Continental Precious Minerals Inc.

Continental Precious Minerals Inc.

October 30, 2013 09:59 ET

Continental Precious Minerals Inc.-Litigation Update

TORONTO, ONTARIO--(Marketwired - Oct. 30, 2013) - Continental Precious Minerals Inc. ("Continental" or the "Company") (TSX:CZQ) is pleased to announce that it has reached a settlement with respect to its claim against Bennett Jones LLP ("Bennett Jones"), as trustee, for the return of the $1.5 million to the Company.

As earlier reported, in June 2013, the Company challenged the validity of the trust indenture and commenced an action against Bennett Jones for, among other things, the return of the $1.5 million. The parties have reached a confidential settlement pursuant to which the trust indenture is being terminated and the $1.5 million has been returned to Continental.

"We are pleased with this resolution," commented Continental's Vice Chairman Rana Vig, "and the board continues to be committed to act in the best interests of the shareholders."

The litigation between Edward Godin, the former president, CEO and a director of Continental and the Company is ongoing.

Common Shares: 56,749,845

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