Consolidated Goldfields Corp. announced the results of its geochemical sampling program at the Kibby Flats project, which is 100% controlled by the Company and consists of 240 acres of unpatented claims located approximately 35 miles northwest of Tonopah in Esmeralda County, Nevada. Kibby Flats is located along the southern extension of the Cedar Mountains and is characterized by numerous old workings situated along north-northwest trending fault zones that occur near the contact of Tertiary volcanic tuffs and basement Jurassic age sedimentary and meta-volcanic rocks.

Preliminary exploration conducted on the claims had identified strongly anomalous to ore-grade gold and silver mineralization, as well as highly anomalous lead, zinc, arsenic, antimony, mercury and copper mineralization. No work had been completed on the property for many years until Consolidated geologists collected reconnaissance geochemical samples in the project area during the early 2000s. The majority of rock samples were highly enriched in gold and silver, including two very high grade samples that contained 75.8 ppm silver and 16.75 ppm gold (2.21 opt Ag and 0.489 opt Au), and 106.0 ppm silver and 14.15 ppm gold (3.10 opt Ag and 0.413 opt Au).

These samples confirm the significant precious metal content of this mineralized polymetallic system and also the anomalous enrichment of these metals in adjacent altered zones. A detailed mapping and sampling program will follow to identify potential drill targets.