Exhibit 10.10

                       ASSIGNMENT AND ASSUMPTION AGREEMENT

     This ASSIGNMENT AND ASSUMPTION AGREEMENT dated November 26, 2007 (this
"Agreement"), is among Minera Del Pacifico Noroeste, S.A., an Ecuadorian
corporation ("Pacifico"), and ECUADORGOLDCORP., S.A., an Ecuadorian corporation
(the "Assignee"), and Spirit Exploration, Inc., a Nevada corporation ("Spirit).

     WHEREAS, Pacifico is the 100% owner of the mineral properties constituting
the Muluncay Project (the "Muluncay Project").  The Muluncay Project lies in the
centre of the Portovelo-Zaruma mining camp, which is found in the cantons of
Ayapamba and Paccha, Province of El Oro, southern Ecuador. It  is centered at
Latitude 03  36' 30" South and Longitude 79 40' West. It covers an area of 374
hectares.  Boundary co-ordinates for the Muluncay Project are found in Table
immediately below. The specific properties constituting the Muluncay Project are
more fully set forth on Exhibit A hereto.  These are based on a metric UTM grid
system referenced to PSAD-56 datum and geographic zone 17.

                         MULUNCAY BOUNDARY COORDINATES
                         -----------------------------

                           EASTING - M  NORTHING - M
                           -----------  ------------
                           652000            9599400
                           -----------  ------------
                           653100            9599400
                           -----------  ------------
                           653100            9596800
                           -----------  ------------
                           651600            9596800
                           -----------  ------------
                           651600            9599000
                           -----------  ------------
                           652000            9599000
                           -----------  ------------
                           652000            9599400
                           -----------  ------------


     WHEREAS, the properties constituting the Muluncay Project are subject to
certain Mortgage Obligations (the "Mortgages") currently obligating Pacifico to
the payment of certain sums and interest.  The Mortgages are more fully set
forth on Exhibit B hereto.

     WHEREAS, Assignee is a wholly owned subsidiary of Spirit.

     WHEREAS, in connection with that certain Definitive Agreement dated
November 15, 2007, Pacifico agreed to transfer the Muluncay Project subject to
the Mortgages to Assignee in consideration for certain shares of common stock.

     WHEREAS, the Muluncay Project must be assigned first to Assignee, and then
to Cutler Law Group, Inc. as Trustee (which will be accomplished in a separate
agreement) in connection with a financing (the "Financing") currently being
undertaken by Spirit.

     WHEREAS, Assignee desires to acquire the Muluncay Project and assume the
obligations of the Mortgages underlying the Muluncay Project in connection with
the proposed financing.

<PAGE>
For and in consideration of the sum of TEN DOLLARS ($10.00) and other valuable
consideration the receipt and sufficiency of which hereby are acknowledged, and
of the mutual covenants herein contained, the parties hereto hereby agree as
follows:

     1.     Assignment and Assumption.

          a. Pacifico hereby grants, transfers and assigns to the Assignee all
     of the right, title and interest of the Assignor in the Muluncay Project,
     and Assignee hereby assumes any and all obligations related to the
     Mortgages.

          b. Pacifico represents and warrants to the Assignee that Pacifico has
     not taken any action that would serve to impair or encumber the Pacifico's
     ownership interest in the Muluncay Project since the date of acquisition
     other than the Mortgages.

     2.     Representations and Warranties of the Assignor. Pacifico warrants
and represents to, and covenants with, the Assignee that:

          a. Pacifico is the lawful owner of the Muluncay Project with the full
     right to transfer such Muluncay Project, which transfer is made free from
     any claims and encumbrances other than the Mortgages;

          b. Neither Pacifico nor anyone acting on its behalf has offered,
     transferred, pledged sold or otherwise disposed of the Muluncay Project or
     any interest in the Muluncay Project to, or solicited any offer to buy or
     accept a transfer, pledge or other disposition of the Muluncay Project or
     any interest in the Muluncay Project.

          c. Pacifico has been duly organized and is validly existing as a
     corporation in good standing under the laws of the Country of Ecuador with
     full power and authority to enter into and perform its obligations under
     this Agreement;

          d. This Agreement has been duly executed and delivered by Pacifico,
     and, assuming due authorization, execution and delivery by each of the
     other parties hereto, constitutes a legal, valid, and binding agreement of
     Pacifico, enforceable against it in accordance with its terms, subject to
     bankruptcy, insolvency, reorganization, moratorium, or other similar laws
     affecting creditors' rights generally and to general principles of equity
     regardless of whether enforcement is sought in a proceeding in equity or at
     law;

          e. The execution, delivery and performance by Pacifico of this
     Agreement and the consummation of the transactions contemplated hereby do
     not require the consent or approval of, the giving of notice to, the
     registration with, or the taking of any other action in respect of, any
     state, federal or other governmental authority or agency, except such as
     has been obtained, given, effected or taken prior to the date thereof;

          f. The execution and delivery of this Agreement have been duly
     authorized by all necessary corporate action on the part of Pacifico;
     neither the execution and delivery by Pacifico of this Agreement, nor the
     consummation by Pacifico of the transactions herein contemplated, nor
     compliance by Pacifico with the provisions hereof, will conflict with or
     result in a breach of, or constitute a default under, any of the provisions
     of the governing documents of Pacifico or any law, governmental rule or
     regulation or any material judgment, decree or order binding on Pacifico or
     any of its properties, or any of the provisions of any material indenture,
     mortgage, deed of trust, contract or other instrument to which Pacifico is
     a party or by which it is bound;


