Consolidated Global Minerals Ltd.

Consolidated Global Minerals Ltd.

September 06, 2005 12:52 ET

Consolidated Global Minerals Ltd.: Joint Venture Agreement with GrandCru Resources Corporation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 6, 2005) - Consolidated Global Minerals Ltd. (TSX VENTURE:CTG) (Global) is pleased to announce that Global has entered into a letter of intent with GrandCru Resources Corporation (TSX VENTURE:GR) ("GrandCru") whereby Global and GrandCru will contribute certain property interests in Northern Nevada (the "Properties") with a view to forming a joint venture (the "Joint Venture") for the purposes of further exploration and development.

Global will contribute its 100% interests in (i) surface rights and an option to purchase lands covering approximately 600 acres; (ii) mining lease and surface rights and an option to purchase covering approximately 2,920 acres known as the Quarter Circle "S" Ranch Lands; and (iii) 35 claims known as the VN claim Group. GrandCru will contribute its 100% interest in the Danny Boy Claims.

GrandCru will be obligated to make an immediate payment of $2,500, issue 500,000 shares and expend US$1,000,000 on the Properties over a five year period. GrandCru will be the Operator and under the resulting Joint Venture the interests of the parties in the Properties will be 30% to Global and 70% to GrandCru. The transaction is subject to acceptance by the TSX Venture Exchange.

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.

Contact Information