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Message: KBC- What do we have here???

Re: KBC- What do we have here???

posted on Mar 06, 2009 12:34PM
Consolidated Beacon Resources Ltd. Secures Loan
3/6/2009 4:08:09 PM
VANCOUVER, BC, Mar 06, 2009 (MARKET WIRE via COMTEX News Network) --

Consolidated Beacon Resources Ltd. ("Beacon" or "the Company") (TSX-V: KBC) announces that it entered into a Loan Agreement dated December 2008 with North American Gem Inc. The purpose of the loan is to secure the Company's interest in the San Joaquin Property, California. The principal of the loan is $400,000.00 CDN with interest calculated at 7.5% annually and shall become due in full on March 31, 2009. North American Gem Inc. has registered a General Security Agreement against the personal property of the Company.

The Company and its Partners (the "Partners") began drilling the East Slopes Project in November 2008 and to date four wells have been drilled, with one well currently in production.

About Consolidated Beacon Resource Ltd.

Consolidated Beacon Resource Ltd. is in the business of evaluating and acquiring oil and natural gas properties for exploration and development in Canada and the United States. The Company's shares trade on the TSX Venture Exchange under the symbol KBC.

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