KBC Cons Beacon Resources Ltd. (Tier2)

Consolidated Beacon Resources Ltd. ("Beacon" or "the Company") (TSX-V: KBC) reports that it has reached a settlement agreement with certain debenture holders with respect to amounts that were in default February 25, 2008 and for which the debenture holders secured a judgment against the Company.

Under the terms of the settlement, the debenture holders will receive, in the aggregate, 20,629,486 common shares of the Company in settlement of $103,147.43 in debt consisting mainly of interest owing. Furthermore, the debenture holders and the Company have agreed to execute new debenture agreements in the aggregate of $500,000, representing the original amount of capital raised. The new debentures will accrue interest at 8 per cent per annum, payable upon maturity at May 30, 2010. There will be no conversion terms in the new debenture agreements.

About Consolidated Beacon Resources Ltd.

Consolidated Beacon Resources Ltd. is in the business of evaluating and acquiring oil and natural gas properties for exploration and development in Canada and the United States. The Company's shares trade on the TSX Venture Exchange under the symbol KBC.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release may contain or be deemed to contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual events or results. Readers are referred to the most recent documents filed by the Corporation on SEDAR (www.sedar.com), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Corporation undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements include references to production and cash flows before and after payout.

FOR FURTHER INFORMATION ABOUT THE COMPANY, PLEASE CONTACT: Consolidated Beacon Resources Ltd. Vancouver Office Archie Boyce Director Email: archie@consolidated-beacon.com Telephone: (604) 683 5445 ext 227 or visit the Company's website at http://www.consolidated-beacon.com