Continental Gold Extends the High-Grade Gold and Silver in

Continental Gold Extends the High-Grade Gold and Silver in Yaragua
and Veta Sur Vein Systems at Buritica, Colombia 
TORONTO, ONTARIO -- (Marketwire) -- 01/15/13 -- Continental Gold
Limited (TSX:CNL)(OTCQX:CGOOF) ("Continental" or the "Company") is
pleased to announce results for 23 diamond drill-holes from the
Yaragua and Veta Sur vein systems, as part of the Company's ongoing
exploration program at the Buritica Project in Antioquia, Colombia.
Seven drills are currently on site as part of the Company's Phase IV,
minimum 95,000-metre diamond drill program for 2013.  
Highlights 
Yaragua Vein System (Figures 1 and 2) 


 
--  Drilling in the Yaragua vein system ("Yaragua") has resulted in
    extensions to several vein sets and recognition of new veins outside of
    the current mineral resource model, while demonstrating additional
    support for the mineral resource model prepared in accordance with
    National Instrument 43-101 ("NI 43-101"). 
    
--  In central and eastern Yaragua, ten drill-holes transected the central
    and northern vein packages, with intersections of high-grade veins as
    good as or better than the current mineral resource model. Drill-hole
    intercepts exhibiting substantially higher grades and/or greater
    thicknesses than t
he mineral resource model include: 
    
    --  BUUY083: 22.3 metres @ 23.9 g/t gold and 255 g/t silver (including
        4.6 metres @ 36.8 g/t gold, 1,071 g/t silver and 1.6 metres @ 183.0
        g/t gold and 96 g/t silver) (Veins PRE and VNB, elevation of 1,364
        metres) 
    --  BUUY086: 20.2 metres @ 11.4 g/t gold and 59 g/t silver (including
        1.6 metres @ 68.3 g/t gold, 142 g/t silver and 0.6 metres @ 66.0 g/t
        gold and 24 g/t silver) (Veins PRE and VNB, elevation of 1,359
        metres) 
    --  BUUY086: 10.79 metres @ 11.4 g/t gold and 57 g/t silver (including
        1.07 metres @ 77.4 g/t gold and 410 g/t silver) (Vein C, elevation
        of 1,337 metres) 
    --  BUUY087: 3.3 metres @ 37.5 g/t gold and 27 g/t silver (including 1.5
        metres @ 77.8 g/t gold and 35 g/t silver (Vein C, central Yaragua,
        elevation of 1,393 metres) 
    --  BUUY079: 4.7 metres @ 7.6 g/t gold and 5 g/t silver (including 1.4
        metres @ 21.2 g/t gold and 8 g/t silver) (Vein FWV, elevation of
        1,165 metres) 
        
--  Eight drill-holes intersected multiple veins north of the mineral
    resource model in central and eastern Yaragua, including: 
    
    --  BUUY078: 0.75 metres @ 6.5 g/t gold and 334 g/t silver (elevation of
        1,148 metres) 
    --  BUUY079: 1.0 metres @ 10.3 g/t gold, 36 g/t silver (elevation of
        1,097 metres) 
    --  BUUY080: 6.6 metres @ 5.6 g/t gold and 18 g/t silver (including 2.9
        metres @ 10.4 g/t gold and 33 g/t silver) (elevation of 1,135
        metres) 
    --  BUUY081: 0.4 metres @ 2.7 g/t gold and 1,360 g/t silver (elevation
        of 1,273 metres) 
    --  BUUY086: 0.67 metres @ 9.2 g/t gold, 277 g/t silver and 14.4% zinc
        (elevation of 1,128 metres) and 1.25 metres @ 8.1 g/t gold, 141 g/t
        silver and 4.5% zinc (elevation of 1,067 metres) 
    --  BUUY087: 0.45 metres @ 6.8 g/t gold and 842 g/t silver (elevation of
        1,217 metres) and 2.6 metres @ 7.4 g/t gold and 72 g/t silver
        (elevation of 1,206 metres) 
    --  BUUY088: 5.6 metres @ 5.9 g/t gold, 15 g/t silver and 3.2% zinc
        (elevation of 1,093 metres) 
    --  BUUY089: 5.2 metres @ 6.8 g/t gold and 259 g/t silver (including 1.3
        metres @ 16.3 g/t gold, 892 g/t silver and 6.6% zinc (elevation of
        1,065 metres) 

 
These results are interpreted as representing substantial extensions
to the Vein A, Vein D and other northerly yet to be modeled vein
sets.  


