Vancouver, B.C., October 24, 2008 - Consolidated Spire Ventures (TSX-V: CZS) (“the Company”) is pleased to announce that it has granted incentive stock options (“Options”) to certain directors, officers, employees and consultants to purchase up to an aggregate of 770,000 common shares in the capital stock of the Company exercisable for a period of five years at a price of $0.10 cents per share. The Company is also amending the exercise price of 4,509,000 options to $0.10 cents, which were previously granted to various directors, officers, consultants and employees of the company. The closing price of the Company’s shares was $0.03 cents. The granting and repricing of the options are subject to regulatory approvals.
About Consolidated Spire Ventures
The 100% Spire owned Prospect Valley Gold Property is a low sulphidation gold epithermal system, with quartz vein stockwork type mineralization, located near Merritt, BC, Canada. Road construction to the North and South Discovery Zones is now complete. The construction of the 5.5km (approx.) long road will provide quick access, at significantly lower costs, to the Discovery Zones for geological work including diamond drilling, trenching and mapping. 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. Hole DDH 2006-21 contained 50.6m grading 1.36g/t gold and 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 Zones.
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. A program is planned to continue diamond drilling on the Esperanza, Magnolia and Sagitario veins. Currently, this property is the subject of an option agreement with Almaden Minerals Ltd. (AMM-TSX), whereby Spire can earn a 60% interest. The Property comprises 16 claims that total 2,731 hectares and lies within the coastal lowlands of the West Coast of Mexico.
Spire also has four properties in the states of Guanajuato and Michoacan, Mexico consisting of over 76,800 hectares of prime exploration ground on a recently recognized epithermal gold/silver district: Los Agustinos (31,690 ha), Buenavista (9,200 ha), Las Joyas (32,067 ha), and Santo Niño (3,930 ha). It is the intentions of Spire to explore and farm out the properties to joint venture partners.
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
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
