8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                Date of Earliest Event Reported: October 21, 2010


                          SPECTRAL CAPITAL CORPORATION
                         ------------------------------
             (Exact name of registrant as specified in its charter)


             Nevada                 000-50274               51-0520296
- ----------------------------  --------------------   ---------------------------
(State or other jurisdiction    (Commission File       (IRS Employer Identi
       of incorporation)             Number)             -fication Number)


                 701 Fifth Avenue, Suite 4200, Seattle, WA 98104
                 -----------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)


                                  (888)366-6115
                                 ---------------
               Registrant's telephone number, including area code


                       ----------------------------------
          (Former name or former address, if changed since last report)

         Check the  appropriate  box below if the Form 8-K filing is intended to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:


[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[ ] Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c)





                 SECTION 5 - CORPORATE GOVERNANCE AND MANAGEMENT

Item 5.02 - Departure of Directors or Certain  Officers;  Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Chief Financial Officer and Director

On October 21, 2010,  Spectral Capital Corporation ("the Company") appointed Mr.
Stephen  Spalding  as its new Chief  Financial  Officer and as a Director to its
Board of Directors.

In return for his  services,  Mr.  Spalding  was issued  1,000,000  in  options,
exercisable  into shares of the Company's  common stock at $1.00 per share.  The
option begins to vest after 12 months,  starting  October 31, 2011, at a rate of
200,000 shares per year. The option has a term of 5 years.

Mr. Spalding has his MBA, Qualitative Analysis from the University of Arizona, a
B.S. in Finance and Management,  B.S. Physics (solid state),  B.S.  Mathematics,
all from Eastern Illinois  University.  Mr. Spalding's  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 13 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). For the last 15 years he has been 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).



                            SECTION 7. REGULATION FD

Item 7.01 Regulation FD.

Press Release

The  information in this Item 7.01 of this Current Report is furnished  pursuant
to Item 7.01 and shall not be deemed "filed" for any purpose,  including for the
purposes  of  Section  18 of the  Exchange  Act,  or  otherwise  subject  to the
liabilities of that Section.  The information in this Current Report on Form 8-K
shall  not be  deemed  incorporated  by  reference  into any  filing  under  the
Securities  Act or the  Exchange  Act  regardless  of any general  incorporation
language in such filing.

On October 25, 2010, the Company  issued a press release.  The text of the press
release is attached herewith as Exhibit 99.1.




                                       2







                   SECTION 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
 (d) Exhibits.
The  following  is a complete  list of  exhibits  filed as part of this  Report.
Exhibit  numbers  correspond  to the numbers in the exhibit table of Item 601 of


Regulation S-K.
   Exhibit No.                                                   Description

       99.1             Press Release dated October 25, 2010*

     *Filed herewith.























                                       3








                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.



                                               SPECTRAL CAPITAL CORPORATION




                                               By: /s/ Jenifer Osterwalder
                                                   -----------------------------
                                                      Jenifer Osterwalder,
                                                        Chief Executive Officer


                                               Date: October 28, 2010


















                                       4

EX-99.1

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