 
--  In eastern Yaragua, the results of BUSY309 extended the southern and
    central Yaragua vein sets; intercepts in the Murcielagos vein package
    include: 
    
    --  5.0 metres @ 9.6 g/t gold and 10 g/t silver (including 1.0 metres @
        38.1 g/t gold and 14 g/t silver) (elevation of 1,317 metres) 
    --  4.71 metres @ 6.0 g/t gold and 84 g/t silver (including 0.73 metres
        @ 23.5 g/t gold and 282 g/t silver) (elevation of 1,324 metres) 
        
--  In central western Yaragua, two drill-holes intersected relatively high-
    grade and thick intercepts in the Vein C package, including: 
    
    --  6.3 metres @ 15.7 g/t gold and 11 g/t silver (including 2.0 metres @
        31.2 g/t gold and 19 g/t silver) (BUSY307; elevation of 1,255
        metres) 
    --  4.8 metres @ 40.9 g/t gold and 50 g/t silver (including 1.75 metres
        @ 109.1 g/t gold and 121 g/t silver) (BUSY312; elevation of 1,304
        metres) 

 
Both these intercepts vertically extend the high grades in Vein C in
this area. 
Veta Sur Vein System (Figures 1 and 3) 


 
--  Drilling in the Veta Sur vein system ("Veta Sur") has resulted in
    extensions to several vein sets and the recognition of other veins also
    outside of the current mineral resource model, as well as providing
    additional in-fill results within the curre
nt mineral resource model. 
    
--  BUSY318, transected the central Veta Sur system, intersecting 20
    auriferous veins within the current mineral resource, including an
    intercept of: 
    
    --  16.5 metres @ 20.7 g/t gold and 41 g/t silver (including 1.12 metres
        @ 199 g/t gold and 346 g/t silver) (elevation of 1,647 metres) 

 
extending a broad high-grade zone by 30 vertical metres. 


 
--  Further down-hole, an intercept of: 
    
    --  0.85 metres @ 137 g/t gold and 20 g/t silver (elevation of 1,563
        metres) 
        
        represents a substantially higher grade than the vein modeled in
        this area and may mark a new Stage II mineralized subzone. At
        greater depths and further south, BUSY318 intersected several newly
        recognized veins including an intercept of:
        
        0.42 metres @ 59.7 g/t gold and 644 g/t silver (elevation of 1,405
        metres)
        
        
 
--  BUSY306 and BUSY313, drilled in north-eastern Veta Sur, both encountered
    around 20 auriferous veins, interpreted mostly as extensions of modeled
    veins. Intercepts outside of the current mineral resource model include:
    
    --  5.5 metres @ 8.8 g/t gold and 14 g/t silver (including 1.0 metres @
        17 g/t gold and 19 g/t silver) (BUSY306, elevation of 1,241 metres) 
    --  1.85 metres @ 4.3 g/t gold and 330 g/t silver (including 0.95 metres
        @ 8.2 g/t gold and 597 g/t silver) (BUSY313, elevation of 1,280
        metres) 
        
--  BUSY302, also in northeastern Veta Sur, intersected: 
    
    --  2.25 metres @ 21.9 g/t gold and 68 g/t silver (elevation of 1,682
        metres and outside of the current mineral resource envelope) 
        
--  BUSY311 extended several veins laterally in southwestern Veta Sur, high
    silver/gold intercepts include: 
    
    --  1.3 metres @ 1.8 g/t gold and 378 g/t silver (including 0.4 metres @
        3.6 g/t gold and 1,080 g/t silver) 

 
at an elevation of 1,650 metres, more than 800 metres higher
vertically than high-grade gold intercepts encountered in this area
with previous deep drilling.  
"It is most pleasing to see drilling continues to extend the
potential of both the Yaragua and Veta Sur systems," commented Ari
Sussman, CEO. "Additionally, infill drilling continues to intersect
higher than modeled grades, corroborating our thesis that with
increased density of data, grade should increase."  
Details  
Continental's 100%-owned, 57,641-hectare project, Buritica, contains
several known areas of high-grade gold and silver mineralization, of
base metal carbonate-style ("Stage I") variably overprinted by
texturally and chemically distinctive high-grade ("Stage II")
mineralization. The two most extensively explored of these areas (the
Yaragua and Veta Sur systems) are central to this land package. The
Yaragua system has been drill-outlined along 900 metres of strike and
1,300 vertical metres and partially sampled in underground
developments. The Veta Sur system has been drill intersected along
570 metres of strike and 1,180 vertical metres. Both systems are
characterized by multiple, steeply-dipping veins and broader, more
disseminated mineralization and both remain open at depth and along
strike, at high grades. See "About Continental Gold" (below) for a
precis of the updated mineral resource estimates for the Buritica
project prepared in accordance with NI 43-101. This release documents
the results of infill and extension drilling of the Yaragua and Veta
Sur vein systems. 
Yaragua Vein System  
Significant new drill intercepts are listed below in Table I and are
referenced in Figures 1 and 2.  


