Continental tables Tibetan resource (February 08, 2006)

Vancouver – Initial resource estimates for Continental Minerals’ (KMK-V, KMKCF-O) and Great China Mining’s (GCHA-O) Xietongmen copper-gold project, located about 250 km southwest of Lhasa in south-central Tibet, China, reviews a significant porphyry deposit.

Based on 62 vertical drill holes, a measured resource of 106.3 million tonnes grading 0.49% copper and 0.73 gram gold per tonne (0.91% copper equivalent) was calculated using a 0.5% copper equivalent cutoff grade. Contained metal in the estimate is 1.15 billion pounds (about 520,000 tonnes) of copper and 2.5 million oz. of gold.

Additional inferred resources of 28.8 million tonnes were also reviewed with an average grade of 0.43% copper and 0.59 gram gold (0.78% copper equivalent) using the same cutoff grade.

The mineralized zone in the porphyry averages about 200 metres in thickness, showing good continuity laterally and vertically. The 21,000 metres of drilling have tested an area extending 900 metres northwest-southeast and 400 metres northeast-southwest. Mineralization remains open to the north, south and east.

Project operator Continental has completed its initial option earn-in requirements to acquire a 50% interest in Xietongmen, from Great China Mining, with payments of US$2 million and expenditures of US$5 million. The company can earn an additional 10% by funding a further US$3 million in exploration by late-2006.

Continental plans its delineation drill program to resume shortly. Additionally, programs of environmental baseline and socioeconomic studies, and metallurgical testing are planned as the project is advanced toward feasibility.