Mosquito Consolidated Gold Mines Limited
TSX VENTURE : MSQ

Mosquito Consolidated Gold Mines Limited

July 12, 2007 14:56 ET

Mosquito to Conduct Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2007) - Mosquito (TSX VENTURE:MSQ) will carry out a non-brokered private placement of up to 5,500,000 Units to raise up to Cdn$8,250,000. Each unit will consist of one common share and one warrant exercisable at $2.00 for a 24 month period.

Finders' fees of 7% in cash or Units at the election of the finder may be payable on all or a portion of the non-brokered private placement at the same terms described above, concurrent with the brokered offering.

The funds will be used for the purchase of a 100% interest in Kirkness Diamond Drilling Inc. of Carson City, Nevada and to fund the on going drilling programs on the CUMO Deposit in Idaho and the Pinetree Project in Nevada. Exploration and development will also be initiated in 2007 on the Spring Creek Molybdenum Project near Salmon Idaho, the Black Point Gold Project near Eureka Nevada and the recently staked Copper Chief claims near Mina Nevada.

Closing of the transaction is subject to execution of definitive agreements and receipt of all regulatory and Board approval, including acceptance of the TSX Venture Exchange.

On Behalf of the Board

MOSQUITO CONSOLIDATED GOLD MINES LIMITED

Brian McClay, President and Director

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has neither approved or disapproved of the contents herein.

Contact Information

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