| March 19, 2010 American Consolidated Announces Non-Brokered Private Placement | |
| Vancouver, British Columbia (March 19, 2010)....American Consolidated Minerals Corp. (the "Company") announces it will conduct, on a best-efforts basis, a non-brokered private placement of 6,000,000 Units at a price of $0.10 per Unit for gross proceeds of $600,000. Each Unit will consist of one common share of the Company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.15 in year one and $0.20 in year two. The net proceeds of the private placement will be added to working capital and will be used to finance the 2010 gold exploration programs for Toiyabe in the Cortez Trend in Nevada and the Lone Ranch Project in Washington State. The private placement is subject to TSX Venture Exchange (the "Exchange") acceptance and required regulatory approvals. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date. A finder's fee will apply in this transaction in accordance with the policies of the 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 "Al Fabbro" Al Fabbro, President & Director 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. | |
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