VANCOUVER, British Columbia, April 17, 2007 (PRIME NEWSWIRE) -- Consolidated Spire Ventures Ltd. (the "Company") (TSX-V:CZS) has received TSX Venture Exchange approval and has now closed the second and final tranche of the non-brokered private placement announced on March 12, 2007 of 880,000 units at a price of 25 cents per unit for total proceeds of $220,000. Each unit consists of one common share plus one share purchase warrant. Each full warrant can be exercised for one common share at a price of 30 cents per share in the first year and $0.35 in the second year. The private placement was over subscribed by 40,000 units.
All the common shares issued pursuant to this unit offering, including share purchase warrants and including shares issued as finder's fees, carry a legend restricting the shares from trading for a period of four months to August 17, 2007.
The proceeds from this placement will be used to implement the advanced exploration program at the Yago Gold / Silver Property in Nayarit, Mexico, the Campanario Property in Oaxaca, Mexico, the Prospect Valley Gold Property in BC and for general working capital.
About Consolidated Spire Ventures Ltd. At present, the Company is focusing on three projects: the 107.9 sq km, 100% owned Prospect Valley Gold Property, located within the Spences Bridge Gold Belt near Merritt, British Columbia, Canada; the 2,731-hectare Yago Gold/Silver Property located in the state of Nayarit, Mexico; and the Campanario Gold/Silver Property located southwest of Oaxaca City, Mexico.
The Yago Gold/Silver Property is located in the state of Nayarit, Mexico, on the Pacific coast approximately 50kms north of the city of Tepic. The property comprises 16 claims that total 2,731 hectares. It lies within the coastal lowlands of the West Coast of Mexico.
The Prospect Valley Gold Property, located three hours driving time from Vancouver, is part of the Spences Bridge Gold Belt near Merritt, BC, which is a regional transportation and supply centre. The property is in close proximity to good infrastructure and is located south of the large Highland Valley porphyry copper district and immediately west of the Craigmont iron-copper skarn deposit. The 3,500m x 400m RM/RMX gold zone is part a low sulphide epithermal system and is a primary open pit gold/silver target.
The Campanario Gold/Silver Property is a bulk tonnage gold target located approximately 25kms east of Oaxaca City, Mexico. Currently, this property is the subject of an option agreement with Almaden Minerals Ltd., whereby Spire can earn a 60% interest in the property.
ON BEHALF OF THE BOARD
"Brian Buchanan"
President and Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.