October 12, 2004

Consolidated Big Valley Resources Inc. (“CBG”) previously reported entering into an Option Agreement (Sept. 2/04 News Release) whereby CBG agreed to acquire a 100% interest in a gold/copper/platinum exploration property (30 contiguous claim units – approx. 700 hectares) located in the Mt. Polley region. On September 23/04 the TSX Venture Exchange accepted for filing this agreement.

CBG has now completed the first stage of this agreement with the vendor Quantum Speed Internet Products, Inc. (Gavin Tattersall). In consideration CBG has paid $20,000 cash and has issued 100,000 treasury common shares to the vendor and 23,000 treasury common shares as a finders fee. The shares are subject to a four-month hold period expiring January 24, 2005.

CBG commissioned a 43-101 Technical Report on the ‘GOLD CLAIMS’ with Egil Livgard, P.Eng. and has filed his completed report dated September 16/04 on SEDAR. The first phase exploration program as recommended is currently underway.

CBG is also reviewing other mineral prospects in the area for possible further acquisitions.

CGB has mutually agreed to the termination of a Management Agreement effective June 30/04 with McGovern Investments Inc. (former President – Edward McGovern) CBG has now entered into a new Management Agreement effective September 1, 2004 with Grupo Moje Limited (a company controlled by Frank Basa, President of CBG) for the payment of $2,500/month for a period of two years. The agreement will be filed with the TSX Venture Exchange for approval.

ON BEHALF OF THE BOARD

Frank J. Basa
President/Director