Consolidated Global Minerals Ltd.

Consolidated Global Minerals Ltd.

November 06, 2006 15:13 ET

Consolidated Global Minerals Ltd.: Additional Stope Development Assays

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 6, 2006) - Consolidated Global Minerals Ltd. (TSX VENTURE:CTG)(FWB:DFP) (the "Company") is pleased to announce that Matt Collins, Manager, Cash Mine directed Jim A. Paschis, Geologist, Cash Mine to collect and have Loring Laboratories Ltd. ("Loring") assay samples from the newly developed stope on the Freiburg vein on the 3rd level and other locations in the Cash vein. These 15 samples include 10 from the base of the stope being developed on the Freiburg vein striking N20E between ore chutes 1, 2, 3 and 4. These were collected over a strike length of 74 feet and an elevation range of 12 to 29 feet above the 3rd level track. The stope currently has broken through to the 2nd level but assay sampling has only started upward in the vertical dimension at this time. Four other samples were taken from exposures of the Cash vein. One other sample, was from the sump of the diamond saw. These locations were sampled to give an indication of gold and silver mineralization; they are not statistically distributed for ore reserve calculation purposes.

The assays determined gold and silver. All samples were cut in-situ using a diamond saw to provide a more consistent channel cut as opposed to using a chisel and hammer. Those sampling sites in developed areas were marked using a numbered brass tag which correlates to the assay sample number. Those sample locations in the Freiburg stope were subject to progressive development and could not be marked with brass tags because this muck was shipped to the Cash mill. The sampling was made across the mineralized vein exposures and partially adjacent altered Boulder Creek Granite host rock.

The results by Loring are supplemented with information in the table below. Sample numbers 451 through 455 and 496 through 500 are generally along the strike of the Freiburg vein. Samples 492 through 495 are from the Cash vein intended to infill locations described in the previous NOTES. The final sample is from diamond saw cuttings assayed for a representation of mineralization from all drill core and selected veins intersected during 3rd level development from 2004 through 2005. These sample locations are plotted on 1" to 10' geologic maps and cross sections, described in the Assay Sample Descriptions & Locations log book and also described in the Loring assay tag record booklet.

Sample Cut Elevation Gold Silver Notes
No. (in.) (ft msl) oz/ton oz/ton (Dist. in feet from SSE end of
Freiburg stope base under
current development on 3rd
451 10 7,860 33.984 15.12 Freiburg vein @ 58 ft
452 19 7,864 .260 .65 Freiburg vein @ 82 ft
453 10 7,868 .557 10.79 Freiburg vein @ 74 ft
454 1 7,865 3.404 40.95 Freiburg vein E split @ 65 ft
455 10 7,852 2.630 3.92 Freiburg vein @ 12ft
496 6 7,856 29.083 7.21 Freiburg vein @ 46 ft
497 20 7,953 .273 5.92 Freiburg vein @ 39
498 6 7,853 .370 1.22 Freiburg vein W split E @ 0 ft
499 11 7,855.5 .073 .51 Freiburg vein W split W @ 0 ft
500 10 7,856 .247 1.76 Freiburg vein @ 59 ft
492 3 8,017 8.881 2.87 Cash vein @ vent portal landing
493 5 8,015.5 .156 .89 Cash vein @ vent portal landing
494 5 7,843 .382 1.60 Cash vein @ CP 308R +12' ft E
495 10 7,842 .112 .62 Cash vein @ CP 308R +3 ft E
456 300
grams n.a. 2.360 11.93 Diamond saw cuttings 2004-05

Check assays were run for samples 451 (Freiburg vein) and 492 (Cash vein). Assay values were 32.564 oz/ton Au, 15.30 oz/ton Ag and 8.721 oz/ton Au, 3.09 oz/ton Ag, respectively.

George W. Heard B.Sc., (Mining Engineering), MBA, P.Eng and the President and CEO of the Company is the Qualified Person who has reviewed and approved the technical disclosure of this news release.

Consolidated Global Minerals Ltd. is a Canadian-based company with a focus on the acquisition, exploration and development of mineral property interests.


George W. Heard, President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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