 
                                                                            
Table I: Drilling Highlights, Yaragua                                       
                                                                            
----------------------------------------------------------------------------
                    From       To  Interval    Gold  Silver  Zinc  Elevation
Drill-hole           (m)      (m)       (m)   (g/t)   (g/t)   (%)        (m)
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY307           139.00   140.50      1.50    1.31     3.0   0.1       1477
----------------------------------------------------------------------------
                  160.80   161.20      0.40    4.08     4.7   0.2       1459
----------------------------------------------------------------------------
                  192.00   195.00      3.00    1.65    13.9   0.7       1433
---------------------
-------------------------------------------------------
                  199.00   200.50      1.50    0.30    60.1   0.6       1428
----------------------------------------------------------------------------
                  258.50   261.00      2.50    5.23    17.2   2.2       1379
----------------------------------------------------------------------------
                  344.00   345.90      1.90   17.38    29.2   0.3       1310
----------------------------------------------------------------------------
                  355.60   359.30      3.70    2.77     6.8   0.2       1300
----------------------------------------------------------------------------
                  390.50   393.90      3.40    3.15     5.7   0.0       1272
----------------------------------------------------------------------------
                  402.00   403.55      1.55    1.92     4.2   0.1       1263
----------------------------------------------------------------------------
                  411.50   417.80      6.30   15.67    10.6   0.1       1255
----------------------------------------------------------------------------
incl.             411.50   413.50      2.00   31.20    19.2   0.1       1255
----------------------------------------------------------------------------
     
             421.85   423.60      1.75    9.28    11.0   0.2       1247
----------------------------------------------------------------------------
                  429.50   431.50      2.00    6.57    26.8   0.2       1241
----------------------------------------------------------------------------
                  434.22   438.50      4.28    2.40     6.0   0.0       1237
----------------------------------------------------------------------------
                  440.80   442.55      1.75    4.49    11.4   0.2       1232
----------------------------------------------------------------------------
                  455.50   457.00      1.50    2.07     1.6   0.1       1220
----------------------------------------------------------------------------
                  497.10   499.75      2.65    1.62    23.2   0.1       1187
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY309           128.50   131.00      2.50    0.78     8.6   0.2       1443
----------------------------------------------------------------------------
                  180.46   181.50      1.04    2.98     6.2   0.0       1398
----------------------------------------------------------------------------
                  191.00   192.60      1.60    3.26    91.6   1.1       1389
----------------------------------------------------------------------------
                  229.00   230.00      1.00    2.32    28.7   0.0       1355
----------------------------------------------------------------------------
                  238.80   239.95      1.15    2.67     6.9   0.9       1348
----------------------------------------------------------------------------
                  255.70   257.10      1.40    1.50    24.2   1.0       1333
----------------------------------------------------------------------------
                  265.75   270.46      4.71    5.97    84.0   1.9       1324
----------------------------------------------------------------------------
incl.             269.73   270.46      0.73   23.45   282.1   1.6       1320
----------------------------------------------------------------------------
                  273.40   278.40      5.00    9.60     9.7   0.6       1317
----------------------------------------------------------------------------
incl.             277.00   278.00      1.00   38.10    13.5   0.3       1314
----------------------------------------------------------------------------
                  285.55   290.50      4.95    1.38    11.3   0.8       1306
----------------------------------------------------------------------------
                  294.18   297.05      2.87    1.82    10.1   1.5       1304
----------------------------------------------------------------------------
                  298.75   300.40      1.65    2.75    18.3   1.0       1303
----------------------------------------------------------------------------
                  322.00   323.00      1.00    0.88    33.4  12.6       1275
----------------------------------------------------------------------------
                  360.40   362.00      1.60    5.44    15.8   1.1       1242
----------------------------------------------------------------------------
                  388.55   402.80     14.25    3.08     5.4   1.5       1218
----------------------------------------------------------------------------
incl.             394.70   396.00      1.30    9.01     8.5   1.7       1212
----------------------------------------------------------------------------
                  490.30   492.00      1.70    1.46     6.5   0.2       1131
----------------------------------------------------------------------------
                  496.20   499.20      3.00    4.69    34.8   0.1       1126
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY312           136.25   139.50      3.25    2.47     4.1   0.2       1485
----------------------------------------------------------------------------
                  166.00   167.00      1.00    3.18     2.8   0.3       1463
----------------------------------------------------------------------------
                  169.00   170.00      1.00    3.42     3.5   0.2       1460
----------------------------------------------------------------------------
                  189.00   191.10      2.10    5.25    45.9   8.8       1445
----------------------------------------------------------------------------
   
