Exhibit 99.1

Spectral Capital Names Stephen Spalding as Chief Financial Officer
October 25, 2010 2:00 AM ET

Spectral Capital  Corporation,  ("Spectral" or the "Company") (FCCN.OB) (F3SN:F)
is pleased to announce the  appointment of Stephen  Spalding as Chief  Financial
Officer and Director.

Stephen Spalding, MBA, brings over 30 years of extensive experience in executive
management,   corporate   governance,   risk  management,   control  design  and
development.  He has supported early stage companies  throughout his career. Mr.
Spalding's  education  includes:  MBA,  Quantitative  Analysis,   University  of
Arizona;  B.S.  Finance  and  Management,   B.S.  Physics  (solid  state),  B.S.
Mathematics,  all from  Eastern  Illinois  University.  Mr.  Spalding  is also a
frequent guest lecturer at Singapore Management University (SMU) and instructs a
senior/graduate  class in IT Audit and Controls in the Accounting  Department at
San  Francisco  State  University  (SFSU),  for  the  last  fifteen  years.  Mr.
Spalding's  extensive  professional  experience  includes  founding partner with
KPMG's  Information  Risk Management  Practices and served as a partner in their
Strategic  Services & Enabling  Technology  practice for thirteen years. He also
served  as  Regional  Practice  Partner  with  Deloitte  and  Touche's  Controls
Technology  Development & Implementation  and Enterprise Risk Services Practices
for 6 years. As such he had  responsibility for the firm's west coast technology
practice and some of the firm's largest clients (Microsoft, Boeing, Safeway).

"Stephen  brings  to  Spectral  integrity  and a  high  degree  of  professional
experience.  He will provide in depth knowledge in risk management areas as well
as providing solid budgeting decisions. His 19 years of experience with KPMG and
Deloitte  Touche is a great  asset for an early  stage  company to have.  We are
extremely  pleased to have Stephen as part of our  executive  management  team,"
said Jenifer Osterwalder, Spectral CEO.

About Spectral Capital:
Spectral  Capital is focused on the  acquisition  of a significant  portfolio of
properties for mining  activities.  In September 2010, the Company  purchased an
interest in mineral  properties  in the Chita region of the Russian  Federation.
The Kadara and Kaltagay  license is located in the  Mogochinsky  district of the
Chita  Region in the Russian  Federation.  Spectral  owns 47% of the License for
prospecting, exploration and production of gold and all other metals. The length
of the  License  runs to 31 August  2031.  The size of the License is 186 square
kilometers  or 18,200  hectares.  Development  and  exploration  activities  are
currently being undertaken.



Spectral  Capital is a US based  publicly  trading  company and is listed on the
OTCBB  as FCCN  and  Frankfurt  exchange  as F3SN.  Spectral  is a Nevada  state
corporation.

PRESS RELEASE FORWARD LOOKING STATEMENT:
This press release  contains  forward-looking  statements (as defined in Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934,  as amended)  concerning  future  events and the Company's
growth and  business  strategy.  Words  such as  "expects,"  "will,"  "intends,"
"plans," "believes," "anticipates," "hopes," "estimates," and variations on such
words  and  similar   expressions  are  intended  to  identify   forward-looking
statements.  Although the Company  believes that the  expectations  reflected in
such forward-looking  statements are reasonable,  no assurance can be given that
such  expectations  will prove to have been correct.  These  statements  involve
known and unknown risks and are based upon a number of assumptions and estimates
that are inherently subject to significant uncertainties and contingencies, many
of which are  beyond the  control  of the  Company.  Actual  results  may differ
materially from those expressed or implied by such  forward-looking  statements.
Factors that could cause actual results to differ  materially  include,  but are
not limited to, changes in the Company's  business;  competitive  factors in the
market(s)  in which the  Company  operates;  risks  associated  with  operations
outside the United  States;  and other  factors  listed from time to time in the
Company's  filings  with the  Securities  and Exchange  Commission.  The Company
expressly  disclaims any  obligations  or  undertaking  to release  publicly any
updates or  revisions  to any  forward-looking  statements  contained  herein to
reflect any change in the  Company's  expectations  with respect  thereto or any
change in events, conditions or circumstances on which any statement is based.

Spectral Capital
Jenifer Osterwalder, 206-262-8007