VANCOUVER, Aug. 24 /CNW Telbec/ - Due to the ongoing concerns in
worldwide financial markets regarding asset-backed securities, Continuum
Resources Ltd (TSXV: CNU) wishes to clarify that the Company currently has
over $5,300,000 in cash and cash equivalents. These funds include $4,000,000
in Guaranteed Investment Certificates ("GICs"), with the Vancouver branch of
the Bank of Montreal, with the balance sitting in the Company's current
account. The GICs are short-term and convertible at any time without penalty.
The Company wishes to ensure shareholders that it has not been impacted by the
"sub-prime loan" difficulties of the past month, and that the Company holds
sufficient cash available to maintain its currently budgeted work commitments
and property payments.
Continuum is a major explorer in the state of Oaxaca, with over
200,000 hectares of land, comprising 11 projects, in a number of
past-producing silver and gold districts. At the San Jose silver-gold deposit,
Continuum and joint venture partner Fortuna Silver Mines Inc. have recently
initiated an aggressive exploration drilling and pre-feasibility program to
take the San Jose deposit towards production (refer to previous news
On behalf of the Board of Continuum Resources Ltd.
"Warren M. McIntyre"
Warren M. McIntyre, Corporate Secretary and Director
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