LOI on Natividad Project Terminated
March 19, 2008: Vancouver, British Columbia: Continuum Resources Ltd (TSXV:CNU) announces that Mr. Raul Diaz has advised the Company that he is unable to proceed with the letter of intent (the "LOI") for the proposed purchase of Continuum's 70% interest in the claims constituting the Natividad mine (the "Natividad Property") along with a 100% interest in the claims surrounding the Natividad Property (for a complete description of the terms of the LOI, see news release dated February 1, 2008). The Company continues to seek joint venture or sale opportunities for the Natividad Property and the claims surrounding it.
Background
Continuum is currently exploring 7 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 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
RENMARK FINANCIAL COMMUNICATIONS INC.
BARRY MIRE : BMIRE@RENMARKFINANCIAL.COM
DAN SYMONS : DSYMONS@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM
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Continuum Resources Ltd.
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PRODUCER |
CODE : CNU.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Continuum is a silver and gold producing company based in Canada. Continuum holds various exploration projects in Mexico. Its main asset in production is SAN JOSE PROJECT in Mexico and its main exploration properties are LA PREDILECTA, NINO PERDIDO, TALEA, LACHATAO, TERI, LACHIGUIRI, NATIVIDAD and TAVICHE in Mexico and RICHARDSON LAKE in Canada. Continuum is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.6 millions as of today (US$ 4.4 millions, € 3.5 millions). Its stock quote reached its highest recent level on December 31, 2003 at CA$ 1.20, and its lowest recent point on October 24, 2008 at CA$ 0.01. Continuum has 124 038 000 shares outstanding. |