Continental Minerals Corporation
TSX VENTURE : KMK
OTC Bulletin Board : KMKCF

Continental Minerals Corporation

January 28, 2008 09:05 ET

Excellent Results From Drilling at Continental's Newtongmen Deposit

Hole 7229 intersects 594 meters grading 0.48% CuEQ (0.35% Cu and 0.25 g/t Au)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2008) - Continental Minerals Corporation ("Continental" or the "Company") (TSX VENTURE:KMK)(OTCBB:KMKCF) announces the additional results from the 2007 drilling program on its Newtongmen discovery at the Xietongmen property, located 240 kilometers from Lhasa in the Tibet Autonomous Region of China.

Diamond drilling has continued to confirm the continuity of porphyry copper-gold mineralization at Newtongmen, and expand the deposit. Drills were deployed on a 100 meter by 100 meter grid, testing the deposit for 500-600 meters along eight north-south cross sections. A Drill Hole Plan and a Cross Section are posted on the Company's website. The current results, shown in the Table of Assays Results (attached), are largely from the eastern part of the grid. Highlights are presented from the eastern to westernmost section below:

Hole 7236N on section 636800E intersected 349 meters grading 0.43% CuEQ (0.35% Cu and 0.15 g/t Au), including 78 meters grading 0.72% CuEQ (0.59% Cu and 0.25 g/t Au).

Hole 7232N, on section 636700E, intersected 379 meters grading 0.34% CuEQ (0.28% Cu and 0.12 g/t Au), including 74 meters grading 0.51% CuEQ (0.43% Cu and 0.15 g/t Au).

Hole 7225N on section 636600E intersected 492 meters grading 0.46% CuEQ (0.36% Cu and 0.21 g/t Au), including 152 meters grading 0.68% copper equivalent (CuEQ; 0.50% copper and 0.35 g/t gold). This hole is located 100 meters south of Hole 7221 (previously released), which intersected 223 meters grading 0.76% copper equivalent (CuEQ; 0.54% copper and 0.43 g/t gold), including 77 meters grading 1.23% CuEQ (0.88% Cu and 0.67 g/t Au). Hole 7230N, located 100 meters south of hole 7225N, intersected 325 meters grading 0.46% CuEQ (0.34% Cu and 0.23 g/t Au), including 132 meters grading 0.75% CuEQ (0.57% Cu and 0.35 g/t Au).

Holes 7229N, 7223N, 7226N and 7231N were drilled on section 636400E. Hole 7229 intersected 594 meters grading 0.48% CuEQ (0.35% Cu and 0.25 g/t Au), including 148 meters grading 0.72% CuEQ (0.48% Cu and 0.45 g/t Au). Hole 7223 (previously released) intersected 63 meters grading 1.01% CuEQ (0.64% Cu and 0.71 g/t Au). Hole 7226N intersected 424 meters grading 0.42% CuEQ (0.32% Cu and 0.20 g/t Au), including 215 meters grading 0.56% CuEQ (0.42% Cu and 0.26 g/t Au) and Hole 7231N intersected 325 meters grading 0.46% CuEQ (0.34% Cu and 0.23 g/t Au), including 149 meters grading 0.56% CuEQ (0.41% Cu and 0.30 g/t Au).

Hole 7234, drilled on section 636300E, 100 meters west of hole 7223N, intersected 600 meters grading 0.37% CuEQ (0.28% Cu and 0.18 g/t Au), including 111 meters grading 0.54% CuEQ (0.38% Cu and 0.30 g/t Au).

Long intervals of copper and gold mineralization were encountered in most of the holes from the 2007 drilling program at Newtongmen, with higher grade intervals intersected near to the surface, providing an excellent opportunity to define a higher grade starter pit. The deposit also remains open to further expansion in all directions.

Complete assays for 16 additional holes are pending.

Mark Rebagliati, P.Eng., a Qualified Person as defined under National Instrument 43-101, is supervising the drilling program and quality assurance and quality control ("QAQC") programs on behalf of Continental Minerals Corporation, and has reviewed the contents of this release.

Continental's program includes rigorous QAQC procedures. Acme Analytical Laboratories of Vancouver, BC, an ISO 9001:2000 accredited laboratory, performs the sample pulverization and assaying for the project. Gold analysis is by 30 g Fire Assay fusion with an Inductively Coupled Plasma-Emission Spectroscopy (ICP-ES) finish. Copper assays are done by four acid digestion with an ICP-ES/ICP-Mass Spectroscopy finish. Continental includes standards, blanks and duplicates in addition to the laboratory's internal quality control work.

For additional details, please visit the Company's website at www.continentalminerals.com or contact Investor Services at (604) 684-6365, or within North America at 1-800-667-2114.

On behalf of the Board of Directors

Ronald W. Thiessen, Co-Chairman

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Continental Minerals Corporation, Investors should review the Company's annual Form 20-F filing with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com.



