Vancouver, British Columbia....American Consolidated Minerals Corp. (the "Company") announces that it has agreed to settle $103,530.75 in outstanding debt to directors and officers of the Company through the issuance of 2,070,615 shares at a deemed value of $0.05 per share. The debt settlement is subject to approval by the TSX Venture Exchange. Shares issued in connection with the debt settlement will be subject to a four-month hold period.

In conjunction with the debt settlement, certain directors and a company controlled by a director have agreed to forgive $12,000 in fees and $71,680 in office rent and administration costs.

The debt settlement was agreed upon by the Company and its directors and officers in order to preserve the cash being raised in the recently announced private placement, proceeds of which are being earmarked primarily for American Consolidated's planned drilling program for its Toiyabe Property in Lander County, Nevada.

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

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

ON BEHALF OF THE BOARD:

Signed "Gary Arca"
Gary Arca, CFO & Director

For further information, please contact: Bryson Goodwin
Telephone: 1-604-602-4935 / Toll Free: 1-866-602-4935
Email: bgoodwin@imining.com
Facsimile: 1-604-602-4936 / Website: www.americanconsolidatedminerals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

distributed by