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

Continental Minerals Corporation
China NetTV Holdings Inc.
OTC Bulletin Board : CTVH

China NetTV Holdings Inc.

July 26, 2005 10:00 ET

Continental Minerals Corporation and China NetTV Holdings Inc.: Discovery of a Major New Copper-Gold Deposit Indicated at Xietongmen Property, China

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 26, 2005) - Ronald W. Thiessen, President and CEO of Continental Minerals Corporation (TSX VENTURE:KMK)(OTCBB:KMKCF) and Anthony Garson, President and CEO of China NetTV Holdings Inc. (OTCBB:CTVH) are pleased to announce that ongoing core drilling continues to intersect long intervals of high-grade copper and gold mineralization at the Xietongmen project, located 240 kilometres southwest of Lhasa in Tibet, People's Republic of China. Assay results to date show strong continuity of mineralization and correlation between copper and gold values. The discovery of a major new porphyry copper-gold deposit is indicated. Six drill rigs are on site with the goal to systematically delineate the deposit which is open to expansion in all lateral directions.

The Xietongmen property hosts porphyry-like copper and gold mineralization within a four kilometre long alteration zone that was initially probed by China NetTV in 2004 with two historical drill holes spaced approximately 250 metres apart. These two holes returned long intersections of excellent copper and gold grades. Through a venture with China NetTV, Continental can earn a 60% interest in the Xietongmen property by making payments and project expenditures of US$10 million prior to November 9, 2007. Continental is the operator of the exploration programs on the property and has commenced a grid drilling program to delineate the copper-gold mineralization.

New results from drill holes numbered 5007 and 5009 through 5014 are reported below. For ease of reference, initial results released on July 13, 2005 (holes 5001 through 5006 and 5008, and historic holes ZK301 and ZK701) are also reported again. A Property Location Map, Drill Hole Plan and Cross Sections are posted on the Company's website at www.continentalminerals.com.



XIETONGMEN ASSAY TABLE

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Inter- Inter- Cu Au CuEQ AuEQ
Drill From To cept cept % g/t % %
Hole (metres) (metres) (metres) (feet) (1) (1) (2) (2)
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5001 15.8 277.6 261.8 859 0.41 0.60 0.76 1.30
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5001 Incl. 44.6 70.0 25.4 84 0.74 0.81 1.21 2.08
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5002 8.6 259.9 251.3 824 0.55 0.82 1.03 1.76
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5002 Incl. 44.5 77.2 32.7 107 0.96 0.77 1.41 2.42
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5003 2.5 226.1 223.6 734 0.37 1.05 0.98 1.68
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5003 Incl. 99.1 123.2 24.1 79 0.92 2.45 2.35 4.03
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5004 46.5 294.0 247.5 812 0.57 0.67 0.96 1.65
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5004 Incl. 46.5 188.0 141.5 464 0.70 0.77 1.15 1.97
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5005 20.4 200.0 179.6 589 0.36 0.53 0.67 1.15
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5005 Incl. 20.4 122.5 102.1 335 0.43 0.63 0.80 1.37
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5006 18.7 242.7 224.0 735 0.49 0.76 0.93 1.60
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5006 Incl. 18.7 121.6 102.9 338 0.71 0.99 1.29 2.21
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5007 41.2 97.0 55.8 183 0.88 0.29 1.05 1.80
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5007 151.0 195.0 44.0 144 0.22 0.70 0.63 1.08
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5008 17.0 306.0 289.0 948 0.63 1.07 1.25 2.15
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5008 Incl. 40.2 70.0 29.8 98 1.05 0.89 1.57 2.69
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5008 Incl. 155.0 181.3 26.3 86 0.98 1.67 1.95 3.35
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5009 82.0 137.5 55.5 182 0.42 0.47 0.69 1.19
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5010 36.7 122.0 85.3 280 0.63 0.50 0.92 1.58
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5010 Incl. 41.0 88.2 47.2 155 0.81 0.55 1.13 1.94
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5010 and 41.0 63.0 22.0 72 1.08 0.69 1.48 2.54
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5011 45.3 301.9 256.6 842 0.66 0.89 1.18 2.02
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5011 Incl. 45.3 184.0 138.7 455 0.80 0.94 1.35 2.31
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5011 Incl. 254.0 300.0 46.0 151 0.70 1.04 1.31 2.24
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5012 24.0 332.5 308.5 1012 0.87 1.25 1.60 2.74
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5012 Incl. 24.0 106.0 82.0 269 1.36 0.83 1.84 3.16
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5012 and 24.0 61.0 37.0 121 2.15 0.62 2.51 4.31
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5012 Incl. 119.1 332.5 213.4 700 0.72 1.44 1.56 2.67
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5013 42.0 349.4 307.4 1009 0.64 0.76 1.08 1.86
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5013 Incl. 66.0 176.0 110.0 361 0.83 0.89 1.35 2.31
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5014 76.0 304.0 228.0 748 0.51 0.84 1.00 1.71
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5014 Incl. 76.0 112.0 36.0 118 0.74 0.91 1.27 2.18
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5014 Incl. 171.0 211.0 40.0 131 0.59 0.94 1.14 1.95
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ZK0301 34.6 269.2 234.6 770 0.47 0.58 0.81 1.39
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ZK0301 Incl. 64.7 180.3 115.6 379 0.57 0.68 0.97 1.66
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ZK0701 25.4 231.9 206.5 677 0.66 1.43 1.49 2.56
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ZK0701 Incl. 25.4 118.1 92.7 304 0.97 1.96 2.11 3.62
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(1) Copper capped at 5%, gold capped at 10 g/t for all calculations.
(2) Copper and gold equivalent calculations use metal prices of
US$1.00/lb for copper and US$400/oz for gold.
Adjustment factors to account for differences in relative
metallurgical recoveries for gold and copper will depend upon the
completion of definitive metallurgical testing.
CuEQ equals Cu % + (Au g/t x 12.86/22.046)
AuEQ equals (Cu % x 22.046/12.86) + Au g/t


