Mosquito Appoints Two Directors - General Merrill McPeak of Lake Oswego, Oregon, and Mr. Paul Kessler of Los Angeles, California

VANCOUVER, Oct. 27, 2011 /PRNewswire/ -- Mosquito Consolidated Gold Mines Limited (TSX Venture: MSQ, US OTC: MQCMF) is pleased to announce the appointment of General Merrill McPeak of Lake Oswego, Oregon, and Mr. Paul Kessler of Los Angeles, California, as new Directors of the Company.

Mr. Paul Kessler is an accomplished business entrepreneur with worldwide experience in resource and business development. Currently he is Principal, Portfolio Manager and Founder of Bristol Capital Advisors, LLC ("BCA").  His specialties include all aspects of sourcing, identifying, negotiating, structuring and re-structuring investment transactions with emerging growth public companies, including mergers, acquisitions, divestitures, venture capital, private equity, and other capital market activities.  He has guided and overseen over 500+ investment transactions, whether as lead, co-lead, or syndicate investor.  Mr. Kessler has also actively worked with executives and boards of companies on corporate governance and oversight, strategic repositioning and improving shareholder communication.

For the better part of a decade prior to the formation of BCA, Mr. Kessler was recognized as an active investor, financier and venture capitalist.  His investments focused on emerging growth public companies and, to a lesser extent, private companies that were on the path of becoming public. As an investor he has invested, provided seed capital, and/or founded numerous successful emerging growth companies.  

Mr. Kessler has been a guest speaker on the subject of financing emerging growth public companies at a variety of forums, including The PIPEs Conference, Los Angeles Venture Association (LAVA), Wall Street Reporter's Pipe Conference, and Pepperdine University's Graziadio School of Business and Management. He has attended courses at various colleges and universities, including Harvard Business School's Executive Education Program and UCLA's Extension Program. Mr. Kessler has passed the Series 65 Uniform Investment Advisor Examination

General Merrill A. McPeak is a retired four star general after nearly four decades in the U.S. Air Force and served as USAF chief of staff from 1990 to 1994. General McPeak is President of McPeak and Associates, a company he founded in 1995. From 1990 until his retirement from active military service in late-1994, he was chief of staff of the U.S. Air Force. During this period, he was the senior officer responsible for organization, training and equipage of a combined active duty, National Guard, Reserve and civilian work force of over 850,000 people serving at 1,300 locations in the United States and abroad. As a member of the Joint Chiefs of Staff, he and the other service chiefs were military advisors to the Secretary of Defense and the President. A career fighter pilot, General McPeak flew 269 combat missions in Vietnam and performed in 199 official air shows with the Air Force's elite aerobatic team, the Thunderbirds. In a 37-year military career, General McPeak commanded NATO's 20th Fighter Wing, Twelfth Air Force, and Pacific Air Forces from 1988 to 1990. His term as service chief was characterized by active overseas military operations, including Desert Storm. At the same time, he conceived and executed perhaps the most important reorganization of the Air Force in its 60-year history.

General McPeak has sat on the boards of a dozen publically traded companies, including long service with the airline, TWA, and with the test and measurement company, Tektronix. He was for many years Chairman of the Board of ECC, International, until that company was acquired by Cubic Corporation. Currently, General McPeak is a director of DGT Holdings, Derycz Scientific, Miller Energy Resources, Genesis Biopharma, and Coast Plating (privately held). He is Chairman of Ethicspoint, Inc., a Portland, Oregon-based provider of risk management and compliance software-as-a-service, including secure, anonymous reporting of ethical violations in the workplace.

General McPeak (B.A., Economics, San Diego State University, M.S., International Relations, George Washington University) is a member of the Council on Foreign Relations. In 1992, San Diego State honored him with its first ever Lifetime Achievement Award. He was among the initial seven inductees to the Oregon Aviation Hall of Honor. He was one of a dozen co-chairmen of Barack Obama's 2008 presidential campaign. Currently, he is Chairman of the American Battle Monuments Commission, responsible for supervising 24 cemeteries in 15 overseas countries that serve as final resting places for nearly 125, 000 American war dead.

Both Mr. Kessler and General McPeak both have extensive political, financial and industry networks which will enhance Mosquito's efforts with the challenges of developing the primary focus of the Company, the CUMO molybdenum–copper-silver deposit located in SW Idaho.

The Company wishes to announce that it has entered into stock option agreements granting the right and option to purchase 1,400,000 common shares of the Company at $0.60 per share exercisable in whole or in part on or before October 26, 2021.

On Behalf of the Board
MOSQUITO CONSOLIDATED GOLD MINES LTD.

"Brian A. McClay"
Brian A. McClay
President

About Mosquito Consolidated Gold Mines

Founded in 1971 and headquartered in Vancouver, Canada, Mosquito Consolidated Gold Mines Limited (www.mosquitogold.com) is a mining exploration and development company with a diverse portfolio of high-potential precious and base metals projects, located in low-political-risk environments in North America and Australia. The Company's primary focus is the development of its Idaho-based CUMO deposit, recognized as one of the largest molybdenum-copper porphyry deposits in the world, and its Nevada-based Pine Tree porphyry copper-molybdenum-silver project.

THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements".  These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the CUMO Project. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially.  For these reasons shareholders should not place undue reliance on such forward-looking information. United States residents are cautioned that some of the information that may be published by Mosquito may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.

SOURCE Mosquito Consolidated Gold Mines Limited