Continental Minerals Corporation
TSX VENTURE : KMK
OTC Bulletin Board : KMKCF

Continental Minerals Corporation

March 22, 2007 10:00 ET

Continental Minerals Corporation: 2007 Drill Program to Start at the Newtongmen Discovery on March 31st

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2007) - Continental Minerals Corporation ("Continental" or the "Company") (TSX VENTURE:KMK)(OTCBB:KMKCF) announces that the 2007 drill program is to commence on March 31st, 2007 at the Company's recently discovered Newtongmen deposit located at the Xietongmen Property site, which is situated 240 kilometres from the city of Lhasa in Tibet, People's Republic of China. Continental owns 100% of the 120 km2 Xietongmen Project.

The Newtongmen deposit is located 3 km northwest of the Xietongmen deposit (219.8 Mt @ 0.43% Cu and 0.61 g/t Au). The Newtongmen deposit is hosted by the same alteration zone as the Xietongmen deposit and lies within a high copper-gold anomaly, 1.5 square kilometres in area, outlined during a rock chip sampling program completed earlier this year (please see the Company's January 24th 2007, press release).

Long intervals of strong copper and gold grades were intersected in both holes, which are spaced about 100 meters apart. Hole 6213N intersected 302.2 meters grading 0.82% CuEQ, including an 85.0-meter interval of 1.25% CuEQ and a 43.0-meter interval grading 1.39% CuEQ. Hole 6203N intersected 210.6 meters grading 0.82% CuEQ (please see the Company's November 28, 2006 press release).

Newtongmen has the potential to add substantially to the resource base on the Xietongmen Property. An aggressive multi rig drilling program is planned to commence on March 31st 2007 to delineate this new discovery with a first phase of 10,000 metres of drilling spaced at 100m x 100m.

In other news, the private placement announced in February was completed at $32 million rather than the $37 million previously announced. The Company remains well positioned financially and is rapidly advancing the exploration and development of its Xietongmen Property.

For additional details, please visit the Company's website at www.continentalminerals.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

On behalf of the Board of Directors

Gerald Panneton, President and Chief Executive Officer

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the merger, acquisition of additional property, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

For more information on Continental, Investors should review Continental's annual Form 20-F and the Form F-4 filings with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained in this news release.

Contact Information

  • Continental Minerals Corporation
    Shawn Wallace
    Investor Services
    (604) 684-6365 or 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.continentalminerals.com