Spur Ventures Announces First Quarter 2010 Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/10/10 -- All amounts are expressed in U.S. dollars, unless otherwise stated

Spur Ventures Inc. ('Spur' or the 'Company') (TSX: SVU)(OTCBB: SPVEF) announced today its results for the first quarter ending March 31, 2010.

The Company posted a net loss of $415,012 ($0.007 per share) in Q1 2010 compared to a net loss in Q1 2009 of $736,039 ($0.012 per share), a reduction of $321,027 (44%).

Net cash used in operating activities for the quarter was $408,505, 21% less than for the same period in 2009 as the Company continued its focus on controlling costs while working on the government approvals for the transfer of the mining licenses. This $260,000 reduction in quarterly operating expenses was largely due to reductions of 61% ($187,512) in wages and benefits and 31% ($18,000) in travel and office expenses.

Spur's cash position remains strong with approximately $23.64 million ($CDN 0.40 per share) in cash and short-term investments as of April 30, 2010 compared to $23.31 million at YE 2009 and $20.87 million at YE 2008.

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 at www.spur-ventures.com.

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

Contacts:

Spur Ventures Inc.

Dr. Robert Rennie

(604) 689-5564 or Toll Free: 1-877-689-5599

(604) 609-9836 (FAX)
rrennie@spur-ventures.com
www.spur-ventures.com