Continuum signs letter of intent to sell 100,000 hectares in 8 claim blocks in Mexico to Green Park Capital


    VANCOUVER, June 20 /CNW Telbec/ - Continuum Resources Ltd (TSXV:CNU) is
pleased to announce that it has entered into an agreement in principle with
Green Park Capital Corp. ("Green Park"), a British Columbia capital pool
company listed on the TSX Venture Exchange (the "Exchange"), dated June 11,
2008 (the "Agreement") to sell Green Park all of the issued and outstanding
securities of Continuum Resources S.A. de C.V. (the "Target"), Continuum's
wholly-owned Mexican subsidiary (the "Proposed Acquisition"). The Target has
no dilutive securities outstanding. Haywood Securities Inc. (the "Agent") has
agreed to act as sponsor the Proposed Acquisition, should same be required by
the Exchange policies.
    Pursuant to the terms of the Agreement, Green Park intends to acquire
from Continuum all of the outstanding shares of the Target (the "Shares") as
well as certain assets (the "Assets") consisting of a Hydrocore model 1800
(reproduced) man-portable drill and spare drill parts (including three
4-cylinder diesel engines), the total net book value of which is estimated to
be US$500,000. This, and all other financial information pertaining to
Continuum and the Target, is derived from the audited financial statements of
Continuum and the Target for the year ended December 31, 2007 which financial
statements are prepared in accordance with Canadian GAAP. All of the Assets
are currently located near Continuum's properties in Oaxaca, Mexico. As
consideration for the Shares and the Assets, Green Park will pay Continuum
$150,000 CAD and issue 2,500,000 of its common shares having a deemed value of
$0.20 per share. Green Park has also agreed to take an assignment of the
convertible debentures (the "Debentures") announced by Continuum on May 29,
2008, which will have a face value of up to $350,000. Following closing of the
Proposed Acquisition, the Debentures will be convertible into common shares of
Green Park at a price of $0.20 per share. As an inducement to convert the
Debentures in a timely fashion, holders of Debentures who convert their
Debentures into common shares of Green Park within 45 days of the closing of
the Proposed Acquisition will receive one-half of one share purchase warrant
of Green Park on conversion. Each whole warrant will entitle the holder
thereof to purchase a further share of Green Park at a price of $0.25 per
share for a period of two years from the date of issue. The shares of Green
Park issued pursuant to the Proposed Acquisition will be subject to a
four-month hold period and may be subject to escrow provisions imposed by the
Exchange. A finder's fee will be paid to the Agent in connection with this
    Concurrent with the Proposed Acquisition, Green Park will undertake a
brokered private placement (the "Financing") through the Agent for gross
proceeds of up to CAD$2.0 million to fund exploration programs on the Target's
mineral properties (see "Proposed Financing" below).
    Both the Proposed Acquisition and the Financing will be subject to a due
diligence review of the Target and the Claims (defined below) by Green Park,
and the approval of the Exchange. Green Park is a capital pool company and
intends for the Proposed Transaction to constitute its Qualifying Transaction
as such term is defined in the policies of the Exchange. The Proposed
Acquisition is an arm's length transaction and upon completion of the Proposed
Acquisition, Green Park expects to be a Tier 2 Mineral Exploration Issuer.

    Summary of the Target's Significant Assets

    The Target holds mining claims over eight distinct claim blocks in the
State of Oaxaca, Mexico, and are known as Tres Hermanas, Silacayoapan, Parian
- Paras, Cuatro Venados, Nino Perdido, Lachiguiri, Teri and Talea (the
"Claims"). The Claims host a variety of precious and polymetallic metals,
including gold, silver, lead, zinc and others. The Tres Hermanas claim block
will be Green Park's "Principal Property" under Exchange policies following
the Proposed Acquisition, and is described below. The Claims are listed and
described on Continuum's website at, and in
Continuum's news release dated February 12, 2008 filed on

    Tres Hermanas

    The Tres Hermanas claim block comprises 3671 hectares, covering a
mountainous area in the vicinity of the village of San Sebastian Rio Dulce,
some 50 kilometers southwest of the City of Oaxaca. The property consists of
three contiguous claims, each owned 100% by the Target since as early as June
2004. The center of interest is the old Tres Hermanas Mine, which was
exploited on five levels for silver prior to the Mexican War of Independence
in 1810. These adits were mapped and sampled in 1926, but are no longer
accessible. Studies in 1926 demonstrated that the deposit yielded average
grades of 8.24 oz/t Ag, 4.67 % Pb and 10.77 % Zn, and these studies also
concluded that that the average ore contained 5.4% Galena, 16.2% sphalerite
and 13.7% pyrite, with minor copper sulfides. This data is NOT compliant with
the standards set out by the CIM or with National Instrument 43-101 ("NI
43-101"), and should be viewed as historical in nature. A technical report
under NI 43-101 is currently being prepared. To date, approximately US$725,000
has been spent in exploration on the Tres Hermanas claims. Further information
regarding Continuum's work at Tres Hermanas may be found in Continuum's news
releases dated February 4, February 12, and April 15, 2008, on

