Continuum Resources Ltd.
TSX VENTURE : CNU

Continuum Resources Ltd.

January 31, 2006 23:00 ET

Continuum Resources Ltd.: $3,080,000 Placement with Bolder

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 31, 2006) - Continuum Resources Ltd. (TSX VENTURE:CNU) -

The Company announces that it has engaged Bolder Investment Partners to conduct, on a commercially reasonable efforts basis, a private placement of offering up to $3,080,000. This placement is subject to the approval of the TSX Venture Exchange Inc.

The financing is comprised of up to 14,000,000 units ("Units") at $0.22 per Unit. Each Unit will consist of one common share and one full, non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.30 per share for a period of one year. The warrant shall be subject to a "forced conversion" should the Company's stock trade at a price greater than $0.50 for more than 20 days. At that time the warrant holder will have 30 days to convert the warrant to a share or the warrant is subject to cancellation by the Company.

A commission of 8% of the total proceeds raised is payable, of which the Agents may elect to be paid in Units having the same terms as the Units offered in the private placement. The Agent will also receive 10% Agent's Warrants, with each Agent's Warrant having the same terms as the warrants forming part of the units.

The proceeds of the private placement will be used primarily for exploration on the Company's mineral properties and for general working capital. Continuum is currently actively exploring numerous epithermal precious metals deposits primarily the San Jose and Natividad prospects, both located in the state of Oaxaca in Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS

CONTINUUM RESOURCES LTD.

Lawrence Dick, President


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

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