Consolidated Spire Ventures Ltd.

Consolidated Spire Ventures Ltd.

February 19, 2007 09:00 ET

Consolidated Spire Ventures Options the Yago Gold/Silver Property in Mexico From Almaden Minerals Ltd.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 19, 2007) - Consolidated Spire Ventures Ltd. ("Spire") (TSX VENTURE:CZS)is pleased to announce that it has optioned the Yago Gold/Silver property in Mexico from Almaden Minerals Ltd. (TSX:AMM)(AMEX:AAU) ("Almaden"). Under the terms of the agreement, Spire has the right to acquire a 60% interest in the property in consideration for undertaking a work program on the property aggregating US$3,500,000 and issuing an aggregate of 800,000 shares to Almaden over a five-year period.

The Yago Gold/Silver property is located in the state of Nayarit, Mexico, approximately 50kms north of the city of Tepic and lies within the coastal lowlands on the West Coast of Mexico. The property comprises 16 claims that total approximately 2,750 hectares or 27sq. kms.

The property is host to the La Sarda and La Tejona quartz-adularia vein systems that have undergone various levels of artisan to small scale mining for gold and silver. Both areas host high-grade gold/silver targets, within which there remain several veins that have yet to be explored. Based on previous mapping, sampling and fluid inclusion studies, the La Sarda -Tejona areas are considered to represent a classic low-sulphidation, epithermal gold/silver vein system with many geological similarities to gold deposits such as the nearby historic Rosario Mine in Nayarit State, Sleeper in Nevada, McLaughlin in California, Hishikari in Japan and Martha Hill in New Zealand.

In the La Sarda area, limited exploration and mining has been carried out on 3 steeply dipping, sub-parallel quartz-adularia veins. The veins vary in width from 1m to 5m and range in length from approximately 800m to 1,500m. Limited exploration on the veins has only been to shallow depths. The deepest mining was at the La Sarda area where veins were developed to approximately 100m below surface. High-grade shoots within the vein structures extend to the lowest levels mined. There is excellent potential for the gold-bearing vein structures to extend to depth.

The spatial position of the veins to the paleo-water table, alteration mineralogy and mineralization indicate that the gold- and silver-bearing hydrothermal system has not been eroded to any great extent, and as a result, the exposed veins on the property are largely intact with potential to extend to depths of 300m or more.

The Company President and CEO, Mr. Brian Buchanan comments: "With the acquisition of this advanced gold/silver Mexican property, we are expecting to complete a significant exploration program, including diamond drilling, before the spring exploration program starts on the Prospect Valley property in Merritt, BC."

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 3,500m by 400m RM/RMX gold zone is part a low sulphide epithermal system and is a primary open pit gold/silver target.

The Campanario Gold/Silver Property is a bulk tonnage gold target located approximately 25kms southwest of Oaxaca City, Mexico. Currently this property is the subject of an option agreement with Almaden Minerals Ltd. (TSX: AMM)(AMEX:AAU) ("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.

To view the locations of claim in the Yago Prospect, Nayarit site, please click the following link:

The Qualified Person for this news release is Victor Jaramillo, P.Geo., Exploration Manager for Consolidated Spire Ventures Ltd.


Brian Buchanan, President and Director

This Company 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.
    Investor Relations
    (604) 662-7455
    (604) 683-1055 (FAX)