Consolidated Goldfields Retains Gold Seek LLC for Corporate Communications and Announces Bonus Program

RENO, Nev.--()--Consolidated Goldfields Corp. (“Consolidated” or the “Company”) (OTCQX: CDGF) announces that as of February 13, 2013, the Company has engaged Gold Seek LLC (“Gold Seek” or “GoldSeek.com”) to provide corporate communications and development services to the Company. Gold Seek, located in Littleton, Colorado, will assist the Company in expanding its corporate communications in order to raise awareness among prospective investors and the investment community as a whole.

“Consolidated Goldfields’ portfolio of Nevada and California gold and silver projects hold significant value and potential for big discoveries,” says Peter Spina, President of GoldSeek.com. “As a long-time investor in Consolidated, I believe that Cahuilla, which Consolidated has a 35% ownership stake, alone holds a multi-million ounce potential with ongoing drilling continuing to grow the current indicated mineral resource of 1.2—1.5 million gold ounces. Now with Fisher Canyon drilling underway, I believe that Consolidated has a very exciting period ahead. We look forward in assisting their market awareness which will include visiting their projects to expand upon our research.”

As consideration for services provided to the Company by Gold Seek, the Company granted options to Peter Spina to acquire an aggregate of 150,000 shares of the Company’s common stock.

In addition, as of February 11, 2013 the Company has also granted options to acquire an aggregate of 350,000 shares of the Company’s common stock to the following persons as consideration for services provided to the Company: 100,000 to Thomas K. Mancuso, Director; 100,000 to Kim Neal, Vice President of Finance; 100,000 to Lane A. Griffin, Vice President of Exploration; and 50,000 to John Reynolds, Director. The options were issued at a strike price of $0.35 per share and are immediately exercisable.

Consolidated also issued 300,000 restricted shares of its common stock as consideration for services to the Company to Peter Leger, Director, and 150,000 restricted shares to Marc J. Andrews, President, Chief Executive Officer, and Director of the Company. Consolidated also transferred 150,000 shares of Teras Resources Ltd., previously owned by it to Mr. Andrews in consideration for services he provided to the Company.

Pending the receipt in September 2013 by the Company of common stock of Teras Resources Inc. under the Exploration and Earn-In Agreement between Teras Resources Inc. and Consolidated, dated September 14, 2011, the Company approved the following additional bonuses: 50,000 nonqualified stock options of the Company to the members of the Board of Directors; $15,000 cash bonus to each of Kim Neal and Lane A. Griffin; 300,000 shares of Consolidated to Peter Leger; 150,000 shares of Consolidated and 150,000 shares of Teras Resources Ltd. to Marc J. Andrews; and 150,000 shares of Teras Resources Ltd. to Thomas K. Mancuso.

About Consolidated Goldfields Corp.

Consolidated Goldfields Corp. is a junior gold-silver company directed by a management team that is experienced in all aspects of mining including exploration, development and operations for both major and other junior mining companies. The Company’s assets consists of nine precious metals projects that are situated in Nevada and California. The Fisher Canyon Gold Project, located in Pershing County, Nevada, is the new flagship property and the main focus of the Company.

For more information on the Company, please visit our web site at www.consolidatedgold.com.

Contacts

Consolidated Goldfields Corp.
Marc J. Andrews
President/CEO
(775) 461-2545

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Contacts

Consolidated Goldfields Corp.
Marc J. Andrews
President/CEO
(775) 461-2545