Consolidated Big Valley Resources Inc.

March 01, 2005 16:21 ET

Consolidated Big Valley Options Drill Ready (Nickel, Copper) Property in the Timmins Camp, Ontario


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CONSOLIDATED BIG VALLEY RESOURCES INC.

NEX BOARD SYMBOL: CBG.H

MARCH 1, 2005 - 16:21 ET

Consolidated Big Valley Options Drill Ready (Nickel,
Copper) Property in the Timmins Camp, Ontario

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 1, 2005) -
Consolidated Big Valley Resources Inc. ("CBG") (NEX:CBG.H) is pleased to
announce that it has entered into an Option Agreement to acquire a 100%
interest in a Nickel/Copper exploration property located in the Moberly,
Thorburn and Byers Townships-Porcupine Mining Division. The property
encompasses 12 claims - 103 contiguous units covering approximately 4080
acres, located about 37 km NW of Timmins, Ontario; 27 km due west of
Kidd Creek; 30 km east of Falconbridge's Montcalm Deposit and 15 km NW
of the Kamiskotia Lake area.

The Lalonde/Robitaille/Davis ("LRD") property is located in an area with
known massive sulphide (Fe-Ni-Cu) mineralization. The Cominco Deposit
(130,000 tons of 0.73% Ni and 0.68% Cu) is immediately adjacent to the
southern boundaries of the LRD property. The Hollinger Deposit in
Loveland Township (442,000 tons of 0.71% Ni and 0.42% Cu) lies 4 km to
the SSE. The mineral rich (1-2% Ni/Cu) Loveland float field is
approximately 5 km SSE of the LRD property.

The LRD property is continuous to the north of the Cominco, Hollinger
Deposits, geophysical trend. Four MegaTem II anomalies were discovered
during Abitibi Discovery airborne survey flown in 2003. These anomalies
were followed up with ground (HLEM) geophysical survey which produced
two strong conductors striking north/south over 800 metres parallel to
each other, separated by approximately 300 metres. These conductors are
coincident with the MegaTem II anomalies and have never been drilled.
These drill ready targets, with approximately 25 to 30 metres of
overburden will be further investigated with a drill program that will
be announced shortly.

Agreement Terms

Consolidated Big Valley has acquired the option to earn 100% interest in
the property(s) from the vendor(s) Robert R. Robitaille and Douglas
Lalonde of Timmins and Sheldon Davis of Toronto, Ontario, under the
following terms:

(1) As reimbursement of $45,000 in exploration work; 225,000 common
treasury shares to the vendors within five days of Exchange approval;

(2) As further payment within five days of Exchange approval an
additional 250,000 shares;

(3) As cash payment or at the election of CBG to equivalent payment in
shares at a deemed price of $0.20 per share within thirty days of
signing this Agreement and receipt of a 43-101 qualifying report
payments totalling $27,000 to the vendors;

(4) Within one year anniversary of the date of the Agreement: $40,000
cash and 125,000 shares;

(5) Within second year anniversary of the Agreement: additional $80,000
cash and 125,000 shares;

(6) The Vendors shall retain a three percent (3%) NSR with buyout
provisions for 1.5% of the NSR.

A finder's fee of 50,000 shares will be payable in accordance with the
policies of the TSX Venture Exchange. The Option Acquisition Agreement
is subject to regulatory approvals.

ON BEHALF OF THE BOARD OF DIRECTORS

Stuart Tennant, Director

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Consolidated Big Valley Resources Inc.
    Stuart Tennant
    Director
    (604) 683-6648
    (604) 683-1350 (FAX)
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.