               273.60   273.90      0.30    2.25     6.4   0.9       1380
----------------------------------------------------------------------------
                  342.00   342.60      0.60    2.20    11.1   0.1       1329
----------------------------------------------------------------------------
                  377.00   381.80      4.80   40.93    49.9   0.2       1304
----------------------------------------------------------------------------
incl.             377.00   378.75      1.75  109.07   121.3   0.3       1304
----------------------------------------------------------------------------
                  385.00   386.60      1.60   14.69     6.0   0.0       1298
----------------------------------------------------------------------------
                  393.00   394.40      1.40    1.97    10.9   0.2       1292
----------------------------------------------------------------------------
                  406.00   407.30      1.30    5.36     7.3   0.1       1282
----------------------------------------------------------------------------
                  416.50   417.00      0.50   10.45    11.4   0.3       1275
----------------------------------------------------------------------------
                  420.00   421.55      1.55    4.52    77.2   0.4       1272
----------------------------------------------------------------------------
                  442.10   446.20      4.10    3.93     9.0   0.5       1256
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY316            20.00    23.00      3.00    0.14    52.0   0.0       1702
----------------------------------------------------------------------------
                  104.00   104.70      0.70    0.06    43.1   0.3       1634
----------------------------------------------------------------------------
                  156.00   157.00      1.00    0.13   194.4   0.2       1591
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY078            10.20    10.60      0.40    2.28     2.1   0.9       1373
----------------------------------------------------------------------------
                   39.50    39.90      0.40    6.19    18.8   6.1       1348
----------------------------------------------------------------------------
                   62.30    63.00      0.70    1.63    84.7   0.3       1328
----------------------------------------------------------------------------
                  106.70   107.20      0.50   10.80   123.0   0.4       1291
----------------------------------------------------------------------------
                  133.50   135.45      1.95    3.30     2.0   0.0       1268
----------------------------------------------------------------------------
                  148.75   149.20      0.45    3.27    16.5   0.4       1255
----------------------------------------------------------------------------
                  191.50   192.00      0.50    1.46     4.0   0.4       1219
----------------------------------------------------------------------------
                  264.00   265.50      1.50    1.13     1.7   0.1       1157
----------------------------------------------------------------------------
                  275.00   275.75      0.75    6.53   333.6   1.3       1148
----------------------------------------------------------------------------
                  286.50   287.30      0.80    1.38     9.2   0.2       1138
----------------------------------------------------------------------------
                  347.30   348.30      1.00    9.65     7.1   1.3       1087
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY079            13.00    14.00      1.00    4.35     3.3   0.0       1369
----------------------------------------------------------------------------
                   16.00    19.00      3.00    1.54     5.7   0.2       1366
----------------------------------------------------------------------------
                   63.70    66.50      2.80    2.89    23.9   0.1       1321
----------------------------------------------------------------------------
                  228.00   232.70      4.70    7.56     5.4   0.3       1165
----------------------------------------------------------------------------
incl.             230.20   231.60      1.40   21.20     8.3   0.4       1163
----------------------------------------------------------------------------
                  272.50   273.00      0.50    4.05     2.6   0.1       1123
----------------------------------------------------------------------------
                  300.70   301.70      1.00   10.28    35.8   1.6       1097
----------------------------------------------------------------------------
                  305.60   306.80      1.20    4.03    99.0   1.7       1092
----------------------------------------------------------------------------
                  378.00   380.20      2.20    3.79     8.0   0.6       1024
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY080            70.50    72.50      2.00    0.93    11.5   0.1       1430
----------------------------------------------------------------------------
                  104.40   105.20      0.80    1.87     7.5   0.3       1397
----------------------------------------------------------------------------
                  139.50   140.80      1.30    1.95     9.6   0.4       1364
----------------------------------------------------------------------------
                  154.50   155.50      1.00    4.70     2.8   0.2       1350
----------------------------------------------------------------------------
                  187.90   191.20      3.30    1.19     9.2   0.9       1318
----------------------------------------------------------------------------
                  199.20   201.50      2.30    7.90    10.0   0.7       1307
----------------------------------------------------------------------------
                  203.50   204.50      1.00    4.67     4.6   0.5       1303
----------------------------------------------------------------------------
                  240.00   245.20      5.20    6.92    34.5   4.7       1268
----------------------------------------------------------------------------
incl.             243.00   245.20      2.20   12.89    52.6   7.9       1266
-------------------------------------------------------------------------
---
                  259.00   261.00      2.00    1.59     9.9   0.6       1250
----------------------------------------------------------------------------
                  356.50   356.90      0.40    6.62   144.0   0.0       1158
----------------------------------------------------------------------------
                  363.60   364.55      0.95    1.45    15.3   0.1       1151
----------------------------------------------------------------------------
                  369.00   369.50      0.50    4.44    22.1   0.7       1146
----------------------------------------------------------------------------
                  380.40   387.00      6.60    5.59    18.2   0.0       1135
----------------------------------------------------------------------------
incl.             382.10   385.02      2.92   10.38    32.9   0.0       1134
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY081            54.00    55.50      1.50    2.65     3.2   0.0       1356
