Thu Mar 22, 2007 2007 Drill Program To Start At The Newtongmen Discovery On March 31St
March 22, 2007, Vancouver, BC -- Continental Minerals Corporation ("Continental" or the "Company") (TSX Venture: KMK; OTCBB: KMKCF) announces that the 2007 drill program is to commence on March 31st 2007 at the Company's recently discovered Newtongmen deposit located at the Xietongmen Property site, which is situated 240 kilometers from the city of Lhasa in Tibet, People's Republic of China. Continental owns 100% of the 120 kmē Xietongmen Project.
The Newtongmen deposit is located 3 km northwest of the Xietongmen deposit (219.8 Mt @ 0.43% Cu and 0.61 g/t Au). The Newtongmen deposit is hosted by the same alteration zone as the Xietongmen deposit and lies within a high copper-gold anomaly, 1.5 square kilometers in area, outlined during a rock chip sampling program completed earlier this year (please see the Company's January 24th 2007 press release).
Long intervals of strong copper and gold grades were intersected in both holes, which are spaced about 100 meters apart. Hole 6213N intersected 302.2 meters grading 0.82% CuEQ, including an 85.0-meter interval of 1.25% CuEQ and a 43.0-meter interval grading 1.39% CuEQ. Hole 6203N intersected 210.6 meters grading 0.82% CuEQ (please see the Company's November 28, 2006 press release).
Newtongmen has the potential to add substantially to the resource base on the Xietongmen Property. An aggressive multi rig drilling program is planned to commence on March 31st 2007 to delineate this new discovery with a first phase of 10,000 meters of drilling spaced at 100m x 100m.
In other news, the private placement announced in February was completed at $32 million rather than the $37 million previously announced. The Company remains well positioned financially and is rapidly advancing the exploration and development of its Xietongmen Property.
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
Gerald Panneton President and Chief Executive Officer
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1020 - 800 West Pender Street, Vancouver BC Canada V6C 2V6 Telephone: 604-684-6365 Facsimile: 604-684-8092 TollFree: 1-800-667-2114