Mosquito Consolidated Gold Mines Limited

Mosquito Consolidated Gold Mines Limited

May 01, 2007 12:03 ET

Mosquito Stakes Claims at High Grade Molybdenum Project in Idaho

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - The Board of Directors of Mosquito Consolidated Gold Mines Limited (TSX VENTURE:MSQ) wish to report that further to the Company's April 2, 2007 news release, Mosquito has completed the staking of 40 additional claims contiguous to the recently purchased 6 unpatented mining claims near Salmon, Lemhi County, Idaho. The claims, acquired from Paul and Ted Antonoili of Missoula, Montana cover a series of molybdenum-silver-copper bearing quartz veins that range in thickness from 1.5 meters to 18.3 meters (5 to 60 feet). Strike length is in excess of 3 kilometers.

The area called Spring Creek, has been known for many years with several drill hole intersections on the various veins systems. The work was done in 1967 with very little work having been done since. Mineralization consisting of molybdenum and copper with silver, lead and zinc occurs in a series of on echelon northeast trending and northwest trending quartz veins that range in thickness for 1.5 to 18.3 meters (5 to 60 feet). Property examination by Mosquito personnel in the fall of 2006 outlined at least 25 different quartz veins. Some of the veins having been traced on surface for distances up to 3,048 meters (10,000 feet) and have vertical distance in excess of 609 meters (2000 feet). It has been shown by work done to date that veins not only intersect each other at more or less right angles, but some veins converge to a common focal point. The effect of the above on vein widths and values has yet to be fully determined, but there is indication that the convergence of veins to a common focal point produces a large pipe like target.

Four areas of existing mineralization with previous work have been outlined.

Area 1 contains the intersection of two major veins. Vein #1 averages 6.1m (20 feet) wide with values from underground and surface chip samples range from 0.20% to 1.64% MoS2 and Silver from 17 gms/T to 68.6 gms/T (0.50 to 2.00 oz/t). Vein #2 averages 15.2m (50 feet) wide with values from underground and surface chip samples averaging 0.442% MoS2 and 44.6 gms/T (1.30 oz Ag/t).

Trench samples from near the vein intersection gave the following results.

length length MoS2 Ag
Trench ft m % oz/t
a trench 21 6.4 0.300 0.50
a trench 27 8.2 0.534 2.00

Some historic diamond drill holes in the area indicate multiple vein intersections:

length length MoS2 Ag
hole ft m % oz/t
DDH8 38 11.6 0.73 not reported
and 54 16.5 0.68 1.07
DDH9 68 20.7 0.40 0.44
CR8 95 29.0 0.55 not reported
and 54 16.5 0.68 not reported
and 38 11.6 0.73 not reported
CCR 40 12.2 0.28 not reported
And 68 20.7 0.40 not reported

Area 2 contains four parallel veins of which only one has been tested. It is located 800 meters on strike form Area 1. The area between the two is untested.

A trench sample across vein #1 gave the following results

length length MoS2 Ag
Trench ft m % oz/t
b trench 20 6.1 1.104 0.72

Some drill holes in the zone drilling perpendicular to vein direction are:

length length MoS2 Ag
hole ft m % oz/t
DDH1 22 6.7 0.47 not reported
DDH3 21 6.4 0.41 not reported
DDH5 19 5.8 0.35 0.05
DDH6 23 7.0 0.4 0.25
and 19 5.8 0.21 not reported

Area 3 consists of a number of quartz veins that have been exposed by bulldozing, two of which were sampled with the following results:

length length MoS2 Ag
Trench ft m % oz/t
c trench 30 9.1 0.283 1.18
trench 4 1.2 0.122 0.10

Area 4 two major veins, as well as a number of other mineralized quartz veins, several of which converge or intersect in a zone on a hill top 2500 feet above area 3. The main vein is 18.3 meters (60 feet) thick in this area and well mineralized. Examination of the strike and dip of the vein indicate that it would be impossible to connect this vein with the ones on the hilltop unless there is a distinct direction change or fault. Surface trench results indicate

length length MoS2 Ag
Trench ft m % oz/t
d trench 73 22.3 0.178 0.71
e trench 153 46.6 0.127 0.85
f trench 40 12.2 0.575 0.44
g trench 14 4.3 2.010 4.10

Overall the previous work discovered to date indicates an extensive area, cut by large up to 18.3 meters (60 feet) well mineralized veins that have never been properly mapped and analyzed. Previous work focused on surface exposed small sections of individual veins only.

Mosquito intends to pursue the property as a high grade underground mining opportunity and will start with surface mapping and sampling of all the trenches and underground workings, followed by drilling of the outlined targets. The project is located only a couple of hours drive from Mosquito's CUMO project.

Currently, at the CUMO project, Dr. Matt Ball is sorting and organizing over 2,000 sample rejects from the previous AMAX 26 hole drill program. Initially one out of every ten of these samples is being sent for check assay to confirm the grades reported by AMAX. In addition, the samples will be analyzed for rhenium, gallium and indium which were not previously assayed. These metals along with copper and silver, could prove extremely significant in making CUMO a low cost producer. It is the intention to use the AMAX drill holes and the initial 4 to 6 holes drilled this season, in a 43-101 complaint resource calculation. Mosquito has arranged for two diamond drills for the upcoming season. The initial drill will be mobilized to the property within the next 3 to 4 weeks depending on the snow conditions at CUMO and the delivery of ordered drill parts. The second drill would be scheduled 4 to 6 weeks later. In addition, a Company owned air rotary rig, when it is finished the current drilling at Pine Tree, will be brought to CUMO to pre-drill the upper 500 feet, this will substantially speed up the diamond drilling.

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


Mosquito Consolidated Gold Mines Ltd.

Brian McClay, President

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

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

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