Consolidated Goldfields Announces Share Exchange Agreement

RENO, Nev.--()--Consolidated Goldfields Corporation (“Consolidated” or the “Company”) (OTCQX: CDGF) announced that it entered into an agreement with John A. Swallow and Erin A. Swallow, shareholders of the Company (the “Holders”), on February 3, 2014 to acquire 1,075,000 shares of the common stock of the Company held by the Holders in exchange for 537,500 common shares of Teras Resources, Inc. held by the Company. The Company completed the final steps for consummating the transaction on February 19, 2014. The agreement also contained provisions relating to the voting of any remaining shares of the Company’s common stock owned or controlled by the Holders in accordance with the recommendations of the Company’s board of directors at the Company’s 2014 annual meeting of shareholders and releases related to disagreements between the Company and the Holders over the strategic direction and management of the Company.

Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release, and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “may,” “will,” “would,” “could,” “should,” “seeks,” or “scheduled to,” or other similar words, or the negative of these terms or other variations of these terms or comparable or similar language, or by discussion of strategy or intentions. Such forward-looking statements include, without limitation, statements regarding future business strategy, plans and goals, and other statements that are not historical facts. Forward-looking statements address activities, events or developments that the Company expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. Although management believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. A copy of the Company's report for the year ending December 31, 2012 can be found on the OTCQX website at www.otcqx.com.

Contacts

Consolidated Goldfields Corp.
Marc J. Andrews, 775-461-2545
President/CEO
mandrews@consolidatedgold.com
www.consolidatedgold.com

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Contacts

Consolidated Goldfields Corp.
Marc J. Andrews, 775-461-2545
President/CEO
mandrews@consolidatedgold.com
www.consolidatedgold.com