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| | Wed Sep 20, 2006
Drilling Continues To Expand & Confirm Continuity Of Xietongmen Deposit
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| | 209 Meters Grading 1.02% CuEQ in Hole 6155
September 20, 2006, Vancouver, BC -- Continental Minerals Corporation (TSX.V-KMK; OTC.BB-KMKCF) ("Continental") and Great China Mining Inc. (OTC.BB-GCHA) ("Great China Mining") announce the results from additional core holes (6155 to 6180) drilled in 2006 at the Xietongmen copper-gold deposit, located 240 kilometers west of Lhasa in Tibet, People's Republic of China.
These results are from drilling on all sides of the deposit. The western limits of the deposit have largely been defined, however, long intervals with excellent grades of copper and gold continue to be intersected along the east and northeastern side of the deposit, continuity continues to be shown by internal holes in the south central part of the deposit, and the deposit is still open to the north.
Of the 24 holes in this series, eight are holes drilled for engineering purposes, five of which were drilled outside the Xietongmen deposit, and one has assays pending.
In the northeast, drill hole 6155 on section 3249150N intersected 209.0 meters grading 1.02% copper equivalent (CuEQ), including two higher-grade sections - 120.6 meters averaging 1.35% CuEQ and 61.6 meters grading 1.61% CuEQ. Hole 6155 is an infill hole located 100 meters west of hole 6129 that intersected a wide interval with excellent grade: 196.8 meters averaging 0.99% CuEQ,, and 200 meters west of hole 6146, the easternmost hole on the section, that intersected 225.4 meters grading 1.02% CuEQ (both holes 6129 and 6146 were previously released). New hole 6160, located 100 meters to the north of hole 6155, intersected 99.0 meters of 0.95% CuEQ. Hole 6171, located 50 meters to the east of hole 6160, intersected 170.8 meters grading 0.67% CuEQ, including a 64.6-meter interval grading 0.88% CuEQ. These two holes extended the deposit 100 meters to the north and east.
In the south, infill hole 6175 intersected 150.0 meters grading 0.99% CuEQ and a second interval 33.1 meters in length that grades 1.60% CuEQ. Hole 6180, located 100 meters to the south, intersected 64.6 meters grading 1.00% CuEQ.
In the west, the five holes (6158, 6164, 6168, 6170, and 6177) drilled intersected weaker mineralization. The best results were from hole 6177, which intersected 121.0 meters averaging 0.59% CuEQ, including a 74.2-meter interval grading 0.71% CuEQ.
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.
The definition drilling program at the Xietongmen deposit is now complete, although some assays are still pending. A new estimate of the mineral resource is currently underway and will be finalized once all assays have been received. The new estimate, and other information derived from the feasibility work currently being done, will be utilized for a preliminary economic assessment of the project, expected in the fourth quarter of 2006. Drilling at site is now focused on exploration of the Langtongmen copper-gold zone, located about 1 km to the northwest of the Xietongmen deposit.
Activities to finalize the merger between Continental and Great China Mining, and unify 100% ownership in the Xietongmen property in Continental (see joint news release of June 12, 2006), are proceeding as planned. Completion of the merger is subject to a number of conditions including Great China Mining shareholder and regulatory approvals, and is likely to be completed in or about late October 2006.
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. 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
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of 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, 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. Accordingly, readers should not place undue reliance on forward looking statements or information.
For more information on Continental Minerals Corporation, including information on risk factors and uncertainties relating to forward looking information, 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.
For more information on Great China Mining Inc., Investors should review the Great China Mining's annual Form 10K filing with the United States Securities and Exchange Commission at www.sec.gov.
