VANCOUVER, Oct. 1 /CNW Telbec/ - Continuum Resources Ltd (TSXV:CNU)
announces that due to delays in negotiating terms of a joint venture with
Cia Minera de Natividad Y Anexas S.A. de C.V. ("Minera"), Continuum has halted
drilling and exploration work at the Natividad property located in Oaxaca,
Mexico (the "Natividad Project"). Continuum earned a 70% interest in the
Natividad Project (announced by news release dated May 28, 2007) by way of an
option agreement (the "Option"), with Minera maintaining a 30% ownership
stake. The Option required the parties to negotiate the terms of a joint
venture to continue with the exploration of the Natividad Project once the
Option was exercised.
Management of Continuum will continue these negotiations in the coming
days, and are hopeful that exploration and drilling at the Natividad Project
will recommence shortly after.
Continuum is actively exploring 11 separate gold-silver projects in the
state of Oaxaca, where Continuum has acquired approximately 200,000 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: Renmark Financial Communications Inc.: Barry
Mire, firstname.lastname@example.org; Dan Symons, email@example.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com