Continental Precious Minerals Inc. to Proceed with Share Consolidation

TORONTO, ONTARIO--(Marketwired - March 28, 2014) - Continental Precious Minerals Inc. (the "Company" or "Continental") (TSX:CZQ) announces that it has decided to proceed with a common share consolidation (the "Consolidation"), previously approved by shareholders of the Company at the annual and special meeting held on November 19, 2013, based on a ratio of six (6) pre-consolidated common shares for every one (1) post-consolidated common share.

The Consolidation will affect all shareholders uniformly (except for the treatment of post consolidated fractional common shares, as noted below) and will not affect any shareholder's proportional ownership interest in the Company. The principal effects of the Consolidation will be that the number of common shares issued and outstanding will be reduced from 56,749,845 pre-consolidated common shares outstanding as of the date hereof to approximately 9,458,307 post-consolidated common shares.

No fractional post-consolidation common shares or cash in lieu thereof will be issued or paid. Any fractional common shares resulting from the Consolidation will be rounded to the nearest whole common share, with any fraction of 0.5 or above rounded up. The exercise or conversion price and the number of common shares issuable under any convertible securities of the Company will be proportionately adjusted to account for the Consolidation.

The completion of the Consolidation is subject to the approval of the Toronto Stock Exchange.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements relating to the expected completion of the Consolidation. As such, forward-looking information addresses future events and conditions and so involves inherent assumptions, risks and uncertainties, including the requirement to obtain the approval of the Toronto Stock Exchange. Actual results could differ significantly from those currently projected. The forward-looking statements contained in this news release represent the Company's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date. The Company assumes no obligation to update the forward-looking statements, unless required by law.