TABLE OF ASSAY RESULTS - NEWTONGMEN DEPOSIT

--------------------------------------------------------------------------
Inter- Inter- CuEQ
Drill From To cept cept Cu Au (1)
Hole Section (metres) (metres) (metres) (feet) % g/t %
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7224N 636600E 5.1 477.7 472.6 1551 0.27 0.15 0.35
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7224N Incl. 636600E 72.9 153.0 80.1 263 0.39 0.29 0.54
--------------------------------------------------------------------------
7225N 636600E 0.0 492.4 492.4 1616 0.36 0.21 0.46
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7225N Incl. 636600E 10.6 163.0 152.4 500 0.50 0.35 0.68
--------------------------------------------------------------------------
7225N Incl. 636600E 211.0 261.0 50.0 164 0.39 0.25 0.52
--------------------------------------------------------------------------
7225N Incl. 636600E 366.0 443.0 77.0 253 0.35 0.17 0.44
--------------------------------------------------------------------------
7226N 636400E 0.0 424.3 424.3 1392 0.32 0.20 0.42
--------------------------------------------------------------------------
7226N Incl. 636400E 13.0 228.0 215.0 705 0.42 0.26 0.56
--------------------------------------------------------------------------
7226N and 636400E 186.7 219.0 32.3 106 0.62 0.68 0.98
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7226N Incl. 636400E 246.0 277.0 31.0 102 0.33 0.25 0.46
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7227N 636700E 29.4 91.0 61.6 202 0.38 0.17 0.47
--------------------------------------------------------------------------
7227N 636700E 242.5 322.4 79.9 262 0.30 0.11 0.36
--------------------------------------------------------------------------
7228N 636700E 97.2 238.2 141.0 463 0.24 0.10 0.29
--------------------------------------------------------------------------
7228N Incl. 636700E 97.2 134.4 37.2 122 0.35 0.19 0.45
--------------------------------------------------------------------------
7229N 636400E 14.2 607.8 593.6 1948 0.35 0.25 0.48
--------------------------------------------------------------------------
7229N Incl. 636400E 108.6 256.3 147.7 485 0.48 0.45 0.72
--------------------------------------------------------------------------
7229N Incl. 636400E 474.6 607.8 133.2 437 0.42 0.19 0.52
--------------------------------------------------------------------------
7230N 636600E 0.0 270.4 270.4 887 0.41 0.25 0.55
--------------------------------------------------------------------------
7230N Incl. 636600E 0.0 131.7 131.7 432 0.57 0.35 0.75
--------------------------------------------------------------------------
7231N 636400E 0.0 324.5 324.5 1065 0.34 0.23 0.46
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7231N 636400E 0.0 220.0 220.0 722 0.37 0.26 0.51
--------------------------------------------------------------------------
7231N Incl. 636400E 0.0 148.8 148.8 488 0.41 0.30 0.56
--------------------------------------------------------------------------
7232N 636700E 0.0 379.0 379.0 1243 0.28 0.12 0.34
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7232N Incl. 636700E 202.0 275.9 73.9 243 0.43 0.15 0.51
--------------------------------------------------------------------------
7233N 636700E 0.0 237.0 237.0 778 0.28 0.13 0.35
--------------------------------------------------------------------------
7233N 636700E 237.0 265.0 28.0 92 0.14 0.07 0.18
--------------------------------------------------------------------------
7233N 636700E 265.0 286.4 21.4 70 0.22 0.12 0.28
--------------------------------------------------------------------------
7233N 636700E 286.4 296.0 9.6 32 0.10 0.05 0.13
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7233N 636700E 296.0 374.4 78.4 257 0.26 0.13 0.33
--------------------------------------------------------------------------
7233N 636700E 374.4 425.0 50.6 166 0.14 0.07 0.18
--------------------------------------------------------------------------
7233N 636700E 425.0 458.2 33.2 109 0.27 0.16 0.35
--------------------------------------------------------------------------
7234N 636300E 17.1 616.8 599.7 1968 0.28 0.18 0.37
--------------------------------------------------------------------------
7234N Incl. 636300E 83.2 194.1 110.9 364 0.38 0.30 0.54
--------------------------------------------------------------------------
7235N 636800E 0.0 125.5 125.5 412 0.21 0.13 0.28
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7235N 636800E 125.5 161.0 35.5 117 0.11 0.07 0.15
--------------------------------------------------------------------------
7235N 636800E 161.0 180.5 19.5 64 0.22 0.11 0.27
--------------------------------------------------------------------------
7235N 636800E 180.5 245.2 64.7 212 0.09 0.03 0.11
--------------------------------------------------------------------------
7235N 636800E 245.2 370.4 125.2 411 0.23 0.08 0.27
--------------------------------------------------------------------------
7236N 636800E 0.0 349.0 349.0 1145 0.35 0.15 0.43
--------------------------------------------------------------------------
7236N Incl. 636800E 0.0 149.8 149.8 492 0.28 0.13 0.35
--------------------------------------------------------------------------
7236N Incl. 636800E 149.8 227.7 77.9 256 0.59 0.25 0.72
--------------------------------------------------------------------------
7236N and 636800E 149.8 162.8 13.0 43 1.63 0.84 2.06
--------------------------------------------------------------------------
7236N 636800E 349.0 498.4 149.4 490 0.11 0.06 0.14
--------------------------------------------------------------------------
(1) Copper and gold equivalent calculations use metal prices of US$1.50/lb
for copper and US$500/oz for gold.
Metallurgical recoveries and net smelter returns are assumed to be
100%.
CuEQ equals Cu % + (Au g/t x 14.58/30.00)


Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Continental Minerals Corporation
    Shawn Wallace
    Investor Services
    (604) 684-6365 or North America Toll Free: 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.continentalminerals.com