VANCOUVER, Sept. 14 /CNW Telbec/ - Continuum Resources Ltd (TSXV: CNU)
wishes to provide an update on the progress of the preparation of its
technical report (the "Technical Report") under National Instrument 43-101 for
the Natividad property located in Oaxaca, Mexico (the "Natividad Project").
The Company's progress on the Natividad Project has been subject to
several adverse factors in recent months which have resulted in continued
delays to both the completion of certain planned exploration activities and
the preparation of the Technical Report itself. In particular, underground
exploration drilling efforts at the Natividad Project have encountered
repeated delays due to difficulties in accessing the older workings in the
existing mine structure, which have required considerable ground and
infrastructure rehabilitation. This work was further hampered by mine site
engineering problems in the historic and lower parts of the mine which
prevented drill crews from reaching their targets according to original
In addition, problems were also encountered with surface drilling efforts
due to poor infrastructure and the lack of dependable power and roads, and
with drill platform locations due to the difficult topography. Finally,
mechanical breakdowns to the drills and the unavailability of replacement
drills slowed progress at various times during the summer.
The Company has been advised that the Technical Report has been
materially completed and is currently undergoing final review and revision. As
a result of the aforementioned delays, the Company has been further advised
that the Technical Report will not contain any National Instrument
43-101-compliant resource estimate, as sufficient drilling was not completed
to establish such a resource. Complete details of the results of the Company's
activities at the Natividad Project will be disclosed in the Technical Report,
which will be posted on www.sedar.com. Readers are cautioned to review both
the Company's existing disclosure and the Technical Report when it is
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