----------------------------------------------------------------------------
                   77.75    79.10      1.35   18.75    45.7   0.4       1345
----------------------------------------------------------------------------
                  111.50   113.00      1.50    1.09     2.5   0.0       1329
----------------------------------------------------------------------------
                  196.50   198.00      1.50    1.14     0.7   0.0       1289
----------------------------------------------------------------------------
                  226.80   229.40      2.60    3.28     2.7   0.1       1275
----------------------------------------------------------------------------
                  231.40   231.80      0.40    2.69  1360.0   0.8       1273
----------------------------------------------------------------------------
                  258.30   258.70      0.40    6.28    12.2   0.1       1260
----------------------------------------------------------------------------
                  273.80   274.20      0.40    7.67     7.3   0.2       1253
----------------------------------------------------------------------------
                  279.00   279.50      0.50    0.09    79.2   0.1       1251
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY083            15.20    20.20      5.00    5.05    33.0   0.3       1371
----------------------------------------------------------------------------
                   24.70    47.00     22.30   23.91   255.0   1.9       1364
----------------------------------------------------------------------------
incl.              28.40    33.00      4.60   36.83  1070.8   6.1       1361
----------------------------------------------------------------------------
and                41.20    42.80      1.60  183.00    96.3   0.5       1352
----------------------------------------------------------------------------
                   53.50    56.00      2.50    7.10    13.6   0.4       1343
----------------------------------------------------------------------------
                   61.00    66.00      5.00    2.71     8.6   0.2       1337
----------------------------------------------------------------------------
                   79.40    79.80      0.40    4.80    24.4   5.9       1324
----------------------------------------------------------------------------
                   95.98    96.38      0.40    5.64    41.8   3.5       1311
----------------------------------------------------------------------------
                  280.00   282.00      2.00    1.64    18.9   0.1       1175
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY085             4.50     5.70      1.20    4.21    45.3   0.2       1378
----------------------------------------------------------------------------
                   45.50    50.20      4.70    1.67     2.5   0.3       1347
----------------------------------------------------------------------------
                   59.00    62.60      3.60    1.86     9.6   0.3       1337
----------------------------------------------------------------------------
                   64.50    66.55      2.05    2.30     8.2   0.4       1333
----------------------------------------------------------------------------
                   69.60    71.75      2.15    7.84    35.9   1.0       1330
----------------------------------------------------------------------------
                   83.50    85.40      1.90    2.43    17.0   5.5       1319
----------------------------------------------------------------------------
                   91.00    93.00      2.00    1.16    16.3   0.4       1314
----------------------------------------------------------------------------
                  111.00   112.00      1.00    1.61    22.0   1.2       1299
----------------------------------------------------------------------------
                  135.00   138.00      3.00    1.16     4.4   0.5       1281
----------------------------------------------------------------------------
                  151.50   154.00      2.50    2.70     1.4   0.0       1269
----------------------------------------------------------------------------
                  166.50   168.00      1.50    4.43     1.5   0.0       1258
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY086            11.72    16.20      4.48    2.74     7.7   0.1       1371
----------------------------------------------------------------------------
                   23.75    24.15      0.40    7.71    62.0   0.2       1361
----------------------------------------------------------------------------
                   26.30    46.50     20.20   11.38    59.2   0.9       1359
----------------------------------------------------------------------------
incl.              30.50    32.10      1.60   68.30   141.8   0.5       1355
----------------------------------------------------------------------------
and                39.90    40.50      0.60   66.03    24.1   1.3       1347
----------------------------------------------------------------------------
                   48.60    49.50      0.90    3.10    14.2   2.5       1340
----------------------------------------------------------------------------
                   52.00    62.79     10.79   11.41    56.5   2.5       1337
----------------------------------------------------------------------------
incl.              59.82    60.89      1.07   77.43   409.5  14.6       1330
----------------------------------------------------------------------------
                   69.30    71.00      1.70    1.20    27.1   0.8       1322
----------------------------------------------------------------------------
                   73.30    73.70      0.40    2.22   303.0   2.2       1319
----------------------------------------------------------------------------
                   98.00    98.40      0.40    1.34     9.3   6.0       1298
----------------------------------------------------------------------------
                  115.50   116.70      1.20    2.78    22.2   1.5       1283
----------------------------------------------------------------------------
                  281.00   281.40      0.40    3.12    19.6  10.3       1143
----------------------------------------------------------------------------
                  299.43   300.10      0.67    9.16   277.0  14.4       1128
----------------------------------------------------------------------------
                  335.50   336.35      0.85    1.31    30.7   1.8       1098
----------------------------------------------------------------------------
                  347.20   349.00      1.80    1.27     6.7   1.0       1089
----------------------------------------------------------------------------
                  374.30   375.55      1.25    8.10   140.9   4.5       1067
----------------------------------------------------------------------------
                  386.00   389.20      3.20    1.07    31.8   0.4       1057
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY087            50.10    50.50      0.40    2.35     6.8   0.1       1451
----------------------------------------------------------------------------
       
