

Mr. Tong is a Certified Management Accountant of Canada and Australian CPA with a Bachelor of Social Science (Economics) from the Chinese University of Hong Kong and a Masters in Accounting from the University of Waterloo. He has served as Spur's controller since September, 2007 and will continue to serve in this role.

More information can be found in the audited financial statements and the related notes and the management discussions and analysis of the period filed with Canadian regulators on SEDAR at www.sedar.com and on the company's website: www.spur-ventures.com.

This news release contains 'forward-looking statements'. Forward-looking statements include, but are not limited to, statements with respect to the estimation of mineral resources, the timing and content of upcoming programs, the realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. 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 by the forward-looking statements. Such factors include, among others, risks related to international operations; actual results of planned expansion activities; changes in project parameters as plans continue to be refined; future prices of resources; exchange rates for Canadian, U.S. and Chinese currencies; possible variations in grade or recovery rates, accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; Chinese government policies on fertilizer and agriculture; general economic, market or business conditions as well as those factors discussed under 'Description of the Business - Risk Factors' in the Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements or information made in this press release, except as required under applicable securities legislation.

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

Contacts:

Spur Ventures Inc.

Irfan Shariff

(604) 689-5564
ishariff@spur-ventures.com


Spur Ventures Inc.

Dr. Robert Rennie
rrennie@spur-ventures.com
www.spur-ventures.com