XIETONGMEN PROJECT NEW ASSAY RESULTS
SEPTEMBER 20, 2006
| Drill Hole |
|
Section |
From (metres) |
To (metres) |
Intercept (metres) |
Intercept (feet) |
Cu % |
Au g/t |
CuEQ1 % |
AuEQ1
g/t |
| 6155 |
|
3249150N |
163.0 |
372.0 |
209.0 |
686 |
0.57 |
0.86 |
1.02 |
1.95 |
| 6155 |
incl. |
3249150N |
238.0 |
358.6 |
120.6 |
396 |
0.76 |
1.13 |
1.35 |
2.57 |
| 6155 |
and |
3249150N |
297.0 |
358.6 |
61.6 |
202 |
0.87 |
1.41 |
1.61 |
3.06 |
| 6158 |
|
3249150N |
No significant intersections |
|
|
|
|
|
| 6159WT |
|
3249450N |
Geotechnical hole |
|
|
|
|
|
| 6160 |
|
3249250N |
154.4 |
327.4 |
173.0 |
568 |
0.47 |
0.52 |
0.74 |
1.41 |
| 6160 |
incl. |
3249250N |
215.0 |
314.0 |
99.0 |
325 |
0.60 |
0.65 |
0.95 |
1.80 |
| 6161GT |
|
|
Geotechnical hole |
|
|
|
|
|
| 6162WT |
|
|
Geotechnical hole |
|
|
|
|
|
| 6163GT |
|
3249000N |
151.8 |
171.6 |
19.8 |
65 |
0.21 |
0.21 |
0.32 |
0.61 |
| 6163GT |
|
3249000N |
189.9 |
254.8 |
64.9 |
213 |
0.24 |
0.43 |
0.47 |
0.89 |
| 6164 |
|
3249150N |
0.0 |
183.0 |
183.0 |
600 |
0.29 |
0.38 |
0.49 |
0.94 |
| 6165WT |
|
|
Geotechnical hole |
|
|
|
|
|
|
| 6166 |
|
3249350N |
200.6 |
371.4 |
170.8 |
560 |
0.40 |
0.45 |
0.64 |
1.21 |
| 6167 |
|
3248850N |
60.7 |
122.4 |
61.7 |
202 |
0.30 |
0.32 |
0.47 |
0.89 |
| 6167 |
|
3248850N |
132.4 |
146.8 |
14.4 |
47 |
0.22 |
0.23 |
0.33 |
0.64 |
| 6168 |
|
3249050N |
No significant intersections |
|
|
|
|
|
| 6169WT |
|
3249000N |
Geotechnical hole |
|
|
|
|
|
|
| 6170 |
|
3249000N |
104.6 |
124.6 |
20.0 |
66 |
0.16 |
0.27 |
0.30 |
0.57 |
| 6171 |
|
3249250N |
159.7 |
330.5 |
170.8 |
560 |
0.43 |
0.47 |
0.67 |
1.28 |
| 6171 |
incl. |
3249250N |
265.9 |
330.5 |
64.6 |
212 |
0.54 |
0.64 |
0.88 |
1.68 |
| 6172WT |
|
|
Geotechnical hole |
|
|
|
|
|
|
| 6173 |
|
3249300N |
164.3 |
199.8 |
35.5 |
116 |
0.20 |
0.23 |
0.32 |
0.60 |
| 6174GT |
|
|
Geotechnical hole |
|
|
|
|
|
|
| 6175 |
|
3248900N |
22.8 |
172.8 |
150.0 |
492 |
0.55 |
0.84 |
0.99 |
1.89 |
| 6175 |
and |
3248900N |
71.7 |
104.8 |
33.1 |
109 |
0.81 |
1.49 |
1.60 |
3.04 |
| 6176 |
|
3249450N |
299.8 |
337.7 |
37.9 |
124 |
0.20 |
0.25 |
0.33 |
0.63 |
| 6177 |
|
3249100N |
15.2 |
136.2 |
121.0 |
397 |
0.34 |
0.49 |
0.59 |
1.13 |
| 6177 |
incl. |
3249100N |
62.0 |
136.2 |
74.2 |
243 |
0.43 |
0.53 |
0.71 |
1.35 |
| 6178 |
|
3249050N |
202.7 |
271.9 |
69.2 |
227 |
0.31 |
0.44 |
0.54 |
1.04 |
| 6179 |
|
|
Results pending |
|
|
|
|
|
|
| 6180 |
|
3248800N |
33.2 |
97.8 |
64.6 |
212 |
0.71 |
0.57 |
1.00 |
1.91 |
1 Copper and gold equivalent calculations use metal prices of US$1.25/lb for copper and US$450/oz for gold. Adjustment factors to account for differences in relative metallurgical recoveries for gold and copper will depend upon the completion of definitive metallurgical testing.
CuEQ = Cu % + (Au g/t x 14.47/27.56)
AuEQ = (Cu % x 27.56/14.47) + Au g/t
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| | You can view the Next News Releases item: Wed Oct 11, 2006, Surface Exploration Discovers New Copper-Gold Mineralization at Xietongmen
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