Continental Precious Minerals Inc.: Completion of Transaction to Reduce Net Profits Royalty Interest

TORONTO, ONTARIO--(Marketwire - March 7, 2012) - Continental Precious Minerals Inc. (TSX:CZQ) (the "Company" or "Continental") is pleased to announce that it has completed the transaction first announced on February 27, 2012. Accordingly, Geoforum Scandinavia AB has reduced its Net Profits royalty interest in the Company's MMS Viken Project from 5% to 1% and the Company has issued to Geoforum 5,000,000 common shares and $57,735.

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.