Goldspan Resources, Inc. Amendment To Terms Of LOI

On May 21, 2010 a letter of intent between Goldspan Resources, Inc. (OTC BB:GSPN) and American Bio Fuels, LLC (“American”) was signed for the acquisition of American’s wholly owned subsidiary Able Energy New York, Inc.

The initial LOI provided for the purchase price to be a combination of convertible debt and the issuance of restricted common shares. The Parties have agreed to amend the initial LOI and have agreed that the purchase of Able Energy New York, Inc. now provides that the Acquisition shall be solely for the issuance of GSPN restricted common shares without issuing any convertible notes or payment of cash.

Further, Able Energy New York, Inc., has engaged the GSPN auditors to complete two years of audits for the years ending June 30, 2010.

Able is a retail distributor of home heating oil in New York State. Goldspan considers this acquisition the first step in its plan to expand its operations through acquisitions, organic growth and integration of distributors in contiguous and new markets.

No stock exchange or Securities Commission has approved nor disapproved the statements in this release. Any statements that are not strictly historical are "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to a number of risks and uncertainties that may affect actual events or results materially. These include, but are not limited to the Company's ability to obtain adequate financing to further its current and future business strategies; the Company's historical lack of profitability; the effects of business and economic conditions generally; and, other risks associated with a development stage company. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.