On June 9, 2006 Consolidated Thompson-Lundmark Gold Mines Limited closed a private placement consisting of 15,587,000 special warrants at a price of $2.75 per special warrant for aggregate gross proceeds to the Company of $42,864,250.

The net proceeds from the Offering will be used for the continued development of the Bloom Lake Iron Ore Deposit in Québec and for general corporate purposes.

The underwriting syndicate for the offering was led by Orion Securities Inc. and included Canaccord Capital Corporation, GMP Securities L.P. and CIBC World Markets Inc. The syndicate was advised by Robert Mason and Christopher Sullivan of Fasken Martineau.