VANCOUVER, Aug. 25 /CNW/ - Continental Minerals Corporation
("Continental" or the "Company") (TSXV: KMK; OTCBB: KMKCF) announces the
engagement of Standard Bank Plc, the principal international investment
banking subsidiary of the Standard Bank Group Limited ("Standard Bank"),
jointly with the Industrial and Commercial Bank of China ("ICBC") as
Underwriters and Mandated Lead Arrangers for the project finance debt facility
for the development of the Xietongmen Project.(1)
Standard Bank is a leading global emerging markets corporate and
investment bank and is Africa's leading banking and financial services group.
It has core international franchise expertise in providing project finance to
the mining sector alongside hedging, commodity trading, M&A advisory and
sourcing and structuring capital markets, trade and project-related
ICBC is the biggest commercial bank in China. With its leading market
position, high-quality customer base, diversified business structure, strong
ability of innovation, market competitiveness and excellent brand value in
China, ICBC is now helping corporate and personal customers from all over the
world to manage assets and create wealth.
President and CEO David Copeland said: "The engagement of Standard Bank
and ICBC, leading financing institutions, as underwriters and lead arrangers
is a key element in advancing the Xietongmen Project to production. Standard
Bank and ICBC bring specialist mining combined with international and China
specific expertise to the project financing."
Xietongmen is a post-feasibility stage copper-gold project, located in
the Tibet Autonomous Region of China. Currently focused on basic engineering
and a mining license application for the project, Continental's objective is
to design and build an operation that meets international standards, and
contributes positively to the economic development of the region.
David J. Copeland
President and Chief Executive Officer
(1) Subject to due diligence and conditions precedent commonplace with
project finance facilities of this nature.
The TSX Venture Exchange does not accept 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.
For further information:
For further information: 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