Consolidated Beacon Resources Ltd (C:KBC)
Shares Issued 50,682,165
Last Close 5/7/2008 $0.04
Monday June 30 2008 - News Release

Mr. Richard Hawes reports

CONSOLIDATED BEACON RESOURCES LTD. RELEASES 2007 FINANCIALS

Consolidated Beacon Resources Ltd. has completed its 2007 financial yearaudit and filed its financial statement, and management discussion and analysis(MD&A) on SEDAR. The unaudited financial statement and MD&A for firstquarter 2008 is expected to follow very shortly.

The company has also arranged a non-brokered private placement of up to 20million units at a price of five cents per unit for total proceeds of up to$1-million subject to the approval of the TSX Venture Exchange.

Up to 20 million units will be issued as non-flow-through units consistingof one common share and one full warrant. One full warrant will entitle theholder to purchase one additional common share of the company at a price of 10cents per share for the first year and 15 cents per share in the second year.The proceeds of the private placement will be used for general working capital.

The private placement will be completed after the cease trade order has beenlifted.

The company will focus its resources on the San Joaquin East Sideexploration project in Southern California. Potential drilling locations basedupon the recently acquired 3-D seismic data are now in the selection andpartner-approval stage. The scheduling for drilling, which is expected to startthis summer, is dependent upon securing the appropriate permits, partnerconcurrence and rig availability.

© 2008 Canjex Publishing Ltd.