VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2012) - Mosquito Consolidated Gold Mines Limited (News - Market indicators) ("Mosquito" or the "Company") is pleased to announce that at the special meeting of shareholders held yesterday (the "Meeting"), the shareholders of the Company approved the election of Hongxue Fu, Shaun Dykes, Stanislaw Siewierski, Joseph Baird, John Moeller and Long Wang as directors of the Company, each of whom was proposed for election as a director of the Company by the group of concerned shareholders and each of whom received votes in favour representing over 2/3 of the votes cast by proxy.

In addition, the Company announces that at the first Board meeting following the Meeting, Hongxue Fu was appointed as Executive Chairman and President, Shaun Dykes was appointed as Chief Executive Officer on an interim basis, Aurora Davidson was appointed as Chief Financial Officer on an interim basis and Brett Kagetsu was appointed as Corporate Secretary.

The Board also resolved, subject to receipt of regulatory approval, to proceed with the change of name of the Company to "CUMO Mining Corp.", which change of name was approved by Company shareholders at the annual and special meeting of shareholders held on December 9, 2009 but not proceeded with at the time. The Company will issue a further news release on a date closer to when the name change is to become effective.

The Board sincerely thanks Mosquito shareholders for their tremendous support in effecting needed change at Mosquito.

On behalf of the Board of Directors of

MOSQUITO CONSOLIDATED GOLD MINES LIMITED

Shaun Dykes, Chief Executive Officer