Continental Precious Minerals Inc.

Continental Precious Minerals Inc.

March 25, 2010 14:20 ET

Continental Precious Minerals-Update on Licences in Sweden

TORONTO, ONTARIO--(Marketwire - March 25, 2010) - Continental Precious Minerals Inc. (TSX:CZQ) (the "Company" or "Continental") announced that the renewal of five MMS (VG) licences has recently been granted such that Continental has a total of 82 mineral exploration licences in Sweden, each 100% owned by Continental. An additional 14 new mineral exploration licences have been applied for and are pending in the southern part of the Billingen area of Vastergotland county, about 200 kilometres southwest of Stockholm.

Continental's main focus is its MMS Viken licence. The March 19, 2009 National Instrument 43-101 technical report on MMS Viken, entitled "Third Updated Technical Report on Viken MMS Licence Area, Jamtland, Kingdom of Sweden," is available on SEDAR. The Company is focused on completing its metallurgical work with a view to completing a preliminary economic assessment in 2010.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements regarding pending mineral exploration licences as well as metallurgical studies and a preliminary economic assessment of the MMS Viken Licence and surrounding licences in Sweden. There is no assurance that the Company will be successful in having the additional 14 mineral exploration licences granted and no assurance that the Company will be successful in extracting metals from the Company's mineral exploration licences in Sweden on a commercial scale, or at all, thereby enabling the Company to complete a preliminary economic assessment. The forward looking statements contained in this news release represent the Company's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date.

About Continental Precious Minerals Inc.: Continental Precious Minerals Inc. is a multi-mineral exploration company with multiple interests and exploration licences in Sweden. Since March 2005, Continental's primary goal has been to advance its Swedish assets. The Company is also evaluating other opportunities as they emerge in current market conditions.

Contact Information

  • Continental Precious Minerals Inc.
    Ed Godin
    (416) 805-3036
    (905) 276-4862 (FAX)