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 May 14, 2009
Mosquito Consolidated Gold Mines Limited
 Vancouver, May 14, 2009 - Mosquito Consolidated Gold Mines Limited (Mosquito - TSX Venture: MSQ) as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosures on the Mosquitogold.com website.

The Company retracts its prior disclosure of the results of a preliminary economic analysis for the Cumo project, including production rate, mine life, capital and operating costs, IRR, NPV, and after tax profit, and any implication that its resources have been qualified as mineral reserves. The company disclosed such information on its website and in investor materials. The Company's disclosure did not provide the cautionary language required by NI 43-101 for a preliminary assessment, and consequently the analysis appeared to confer economic viability and qualify a mineral reserve. The company clarifies that the in-house analysis completed so far was never considered material by the company, it was not suitable for public disclosure, and it should not have been relied on. An independent preliminary assessment is now underway. The company will issue a news release to disclose results of its economic analysis when the analysis reaches a stage where it becomes material to the company.

The Company also retracts the references to gross recovered metal value and gross value. The use of gross recovered metal value is meaningless and may be misleading because it only takes into account recovery of metals and fails to take into consideration operating and capital costs, smelter costs and other factors relating to the potential mining, and extraction.

The recently filed, National Instrument 43-101 Technical Report on its Idaho-based CUMO molybdenum-copper project has been modified: by adding Jackie A Holmgren's Certificate (inadvertently not included in original report) and additional information to support the selection of the $7.50 cutoff as a highlighted value.

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

Founded in 1971 and headquartered in Vancouver, Canada, Mosquito Consolidated Gold Mines Limited (www.mosquitogold.com) 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 the development of its Idaho-based CUMO deposit, recognized as one of the largest molybdenum-copper porphyry deposits in the world, and its Nevada-based Pine Tree porphyry copper-molybdenum-silver project.

THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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.
 
 

You can view the Next News Releases item: Mon Jun 1, 2009, Mosquito Engages Engineering Firm for CUMO Preliminary Economic Assessment

You can view the Previous News Releases item: Mon May 4, 2009, Mosquito Files Cumo Ni 43-101, Announces 1.3 Billion Tons Indicated, 2.2 Billion Tons Inferred Of Higher-Grade Multi-Element Mineralization

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