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 28, 2006 09:01 ET

Continental Minerals Ltd. and Great China Mining Inc.: New Copper-Gold Discovery at Xietongmen

Drilling intersects 302 meters grading 0.82% CuEQ

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) - Continental Minerals Ltd. ("Continental") (TSX VENTURE:KMK)(OTCBB:KMKCF) and Great China Mining Inc. ("Great China Mining") (OTCBB:GCHA) announce that drilling of exploration targets has resulted in the discovery of a new copper-gold deposit at the Xietongmen property. The Xietongmen property is located 240 kilometers from the city of Lhasa in Tibet, People's Republic of China.

A drill discovery, indicating potential for new high-grade porphyry copper-gold deposit, has been made in two holes in the Newtongmen area. Newtongmen is located 3 km northwest of the Xietongmen deposit. The Newtongmen discovery is hosted by the same alteration zone as the Xietongmen deposit and lies within a high copper-gold anomaly, 1.5 square kilometers in area, outlined during a rock chip sampling program completed earlier this year.

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% copper equivalent (CuEQ).

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 in April 2007 to delineate this new discovery.

Most of the other holes from this series are from the Langtongmen copper-gold zone, located 1.5 kilometers along strike to the northwest of the Xietongmen deposit. Langtongmen is defined by coincident copper and gold anomalies from rock chip samples. Exploration hole 5057 drilled near the anomalous area in 2005 returned a 135.5 meter interval grading 0.28% copper and 0.31 g/t gold. The 2006 holes at Langtongmen are spaced at 100 to 300 meter intervals over an area of approximately 1.5 square kilometers. These holes intersected multiple intervals, ranging from 12 to 131 meters in length, of anomalous copper and gold assays. Highlights include hole 6185L that intersected 43.4 meters grading 0.41% CuEQ and hole 6205L that intersected 130.9 meters grading 0.39% CuEQ.

A five kilometer long northwest trending corridor has been outlined on the property, extending from the Xietongmen deposit in the southeast to the Newtongmen zone in the northwest. A Property Location Map and maps showing the current drill holes in relation to copper and gold anomalies in the Xietongmen, Langtongmen and Newtongmen areas are posted on the website at www.continentalminerals.com and www.greatchinamining.com. A cross section of the Newtongmen discovery, showing the two discovery drill holes, is also provided.

The 2006 detailed drilling program at the Xietongmen deposit was completed in September. The program successfully expanded the substantial copper-gold deposit in all directions. The results from the final hole, number 6201, drilled on the northeastern perimeter of the Xietongmen deposit are also shown in the attached table and on an updated drill plan. Engineering, environmental and socioeconomic studies for the Xietongmen feasibility study and environmental and social impact assessments continue, as well as community and stakeholder engagement activities at site.

Steps required to complete the merger between Continental and Great China Mining, and unify 100% ownership in the Xietongmen property in Continental (see joint news release of June 12, 2006), are also proceeding. The merger is expected to be finalized in the fourth quarter of 2006, or shortly thereafter.

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") programs 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.

Gerald Panneton, President & CEO

Continental Minerals Corporation

No regulatory authority has approved or disapproved the information contained in this news release. The TSX Venture Exchange has neither approved nor disapproved the information contained in this release.

Forward-Looking Information

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, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the companies expect are forward-looking statements. Although the companies believe that 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 form those in the forward looking statements. The likelihood of future mining at Xietongmen is subject to a large number of risks, including changes in and the effect of laws, regulations and government policies affecting mining and natural resource exploration and exploitation and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground workings and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the companies on acceptable terms or on any terms at all. There is no known ore at Xietongmen and there is no assurance that the mineralization at Xietongmen will ever be classified as ore.

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

For more information on Great China Mining, investors should review Great China Mining's annual Form with the United States Securities and Exchange Commission at www.sec.gov.



XIETONGMEN EXPLORATION DRILLING
ASSAY RESULTS - NOVEMBER 28, 2006

--------------------------------------------------------------------------
Drill From To Intercept Intercept Cu Au CuEQ(1)
Hole Section (metres) (metres) (metres) (feet) % g/t %
--------------------------------------------------------------------------
6184L 3250100N 0.0 149.0 149.0 489 0.21 0.34 0.38
--------------------------------------------------------------------------
6184L incl. 3250100N 22.0 74.0 52.0 171 0.30 0.54 0.59
--------------------------------------------------------------------------
6184L 3250100N 251.0 273.0 22.0 72 0.15 0.16 0.24
--------------------------------------------------------------------------
6184L 3250100N 298.1 350.0 51.9 170 0.16 0.24 0.28
--------------------------------------------------------------------------
6185L 3249550N 14.6 58.0 43.4 142 0.27 0.27 0.41
--------------------------------------------------------------------------
6188L 3249800N 64.0 88.0 24.0 79 0.17 0.09 0.22
--------------------------------------------------------------------------
6189L 3250100N 42.0 78.0 36.0 118 0.19 0.24 0.32
--------------------------------------------------------------------------
6195L 3250100N 45.8 58.0 12.2 40 0.25 0.18 0.35
--------------------------------------------------------------------------
6195L 3250100N 70.0 124.0 54.0 177 0.19 0.27 0.33
--------------------------------------------------------------------------
6195L 3250100N 148.0 188.0 40.0 131 0.18 0.14 0.26
--------------------------------------------------------------------------
6199L 3249950N No significant intersections
--------------------------------------------------------------------------
6201X 3249400N 253.4 397.5 144.1 473 0.40 0.49 0.66
--------------------------------------------------------------------------
6203N 3251150N 0.0 210.6 210.6 691 0.59 0.44 0.82
--------------------------------------------------------------------------
6204L 3250400N 26.0 44.0 18.0 59 0.15 0.28 0.30
--------------------------------------------------------------------------
6204L 3250400N 52.0 107.4 55.4 182 0.14 0.20 0.24
--------------------------------------------------------------------------
6205L 3249550N 12.0 142.9 130.9 429 0.28 0.22 0.39
--------------------------------------------------------------------------
6205L 3249550N 142.9 199.2 56.3 185 0.19 0.12 0.25
--------------------------------------------------------------------------
6205L 3249550N 199.2 284.9 85.7 281 0.07 0.08 0.12
--------------------------------------------------------------------------
6205L 3249550N 284.9 310.5 25.6 84 0.01 0.02 0.02
--------------------------------------------------------------------------
6212L 3249550N 62.6 88.8 26.2 86 0.16 0.09 0.20
--------------------------------------------------------------------------
6213N 3251250N 0.8 303.0 302.2 991 0.57 0.48 0.82
--------------------------------------------------------------------------
6213N incl. 3251250N 18.0 103.0 85.0 279 0.82 0.82 1.25
--------------------------------------------------------------------------
6213N incl. 3251250N 60.0 103.0 43.0 141 0.96 0.82 1.39
--------------------------------------------------------------------------
6213N 3251250N 313.0 350.6 37.6 123 0.23 0.14 0.31
--------------------------------------------------------------------------
6214L 3250500N 0.0 81.1 81.1 266 0.17 0.34 0.35
--------------------------------------------------------------------------

X- Xietongmen; l - Langtongmen; N - Newtongmen

(1) Copper and gold equivalent calculations use metal prices of US$1.25/lb
for copper and US$450/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 14.47/27.56)
AuEQ equals (Cu % x 27.56/14.47) + Au g/t
--------------------------------------------------------------------------



Contact Information

  • Continental Minerals Corporation
    Shawn Wallace
    Investor Services
    (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
    (604) 641-1366
    (604) 641-1377 (FAX)
    Website: www.greatchinamining.com