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

Continental Minerals Corporation
Great China Mining Inc.
OTC Bulletin Board : GCHA

Great China Mining Inc.

November 30, 2006 13:18 ET

Continental Minerals Corporation and Great China Mining Inc.: Completion of Merger With Great China Targeted for December, 2006

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 30, 2006) - Gerald S. Panneton, President and CEO of Continental Minerals Corporation ("Continental" or the "Company") (TSX VENTURE:KMK)(OTCBB:KMKCF) and Anthony Garson, President and CEO of Great China Mining Inc. ("Great China") (OTCBB:GCHA) announce that the Registration Statement on Form F-4 (the "Registration Statement") filed by Continental and Great China with the United States Securities and Exchange Commission (the "SEC") has been declared effective. The Registration Statement includes a prospectus and related materials to register the common shares of Continental to be issued in exchange for Great China common shares in order to effect the merger with Continental (the "Merger") (initially announced in a joint press released dated April 13, 2006), whereby the companies will be merged to unify 100% ownership in the Xietongmen copper-gold property in Continental.

The Registration Statement incorporates a proxy statement/prospectus (the "Proxy Statement/Prospectus") that Great China is to mail to its stockholders in connection with obtaining approval of the proposed Merger. Great China has set December 14, 2006 as the date for its stockholder meeting to consider the Merger, with a record date of November 30, 2006.

Completion of the share exchange required to effect the Merger and certain related transactions is also subject to regulatory approval and other standard closing conditions. If these conditions are satisfied, it is anticipated that completion of the Merger will occur in December, 2006 after the Great China stockholder meeting.

Gerald Panneton, President & CEO

Continental Minerals Corporation

Anthony Garson, President & CEO

Great China Mining Inc.

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

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 proposed merger, acquisition of additional property, 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, Investors should review the Company's annual Form 20-F filing with the SEC at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com.

For more information on Great China, Investors should review Great China's annual report on Form 10-KSB with the SEC at www.sec.gov.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Continental Minerals Corporation
    Gerald Panneton
    President & CEO
    (604) 684-6365 or Toll Free 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.continentalminerals.com
    or
    Great China Mining Inc.
    Anthony Garson
    President & CEO
    (604) 641-1366
    (604) 641-1377 (FAX)
    Website: www.greatchinamining.com