            98.30    99.10      0.80    1.95     3.5   0.1       1406
----------------------------------------------------------------------------
                  109.80   110.85      1.05    4.46     3.4   0.1       1395
----------------------------------------------------------------------------
                  112.10   115.40      3.30   37.49    27.2   1.8       1393
----------------------------------------------------------------------------
incl.             112.50   114.00      1.50   77.76    35.1   1.8       1393
----------------------------------------------------------------------------
                  133.00   134.00      1.00   13.25     2.2   0.1       1374
----------------------------------------------------------------------------
                  176.60   177.00      0.40    5.31    40.7   4.6       1334
----------------------------------------------------------------------------
low recov         204.30   207.70      3.40    1.40    61.9   5.3       1308
----------------------------------------------------------------------------
                  220.00   221.00      1.00    0.34    32.8   4.0       1294
----------------------------------------------------------------------------
                  229.50   231.70      2.20    0.39    25.0   5.6       1285
----------------------------------------------------------------------------
                  240.50   241.60      1.10    1.13    21.9   2.2       1275
----------------------------------------------------------------------------
                  245.00   248.00      3.00    0.62    15.1   0.9       1270
----------------------------------------------------------------------------
                  290.00   290.90      0.90    1.92    12.0   0.2       1228
----------------------------------------------------------------------------
                  301.90   302.35      0.45    6.78   842.0   1.0       1217
----------------------------------------------------------------------------
                  313.80   316.40      2.60    7.36    71.8   0.4       1206
----------------------------------------------------------------------------
                  326.60   330.00      3.40    2.65    39.4   0.5       1194
----------------------------------------------------------------------------
                  396.50   397.50      1.00    1.56     1.4   0.0       1128
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY088             9.50    11.50      2.00    4.00     2.3   0.0       1373
----------------------------------------------------------------------------
                   20.70    33.00     12.30    1.33     5.7   0.3       1363
----------------------------------------------------------------------------
                   35.00    38.00      3.00    3.48     9.1   1.0       1350
----------------------------------------------------------------------------
                   53.00    54.60      1.60    2.72    10.8   0.5       1334
----------------------------------------------------------------------------
                   62.40    66.35      3.95    2.37    12.2   0.9       1326
----------------------------------------------------------------------------
                   71.60    72.00      0.40    4.22    35.7   1.9       1317
----------------------------------------------------------------------------
                   81.80    83.15      1.35    4.32    80.1   7.2       1308
----------------------------------------------------------------------------
                  135.30   138.60      3.30    1.11    14.1   0.3       1260
----------------------------------------------------------------------------
                  146.50   147.00      0.50    3.76     1.3   0.1       1250
----------------------------------------------------------------------------
                  214.00   215.50      1.50    1.05     9.5   0.3       1189
----------------------------------------------------------------------------
                  311.30   311.70      0.40    7.76    15.5   1.1       1103
----------------------------------------------------------------------------
                  317.70   318.10      0.40    7.56     8.5   1.3       1097
----------------------------------------------------------------------------
                  321.90   327.50      5.60    5.94    14.8   3.2       1093
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY089            28.70    32.65      3.95    1.49     4.6   0.3       1354
----------------------------------------------------------------------------
                   55.50    58.00      2.50   18.24    52.1   1.1       1330
----------------------------------------------------------------------------
                   87.00    87.90      0.90    3.62     4.5   0.3       1300
----------------------------------------------------------------------------
                  103.40   109.85      6.45    3.41    20.0   2.8       1285
----------------------------------------------------------------------------
incl.             107.84   108.44      0.60   14.55   157.1  24.4       1281
----------------------------------------------------------------------------
                  120.50   121.30      0.80    2.03     3.2   0.4       1270
----------------------------------------------------------------------------
                  132.65   134.20      1.55    1.41     8.6   2.1       1258
----------------------------------------------------------------------------
                  137.80   141.10      3.30    1.94     3.1   0.3       1254
----------------------------------------------------------------------------
                  144.65   146.15      1.50    2.68     5.7   0.4       1247
----------------------------------------------------------------------------
                  149.10   150.40      1.30   16.78    13.9   4.6       1243
----------------------------------------------------------------------------
                  302.00   304.50      2.50    8.80    75.6   0.1       1103
----------------------------------------------------------------------------
                  321.00   322.80      1.80    2.44    18.0   3.9       1086
----------------------------------------------------------------------------
                  337.00   338.00      1.00    1.06    23.6   0.2       1071
----------------------------------------------------------------------------
                  343.60   348.80      5.20    6.81   259.3   2.3       1065
----------------------------------------------------------------------------
incl.             343.60   344.90      1.30   16.32   891.8   6.6       1065
----------------------------------------------------------------------------
                  391.10   391.50      0.40   14.45   134.0   3.6       1022
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUUY090            28.10    28.50      0.40    2.87     3.3   0.2       1484
----------------------------------------------------------------------------
                   90.70    93.00      2.30    9.86    10.1   1.1       1454
----------------------------------------------------------------------------
(i)Intercepts calculated at 1 g/t gold + 30 g/t silver cut-off grades for   
minimum intervals of 0.4 metres, with up to 30% internal dilution. True     
widths not accurately known but generally are between 30% and actual true   
width of the down-hole interval. Drill-holes designated "BUUY" were collared
from underground, whereas drill-holes designated "BUSY" were collared at    
surface. 