<PAGE>
     4.     Representations and Warranties of the Assignee. The Assignee
warrants and represents to, and covenants with, Pacifico that:

          a. The Assignee agrees to be bound by all of the terms, covenants and
     conditions of its ownership of the Muluncay Project and from and after the
     date hereof, the Assignee assumes for the benefit of Pacifico all of
     Pacifico's obligations under the Mortgages;

          b The Assignee hereto represents and warrants that it is duly and
     legally authorized to enter into this Agreement and to perform its
     obligations hereunder; and

          c. The Assignee hereto represents and warrants that this Agreement has
     been duly authorized, executed and delivered by it and (assuming due
     authorization, execution and delivery thereof by each of the other parties
     hereto) constitutes its legal, valid and binding obligation, enforceable in
     accordance with its terms, except as such enforcement may be limited by
     bankruptcy, insolvency, reorganization or other similar laws affecting the
     enforcement of creditors' rights generally and by general equitable
     principles (regardless of whether such enforcement is considered in a
     proceeding in equity or at law).

     5.     Covenants of Spirit and Pacifico.

          a. Immediately upon receipt of any funding from the Financing, or upon
     the receipt by Spirit of any funds from any other source for use in its
     operations, Spirit shall immediately pay any and all obligations (including
     without limitation principal, penalties and/or interest) due under the
     Mortgages in full.

          b. Immediately upon full payment of the Mortgages as set forth in
     paragraph 5(a) above, Pacifico shall immediately undertake any and all
     actions necessary or advisable to complete legal transfer of the properties
     constituting the Muluncay Project to Assignee or Cutler Law Group (as
     Trustee). Without limitation to the generality of the foregoing, Pacifico
     agrees to provide whatever title documents, legal opinions, property
     descriptions or other definitive documentation required to formally
     effectuate legal title, to register legal title and/or record in the
     appropriate registration and recording offices transfer of and title to
     such Muluncay Properties set forth therein with Assignee or Cutler Law
     Group, as the case may be, under applicable Ecuadorian law to the
     reasonable satisfaction of counsel to Assignee or Cutler Law Group,
     sufficient to assure that Assignee or Cutler Law Group, as the case may be,
     has full legal right, title and interest to such properties constituting
     the Muluncay Project including without limitation any and all mineral
     rights and mining rights thereto.

     6.     THIS ASSIGNMENT AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF placeStateNEVADA, WITHOUT REFERENCE TO
ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     7.     All demands and notices hereunder shall be in writing and shall be
deemed to have been duly given if personally delivered at or mailed by
registered mail, postage prepaid, or sent by overnight courier to those
addresses set forth opposite the signature page hereto.and/or such other address
as may hereafter be furnished by Pacifico or Assignee.

     8. Each of Pacifico and Assignee, for itself and its successors and
assigns, hereby covenants with the other, its successors and assigns, that such
party and its successors and assigns will do, execute and deliver, or will cause
to be done, executed and delivered, all such further acts, transfers,
assignments, conveyances, powers of attorney and assurances as are necessary to
effectuate the transactions set forth herein.

<PAGE>
     9. This Agreement and the covenants and agreements contained herein shall
inure to the benefit of Assignee and its successors and assigns, and shall be
binding upon Pacifico and its successors and assigns.

     10. This Agreement contains the entire understanding between the parties
hereto concerning the subject matter hereof, and there are no representations,
agreements, arrangements or understandings, oral or written, between or among
the parties hereto relating to the subject matter of this Agreement which are
not fully expressed herein. Neither this Agreement nor any of the provisions
herein shall be modified or waived except by an instrument in writing signed by
each of the parties hereto.

     11.     This Agreement may be executed in counterparts, each of which when
so executed shall be deemed to be an original and all of which when taken
together shall constitute one and the same instrument.

     IN WITNESS WHEREOF, the parties have caused this Assignment Agreement to be
executed by their duly authorized officers as of the date first above written.

ASSIGNEE:

ECUADORGOLDCORP, S.A.


By: \s\ Luis Penaherrera
    --------------------
Luis Penaherrera, General Manager


ASSIGNOR:

MINERA DEL PACIFICO NORESTE, S.A.


By: \s\ Luiggi Lopez
    ----------------
Luiggi Lopez


SPIRIT:

SPIRIT EXPLORATION, INC.


By: \s\ Peter Laipnieks
    -------------------
Peter Laipnieks, President