Continuum Resources Ltd.
TSX VENTURE : CNU

Continuum Resources Ltd.

June 22, 2005 08:45 ET

Continuum and Tribute Report Drilling Results from Richardson Lake-McIntyre Project, Northern Ontario: Best Intersection 14.9 gpt Gold Over 1.52 Meters

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 22, 2005) - Continuum Resources Ltd. ("Continuum)(TSX VENTURE:CNU) and Tribute Minerals Inc. ("Tribute")(TSX VENTURE:TBM) announce results of diamond drilling at their Richardson Lake, Ontario gold project, including a second, significant intersection on the McIntyre prospect. The project is located approximately 100 kilometers east of Red Lake, in northern Ontario.

Continuum and Tribute have jointly optioned the McIntyre property, which adjoins the Richardson Lake property, from Sunridge Gold Corporation. The Richardson Lake property is under option to Continuum from Tribute. Continuum is the operator on both properties, which have a combined surface area of 1,664 hectares.

A total of 2,346 meters were completed in 18 holes along approximately 8 kilometers of an E-W-trending linear zone of surface gold showings, historic trenches, and a shaft (the Cooper shaft) which was located on high-grade, surface-outcropping gold mineralization. One hole (MB04-2) completed by Continuum during 2004 intersected gold mineralization approximately 110 meters vertically beneath the Cooper shaft. This hole intersected 14.65 gpt gold over a 2.0 meter interval (see Continuum press release dated May 7, 2004). A historic hole in this same area intersected 0.54 ounces per ton gold (16.8 gpt) over a core interval of 9.2 meters (see Continuum press release dated January 16, 2004). A drill hole from this latest round of drilling (MC5-5) penetrated the mineralized structure approximately 40 meters beneath the Cooper shaft, or 70 meters vertically above MBO4-02, and returned 14.9 gpt gold over a 1.52 meter interval. Drill holes MC-5,6,7 and MB04-2 form a steeply-plunging zone of higher-grade mineralization from surface to a depth of 110 meters. Further drilling is definitely warranted to determine the potential depth and on-strike continuity of this zone.

Other holes placed along a 250 meter-long strike of the E-W-trending Cooper structure intersected anomalous values, but not of the tenor, nor width, of the holes beneath the Cooper shaft. Below are listed anomalous intersections from drilling in the vicinity of the historic Cooper shaft on the McIntyre property:



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Hole From To Meters Gold gpt
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MC-3 57.08 59.24 2.16 0.70
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MC-5 51.48 53.00 1.52 14.90
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MB04-2 (2004) 154.60 158.03 3.43 9.60
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Includes 154.60 156.59 1.99 14.65
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includes 155.18 156.59 1.41 18.82
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MC-6 70.42 71.50 1.08 4.70
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MC-7 81.26 81.87 0.61 8.70
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MC-8 45.94 46.42 0.48 3.20
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MC-9 53.87 55.19 1.30 3.10
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MC-9 57.13 57.70 0.57 2.40
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MC-10 58.22 59.06 0.84 0.90
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MC-11 44.78 45.14 0.36 0.70
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Two other zones were tested along the continuation of the Cooper structure to the east (the Treasure Island and Penson Lake Zones). Despite the wide-spread quartz-carbonate alteration and quartz veining, along with the presence of visible gold in two holes, results were disappointing. Therefore, future diamond drilling will be directed towards advancing the Cooper target.

Diamond drilling was carried out by Major Drilling Group International Inc. Geochemical analyses were carried out by Accurassay Labs in Thunder Bay, Ontario.

On-site drilling, geological, and sampling supervision was carried out by Garry Smith, P.Geo., with additional supervision by Lawrence Dick, Ph.D., P.Geo., both Qualified Persons under the guidelines set forth by National Instrument 43-101F.

On behalf of the Boards of Continuum Resources Ltd. and Tribute Minerals Inc:

Lawrence A. Dick, President, Continuum Resources Ltd.

Ian Brodie-Brown, President, Tribute Minerals Inc.

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