SOURCE: Continental Gold Inc.

Continental Gold Inc.

April 19, 2016 17:45 ET

Continental Gold Appoints Martin Carrizosa to Its Board of Directors

TORONTO, ON--(Marketwired - April 19, 2016) -  Continental Gold Inc. (TSX: CNL) (OTCQX: CGOOF) ("Continental" or the "Company") is pleased to announce the appointment of Mr. Martín Carrizosa to its Board of Directors, effective immediately.

Mr. Carrizosa, a Colombian citizen, has extensive experience in both the public and private sectors. He is a founding partner at Philippi Prietocarrizosa Ferrero DU & Uría, one of the largest law firms in Colombia, where he focuses on competition and antitrust law, cross-border transactions and international investments. Mr. Carrizosa has also been appointed by the Government of Colombia as a member of the Pacific Alliance Business Council (CEAP) and as one of four Colombian arbitrators qualified to represent the country before the World Bank's Centre for Settlement of Investment Disputes (ICSID).

Previously, Mr. Carrizosa was an Economic and International Affairs Advisor to the President of Colombia and Chief of Staff of the Organization of American States (OAS) in Washington, D.C. He has also been the Chairman, legal advisor and a board member of AMCHAM Colombia (American Chamber of Commerce) and has served on the board of directors of the World Law Group.

Mr. Carrizosa brings diverse director experience to Continental, serving on the board of directors of companies representing several industries. He is currently a director of Scotiabank Colpatria, LarraínVial Colombia (a large construction firm) and MBA Lazard (an investment bank), as well as non-profit organizations such as ProColombia, the Chamber of Commerce of Bogotá, and Universidad de los Andes.

Leon Teicher, Executive Chairman of the Company, stated: "We are very pleased to welcome Martín to the Continental Board of Directors. His extensive experience, knowledge and relationships will greatly add to our Board's capabilities as we work towards completing the processes of environmental permitting, construction and operation of a large, underground gold mine at Buriticá, which will double the legal production of gold in Colombia and substantially benefit the communities in the Company's area of influence and in Colombia in general."

"Joining the Board of Continental will allow me to contribute my skillset to advancing a world-class gold-mining project in Buriticá, Colombia. The Company adheres to very high standards and the project is well aligned with what Colombia requires to develop long-lasting, sustainable prosperity for the region and for the country in general," commented Martín Carrizosa.

About Continental Gold

Continental Gold Inc. is an advanced-stage exploration and development company with an extensive portfolio of 100%-owned gold projects in Colombia. Formed in April 2007, the Company -- led by an international management team with a successful track record of discovering and developing large high-grade gold deposits in Latin America -- is focused on advancing its high-grade Buriticá gold project to production.

For information on the Buriticá project, please refer to the technical report, prepared in accordance with NI 43-101, entitled "Buriticá Project NI 43-101 Technical Report Feasibility Study, Antioquia, Colombia" and dated March 29, 2016 with an effective date of February 24, 2016, led by independent consultants JDS Energy & Mining Inc. The technical report is available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.continentalgold.com. Additional details on the rest of Continental's suite of gold exploration properties are also available at www.continentalgold.com.

Forward-Looking Statements

Certain information contained in this press release, including statements as to completing permitting, constructing and advancing the Buriticá project and the Company's strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements", and is based on current expectations that involve a number of significant business risks and uncertainties. Forward-looking statements are subject to other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, an inability to advance the Buriticá project to the next level, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Specific reference is made to the most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements, and are made as of the date hereof. The Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.

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