Mosquito Purchases Private Land at Cumo: 2010 Drilling Program to Start
Vancouver, July 19 2010 - Mosquito Consolidated Gold Mines Limited (Mosquito - TSX Venture: MSQ) is pleased to report that it has entered into an option agreement to purchase 100 acres of private patented mining claims located immediately to the southwest of the CUMO project. The option allows Mosquito to purchase a 100% interest by making three equal payments. Details of the payments are to remain confidential at this time, as other purchases are being examined. The land consists of 8 patented mineral claims that cover the site of the old Baby and Enterprise Mines, which are historic high grade gold producers.
Mining in 1930 produced 177 tonnes grading 70.85 grams gold per tonne (195 tons grading 2.27 ounces gold per ton). The Mine is one of many old gold mines that were found as result of following to bedrock the extensive (>20 miles) of gold bearing placer deposits of Grimes Creek, from which over 3 million ounces of gold were recovered. The upper part of the claim group is located 550 meters southwest of the current Cumo resource area and represents a significant step out. Gold mineralization is believed to be part of the older copper porphyry system that was first outlined during the 2009 drill season..
Mosquito will immediately start road improvements on the claims and then complete at least two holes in the upper north east corner of the property. Depending upon results additional holes may be considered. The holes are designed to not only intersected potential gold bearing quartz veins but also look for the down dip and south western continuation of the main Cumo molybdenum mineralization. Surface examination conducted two years ago by Mosquito geologists did discover molybdenum bearing veins in the immediate vicinity of the upper Baby Mine Adit.
Mosquito is currently awaiting the release of a draft environmental assessment report produced by United States Forest Services that covers the next stage of exploration on the Cumo deposit. The release of the report is expected shortly with a decision on the Environmental Assessment permit expected in early September. The purchase of private land allows Mosquito to start the 2010 drill program while awaiting the final decision on the Environmental Assessment permit.
Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and Director of Mosquito is the designated qualified person for the CUMO Project and prepared the technical information contained in this news release.
On Behalf of the Board
MOSQUITO CONSOLIDATED GOLD MINES LTD.
Brian McClay
President
About Mosquito Consolidated Gold Mines
Mosquito Consolidated Gold Mines Limited is a mining exploration and development company with a diverse portfolio of high potential precious and base metals projects, located in low political risk environments in North America and Australia. The Company's primary focus is developing its Idaho-based CUMO project, one of the world's largest molybdenum deposits, and its Nevada-based Pine Tree copper-molybdenum-silver project. For more information, please visit www.mosquitogold.com
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE does not accept responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the CUMO Project. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.
United States residents are cautioned that some of the information that may be published by Mosquito may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.