Vancouver, B.C. – American Consolidated Minerals Corp. (“American Consolidated” or the “Company”) announces that it has settled on terms to undertake a private placement with Global Resources Investments Ltd. (“GRIL”) an arm’s length party to the Company. American Consolidated is seeking to raise $240,000 through the sale of 2,400,000 common shares at $0.10 per share.

GRIL has been established to exploit investment opportunities in junior mining and natural resources sectors worldwide, with an investment objective to generate medium and long-term capital growth.

GRIL will re-register as a public company and be constituted as an investment trust with the name Global Resources Investment Trust plc (“GRIT”) and seek admission of its ordinary shares on the main market for listed securities on the London Stock Exchange.

In consideration for acquiring the shares of American Consolidated, GRIT will issue and deliver to the Company 144,543 ordinary shares of GRIT at £1.00 per share (the “GRIT Shares”). American Consolidated will then sell the GRIT Shares through the facilities of the London Stock Exchange to realize the private placement proceeds, which will be applied towards working capital and property maintenance.

A finder’s fee in the form of common shares will be payable to Jordan Capital Markets Inc. for introducing the Company and assisting in negotiating the transaction with GRIT.

Closing of the transaction is subject to a number of conditions precedent, including approval of the TSX Venture Exchange, and GRIT successfully listing on the London Stock Exchange.

American Consolidated is dedicated to the principles of environmentally sound mining practices and believes that environmental stewardship and mining can co-exist.

For details on the Company and its properties, visit the Company’s website at www.americanconsolidatedminerals.com.

ON BEHALF OF THE BOARD
Signed “Robert Eadie”
Robert Eadie, Director

For further information, please contact Robert Eadie.
Telephone: 1-604-602-4935 / Toll Free: 1-866-602-4935
Facsimile: 1-604-602-4936 / Website: www.americanconsolidatedminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements set out in this News Release constitute forward-looking statements. Forward-looking statements (i) are often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate”, or “will”, and similar expressions; (ii) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties, or upon the opinions, expectations and estimates of management of the Company as at the date the statements are made; (iii) are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. In particular there is no assurance that (i) the Company will be able to close the proposed share swap with GRIT on the terms outlined above, or at all; (ii) that the Company will realize at least £1.00 per GRIT share upon the sale thereof; and (iii) the Company will realize proceeds from the sale of the GRIT shares in a timely manner. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking statements of the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement.