Continental Adopts Shareholder Rights Plan

    VANCOUVER, May 1 /CNW/ - Continental Minerals Corporation ("Continental"
or the "Company") (TSXV: KMK; OTCBB: KMKCF) announces that its Board of
Directors has approved in principle the adoption of a Shareholder Rights Plan
Agreement (the "Rights Plan"). The Rights Plan is being adopted to ensure the
fair treatment of all Continental shareholders in connection with any possible
future take-over bids for the outstanding common shares of Continental. The
Rights Plan will provide shareholders with adequate time to properly evaluate
and assess a take-over bid without facing undue pressure or coercion. The
Rights Plan is similar to the rights plans adopted by other Canadian
    The Rights Plan also provides the Board with additional time to consider
any take-over bid and, if applicable, to explore alternative transactions in
order to maximize shareholder value. The Rights Plan is not designed to
prevent take-over bids that treat Continental shareholders fairly. Pursuant to
the terms of the Rights Plan, any bid that meets certain criteria intended to
protect the interests of all shareholders are deemed to be "Permitted Bids". A
Permitted Bid must be made by way of a take-over bid circular prepared in
compliance with applicable securities laws and, in addition to certain other
conditions, must remain open for 60 days. In the event a take-over bid does
not meet the Permitted Bid requirements of the Rights Plan, the rights issued
under the plan will entitle shareholders, other than any shareholder or
shareholders involved in the take-over bid to purchase additional common
shares of Continental at a significant discount to the market price of the
common shares at that time.
    The Rights Plan is subject to approval by the TSX Venture Exchange and
will be presented for ratification by the shareholders at the Continental
annual meeting to be held no later than June 24, 2009. If ratified by the
shareholders, the Rights Plan will have a term of three years. The Rights Plan
is also subject to execution of definitive agreements with the Company's
transfer agent.

    David Copeland
    President & CEO

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release. No
    regulatory authority has approved or disapproved the information
    contained in 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 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, 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 actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on Continental Minerals
Corporation, Investors should review Continental's annual Form 20-F and the
Form F-4 filings with the United States Securities and Exchange Commission at and its home jurisdiction filings that are available at

For further information:

For further information: please visit the Company's website at or contact Investor Services at (604) 684-6365, or
within North America at (800) 667-2114

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