VANCOUVER, June 23 /CNW Telbec/ - Continuum Resources Ltd (TSXV:CNU)
announces that it will not proceed to exercise its option to acquire a 70%
interest in the mining claims constituting the Natividad Mine (the "Natividad
Property"), and has terminated all contractual obligations with Cia Minera
Natividad, S.A. de C.V. in connection with the Natividad Property.
Since the termination of the letter of intent to purchase the
above-mentioned interest (see news release dated March 18, 2008), the Board of
Directors of Continuum has reviewed its options with respect to maximizing
shareholder value, including a review of all of the geological, economic and
socio-political factors surrounding the Natividad Property and the status of
all of the properties in the Company's mineral property portfolio. The Board
determined that Continuum's shareholders would be best served by the Company
maintaining its 24% interest in the San Jose - Taviche property, held jointly
with Fortuna Silver Mines Ltd., and by focusing its exploration efforts on the
La Predilecta prospect, located proximate to the San Jose - Taviche property.
In connection with this decision, the Company has announced that it has agreed
to sell all of its other mineral properties located in Oaxaca, Mexico to Green
Park Capital Corp. as described in Continuum's news release dated June 20,
On behalf of the Board of Continuum Resources Ltd.
"Warren M. McIntyre"
Warren M. McIntyre, Corporate Secretary and Director
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Continuum Resources Ltd.: Investor Relations:
(604) 629-0000, www.Continuumresources.com