Continuum Resources Ltd.
TSX VENTURE : CNU

Continuum Resources Ltd.

June 28, 2005 09:15 ET

Continuum Reports Results of Exploration in SE Oaxaca: High-Grade Polymetallic Mineralization Staked at Lachiguiri

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 28, 2005) - Continuum Resources Ltd. (TSX VENTURE:CNU) is pleased to announce regional reconnaissance exploration progress in the state of Oaxaca, southern Mexico. The Lachiguiri project is located 140 km southeast of the city of Oaxaca, near the planned route of a future, major state highway. The prospect was discovered as part of an ongoing regional exploration program targeting gold and silver deposits and prospects throughout Oaxaca.

At Lachiguiri, a 3000 hectare claim has been placed by Continuum over an area where mapping and rock sampling have indicated highly-anomalous geochemical values and favourable geology for the development of carbonate replacement Ag-Pb-Zn-Au mineralization.

Eighty nine rock samples were taken over a four kilometer strike length of a rhyolitic pebble dike complex intruding Cretaceous limestone in the project area. Chalcedonic and cockscomb quartz is the dominant form of alteration and has replaced large volumes of the limestone over a broad area around the pebble dikes. Historic pits and prospects penetrating thin alluvial cover were sampled to characterize the mineralization. Of the 89 grab samples taken, 23 contained gold values assaying over 0.10 gpt; 5 contained over 0.50 gpt gold with the highest grade sample containing 3.69 gpt. Eighteen of these samples contained over 100 gpt silver; six samples contained over 300 gpt silver with the highest grade sample containing 1510 gpt silver. Twelve of the samples contained lead in the percent range; five samples in excess of 3% with one value up to 23.2% lead, all in oxide form. Four samples contained zinc values in excess of 1% with the highest grade sample containing 7.16% zinc. None of these samples can be used to formulate a resource, but merely indicate that significant anomalous metal values exist along a substantial strike length and indicate that geological follow-up is warranted.

The Lachiguiri mineralization and its association with pebble dikes and limestone host rocks resemble the carbonate replacement deposits of the Mexican Altiplano. Additional detailed mapping and ground geophysics will be used to outline drill targets at Lachiguiri.

The Qualified Person for this project, under the definition established by National Instrument 43-101, is Lawrence Dick, Ph.D., P.Geo. Additional supervision in the field and sampling quality assurance was provided by Chris Osterman, Ph.D., a registered professional geologist in the State of Arizona. Geochemical analyses were carried out by ALS Chemex in North Vancouver, B.C.

On behalf of Continuum Resources Ltd.

Lawrence A. Dick, Ph.D., P.Geo.


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