Continuum Resources Ltd.
TSX VENTURE : CNU

Continuum Resources Ltd.

July 08, 2005 17:19 ET

Continuum Resources Ltd.: News Release

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 8, 2005) - Continuum Resources Ltd. (TSX VENTURE:CNU) (the "Company") announces that it has closed the first tranche of the non-brokered private placement announced on June 21, 2005 in the amount of 1,420,000 units at a price of $0.25 per unit for proceeds of $355,000. Each unit consists of one common share and one-half of one non-transferable share purchase warrant, each whole warrant exercisable into one common share for a period of one year at a price of $0.30 per share. A cash commission of $28,400 was paid to Bolder Investments Partners, Ltd.

All securities issued on this first tranche are subject to a four-month hold period expiring on October 28, 2005, in accordance with the policies of the TSX Venture Exchange and the provisions of the British Columbia Securities Act.

The proceeds of the private placement will be used primarily for exploration on the Company's mineral properties and for general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS

CONTINUUM RESOURCES LTD.

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