Sajjad Ebrahim

April 21, 2009 08:30 ET

Sajjad Ebrahim Holds 14.31% of Continental Precious Minerals Inc.

TORONTO, ONTARIO--(Marketwire - April 21, 2009) - Sajjad Ebrahim, in his personal capacity and through his indirect holdings ("Ebrahim") holds 6,824,800 common shares ("Common Shares") of Continental Precious Minerals Inc. ("CZQ") (TSX:CZQ) representing 14.31% of the approximately 47,681,000 Common Shares issued. Ebrahim purchased an additional 5,000,000 common shares through the facilities of the Toronto Stock Exchange at a price of $0.50 per Common Share. Prior to this purchase Ebrahim held 1,824,800 Common Shares. Ebrahim acquired the Common Shares in CZQ for investment purposes.

Ebrahim will evaluate its ownership position in the Common Shares from time to time, and depending upon CZQ's business and prospects, the financial circumstances and needs of Ebrahim and future developments (including, but not limited to, availability of funds, alternative use of funds and general economic and market conditions), Ebrahim may from time to time purchase Common Shares of CZQ, dispose of all or a portion of the Common Shares of CZQ it holds, or cease buying or selling Common Shares of CZQ.

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