| Consolidated Big Valley Resources Inc. - CBG.HNEWS RELEASE August 1, 2006 BIG VALLEY FURTHER INCREASES PROPOSED FINANCING TO 4.0 MILLION NON FLOW-THROUGH UNITSFurther to our news release of July 11 & 13, 2006, Consolidated Big Valley Resources Inc. (CBG.H) is increasing the non- brokered private placement to 4.0 million units from 2.5 million units. Each non flow-through unit, at a price of $0.16 per unit, is comprised of one common share and one common share purchase warrant, entitling the holder to purchase one additional common share of the company for a period of one year at a price of $0.21 per share. All securities issued pursuant to this private placement will be subject to a four-month hold period. Finder’s fees will be paid on the financing as per regulatory guidelines. This transaction is subject to the approval of the TSX Venture Exchange, with a view that the company will advance from NEX to Tier 2. Proceeds to be used for additional working capital as may be required in the completion of the Company’s graduation to Tier 2. ON BEHALF OF THE BOARD Gary Musil, Director THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. | 