Jinchuan Acquires All of the Common Shares of Continental Minerals Corporation Pursuant to a Plan of Arrangement

JINCHANG, Gansu, CHINA, April 29 /CNW/ - Jinchuan Group Ltd. and JinQing Mining Investment Limited (collectively "Jinchuan") reports that it has acquired ownership of 147,661,327 common shares (the "Shares") in the capital of Continental Minerals Corporation ("Continental") pursuant to a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) and approved by the shareholders of Continental on April 22, 2011. The 147,661,327 Shares acquired by Jinchuan pursuant to the Arrangement comprise all of the issued and outstanding common shares of Continental not already held by Jinchuan. Jinchuan acquired the Shares for consideration of $2.60 per Share.

Jinchuan desired to acquire all of the Shares of Continental. Immediately prior to the Arrangement, Jinchuan directly or indirectly, owned 10.9 percent of the Shares. The Shares will be delisted from the TSX Venture Exchange and Continental will apply to cease to be a reporting issuer.

Jinchuan Group Ltd.
Jinchang, Gansu
737103, People's Republic of China
Attention: Sanlin Zhang, Vice President
Facsimile No.: +86 935 8811612

SOURCE Jinchuan Group Ltd.

For further information:

or to obtain a copy of the early warning report, please contact Jinchuan Group Ltd. at +86 935 8811111. 

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Jinchuan Group Ltd.

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