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AJC

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Share Name Share Symbol Market Type
TSXV:AJC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

American Consolidated Closes Private Placement

07/10/2009 5:52pm

Marketwired Canada


American Consolidated Minerals Corp. (the "Company") (TSX VENTURE:AJC) announces
it has closed its previously announced non-brokered private placement, raising
over $1 million for the Company. The offering was over-subscribed and with
regulatory acceptance, the Company issued 21,985,000 Units at a price of $0.05
per Unit for gross proceeds of $1,099,250.


Each Unit consists of one common share of the Company and one share purchase
warrant, each warrant entitling the holder to purchase one additional common
share of the Company at a price of $0.10 for a period of two years.


The net proceeds of the private placement will be added to working capital and
will be used to finance the 2009 gold exploration programs for Toiyabe in the
Cortez Trend in Nevada and the Lone Ranch Project in Washington State.


All of the securities issued pursuant to this offering have a hold period
expiring on February 2, 2010.


An aggregate of $54,425 was paid as finder's fees to various firms with
2,177,000 warrants issued exercisable at $0.10 over a period of twelve months.


American Consolidated is dedicated to the principles of environmentally sound
mining practices and believes that environmental stewardship and mining can
co-exist.


For details on the Company and its properties, visit the Company's website at
www.americanconsolidatedminerals.com.


ON BEHALF OF THE BOARD:

Al Fabbro, President & Director

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