Consolidated Spire Ventures Ltd.

Consolidated Spire Ventures Ltd.

March 22, 2007 09:00 ET

Consolidated Spire Ventures Ltd.: Preparation for Diamond Drill Program Continues on the Yago Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2007) - Consolidated Spire Ventures Ltd. ("Spire") (TSX VENTURE:CZS) is pleased to announce that geological field work continues, in preparation for the diamond drill program, on the Yago gold-silver Property, located in Mexico and optioned from Almaden Minerals Ltd. (TSX:AMM) ("Almaden").

Victor Jaramillo, P.Geo., Exploration Manager for Consolidated Spire Ventures is on site supervising and organizing field work. The work program thus far has included rehabilitation of access roads, the preparation of access to drill pad locations, the clearing of brush to better expose major quartz-gold-silver veins and geological prospecting. A new mineralized section of quartz vein outcrop along the Magnolia has been discovered along strike for approximately 100 meters. This new area is now being sampled.

A survey crew is on site preparing a detailed topographic base map that will include surveying the Magnolia and Esperanza Veins. At this time, the Company is in the process of securing permits with land owners and the Mexican ministry of mines in anticipation of the upcoming planned drill program.

Soon after the above work is completed, Spire plans to initiate a preliminary diamond drill program to test two of the main mineralized structures (veins) at depth. The diamond drill program will consist of an initial 2,000 meters to be drilled under an unexplored area of the Magnolia Vein and to depth to test below a well mineralized open ore shoot at the Esperanza Vein. A QA/QC program will be in place at the time of drilling.

The Yago Property is located in the state of Nayarit, Mexico, on the Pacific coast approximately 50 kilometres north of the city of Tepic. The Property comprises 16 claims that total approximately 2,731 hectares. It lies within the coastal lowlands of the West Coast of Mexico.

The Qualified Person for the technical portion of this news release is Mr. Victor Jaramillo, P.Geo.

About Consolidated Spire Ventures Ltd. Spire is actively exploring two other projects: the Prospect Valley Gold Property near Merritt, British Columbia, Canada and the Campanario Gold-Silver Property, Oaxaca State, Mexico.

The Prospect Valley Gold Property, located three hours driving time from Vancouver, is road-accessible from Merritt, BC, which is a regional transportation and supply centre. The property is in close proximity to good infrastructure and is located south of the large Highland Valley porphyry copper district and immediately west of the Craigmont iron-copper skarn deposit. The 3500 metres by 400 metres RM/RMX gold zone is part a low sulphide epithermal system and is a primary open pit gold/silver target.

The Campanario Gold-Silver is a bulk tonnage gold target located approximately 25 kms southwest of Oaxaca City, Mexico. Currently this property is the subject of an option agreement with Almaden Minerals Ltd. (AMM-TSX) ("Almaden"), whereby Spire can earn a 60% interest by expending $3.5 million in staged exploration expenditures, and giving Almaden a total of 500,000 shares of Spire over a five year period. After which a joint venture will be formed between Almaden and Spire to further explore the property.


Brian Buchanan, President and Director

This Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

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

Contact Information

  • Consolidated Spire Ventures Ltd.
    Brian Buchanan
    President and Director
    (604) 662-7455
    (604) 683-1055 (FAX)