Consolidated Beacon Resources Ltd.
TSX VENTURE : KBC

Consolidated Beacon Resources Ltd.

December 04, 2006 12:57 ET

Consolidated Beacon Resources Ltd.: Corporate Update

CALGARY, ALBERTA--(CCNMatthews - Dec. 4, 2006) - Consolidated Beacon Resources Ltd. (TSX VENTURE:KBC) (the "Company") announces that the Company has relinquished its non-core Exploration Agreement located in the Masstown area, Nova Scotia, and that the lands have reverted to the Nova Scotia Government.

Beacon has decided to focus its efforts in its San Joaquin East Slope heavy oil exploration project, where the technical risks are believed to be lower and the financial rewards are believed to be higher and achievable sooner.

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 for exploration and development in Canada and the United States.

This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by the Corporation on SEDAR (www.sedar.com), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Corporation undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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

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