Vancouver, British Columbia, April 30, 2008 - Consolidated Spire Ventures Ltd. (“CZS” or “Spire”) is pleased to report that it has filed, on Sedar, a NI 43-101 compliant technical report on the Prospect Valley Gold Property near Merritt, British Columbia.
The Prospect Valley property hosts low sulphidation epithermal gold mineralization. Quartz veins, hydrothermal alteration and gold mineralization at the Discovery North and South Zones are concentrated in the hanging wall of the Early Fault Zone and are dominated by sheeted to stockwork microcrystalline quartz veins and veinlets and disseminated + vein pyrite over an area approximately 2.5km long by 140m to 230m wide. This extensive area of quartz veins comprises the “target area” for favorable gold mineralization.
The 2007 diamond drill program confirmed the presence of a gold-bearing low-sulphidation type epithermal stockwork mineral system hosted within a hanging wall sequence of amygdaloidal basalt, andesitic basalt and andesite.
To date, most of the 2006 and 2007 diamond drill programs have returned consistent, strongly anomalous to locally economic widths and grades of gold +/- silver mineralization. Drill hole DDH 2006-21 contained 50.6m grading 1.36g/t gold and drill hole DDH 2007-02 contained 66.82m averaging 0.90g/t gold and 5.86g/t silver. These results are of considerable significance, and demonstrate an excellent geological potential for a low-grade bulk mineable target at the Discovery Zone.
A geological potential has been estimated using field data such as geological mapping, soil geochemistry, trenching, sampling, core logging and assaying of 33 diamond drill holes. The following parameters are considered:
(a) a surface width that ranges from approximately 50m to 150m;
(b) a surface continuity (length) along a NNE strike ranging from approximately 1,400m to 2,500m;
(c) a vertical depth, as indicated by diamond drilling, ranging from 50m to 90m;
(d) using an average specific gravity (s.g.) of 2.4; and
(e) considering an average grade range of 0.80g/t to 1.40g/t gold.
From the above, a tonnage range of approximately 1.2 to 81 million tonnes has been estimated. Considering the low-end and the high-end parameters, that would give a geological potential ranging from approximately 220,000 ounces up to 3.7 million ounces of gold.
Cautionary statement: Investors are cautioned that the potential quantity and grade indicated above is conceptual in nature. It has been provided only for illustration purposes. At this time, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of these mineral resources.
To date, over 13 target areas have been identified in the claim block. The majority of these targets are located in the centre of the claim block along a prominent north-northeast trending linear zone that includes the Discovery South Zone and the Discovery North Zone. Some of these are considered priority targets for 2008 onwards.
The NI 43-101 report recommends that early exploration focus on The Bonanza Valley Zone as a priority target area as considerable mineralized quartz float was found during 2002 and a quartz float sample returned 43g/t gold. Elevated gold values were found in rock samples from a rough north-south trend 600m wide and 1,600m long centered on the Bonanza Creek, which coincides with anomalous soil geochemical trends. Logging roads provide easy access throughout this area. Initial exploration work would consist of prospecting, trenching and mapping. If warranted, up to 6 diamond drill holes are recommended.
The Discovery North and South Zones are a priority exploration target. Early diamond drill holes will focus on the Discovery South Zone where large thicknesses of continuous gold grades have been previously identified.
Exploration will also focus on 1:1000 scale geological mapping of the Northeast Extension Zone and the Northeast Trend Zone. Mapping these areas using the map units defined in the 2007 mapping program will help in the targeting of trenches. Mapping in these areas and subsequent trenching should be completed as soon as logistically possible in order to bring these targets to the drilling stage.
It has also been recommended that a resource definition diamond drill program be undertaken in the Discovery Zone as soon as two drill rigs are secured and financing is in place for this work.
The Qualified Person for the technical portion of this news release is Mr. Victor Jaramillo, P.Geo.
The 100% Spire owned Prospect Valley Gold Property is located near Merritt, BC, Canada. Spire feels that the current exploration data, and the planned 2008 drilling on the Prospect Valley Gold Property are extremely important towards outlining this large mineralized trend with excellent potential to become an open pit - low cost target.
Investors are invited to visit the Consolidated Spire Ventures Ltd. Investor Hub at www.agoracom.com/ir/Consolidatedspire where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to CZS@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
If you are not currently on the CZS updates list, please send in your email address to info@spireventures.com or call 604-662-7455 with the best method to keep you informed. We will send out regular updates and news releases to everyone who asks to be on the list.
FOR INFORMATION OR INVESTOR RELATIONS
CONTACT THE COMPANY AT (604) 662-7455
or www.agoracom.com/ir/Consolidatedspire
WEBSITE www.spireventures.com
ON BEHALF OF THE BOARD
“Brian Buchanan”
President and Director
This Company 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.
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