CCM Research Issues Update Report on Consolidated Global Diamond Corp.

TORONTO, ONTARIO .

Consolidated Global Diamond Corp. (TSX VENTURE: CK) is a Canadian based junior mineral company focused on providing sustainable growth and value to its shareholders through the strategic acquisition, exploration and development of diamond properties into productive mines. The Company is committed to successful and sustainable growth through responsible environmental, social, financial, political and operational management of its shareholders' assets.

In the report the analyst states, "Initial results from the Spring 2008 drill program confirmed that the massive diamondiferous crater system (MW93) below Courageous Lake is an extensive multi-phase kimberlitic volcanic eruptive that is up to 1,100 metres across, almost 60% larger than the original 700 metres estimate. Four drill holes totaling 850 metres were drilled during the 2008 spring drilling program."

Regarding cash for continued operation, the analyst notes: "As of June 1, 2008, Consolidated Global Diamond had approximately $3.5 million in cash and short-term investments. Though our burn rate is conservative based on the past six months of cash outflows from operation, we still believe the cash balance should be sufficient to cover exploration and operating expenditures for, at least, a year."

A free copy of the report can be found at:

http://www.baystreet.ca/articles/research_reports/ccm_research/CK_UpdateReport_June%20112008.pdf

CCM Research is a division of Cronus Capital Markets, Inc. Cronus Capital Markets, Inc., through its CCM Corporate Advisory division, entered into a one year $30,000.00 contract with the Company to assist it with the creation and execution of information-based strategies to overcome market inefficiencies that are commonplace for the vast majority of public companies, including: share illiquidity, lack of credibility, and stagnant market capitalization.

Cronus Capital Markets® (CCM) is a leading capital market services firm providing services to investors, institutions, exchanges, and public companies. CCM's equity research, indexes, and ETFs receive international attention and represent important new sectors of growth.

Cronus Capital Markets, Inc. is the sole source of this press Release.

The TSX Venture Exchange has neither approved nor disapproved the contents of the press release.

Contacts: Cronus Capital Markets Peter Soni Chief Information Officer [phone] ext 225 Email: [e-mail]