Consolidated Gold Win Ventures Inc.

Consolidated Gold Win Ventures Inc.

January 30, 2007 21:12 ET

Third Tranche of One Million Dollar Financing Completed by CGW President

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 30, 2007) - CONSOLIDATED GOLD WIN VENTURES INC. (TSX VENTURE:CGW)(PINK SHEETS:CGWVF)(FWB:OUH) reports that further to the previous announcement made on Dec 14, 2006 by Mr. Souhail 'Abby' Abi-Farrage, President and CEO of the Company confirming his intention to enter into a Private Placement Subscription Agreement with the Company (the "Agreement"), he has now completed the third tranche at a recent 5 trading day average ending January 30 2007 in a financing where under he has subscribed for a placement of common shares of the Company for an aggregate C$1,000,000.

Under the Agreement, Mr. Farrage has agreed to subscribe to eight (8) bimonthly tranches of C$125,000 each, commencing December 15th, 2006. The third tranche has been accelerated.

Mr. Farrage recently stated, "I plan this ongoing market-priced investment in Consolidated Gold Win Ventures to ensure the company remains adequately financed while pursuing its drilling and exploration programs for gold, copper and other minerals on its Dolly Varden property in Elko County, Nevada and CGW's other properties."

The units shall comprise 1 common share and 1 share purchase warrant for the purchase of 1 further share exercisable at the price of $0.15 per share having a term of 2 years from the date of issuance. The placement common shares and warrants will be subject to certain mandated hold periods and resale restrictions and the certificates representing such Shares will be legended accordingly.

Each of these bimonthly tranches will be subject to regulatory approval.

The company also wishes to update shareholders in regards to the on going drill program at Dolly Varden. Kettle Drilling Co. is continuing to drill assigned targets despite unusual sub-zero temperatures which have hampered operations. Although extreme temperatures have increased drilling costs 3 fold, Mr. Farrage is committed to keep the drill turning and continue delineating the extent of mineralization at the Dolly Varden property without pause.

The assay results from the third drill hole completed are expected shortly.

About Consolidated Gold Win Ventures

CGW is a progressive and rapidly advancing junior exploration company with interests in Nevada - South Dolly Varden Gold Copper claims, British Columbia - Yeti Gold claims, North West Territories - Drybones Diamond properties, Quebec - Raglan Platinum Group Metal claims.

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Contact Information

  • Consolidated Gold Win Ventures Inc.
    Shareholder Relations
    (778) 994-6453
    Consolidated Gold Win Ventures Inc.
    Abby Farrage
    (604) 671-4718
    Consolidated Gold Win Ventures Inc.
    Souhail 'Abby' Abi-Farrage
    President and Director
    (604) 671-4718