August 30, 2006

Further to our news release of July 19, 2006, Consolidated Big Valley Resources Inc. (the “Company”) is pleased to announce that it has now received a NI 43-101 Technical Report to assess the potential of its newly acquired Granada Gold Mine Property. The Granada property is 5 km south of the city of Rouyn-Noranda in north western Quebec and 1.5 km southeast of the village of Granada. Access to the property is provided by the Rouyn-Granada road which passes 500 m to the west of the property while access to the centre of the property is gained by all season gravel roads.

The Granada Mine property is a former producer, producing from 1930 to 1935 with a grade between 9.7 g/t to 1.5 g/t. A tonnage of 164,816 tonnes of ore were processed on site using a 181 tonnes per day amalgamation plant.

There are two shafts on the property. Number 1 is 236 meters deep with 5 levels and Number 2 is a decline at 50 degrees due north at 498 meters with 11 levels. These shafts were sunk on veins Number 1 and 2 respectively. The veins are open at depth and strike. There are four other vein structures on site which have been identified and will be explored at a future date.

In 1992 KWG resources drilled 69 holes for total footage of 2,973 meters on veins # 1 and 2. Between 1993-1994 two bulk samples were taken from Number one vein for a total of 87,311 tonnes with a grade of 5.17 g/t. The ore was processed at Norebec-Manitou mill in Val d’Or.

In 1995, Met-Chem Pellemon prepared a reserve calculation of 118,817 tonnes with a grade of 3.67 g/t to a depth of 26 meters on Vein Number 2.

In 1996 a bulk sample of 22,095 tonnes was taken from vein 2 with a grade of 3.46 g/t. The ore was processed at the Terrains Auriferes mill in nearby Malartic.

The Granada property host a historic mineral reserve. A.C.A. Howe International Ltd. calculated (pre 43-101) proven and probable reserves in a 1994 report as follows:

Vein #1
120,804 tons @ 0.121 oz/ton Au (109,622 tonnes @ 4.14 g/t Au)

Vein #2
651,763 tons @ 0.119 oz/ton Au (591,436 tonnes @ 4.08 g/t Au) minus year 2000 production of 69,179 tons (62,775 tonnes) for a total of 582,589 tons of 0.119 oz/ton Au. (528,665 tonnes @ 4.08 g/t)

Past production has shown that typical Granada mine is approximately 30% higher grade than sampling indicated due to the nugget effect. The above mentioned historical mineral reserve calculations is based solely on sampling data and does not take the nugget effect in consideration.

The Granada Mill site and property is fully permitted to process the Granada ore.

The Company is in the process of reviewing the documentation and plans to reactivate the Granada Property and mine the surface ore for future processing in the Granada Mill.

The resource estimates cited above predates and therefore does not conform to the more stringent reporting requirements of National Instrument 43-101 and should not be relied upon according to those standards. The Company has not done sufficient work yet to verify or classify the historical estimates as a current mineral resource and the Company is not treating the historical estimates as a current mineral reserve or resource. The Company believes that the historical estimates provide a favourable indication of the gold potential of the Property, and intends to embark on an extensive recommended exploration program of the original five veins in order to quantify new resources plus upgrade historical resource categories to NI 43-101 compliance.

The contents of the above news release have been reviewed and verified by Frank J Basa P. Eng. and Richard Roy, P.Geo of NordQuest, both qualified persons under NI 43-101. Both parties were responsible for completion of the July 28, 2006 NI 43-101 Technical Report for the Granada Mine Property. The Technical Report will be filed concurrently on SEDAR along with this News Release.

ON BEHALF OF THE BOARD

Frank Basa, P.Eng.

Chairman of the Board and Vice-President