VANCOUVER, Jan. 11 /CNW Telbec/ - Continuum Resources Ltd (TSXV:CNU)
announces that it has approved the repricing of incentive stock options issued
on June 20, 2007 (see our news release of that date) to certain directors and
consultants of the Company to purchase up to 400,000 common shares in the
capital stock of the Company. The options, which were originally exercisable
at a price of $0.55 per share, will now have an exercise price of $0.30. The
expiry date of these options will remain June 20, 2012.
Per the policies of the TSX Venture Exchange, the repricing of the
options that were granted to the director of the Company require the approval
of a majority of the disinterested shareholders of the Company at its next
annual general meeting to be held later this year. Accordingly, the director
holding these options will not be permitted to exercise any of them before
this approval is received.
Continuum is actively exploring 12 separate gold-silver projects in the
state of Oaxaca, where Continuum has acquired approximately 220,000 hectares.
Continuum is also 24% joint venture partner with Fortuna Silver Mines Inc.
(TSXV: FVI) on the San Jose silver project, on which drilling continues to
expand on the resource estimate previously announced by the Company on
March 12, 2007.
On behalf of the Board of Continuum Resources Ltd.
"Warren M. McIntyre"
Warren M. McIntyre, Corporate Secretary and Director
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Investor Relations: (604) 629-0000,
www.continuumresources.com; Renmark Financial Communications Inc.: Barry Mire,
email@example.com; Dan Symons, firstname.lastname@example.org, (514)
939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com