TSX-V Symbol: CK VANCOUVER, April 27 /CNW/ - Consolidated Global Diamond Corp. (the "Company") is pleased to announce that further to its previous news release dated March 29, 2005, the TSX Venture Exchange has accepted for filing an option agreement between the Company and Diamond Hawk Mining Corp., whereby the Company may acquire up to fifty-one percent (51%) interest in the Courageous Lake property (the "property") that is located in the Mackenzie mining district northeast of Yellowknife. Consideration is $150,000, 800,000 units of the company (each unit comprises one common share and one share purchase warrant, the exercise price of the first warrants shall equal the closing trading price on the day of the announcement plus a fifty percent (50%) premium and for future issuance, the exercise price of the warrant shall be equal to the trading price of the Company's shares on the day of issue plus 10 percent (10%) for a term of one year from the issuance date), and conducting a drill program and the expenditures of total of $4.5 million on exploration over a four year term. The Company has paid $100,000 and issued 100,000 common shares to Diamond Hawk Mining Corp. These shares are subject to a four-month hold period expiring August 27, 2005. The Company has commenced a drilling and sampling program on the property. On Behalf of the Board of Directors Consolidated Global Diamond Corp. "Simon Tam" Simon Tam Director Disclaimer: THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.