Consolidated Global Minerals Ltd.

Consolidated Global Minerals Ltd.

January 07, 2005 14:00 ET

Consolidated Global Minerals Arranges $2-Million Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CONSOLIDATED GLOBAL MINERALS LTD.

TSX VENTURE SYMBOL: CTG

JANUARY 7, 2005 - 14:00 ET

Consolidated Global Minerals Arranges $2-Million
Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 7, 2005) - Consolidated
Global Minerals (TSX VENTURE:CTG)

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
DESCRIBED HEREIN.

Consolidated Global Minerals Ltd. has arranged a non-brokered private
placement to raise up to $2-million.

The private placement will consist of five million units at a price of
$0.40 per unit, with each unit consisting of one common share and one
share purchase warrant. The share purchase warrants will be exercisable
for two years at a price of $0.60 per share.

The net proceeds of the financing will be used for general purposes and
to finance Consolidated Global Mineral's continuing exploration programs.

Finder's fees may be payable with respect to certain places in
accordance with the policies of the TSX Venture Exchange.

Consolidated Global Minerals Ltd.

George W. Heard, President

This press release, required by applicable Canadian laws, is not for
distribution to the U.S. news wire services or for dissemination in the
United States, and does not constitute an offer of the securities
described herein.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Consolidated Global Minerals Ltd.
    George Heard
    President
    (604) 632-0085
    (604) 605-0009 (FAX)
    Email: gwheard@cgmltd.com
    or
    Consolidated Global Minerals Ltd.
    Jamie Kelley
    (604) 730-2776
    Website: www.cgmltd.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility or adequacy of this release.