Diamonds / ZZL

Description

CONSOLIDATED GOLDWIN VENTURES INC.'s (CGW TSX-V) two additional properties were acquired due to their proximity to its other diamond exploration properties in the Drybones Bay area of Great Slave Lake in the Northwest Territories, Canada. The Drybones Bay Kimberlite which is currently being explored by New Shoshoni Ventures Inc. is the largest untested diamondiferous kimberlite in this region of the Slave craton, host to Canada's most significant diamond mining operations.

CGW plans to complete ground geophysics on its two properties to the east of Drybones Bay in the spring of 2003.

The properties have discreet topographical features associated with magnetic anomalies on a large government scale aeromagnetic survey.

These two properties are located approximately 12 kilometres to the east (ZZL) and 4 kilometres to the north (Cleft) of the Drybones Bay diamondiferrous kimberlite and Snowfield Development Corp.'s newly announced discovery of kimberlite The areas have never been tested by diamond drilling.

The Drybones Bay area is the focus of exploration programs currently being mobilized by New Shoshoni Ventures Inc. and Snowfield Development Corp. The Drybones Bay Kimberlite is the largest kimberlite discovered to date on the Slave Craton and was determined by exploration in the 1990's to be diamond bearing. New Shoshoni is drilling several additional targets that have similar geophysical signatures to this known kimberlite. Snowfield is currently drilling a geophysical target with anomalous indicator minerals down ice from it.