Prospector Consolidated Resources Inc � Progress towards a Trading Date

August 15, 2008

Henry Neugebauer, the President of Prospector Consolidated Resources Inc. (the �Company�) wishes to inform shareholders that progress is being made and steps are being taken to facilitate its reinstatement for trading. The company has been working closely with the TSX Venture Exchange over the last two months and has submitted an application to reinstate the trading of the Company�s securities.

The Company wishes to thank shareholders for their continued support over this difficult time.

Further to the financing announced August 12, 2008, the Company is pleased to announce that it is over-subscribed.

The Company also advises shareholders that a project manager is in place and drilling will commence shortly on the Company�s property.

ON BEHALF OF THE BOARD
PROSPECTOR CONSOLIDATED RESOURCES INC.

Per:

:signed �Henry Neugebauer�

Henry Neugebauer
President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.