Continuum Resources Ltd.

Continuum Resources Ltd.

March 21, 2005 11:32 ET

Continuum Resources Ltd.: Eploration Progress at the San Jose Silver-Gold Deposit, Oaxaca, Mexico




MARCH 21, 2005 - 11:32 ET

Continuum Resources Ltd.: Eploration Progress at the
San Jose Silver-Gold Deposit, Oaxaca, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2005) - Continuum
Resources Ltd. (TSX VENTURE:CNU)

- Second Bonanza Vein Cross Cut Yields 17.1 Meters (true width) Grading
3.80 gpt Gold and 449 gpt Silver;

- Drill Hole SJO-14 Intersects 2.22 Meters (true width) Grading 2.38 gpt
Gold and 589 gpt Silver

Continuum Resources Ltd (TSX VENTURE:CNU) is pleased to announce the
results of diamond drill holes SJO-14 and 15 at the San Jose silver-gold
deposit along with additional channel sampling results on the
newly-developed Level 6 exploration drifts. San Jose is an important
past-producer of gold and silver, and is located near the city of
Oaxaca, in southern Mexico.

Diamond drill hole SJO-14 intersected 2.22 meters, true thickness, at
2.38 gpt gold and 589 gpt silver, while SJO-15 intersected 6.91 meters,
true thickness, at 2.02 gpt gold and 216 gpt silver (Table 1). The
thicknesses of these intersections confirm the continuity of a wide vein
zone which remains open at depth.

Table 1. San Jose mine drillhole SJO-14 and 15 results

Bearing Final Interval Drilled True
Hole and depth in thick- thick- Gold Silver
Number Inclination (meters) meters ness ness (gpt) (gpt)
SJO-14 N70 degreesE, 262.00-
-50 degrees 336.60 265.45 3.45 2.22 2.38 589
includes 1.10 0.71 4.23 1045

SJO-15 N90 degreesW,
-50 degrees 421.25 236.25-
247.00 10.75 6.91 2.02 216
includes 1.45 0.93 8.68 874

Chip channel sampling has been completed on a second footwall cross-cut
across the Bonanza vein, 25 meters north of the main Trinidad shaft
cross cut. Assay results from similar sampling of the Trinidad shaft
cross cut (14.5 meters true width grading 6.52 gpt gold and 482 gpt
silver) were reported in a recent news release dated January 18, 2005.

After completion of the first cross cut, tunneling progressed along the
hanging wall of the Bonanza vein where chip channel sampling along 40
meters of strike length yielded a grade of 10.2 gpt gold and 1102 gpt
silver over the 2.26 meter-wide with of the tunnel (see news release
dated February 17, 2005).

Assay results from continuous channel sampling along the south wall of
the second, 20 meter long crosscut yielded a true thickness of 17.1
meters grading 3.80 gpt gold and 449 gpt silver. Results are pending
from channel sampling of a third footwall crosscut located 20 meters to
the south of the main Trinidad crosscut.

A second, major vein called the Fortuna vein is exposed on Level 6, and
is situated 40 meters west of the Bonanza vein. The Fortuna vein has
been chip channel sampled over its exposed width for a strike length of
66 meters in a Level 6 tunnel which follows the vein along its strike.
Samples across the vein were taken at approximately two meter intervals.
The channel samples average 2.37 meters wide, grading 2.29 gpt gold and
421 gpt silver over the 66 meter exposed strike length.

It is important to note that the Fortuna vein, like the Bonanza vein, is
wider than the tunnel. Therefore the width of each sample is constrained
by the width of the tunnel, and indicates a minimum width of the vein.

In summary, underground mapping and sampling has revealed three
north-south-striking zones of silver-gold mineralization in the vicinity
of the Trinidad shaft which includes, from east to west:

- The Bonanza vein, which grades an average of 10.2 gpt gold and 1102
gpt silver over a minimum width of 2.26 meters, along 40 meters of
exposed strike length;

- The footwall to the Bonanza vein, which has yielded 14.5 meters true
width grading 6.52 gpt gold and 482 gpt silver in a first cross cut and
17.1 meters true width grading 3.80 gpt gold and 449 gpt silver in a
second cross cut;

- The Fortuna vein, situated 40 meters west of the Bonanza vein, grading
an average of 2.29 gpt gold and 421 gpt silver over a minimum true width
of 2.37 meters, along a strike length of 66 meters.

All geological and assay data from underground and the 15 drill holes
completed to date have been submitted to Independent Mining Consultants,
in Tucson, Arizona, for the preparation of a resource calculation. This
calculation will consider only the northern-most Trinidad ore shoot,
which has been the focus of exploration by Continuum at San Jose to
date. In addition to the Trinidad ore shoot, at least two other zones of
mineralization are known to occur along the three kilometer strike
length of the vein system hosted on Continuum's San Jose property.
Evidence for additional zones of precious metals mineralization includes
the presence of historic shafts and underground mine openings, and the
strongly-anomalous gold and silver geochemistry of the surface
outcroppings of the vein system for its three kilometer strike length on
the property.

Exploration will now shift to determining, by surface diamond drilling,
the nature and extent of additional ore shoots on the property.

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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