    Board of Directors and Management of Green Park on Closing

    Concurrently with of the completion of the Proposed Acquisition, a number
of changes in the composition of the current directors and officers of Green
Park will take place. Anthony Dutton will remain on the Board and assume the
role of Vice-President, Corporate Development going forward. The other four
members of the current Board of Green Park will resign, and will be replaced
by Mr. Allan Bassham, who will also assume the role of President of Green
Park, Robert McMorran and Warren McIntyre, all currently directors of
Continuum. A fifth director will be proposed in coming weeks, who will sit as
an independent director of the resulting issuer along with Mr. McIntyre and
Mr. McMorran. The proposed board is subject to Exchange approval. Further
information for each of the above-mentioned directors and officers is set out
below and has been provided by each such director and officer.

    Allan Bassham - President and Director

    Mr. Bassham has been with Continuum since April of 2007, and has over
32 years of experience in mining, milling and exploration, with an active
focus on mine planning and design. His work history includes Vice President of
Mining for Gammon Lake Resources Inc. (now Gammon Gold, a TSX listed Company)
in Chihuahua Mexico, Project Manager for Shore Gold Inc's (a TSX listed
Company) Star Diamond Project, and many other junior resource companies.

    Anthony Dutton - Vice-President, Business Development and Director

    Mr. Dutton has been a principal of Primary Capital Group since 2006,
where he advises small and medium-sized businesses on corporate finance
issues. He has also been a director or officer of several publicly-listed
issuers including International Beryllium Corporation (listed on the Exchange)
and XML Global Technologies Inc. (listed on the OTC Bulletin Board). Anthony
holds a BA in Economics from the University of British Columbia, a Masters of
Architecture from Dalhousie University, and a joint MBA from the Cranfield
School of Management in the United Kingdom and Groupe ESC in Lyon, France.

    Warren McIntyre - Director

    Mr. McIntyre provides business development consulting services to both
publicly traded and private companies. He has been a director and the
corporate secretary of Continuum since March of 2003. He is also the President
and CEO of Atomic Minerals Ltd., a junior exploration Company listed on the
Exchange. Mr. McIntyre was a director and the Chief Financial Officer of
Evolving Gold Corp., a junior exploration company listed on the Exchange and
CNQ, from June 2004 to February 2007. He was also a former director of Pallaum
Minerals and Cloudbreak Resources, both listed on the Exchange.

    Robert McMorran - Director

    Mr. McMorran has been a director and officer of Continuum since July
2000, and is president of Malaspina Consultants Inc., a private company that
provides accounting and administrative services to junior public companies. He
has over 20 years experience dealing with financial reporting and the
administration of public companies, the last 11 years through Malaspina. He
has also served as an officer and/or director of several public companies
including Terra Ventures Ltd., Wave Exploration Corp., Roxgold Inc., Merit
Mining Corp. and the Canada Dominion Resources Group family of flow-through
limited partnerships. Mr. McMorran has been a member of the Institute of
Chartered Accountants of B.C. since 1981. He received his Bachelor of Science
in Mathematics from Simon Fraser University in 1976.

    Proposed Financing

    In connection with the Proposed Acquisition and subject to Exchange
approval, Green Park has retained the Agent to raise up to CAD$2.0 million by
way of a private placement of units (the "Units") on a best efforts basis to
fund Green Park's proposed exploration agenda for the Claims. The Units will
be priced at $0.25 and will each consist of a common share and one-half of one
share purchase warrant, with each whole warrant exercisable for an additional
common share at a price of $0.30 for two years from the date of issue. The
private placement will be to accredited investors in Canada, the United States
and overseas, and the securities making up the Units will be subject to a
four-month hold period.
    As consideration for their efforts, the Agent will receive a cash
commission of 7.5% of the total gross proceeds raised, as well as warrants
(the "Agent's Warrants") equal to 7.5% of the total number of Units sold under
the Proposed Financing. Each Agent's Warrant will be exercisable for one
common share of Green Park at a price of $0.25 for two years from the date of
issue. The Agent will also receive a corporate finance fee of $50,000 plus
G.S.T. and a further 100,000 Agent's Warrants. The Agent will have a right of
first refusal on all future brokered financings proposed by Green Park for a
period of one year.
    The proceeds from the financing are projected to be used as follows:
$850,000 for exploration of the Tres Hermanas claims, $650,000 for general
exploration of the remaining claim blocks, $100,000 for expenses and fees
relating to the Proposed Acquisition and the Financing, and $400,000 for
general corporate working capital purposes although Green Park may reallocate
such proceeds if it determines it to be in the best interests of Green Park to
do so.

    Finder's Fee

    As consideration for their efforts in introducing Green Park and
Continuum, Green Park will pay to the Agent a finder's fee of 300,000 Units,
subject to Exchange Approval.


    Continuum is currently exploring 10 separate gold-silver projects in the
state of Oaxaca, comprising approximately 125,000 hectares. Continuum is also
a 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 Continuum on March 12, 2007.

    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: Continuum Resources Ltd.: Investor Relations:
(604) 629-0000,

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