Continental Precious Minerals Inc.-2012 Annual and Special Meeting

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2012) - Continental Precious Minerals Inc. (TSX:CZQ) (the "Company" or "Continental") announced that a shareholder proposal set out in the Company's management information circular dated October 26, 2012 for its upcoming annual and special meeting of shareholders scheduled to be held on November 27, 2012 has been withdrawn by the shareholder that submitted the proposal. The proposal will therefore not be voted upon at the meeting.

About Continental Precious Minerals Inc.

Continental Precious Minerals Inc. is a multi-mineral exploration company with multiple interests and exploration licences in Sweden. Since March 2005, Continental's primary goal has been to advance its Swedish assets. The Company is also evaluating other opportunities as they emerge in current market conditions.