Spur Ventures Announces Granting of Extension to Complete Zhong Chuan Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2008) - All amounts are expressed in Canadian dollars

Spur Ventures Inc. ("Spur" or the "Company") (TSX: SVU.TO)(OTCBB: SPVEF.OB) announced today that Spur has agreed to grant Zhong Chuan International Mining Holding Company Limited ("Zhong Chuan") an extension until September 26, 2008 to complete the financing announced in the Company's April 14, 2008 press release. Zhong Chuan has asked for the additional time in order to deal with technical and procedural issues in China that have resulted in delays in the transfer of funds to Canada. The Toronto Stock Exchange has approved the extension.

Zhong Chuan has confirmed its continued commitment to the completion of the financing, which includes an initial investment by Zhong Chuan of $11.34 million and was approved by 98.6% of the shareholders who voted at Spur's annual general meeting on June 24 of this year.

Spur Ventures Inc. aims to be the premier integrated fertilizer manufacturer in China, with plans to produce up to one million tonnes per year of high-quality compound phosphate fertilizer for domestic consumption in the central province of Hubei, China. These expansion plans include the development of the largest phosphate deposit in China, located near Yichang City.

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 Ventures 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

Dr. Robert Rennie
Spur Ventures Inc.
(604) 689-5564 or Toll Free: 1-877-689-5599
(604) 682-2802 (FAX)
Email: rrennie@spur-ventures.com

Mr. Michael Kuta
Spur Ventures Inc.
(604) 697-6201
Email: mkuta@spur-ventures.com
Website: www.spur-ventures.com