As part of its commitment to responsible mineral development, the Continental/China NetTV venture has initiated a community engagement program on behalf of the venture. Even at this early stage, the project has been able to provide some employment opportunities. In addition, project staff has met with teachers at a community school to discuss what resources might be needed. School buildings are in good condition and there are library materials and teaching supplies, but since it is necessary for many of the children to board at the school, there is a need for additional furniture and bedding to make eating areas and dormitories more comfortable and functional, and the project has been able to assist in the acquisition of some of these resources.

The long term goal of this active engagement is to ensure that project activities provide direct, tangible benefits for local residents and communities. Hence, active dialogue with the local residents in the Tibetan villages and the various authorities in the region will be ongoing in order that the project proceeds in a manner that respects local socio-economic priorities and incorporates a high standard of environmental management.

Infrastructure for the project site includes a paved highway and a hydroelectric transmission line that pass near to the southern boundary of the property. The highway provides access to the city of Xigaze (population 130,000), approximately 53 kilometres to the east, where fuel, food, lodging and office facilities are available. Other supplies, heavy equipment, equipment operators and vehicles are readily obtainable in Lhasa.

Mark Rebagliati, P.Eng., a Qualified Person as defined under National Instrument 43-101, is supervising the drilling program and quality assurance and quality control ("QAQC") on behalf of Continental Minerals Corporation. The program includes rigorous QAQC procedures. Acme Analytical Laboratories of Vancouver, BC, an ISO 9001:2000 accredited laboratory, performs the sample preparation and assaying for the project. Gold analysis is by 30 g Fire Assay fusion with an Inductively Coupled Plasma-Emission Spectroscopy (ICP-ES) finish. Copper assays are done by four acid digestion with an ICP-ES finish. Continental includes standards, blanks and duplicates in addition to the laboratory's internal quality control work.

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 future production, reserve potential, exploration drilling, exploitation activities and events or developments that the companies expect are forward-looking statements. Although the companies believe 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 Minerals Corporation, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

For more information on China NetTV Holdings Inc., Investors should review the Company's annual Form with the United States Securities Commission at www.sec.gov.


No regulatory authority has approved or disapproved the information contained in this news release.

Contact Information

  • Continental Minerals Corporation
    Melanee Henderson
    (604) 684-6365 or Toll Free: 1-800-667-2114
    (604) 684-8092 (FAX)
    www.continentalminerals.com
    or
    China NetTV Holdings Inc.
    Anthony Garson
    President and CEO
    (604) 641-1366
    (604) 641-1377 (FAX)
    www.ctvh-holdings.com