Consolidated Pine Channel Gold Corp. Announces Closing of Financing

Consolidated Pine Channel Gold Corp. (TSX Venture:KPG)is pleased to announce the closing of its private placement totaling$1,250,000. These funds were raised by the Company issuing 12,500,000units at a price of $0.10 per unit, each unit consisting of one commonshare and one share purchase warrant entitling the holder to purchaseone additional common share at a price of $0.15 until April 10, 2008.Of the 12,500,000 units issued, 4,990,000 are flow-through units. TheCompany is pleased to have the following Hedge Funds participate inthe private placement, Firebird Global Master Fund Ltd. and AditCapital Management LLC.

The shares, and any shares to be issued upon the exercise of thewarrants, are subject to a hold period expiring August 11, 2006.

On Behalf of the Board

"Rick Walker"

Rick Walker,

President

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