Mark,
Yes, spironolactone is a potassium-sparing diuretic. Thats one of the reasons that spironolactone and minoxidil (a postassium channel opener) seemingly work so well in conjunction when applied at the same time. They should not be stored together because they will slowly react with one another (and really stink). spironolactone is an androgen receptor blocker that is active in the form of sprio for about 4 hours, then its metabolised into caneroic acid, a weaker anti-androgen for 4 more. Its generally used twice a day, but could be applied three times, 8 hours apart. Its a good adjunct to the "big 3" in my opinion, or good on its own for those who have problems with propecia.