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| | Tue Aug 8, 2006
Drilling Continues To Expand Xietongmen Deposit
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| | 225 Meters Grading 1.02% CuEQ Intersected in Hole 6146
August 8, 2006, Vancouver, BC -- Continental Minerals Corporation (TSX.V-KMK; OTC.BB-KMKCF) ("Continental" or the "Company") and Great China Mining Inc. (OTC.BB-GCHA) announce the results from additional core holes (6129 and 6136 to 6157) drilled in 2006 at the Xietongmen copper-gold deposit, located 240 kilometers west of Lhasa in Tibet, People's Republic of China.
Drilling in 2005 outlined a significant porphyry copper-gold deposit at Xietongmen with excellent potential for expansion. The comprehensive 2006 program is designed to fully assess the resource potential of the project and initiate programs for a feasibility study and environmental and social impact assessments. The studies are targeted for completion in 2007.
The current results are mainly testing for expansion along the eastern side of the deposit. Long intervals with excellent grades of copper and gold continue to be intersected in the eastern part of the deposit.
Drilling on section 3249150N has extended the deposit a further 250 meters to the east on that section. Hole 6129, a 150 meter step out from hole 5028, intersected 196.8 meters grading 0.99% CuEQ. Hole 6155, samples pending, is located between holes 6129 and 5028. Hole 6146, a 100 meter step out from hole 6129, intersected 225.4 meters grading 1.02% CuEQ, including a 68.0 meter intercept of 1.62% CuEQ.
Drilling on section 3249050N has extended the deposit 50 meters to the east. Hole 6136, 50 meters east of hole 6131 (results announced on July 10, 2006), intersected 132.8 meters grading 0.53% CuEQ, including an 56.6 meter intercept of 0.70% CuEQ. Infill drilling on the same section provided excellent results. Hole 6143, drilled 50 meters west of hole 6131, intersected 203.0 meters grading 0.95% CuEQ, including an 87.0 meter interval grading 1.43% CuEQ.
In addition, infill drilling in the south of the deposit continues to confirm the continuity of the grade over substantial intervals. Infill hole 6157 on section 3248950N intersected 151.1 meters grading 0.76% CuEQ, including a 73.3 meter interval grading 1.22% CuEQ. Further south, infill hole 6153 on section 3248800N intersected 47.8 meters grading 0.92% CuEQ, including a 16.5 meter interval of enriched copper (supergene zone) grading 1.50% CuEQ.
Two of the holes in this series are larger diameter (PQ sized) holes drilled to obtain samples for metallurgical comminution testwork. Seven holes were drilled for geotechnical purposes at Xietongmen and at potential tailings sites, and therefore have no assay data.
A Table of Assay Results is attached. A Property Location Map, a Drill Hole Plan and Cross Sections are posted on the websites: www.continentalminerals.com & www.greatchinamining.com.
Metallurgical testing and environmental and socio-economic baseline studies are ongoing. In conjunction with these targeted technical programs, an expanded community engagement program is underway. There are currently 11 drill rigs active on site, with six rigs completing the definition program (95% completed), two rigs on the Langtongmen copper-gold exploration target, and three rigs to complete the geotechnical program to plan for open pit, tailing and waste rock storage designs.
Mark Rebagliati, P.Eng., a Qualified Person as defined under National Instrument 43-101, is supervising the drilling program and quality assurance and quality control ("QAQC") programs on behalf of Continental Minerals Corporation. The program includes rigorous QAQC procedures. Acme Analytical Laboratories of Vancouver, BC, an ISO 9001:2000 accredited laboratory, performs the sample preparation and assaying for the project. Gold analysis is by 30 g Fire Assay fusion with an Inductively Coupled Plasma-Emission Spectroscopy (ICP-ES) finish. Copper assays are done by four acid digestion with an ICP-ES/ICP-Mass Spectroscopy finish. Continental includes standards, blanks and duplicates in addition to the laboratory's internal quality control work.
Gerald Panneton
President and CEO
Continental Minerals Corporation
For further information:
Continental Minerals Corporation
Tel 604 684·6365
Toll Free 1 800 667·2114
www.continentalminerals.com
Great China Mining Inc.
Tel 604 641·1366
www.greatchinamining.com
No regulatory authority has approved or disapproved the information contained in this news release.
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 the proposed merger, acquisition of additional property, exploration drilling, exploitation activities and events or developments that the companies expect are forward-looking statements. Although the companies believe 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, 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 actual results or developments may differ materially from those projected in the forward-looking statements.
For more information on Continental, investors should review its 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.
For more information on Great China Mining Inc., Investors should review the Company's annual Form with the United States Securities and Exchange Commission at www.sec.gov.
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| | You can view the Next News Releases item: Fri Aug 25, 2006, Continental Secures $11.5 Million Convertible Note Financing
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