Mosquito Consolidated Gold Mines Limited
TSX VENTURE : MSQ

Mosquito Consolidated Gold Mines Limited

July 10, 2007 09:00 ET

Mosquito Drills Significant Intersection at Pinetree Including 383.9 Meters (1259.5 Feet) Grading 1.01% Copper Equivalent

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2007) - Mosquito Consolidated Gold Mines Limited (TSX VENTURE:MSQ) -

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Director of Mosquito and Mosquito's qualified person under National Instrument 43-101 has updated the board on the excellent results from the first hole of the 2007 diamond drill program on the Pine Tree Property, Nevada.

PT07-11 located 172.2 meters (565 feet) northeast and 9.6 meters (31.5 feet) higher than hole PT06-10, was completed to a depth of 612.3 meters (2009 feet). It was designed to continue following the thick molybdenum bearing zone intersected in Hole PT06-10 to the north. The drill intersected the thickest section of Molybdenum bearing mineralization and associated intrusive quartz feldspar porphyry seen to date, confirming the geological model of increasing grade and thickness to the north.

Assay results returned include

383.9 meters (1259.5 feet) grading 1.01% Cu Eq. (0.090% MoS2 eq., 1.61 lbs MoO3/T)

Including 113.4 meters (372.0 feet) grading 1.72% Cu Eq. (0.152% MoS2 eq., 2.73 lbs MoO3/T)

Hole 10 intersected (see press release dated January 15, 2007)

234.1 meters (768 feet) grading 0.92% Cu Eq. (0.082% MoS2 eq., 1.47 lbs MoO3/T)

Including 57.0 meters (187 feet) grading 1.09% Cu Eq. (0.097% MoS2 eq., 1.74 lbs MoO3/T)

As can be seen the intersection in hole PT07-11 is thicker and higher grade than the previous hole PT06-10.

The table below lists the location and orientation of the 2006 diamond drill holes. All holes have been surveyed down the hole using a Flex-It survey instrument.



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Hole Northing Easting Elevation dip azimuth Length
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Number feet feet feet degrees degrees feet
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PT07-11 101,774 197,444 7136 -90 000 2009
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Full summary of the analytical results are outlined in Table 1. Mineralization consists of copper, molybdenum, gold, silver, rhenium, indium and gallium. As a result of the multi-element nature of the mineralization, it was decided to calculate both a copper and molybdenum equivalent for the intercepts. Both equivalents are required as the deposit is zoned as described above. See notes below table for explanation of the calculation of copper equivalent (Cu Equiv.), MoS2 equivalent (MoS2 Equiv.). The presence of the by-product elements gold, silver, rhenium, indium and gallium is very significant in terms of the development of the property.

Almost the entire core was sampled and cut in half using a diamond saw. Half the core is sent for analysis with the other half being kept and stored at the core facility located on site. Following cutting the samples are delivered directly by Mosquito personnel to ALS Chemex in Reno, a fully accredited analytical laboratory. They are first analyzed for 47 elements using a four(4) acid digestion with analysis by Inductively Coupled Argon Plasma Optical Mass Spectrometer (ICP-MS) and for gold using a 50 gram fire assay with an Atomic Absorption(AA) finish. Copper and Molybdenum bearing samples are then checked by using a larger 5 gram sample and analyzed using a pressed power pellet X-Ray Fluorescence Spectroscopy (XRF). In addition duplicates, blanks, and standards are analyzed to ensure analytical accuracy and reproducibility. All rejects are being kept for further analysis and for use in metallurgical testing. Results from the quality control and assurance analytical program all show the results to be accurate and reproducible with variations between the original and check assay samples in the +/- 5% range which is quite acceptable.

For core pictures and up to date descriptions of work, please visit Mosquito's web site at www.mosquitogold.com.

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Director of Mosquito is the designated qualified person for the Pine Tree Project, and prepared the technical information contained in this news release.

On Behalf of the Board

MOSQUITO CONSOLIDATED GOLD MINES LTD.

Brian McClay, President

This news release was prepared by management who takes full responsibility for its contents.

Table 1 Summary of significant intersections for Diamond Drill Hole PT07-11.



PT07-11
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Cu MOs2 MoO3
from to length from to length eq. eq. eq.
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feet feet feet meters meters meters % % lbs/t
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average 741 200.5 1259.5 225.9 609.8 383.9 1.01 0.090 1.61
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Including 1097 2000.5 819.5 334.4 609.8 249.8 1.37 0.122 2.19
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1542.0 2000.5 372.0 470.0 609.8 113.4 1.72 0.152 2.73
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Individual elements
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length Cu MoS2 Re Au Ag In Ga
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feet % % gms/T gms/T gms/T gms/T gms/T
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average 1259.5 0.11 0.059 0.10 NA 1.71 0.21 17.99
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Including 819.5 0.16 0.085 0.15 NA 2.30 0.28 18.40
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372.0 0.18 0.114 0.20 NA 1.76 0.28 18.3
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Notes: Copper equivalent (Cu. Eq.) is based on the following metal prices
(all in US$): Copper $2.00/lb, Molybdenum Trioxide ($25/lb), Rhenium
$5.75/gram, Silver $0.32/gram and Gallium $0.425/gram. Other factors
include 1% equals 20 pounds; 1 ppm equals 1 gm/T; 1000 ppb equals 1 ppm
equals 1 gm/T.

Molybdenum is sold as either ferro-molybdenite or molybdenum trioxide
(MoO3). The price used is $25 per pound Molybdenum trioxide. To obtain
the amount of Molybdenum trioxide that can be produced from MoS2, the
following is required: convert MoS2 to Mo by dividing MoS2 by 1.6681
then convert to MoO3 (Molybdenum Trioxide) by multiplying by 1.5. Therefore
the amount of Molybdenum trioxide is pounds MoS2 times 1.5 / 1.6681.

Metallurgical recoveries and net smelter returns are assumed to be 100%

Formulas:
Cu. Eq. equals ((cu x 20 x $)+((MoS2 x 20 x (1.5/1.6681) x $(MoO3))+
(Re x $)+(Ag x $)+(Ga x $))/ $(copper)

MoS2. Eq. equals ((cu x 20 x $)+((MoS2 x 20 x (1.5/1.6681) x $(MoO3))+
(Re x $)+(Ag x $)+(Ga x $))/ ((1.6681/1.5)x $(MoO3))


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

Contact Information

  • Mosquito Consolidated Gold Mines Limited
    Brian McClay
    President
    (604) 689-7902
    (604) 689-7816 (FAX)
    Website: www.mosquitogold.com