Consolidated Beacon Resources Ltd.
TSX VENTURE : KBC

Consolidated Beacon Resources Ltd.

November 24, 2006 16:22 ET

Consolidated Beacon Resources Ltd.: Amended Private Placement to $500,000 Cdn

CALGARY, ALBERTA--(CCNMatthews - Nov. 24, 2006) - Consolidated Beacon Resources Ltd. (the "Company") (TSX VENTURE:KBC) is pleased to announce it has increased the previously announced non-brokered private placement to an amended value of Cdn $500,000 at a price of $0.07 per unit. Each unit will consist of one common share and one full warrant, with an exercise price of $0.12 for a period of two years. Proceeds from this financing will be used for general working capital and continued development of its California oil and gas prospect located in the San Joaquin Basin.

About Consolidated Beacon Resources Ltd.

Consolidated Beacon Resources Ltd. is a Calgary, Alberta based corporation in the business of evaluating and acquiring oil and natural gas properties, exploring for hydrocarbons, principally in the Provinces of Alberta, Saskatchewan and Nova Scotia, the Northwest Territories, and the United States.


The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.

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