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| | Fri Jul 14, 2006
Exercise Of Warrants Nets Continental $7.35 Million
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| | July 14, 2006, Vancouver, BC--- Gerald S. Panneton, President and CEO of Continental Minerals Corporation ("Continental" or the "Company") (TSXV: KMK; OTCBB: KMKCF) is pleased to announce that the Company has received, over the period ending July 12, 2006, $7.35 million from the exercise of 7,000,000 warrants at an exercise price of $1.05 per warrant. 100% of the warrants were exercised and there are no further warrants outstanding in Continental.
The proceeds are being used to advance the comprehensive 2006 program at the Xietongmen Copper-Gold Project, located 240 km west of Lhasa, in Tibet, People's Republic of China.
Continental also announced previously (see news release June 12, 2006) the execution of the definitive merger agreements between Continental and certain principal Great China Mining shareholders, whereby the companies will be merged to unify 100% ownership in the Xietongmen property in Continental. Completion of the merger is subject to a number of conditions including shareholder and regulatory approvals, and is scheduled to complete in the third quarter of 2006.
For additional details on Continental and the Hunter Dickinson group of companies, please visit www.continentalminerals.com or www.hdgold.com, respectively, or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
Gerald S. Panneton
President and CEO
No regulatory authority has approved or disapproved the information contained in this news release.
Forward Looking Statement
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, continuing 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 that 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. |
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