 
Two fans of underground holes were drilled in eastern and central
Yaragua, targeting the central and northern Yaragua vein families and
extensions of the Yaragua system further to the north (Figure 1).
Each drill-hole encountered multiple gold-silver and variable base
metal mineralized intercepts. Within the current Yaragua mineral
resource envelope, the grades and apparent thicknesses of these
intercepts were generally consistent with related vein domains in
comparable areas of the current mineral resource model. Drill-hole
intercepts exhibiting substantially higher grades and/or greater
thicknesses than the current model include: 


 
--  BUUY083 from 24.7 metres down-hole, 22.3 metres @ 23.9 g/t gold and 255
    g/t silver (including 4.6 metres @ 36.8 g/t gold, 1,071 g/t silver and
    1.6 metres @ 183 g/t gold and 96 g/t silver) (elevation of 1,364 metres)
    
--  BUUY086 from 26.3 metres down-hole, 20.2 metres @ 11.4 g/t gold and 59
    g/t silver (including 1.6 metres @ 68.3 g/t gold, 142 g/t silver and
    0.60 metres @ 66.0 g/t gold and 24 g/t silver) (elevation of 1,359
    metres)  

 
The above intercepts represent amalgamations of the PRE and VNB vein
packages with true thicknesses of more than 12 metres.  


 
--  BUUY086 from 52 metres down-hole, 10.79 metres @ 11.4 g/t gold and 57
    g/t silver (including 1.07 metres @ 77.4 g/t gold and 410 g/t silver)
    (elevation of 1,337 metres) 
    
--  BUUY087 from 112.1 metres down-hole, 3.3 metres @ 37.5 g/t gold and 27
    g/t silver (including 1.5 metres @ 77.8 g/t gold and 35 g/t silver)
    (elevation of 1,393 metres) 

 
Those intercepts in Vein C are separated by more than 200 metres of
lateral strike. 


 
--  BUUY079 from 228.0 metres down-hole, 4.7 metres @ 7.6 g/t gold and 5 g/t
    silver (including 1.4 metres @ 21.2 g/t gold and 8 g/t silver). This
    intercept in Vein FWV is at an elevation of 1,165 metres. 

 
Drill-holes that were continued to the north of and outside the
current Yaragua mineral resource model intersected multiple veins,
some of which are enriched in silver and zinc with over 200 metre
lateral and 200 metre vertical extents. In central Yaragua,
significant intersections include: 


 
--  BUUY080 from 380.4 metres down-hole, 6.6 metres @ 5.6 g/t gold and 18
    g/t silver (including 2.92 metres @ 10.4 g/t gold and 33 g/t silver)
    (elevation of 1,135 metres) 
--  BUUY081 from 231.4 metres down-hole, 0.4 metres @ 2.7 g/t gold and 1,360
    g/t silver (elevation of 1,273 metres) 
--  BUUY087 from 301.9 metres down-hole, 0.45 metres @ 6.8 g/t gold and 842
    g/t silver (elevation of 1,217 metres) and also, from 313.8 metres down-
    hole, 2.6 metres @ 7.4 g/t gold and 72 g/t silver (elevation of 1,206
    metres) 

 
In eastern Yaragua, significant intersections include: 


