Continental Minerals Corporation - News Releases - Mining Area Scoping Approved For Continental's Xietongmen Project - Fri Oct 22, 2010

Subscribe:

Search:

October 22, 2010

Site Map

Continental Minerals Corporation

Investor Centre News Releases Stock Quotes Media Coverage Company Overview SEDAR Filings Corporate Events

News Releases

2009 | 2008 | 2007 | 2006 | 2005 | 2004

	Tue May 15, 2007 Mining Area Scoping Approved For Continental's Xietongmen Project
	May 15, 2007, Vancouver, BC - Continental Minerals Corporation ("Continental" or the "Company") (TSX Venture: KMK; OTCBB: KMKCF) announces that approval has been received from the central government's Ministry of Land and Resources for the Mining Area Scoping ("MAS") for the Xietongmen Project in the Tibet Autonomous Region of China. The MAS approval is a very important step in the process to obtain a mining license. The Xietongmen porphyry copper-gold deposit was discovered by drilling in 2005. A comprehensive program centered on the deposit commenced in 2006, designed to collect the data necessary for an international feasibility study, environmental and socioeconomic assessments and Chinese mining license application. International consulting groups and Chinese design institutes are engaged in these studies, which are targeted for completion in 2007. The mining license application requirements include the Mineral Resources Report; the Mine Area Scoping; the Mineral Resources Development and Utilization Plan; and the Environmental Assessment with Social Component (ESIA). These reports integrate assessments of land use; the geological environment and mineral resources; the technical and financial aspects of mining and treating the mineralization; the health and safety aspects of the potential operation; water use and water and soil conservation; and the environmental and social aspects of the project. Several of the reports are utilized in more than one component of the application. The information in the items above will also comprise the bulk of the international feasibility study and ESIA. The Mineral Resources Report was submitted and approved by the Ministry of Land and Resources in late 2006, confirming of the size of the deposit. This information was utilized in the MAS to estimate the production rate and life of the operation in order to delimit the surface area and depth of development and determine the geographic coordinates of the future mine. President and CEO Gerald Panneton said: "Acquiring the MAS approval demonstrates the positive attitude of the government towards an investment in China's minerals and metals industry. Achieving such a milestone in this timeframe reflects the diligence with which our staff and consultants have been working to advance the geological, engineering, environmental and socioeconomic studies for the project. This work is proceeding in parallel with our community engagement and government liaison programs. We are committed to working with the local communities and government agencies to design an operation that will meet both Chinese and international standards, and contribute to the economic development of the region." 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 Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release. Forward Looking and other Cautionary Information 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 Continental 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, changes in and the effect of government policies with respect to mining and natural resource exploration and exploitation 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 those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, 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.

	You can view the Next News Releases item: Wed May 30, 2007, First Three Holes Expand Continental's Newtongmen Deposit You can view the Previous News Releases item: Mon Apr 2, 2007, Continental Closes The Jinchuan Private Placement For Proceeds Of $18 Million Financing You can return to the main News Releases page, or press the Back button on your browser.