Continuum Resources Ltd.

Continuum Resources Ltd.

March 21, 2006 09:15 ET

Continuum Exploration Progress in Mexico and Canada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2006) - Continuum Resources Ltd. (TSX VENTURE:CNU) is pleased to announce that diamond drilling is underway at the Predilecta property in central Oaxaca. An initial round of 600 meters of core drilling is planned at Predilecta, a mesothermal gold deposit, to evaluate the high grade gold veins discussed in the Company's news release of April 2004. Predilecta is located in the Proterozoic-aged gneisses of the Oaxaca Metamorphic Complex, approximately 26 km southeast of Continuum's San Jose epithermal gold and silver deposit. San Jose is currently being drilled by Continuum's joint venture partner, Fortuna Silver.

At Continuum's Natividad project, located 72 km northeast of Oaxaca City, the Company has completed two diamond drill holes totaling 500 meters in the southern portion of the Natividad district to evaluate epithermal gold and silver veins below the level of the San Jose de Gracia adit. Assays are pending. Although the underground workings are caved, the drill holes were motivated by historical high grade gold mineralization in the adit as indicated in archival sample maps of the Natividad Mining Company. Additionally, Continuum has assumed operational control of the Natividad mine with the intention of driving cross-cuts on Level 6 of the mine to reach suitable positions for underground diamond drill stations. Underground drilling will evaluate the epithermal veins to the north of the existing workings and below Level 10, which is 130 meters below Level 6 and currently flooded. The Company believes it will take three months of underground rehabilitation to establish these drill stations.

At Continuum's Talea project, located 20 km east of the Natividad mine, Continuum operates a joint venture with Cloudbreak Resources. The epithermal silver-dominant mineralization hosted by black shale is similar to that at Natividad. Drill targets have been identified at Talea and negotiations are underway with the Talea community and local landowners to permit road building and subsequent diamond drilling.

At Continuum's Lachiguiri project, located 135 km southeast of Oaxaca City, a soil sampling program was completed and consisted of 363 samples taken over the contact between a Cretaceous limestone and Tertiary pebble dike. Of the 363 samples, 21 anomalous silver values ranging from 22-to-311 ppm were encountered. Similarly, 31 anomalous zinc values ranging from 240-to-12900 ppm were found and eleven anomalous lead values ranging from 1205-to-83500 ppm were found on the soil grid. The soil sampling grid will be expanded to the south. The Company believes that the Lachiguiri project mineralization may be similar to the carbonate replacement deposits of the Mexican Altiplano.

At Richardson Lake, Ontario, diamond drilling is currently underway with 1200 meters of core planned around the Cooper vein zone discovered in 2005. The deposit is a mesothermal vein system.

The Qualified Person for Continuum's Mexican projects, under the definition established by National Instrument 43-101, is Chris Osterman, Ph.D., P.Geo. Additional supervision in the field and sampling quality assurance was provided by Raul Diaz, M.Sc. Garry K. Smith, P. Geo., is providing field assistance and supervision at Continuum's Richardson Lake project.

On behalf of Continuum Resources Ltd.

Chris Osterman, Ph.D., P.Geo.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information