American Consolidated Closes Sierra Rosario Acquisition

Further to its press release dated May 11, 2011, and TSX Venture Exchange
acceptance, American Consolidated Minerals Corp. (the "Company") (TSX
VENTURE:AJC) is pleased to report that it has closed the transaction with
Sparton Resources Inc. ("Sparton") for the acquisition of Sparton's 50% interest
in the 500-hectare Sierra Rosario Property ("Sierra Rosario"), located in the
state of Sinaloa, Mexico (the "Acquisition"). International Northair Mines Ltd
(TSX VENTURE:INM) is the owner of the other 50% of Sierra Rosario and the
project operator. 


The Company and Sparton have agreed to amend the schedule of payments as
stipulated in the original agreement, such that the Company will complete the
aggregate purchase consideration of $500,000 and 500,000 common shares by March
1, 2012, with terms as follows:




a.  On or before August 4, 2011, a cash payment of $100,000 and the delivery
    of 250,000 shares of American Consolidated; (paid and shares issued) 
b.  on or before September 1, 2011, a further payment of $100,000; 
c.  commencing October 1st, 2011 and on or before the first day of every
    month thereafter, a monthly payment of $50,000 until an aggregate cash
    payment of $500,000 is completed. For further clarity, the last monthly
    payment of $50,000 shall be made on or before March 1, 2012. 



In consideration of amending the cash payment terms as requested by the Company,
Sparton will receive a further cash payment of $30,000 when the Company
completes the acquisition of the 50% interest in Sierra Rosario. The Company has
also agreed that upon completion of an equity financing of a minimum of $1.5
million before March 1, 2012, the amended payment schedule will be accelerated,
such that all unpaid amounts will be due and payable immediately, and the
balance of 250,000 shares of American Consolidated will be issued concurrently,
subject to regulatory approvals. All securities issued pursuant to this
Acquisition will be subject to a four-month hold period.


To complete the initial cash payments required by Sparton and to meet other
property payments required, the Company secured a bridge loan financing of
$250,000 (the "Loan") with a group of lenders comprised of certain insiders. The
unsecured Loan is due and payable in 12 months, with interest payable at 10% per
annum. Pursuant to Exchange policies, the Company has agreed to grant an
aggregate of 625,000 common shares to the lenders as a bonus for extending the
Loan to the Company, subject to Exchange acceptance.


"We are excited about this acquisition as Sierra Rosario represents a
drill-ready property with potential for bulk-tonnage mineable silver-gold
deposits," said American Consolidated Minerals President, Al Fabbro. "With our
joint venture partner's proven and successful exploration experience in Mexico,
we are confident we will move this project forward with positive results for our
shareholders."


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