Continuum Resources Ltd.

Continuum Resources Ltd.

March 14, 2005 10:45 ET

Continuum Resources Ltd.: New Tunneling Confirms Gold-Silver Mineralization Is Open To The North Of Historic Mine Workings In The Natividad Mine, Oaxaca, Mexico


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CONTINUUM RESOURCES LTD.

TSX VENTURE SYMBOL: CNU

MARCH 14, 2005 - 10:45 ET

Continuum Resources Ltd.: New Tunneling Confirms
Gold-Silver Mineralization Is Open To The North Of
Historic Mine Workings In The Natividad Mine, Oaxaca,
Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 14, 2005) - Continuum
Resources Ltd. (TSX VENTURE:CNU) -

- Channel sampling from first of four, subparallel vein systems exposed
in exploratory tunnel returns an average grade of 7.25 gpt gold and 279
gpt silver over a true thickness of 1.36 m;

- Best intersection grades 16.40 gpt gold across 3.9 meters true width.

Continuum Resources Ltd. (TSX VENTURE:CNU) is pleased to announce the
discovery of epithermal vein-hosted, gold and silver mineralization on
the north side of a major cross-cutting fault which marked the northern
limit of historic mining, at their Natividad gold-silver deposit. With
the confirmation that the precious metals-hosting vein system has been
laterally offset by the fault, but otherwise continues along strike, the
deposit is now open, and unexplored towards the north. The important,
historically-producing deposit is located near the city of Oaxaca, in
Oaxaca State, southern Mexico, and was the largest gold producer in the
State.

Continuum has been rehabilitating underground tunnels at Natividad to
access areas of historic mining, and has completed approximately 800
meters of exploration tunnel rehabilitation to access the potential
on-strike projection of the vein system, north of the cross-cutting
Capulalpan Fault. The tunneling has confirmed that the four, principal
vein systems which hosted past production have been offset by the fault,
and continue, unexplored, towards the north (the Northern Extension
Zone). Channel sampling completed on two meter intervals on one of the
four Northern Extension Zone veins (Table 1) has yielded an average
grade of 7.25 gpt gold and 279 gpt of silver over an exposed strike
length of 38 meters. The most significant gold intersection returned
16.40 gpt gold over a width of 3.90 meters. It is emphasized that the
sampling results are from an exposed length of only 38 meters, and from
just one of at least four separate, subparallel-striking veins which
comprise the deposit. Underground tunneling is presently cleaning old
exploratory tunnels which will intersect all four veins systems in the
area immediately north of the Capulalpan Fault, and will provide
exposures for additional channel sampling across the entire mineralized
system.

Table 1. Chip channel sample results on Level 1, North Exploration
Drive, Natividad mine, from north to south.



-----------------------------------------------
-----------------------------------------------
Sample Sampled Gold Silver
width(m) in gpt in gpt
-----------------------------------------------
20884 1.0 6.3 1165
20885 0.9 8.78 624
20870 0.4 23.10 2400
20886 1.1 29.70 262
20871 0.5 17.75 442
20888 1.0 3.41 67
20872 0.4 2.08 60
20893 0.8 1.48 162
20894 0.8 6.04 734
20873 0.7 1.82 57
20897,8 1.9 2.41 188
20899 1.2 0.40 70
20874 0.8 1.29 151
20900 1.9 2.01 76
23603 2.3 2.78 380
23606,7,8 3.9 16.40 115
20875 0.3 2.70 467
23609,10,11 4.9 4.21 85
20876 1.1 8.76 399
20877 0.5 0.47 52
20878 0.6 0.67 21
-----------------------------------------------
-----------------------------------------------


Natividad is a bonanza-grade, epithermal gold-silver deposit which has
produced approximately 1 million ounces of gold, and 23 million ounces
of silver since records were kept beginning in the 1930's, although
production began in the late 1700's. Small-scale production continues at
present. Historic production was from shale-hosted, parallel-trending,
bonanza-grade quartz-adularia veins ranging up to 1,000 gpt gold and
over 4,000 gpt silver. The multiple veins have variable widths up to 5
meters, and average approximately 1.5 meters. Average grades are
estimated to have been in the order of 20 gpt gold and over 300 gpt
silver, while bonanza-grade ore shoots produced much higher-grade ores
(source: historical mining records at the mine site). Mine records from
1948-1960 show an average annual grade of the ore mined as ranging
between 10-61 gpt gold and between 264-1072 gpt silver.

In a recent press release (January 26, 2005) Continuum released initial
results of sampling from active mine openings south of the Capulalpan
Fault, which tabulated channel samples containing up to 206 gpt gold
(across 0.90 meters) and 4.1 kilos per ton silver (across 0.40 meters).
The average grade of all samples taken from Level 6 of the mine was
32.16 gpt gold and 871.1 gpt silver over a true width of 0.84 meters.

Additional sampling of Levels 4 and 6 of the deposit has returned
similar, high grade results, as shown in Table 2. The most significant
assay is 122.5 gpt gold and 7,450 gpt silver (7.45 kilos per ton) over a
true width of 1.0 meters.

Table 2. Chip channel samples over active stopes on Levels 4 and 6,
Natividad mines.



-------------------------------------------------------
-------------------------------------------------------
Sample Level Channel Gold gpt Silver gpt
width
-------------------------------------------------------
20854 4 0.3 46.7 7990
20855 4 0.3 1.62 435
20856 4 0.2 2.06 971
20857 4 0.3 1.54 266
20858 4 0.5 16.30 2170
20859 4 0.7 3.30 540
20860 4 1.3 0.88 182
20861 4 0.5 4.39 913
20862 6 1.2 68.90 626
20863 4 0.6 0.43 8
20864 4 0.4 4.18 299
20865 4 0.6 0.39 35
20866 6 0.6 12.85 52
20867 6 1.4 0.91 31
20868 6 1.0 122.50 7450
20869 6 0.2 68.60 1550
20881 4 0.85 4.87 2710
20882 4 1.0 2.39 1835
20883 4 0.6 20.6 4550
-------------------------------------------------------
-------------------------------------------------------


Continuum will continue with tunnel rehabilitation as preparation for
underground diamond drilling, which is planned to commence by the end of
March, 2005. Objectives for the underground drilling will be:

- To test the potential depth continuation of historically mined ore
shoots over approximately 2.0 kilometers of historically-mined strike
length;

- To test the newly-confirmed Northern Extension Zone with fans of drill
holes vertically above and below the Level 1 tunnels.

In addition, new tunneling will follow the strike extension of the veins
in the Northern Extension Zone towards the north, providing new
exposures for channel sampling, and access for additional drill stations.

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.

-30-

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