AJC

American Consolidated Minerals Corporation (TSX VENTURE: AJC) (the "Company") is pleased to announce the commencement of its 2010 exploration program on both the Toiyabe Project located in the Battle-Mountain Cortez Trend, Nevada and the Lone Ranch Project within the Republic Graben in Ferry County, Washington (see news release of April 12, 2010).

At Toiyabe, a program of detailed geological mapping, geochemistry and geophysics has begun. An initial drill program of six deep diamond drill holes is underway to test for the source of the Company's near surface indicated mineral resource of 174,000 ounces of gold grading 0.0349 oz/t (Technical Report, 'Summary Report and Mineral Resource', Paul D. Noland, May 27, 2009). This small, low-grade deposit may be considered a leakage anomaly that could have derived from a superior gold deposit at depth (postulated at perhaps approximately 1,500 feet (490 meters) below surface).

These holes are being pre-collared by a reverse circulation drill rig to approximately 800 feet (244 meters) and then completed by diamond drilling. The average depth of these holes will be 1500 feet (492 meters) with at least one hole targeted to at least 2000 feet (656 meters). The first two holes being drilled are following up drill hole T-0902, drilled last November, which penetrated the "805 Fault" at a depth of 875-924 feet (287-303 meters) and averaged 0.106 oz/t gold over 49 feet (15 meters). The diamond drill, which was scheduled to be on the property by the end of this week, has been delayed and should arrive by the second week in June. Total budget for this phase of the exploration program at Toiyabe is $650,000.

The 805 fault separates a graben block to the west from a horst block to the east. The horst block correlates well with a resistivity anomaly that trends 3,000 feet (900 meters) to the northwest and is thought to be produced by alteration. Deep holes will be drilled on both sides of the 805 fault to test for sediment hosted mineralization along this hypothesized feeder structure. Further drilling will then test along trend to the northwest.

Depending on weather conditions at Lone Ranch, a 21 hole drill program is planned to commence in early June. The property covers a volcanogenic massive sulfide (VMS) system that can be traced on surface for over five miles (eight kilometers) in length. This property is fully permitted and a diamond drill has been contracted. The drilling will test four significant geophysical anomalies on the property of which only one, the Adit Target, has seen limited drill testing. In past years, gold values were identified on the Adit Target in surface sampling and drilling conducted by majors such as Cyprus and Kennecott. Here, the mineralized system is believed to be a type of VMS based on geologic mapping and drilling.

Separately, the North Forty Target measures approximately 6,560 feet by 3,280 feet (2,000 meters by 1,000 meters). This geophysical anomaly is four times stronger than the Adit Target and will receive the bulk of the diamond drilling (15 holes), with other targets receiving the remaining six holes. All targets have been determined to be relatively shallow, based on the geophysical responses. The holes are expected to average 250 feet to 300 feet (76 to 91 meters) in depth. A total of approximately 6,000 feet (1,829 meters) will be drilled. The budget for the Lone Ranch program is $250,000.

The Company has a strong working capital position of $1.8 million, particularly as a result of the recent exercise of a significant number of warrants. Both the Toiyabe and the Lone Ranch exploration programs can be rapidly accelerated, assuming results dictate, without the need for further financings in the intermediate term.

Richard Kern (P. Geol.), a director of American Consolidated Minerals Corporation, 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 President & Director (604) 602-4935 or Toll Free: 1-866-602-4935 (604) 602-4936 (FAX) www.americanconsolidatedminerals.com