MSQ American Cumo Mining Corporation

Mosquito Consolidated Gold Mines Limited (Mosquito) (TSX VENTURE: MSQ) is pleased to report excellent results from the first hole of the 2008 diamond drilling program for its Idaho-based CUMO molybdenum/copper project. The program is under the direction of Mosquito's Senior Geologist and Director, Dr. Matt Ball, Ph.D., P.Geo.

Hole 35-08 is a vertical (-90) hole drilled to a depth of 858.6 meters (2817 feet). The hole was designed to extend the CUMO project's mineral resource and is located 500 feet to the south of hole 32, drilled in 2007 (figure 1). Hole 35-08 intersected molybdenum-bearing mineralization from 36.12m (120 feet) to 858.6m (2817 feet). Assay results returned include:

Hole 35-08     668.31 meters (2220.0 feet) grading 0.066% MoS2
               (1.01% Cu Eq. 0.089% MoS2 Eq., 1.61 lbs MoO3/t)

Including      273.9 meters (910 feet) grading 0.095% MoS2
               (1.29% Cu Eq. 0.114% MoS2 Eq., 2.06 lbs MoO3/t)

The entire core for Hole 35-08 was sampled and cut in half using a diamond saw. Half the core was sent for analysis and the other half has been kept and stored at the core facility, located on site. Following cutting, the samples were delivered directly by Mosquito personnel to ALS Chemex in Elko, Nevada, a fully accredited analytical laboratory. They were first analyzed for 47 elements using a four acid digestion with analysis by an Inductively Coupled Argon Plasma Optical Mass Spectrometer (ICP-MS). Copper and Molybdenum bearing samples were then checked by using a larger 5 gram sample and analyzed using pressed powder pellet X-Ray Fluorescence Spectroscopy (XRF). In addition, duplicates, blanks, and standards were analyzed to ensure analytical accuracy and reproducibility. All rejects are being kept for further analysis and for use in metallurgical testing.

As with previous holes, the drilling of Hole 35 has confirmed the presence of three distinct metal zones within the deposit. This zonation was not recognized by the previous operators. The zones consist of a copper-silver upper zone, a transitional copper-molybdenum zone and a lower molybdenum zone. Grades from the three zones are as follows:

Copper-silver zone

Hole 35-08     280.4 meters (920 feet) grading 0.07% Cu, 0.022% MoS2,
               2.06 gms Ag/T
               (0.58% Cu Eq. 0.051% MoS2 Eq., 0.92 lbs MoO3/t)

Copper-molybdenum zone

Hole 35-08     219.8 meters (730 feet) grading 0.07% Cu, 0.063% MoS2,
               1.78 gms Ag/T
               (1.01% Cu Eq. 0.089% MoS2 Eq., 1.61 lbs MoO3/t)

Molybdenum zone

Hole 35-08     273.95 meters (910.0 feet) grading 0.05% Cu, 0.095% MoS2,
               1.36 gms Ag/T
               (1.29% Cu Eq. 0.114% MoS2 Eq., 2.06 lbs MoO3/t)

Full summary of the analytical results for Hole 35-08 are outlined below in Table 1. Mineralization consists of copper, molybdenum, silver, rhenium and gallium. As a result of the multi-element nature of the mineralization, it was decided to calculate both a copper and molybdenum equivalent for the intercepts. Both equivalents are required as the deposit is zoned as described above. Please see notes below table for explanation of the calculation of the copper equivalent (Cu Equiv.) and MoS2 equivalent (MoS2 Equiv.). The presence of the by-product elements gold, silver, rhenium, and gallium is very significant in terms of the development of the property.

The table below lists the location and orientation of the current 2008 drill holes. All holes are being surveyed down the hole using a Reflex survey instrument.

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Hole    Northing   Easting  Elevation     dip azimuth               Length
Number      feet      feet       feet degrees degrees                 feet
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35-08   118658.3  220487.4       6534     -90     000       2817 completed
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36-08   119266.8  219322.9       6457     -90     000  2422 still drilling
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37-08  119755.68 221220.36       6341     -70     335       2195 completed
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38-08   118658.3  220487.4       6534     -70     180  1374 still drilling
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39-08   118872.7  220777.6       6466     -90     000   391 still drilling
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40-08   119539.8  220816.8       6321     -70     225   606 still drilling
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Hole 35 is a step-out to the south of the current CUMO resource, confirming the continuation of the molybdenum-bearing mineralization. Hole 38 is currently drilling to extend the zone even further to the south. Drilling is proceeding as planned, with one rig (holes 37 and 40) doing infill drilling, while three rigs are currently doing 500 foot step-outs. Two additional rigs are scheduled to arrive on the property and they will be used to follow the higher-grade core mineralization to the southwest. The 2008 program is expected to complete a total of twenty holes, with the results being used to expand the existing 43-101 resource and to convert the majority of the current inferred figures to measured and indicated.

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and Director of Mosquito is the designated qualified person for the CUMO Project, and prepared the technical information contained in this news release.

On Behalf of the Board

MOSQUITO CONSOLIDATED GOLD MINES LTD.

Brian McClay, President

About Mosquito Consolidated Gold Mines

Mosquito Consolidated Gold Mines Limited is a mining exploration and development company with a diverse portfolio of high potential precious and base metals projects, located in low political risk environments in North America and Australia. The Company's primary focus is developing its Idaho-based CUMO project, one of the world's largest molybdenum deposits, and its Nevada-based Pine Tree copper-molybdenum-silver project. For more information, please visit www.mosquitogold.com.

This news release was prepared by management who takes full responsibility for its contents.

This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the CUMO Project. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that may be published by Mosquito may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.

To view accompanying Table 1 and Figure 1, please click on the following link: http://media3.marketwire.com/docs/CUMOTable1andMap.pdf

The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Mosquito Consolidated Gold Mines Limited Brian McClay President (604) 689-7902 (604) 689-7816 (FAX) Website: www.mosquitogold.com