AJC

American Consolidated Minerals Corp. (the "Company") (TSX VENTURE: AJC) is pleased to update its 2010 exploration program on both the Toiyabe Project, located in the Battle-Mountain Cortez Trend, Nevada and the Lone Ranch Project, located within the Republic Graben in Ferry County, Washington (see news release of May 28, 2010).

Toiyabe, Nevada

At Toiyabe, the drill program currently underway is designed to test for the source at depth (1,500 to 2,000 feet (495 to 610 meters)) of the Company's near surface indicated mineral resource of 174,000 ounces of gold grading 0.0349 oz/t (see Technical Report, 'Summary Report and Mineral Resource', Paul D. Noland, May 27, 2009).

Detailed structural mapping has recently been conducted along the geophysical anomaly associated with the "805 Fault". In addition, mapping of another interesting anomaly located to the west of the present drill program has been completed. Finally, selective rock chip sampling of the fault zones has been successfully completed. A series of N45-50W trending faults paralleling a geophysical survey has been identified, as well as a N30-40E fault trend. A geochemical survey (soil sampling) recently completed in the general area of the "805 Fault" revealed gold values ranging from 0.012 g/t to a high of 0.814 g/t. The highest value is derived from a N50W trending breccia zone in upper plate argillite. In August, the Company will extend the existing geophysical survey to the southern property boundary.

The first drill hole (T1001) of the season at Toiyabe was drilled into the hanging wall side of the "805 Fault". It was terminated at 1,460 feet (445 m) after encountering unusual resistance and before entering the postulated area of interest. This hole will be redrilled after the completion of T1002, now being drilled on the footwall side of the fault. T1002 is presently drilling below 900 feet (274 m) and progressing well with a target depth of 2,000 feet (610 meters). Core from both holes is being logged, sawed in half and sent to ALS Chemex in Reno, Nevada for analysis. Assay results are expected in late August. The Company has budgeted for six deep holes at Toiyabe for 2010. The remainder of the holes will be spotted based on further evaluation of mapping, geophysics and drill results.

Lone Ranch, Washington

The drill program at the Lone Ranch Project in Washington is testing three large geophysical anomalies. These anomalies are spread over 3.4 miles (5.5 km) in length and reach up to 0.6 miles in width (1.0 km). A twenty-hole core program is testing for gold mineralization and the potential for delineating one or more deposits.

This property is located within the Republic Graben. The graben feature hosts numerous past and present producers such as Hecla's Republic mine, Kinross's Buckhorn mine, and Echo Bay's K2 and Lamefoot mines, with combined production and reserves stated at over seven million ounces. Many of these deposits occur in similar geologic settings as the apparent mineralization hosted at the Company's Lone Ranch Project.

Seven holes have been completed to date for a total of 2939 feet of core drilling. Holes one through six were drilled on the North Forty Target, drilling on holes 7, 8, and 9 is being completed on the Adit Target, and then two holes are slated for the Middle Ranch Target. Completed holes are being geologically logged and marked for splitting. Core will be sawn and shipped for assay to the Stewart Group in Kamloops, British Columbia later this month. Assay results are expected by late August.

"Should the assay results confirm our positive expectations, we are well positioned to accelerate our exploration programs on both of these properties," said Al Fabbro, President of the Company. "Both Toiyabe and Lone Ranch prospects present exciting potential for our shareholders and management is looking forward to announcing results of our drill programs next month."

Richard Kern (P. Geol.), a director of American Consolidated Minerals Corp., is the Company's Qualified Person on these projects. Mr. Kern prepared the technical information contained in this news release.

American Consolidated is dedicated to the principles of environmentally sound mining practices and believes that environmental stewardship and mining can co-exist.

For more information on the Company and its properties please visit the Company's website at www.americanconsolidatedminerals.com.

ON BEHALF OF THE BOARD:

Al Fabbro, President & Director

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.

Contacts: American Consolidated Minerals Corporation Al Fabbro 1-604-602-4935 / Toll Free: 1-866-602-4935 1-604-602-4936 (FAX) www.americanconsolidatedminerals.com