LIONEL SAWYER & COLLINS
                                ATTORNEYS AT LAW
                           1100 BANK OF AMERICA PLAZA
                             50 WEST LIBERTY STREET
                               RENO, NEVADA 89501
                                 (775) 788-8666

                                FAX(775)788-8682
                              Isc@lionelsawyer.com
                              www.lionelsawyer.com


                                  June 7, 2007





Aspen Racing Stables
211 Misty Morning Drive
Calgary, Alberta T3Z 2Z8

     Re:  Registration of Common Stock of Aspen Racing Stables

Ladies and Gentlemen:

     We are acting as special Nevada counsel for Aspen Racing Stables,  a Nevada
corporation (the "Company"),  in connection with the registration by the Company
under the  Securities  Act of 1933, as amended (the "Act"),  of shares of Common
Stock,  par value $0.001 per share, of the Company (the "Common  Stock"),  to be
offered to the public under a Registration  Statement on Form SB-2,  relating to
such offering (the "Registration  Statement").  We have not reviewed and express
no opinion as to any  instrument  or document  incorporated  by reference in the
Registration Statement.

     We have examined originals or copies of each of the documents listed below:

          1.   The Articles of Incorporation of the Company;

          2.   The Bylaws of the Company;

          3.   Unanimous  Written  Consent  of the  Board  of  Directors  of the
               Company, dated as of the 1st day of March, 2007, relating,  among
               other  things,  to  the  authorization  of the  registration  and
               issuance of the Common Stock (the "Resolutions"); and,

          4.   The Registration Statement.



Aspen Racing Stables
June 7,  2007
Page 2



     We have  examined  originals  or copies of such  other  corporate  records,
certificates of corporate officers and public officials and other agreements and
documents as we have deemed  necessary or advisable for purposes of this opinion
letter.  We have  relied  upon the  certificates  of all  public  officials  and
corporate officers with respect to the accuracy of all factual matters contained
therein.  In giving the following opinion,  we have assumed that the issuance of
the Common Stock will not exceed the authorized capital of the Company.

     Based upon the foregoing,  and subject to the following,  it is our opinion
that, when (a) the  Registration  Statement has become  effective under the Act;
and, (b) the Common Stock has been issued,  delivered and paid for in accordance
with the terms of the  Resolutions,  the Common  Stock  will be validly  issued,
fully paid and nonassessable.

     The  opinions  expressed  above  are  limited  to the laws of the  State of
Nevada,  including reported judicial decisions.  This Opinion Letter is intended
solely for use in connection  with the  registration  and offering of the Common
Stock as  described  in the  Registration  Statement  and  resales of the Common
Stock,  and it may not be  reproduced  or filed  publicly,  without  the written
consent of this firm;  provided however, we hereby consent to the filing of this
Opinion  Letter as an  exhibit to the  Registration  Statement.  In giving  this
consent,  we do not  hereby  admit that we are in a  category  of persons  whose
consent is required  pursuant to Section 7 of the  Securities Act of 1933 or the
rules and  regulations  of the Securities  and Exchange  Commission  promulgated
thereunder.

                                Very truly yours,



                                LIONEL SAWYER & COLLINS