Ross Smith Capital Group L.P. acquires non-voting redeemable preferred shares of Continental Minerals Corporation

CALGARY, Jan. 27 /CNW/ - Ross Smith Capital Group L.P. ("Ross Smith Capital") announced that it has acquired an additional 309,200 non-voting redeemable preferred shares (the "Preferred Shares") of Continental Minerals Corporation ("Continental") for total consideration of $765,338. As a result of the acquisition of such shares, Ross Smith Capital owns 1,650,300 Preferred Shares, representing approximately 13.22% of the issued and outstanding Preferred Shares of Continental.

The Preferred Shares were acquired through the facilities of the TSX Venture Exchange during the period from November 3, 2010 to January 26, 2011 at an average price of CDN $2.48 per Preferred Share. Ross Smith Capital acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, shares or other securities of Continental through market transactions, private agreements or otherwise.

SOURCE Ross Smith Capital Group L.P.

For further information:

Weston Pring, Chief Investment Officer of Ross Smith Capital, at (403) 294-6893

Ross Smith Capital Group L.P.
400, 407 8th Avenue SW
Calgary, Alberta
T2P 1E5

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Ross Smith Capital Group L.P.

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