 
--  BUUY078 from 275.0 metres down-hole, 0.75 metres @ 6.5 g/t gold and 334
    g/t silver (elevation of 1,148 metres) 
--  BUUY079 from 300.7 metres down-hole, 1.0 metres @ 10.3 g/t gold, 36 g/t
    silver (elevation of 1,097 metres) 
--  BUUY086 from 299.43 metres down-hole, 0.67 metres @ 9.2 g/t gold, 277
    g/t silver and 14.4% zinc (elevation of 1,128 metres) and also, from
    374.3 metres down-hole, 1.25 metres @ 8.1 g/t gold, 141 g/t silver and
    4.5% zinc (elevation of 1,067 metres) 
--  BUUY088 from 321.9 metres down-hole, 5.6 metres @ 5.9 g/t gold, 15 g/t
    silver and 3.2% zinc (elevation of 1,093 metres) 
--  BUUY089 from 302.0 metres down-hole, 2.5 metres @ 8.8 g/t gold and 76
    g/t silver (elevation of 1,103 metres) and also, from 343.6 metres down-
    hole, 5.2 metres @ 6.8 g/t gold, 259 g/t silver and 2.3% zinc (including
    1.3 metres @ 16.3 g/t gold, 892 g/t silver and 6.6% zinc (elevation of
    1,065 metres) 

 
These and other intercepts are interpreted to represent lateral
and/or vertical extensions of the Vein A and Vein D packages and also
yet to be modeled vein domains to the north of the current Yaragua
mineral resource model.  
The results of BUSY309 extend the southern and central Yaragua vein
sets to the east and to depth in eastern Yaragua. Thick intercepts in
the Murcielagos vein package include: 


 
--  From 273.4 metres down-hole, 5.0 metres @ 9.6 g/t gold and 10 g/t silver
    (including 1.0 metres @ 38.1 g/t gold and 14 g/t silver) (elevation of
    1,317 metres) 
--  From 265.75 metres down-hole, 4.71 metres @ 6.0 g/t gold and 84 g/t
    silver (including 0.73 metres @ 23.5 g/t gold and 282 g/t silver)
    (elevation of 1,324 metres) 

 
BUSY307 and BUSY312 were drilled from central Yaragua to the
northwest, testing the southern and central Yaragua vein packages.
Within the mineral resource envelope, mineralized intercepts were
generally of comparable grades and thicknesses to comparable vein
domains in the current mineral resource model. Both drill-holes
vertically extended high gold grades in Vein C, with broad intercepts
of: 


 
--  BUSY307: from 411.5 metres down-hole, 6.3 metres @ 15.7 g/t gold and 11
    g/t silver (including 2.0 metres @ 31.2 g/t gold and 19 g/t silver)
    (elevation of 1,255 metres) 
--  BUSY312: from 377.0 metres down-hole, 4.8 metres @ 40.9 g/t gold and 50
    g/t silver (including 1.75 metres @ 109.1 g/t gold and 121 g/t silver)
    (elevation of 1,304 metres) 

 
and also extended the Sofia Vein with intercepts of: 


 
--  BUSY307 from 421.85 metres down-hole, 1.75 metres @ 9.3 g/t gold and 11
    g/t silver (elevation of 1,247 metres) 
--  BUSY312 from 385.0 metres down-hole, 1.6 metres @ 14.7 g/t gold and 6
    g/t silver (elevation of 1,298 metres) 

 
BUSY316 intersected several high silver/gold vein domains (Table I)
at high elevations in the sparsely-drilled Yaragua South area. It is
not yet clear whether these vein domains may represent the most
southerly shallow parts of the Yaragua system or whether the veins
encountered are easterly extensions of the southern Veta Sur vein
system (Figure 1). 
Veta Sur Vein System  
Significant new drill intercepts are listed below in Table II and are
referenced in Figures 1 and 3.  


 
                                                                            
Table II: Drilling Highlights, Veta Sur                                     
                                                                            
----------------------------------------------------------------------------
                    From       To  Interval    Gold  Silver  Zinc  Elevation
Drill-hole           (m)      (m)       (m)   (g/t)   (g/t)   (%)        (m)
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY302            29.65    31.90      2.25   21.93    68.4   7.0       1682
----------------------------------------------------------------------------
                   73.40    77.10      2.70    0.99    70.4   1.3       1641
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY304           318.55   319.30      0.75    0.39    49.9   0.3       1657
----------------------------------------------------------------------------
                  357.10   358.00      0.90    0.87    71.6   0.5       1629
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY306           196.00   197.00      1.00    1.30     3.8   0.1       1519
----------------------------------------------------------------------------
                  206.50   208.70      2.10    1.51     5.0   0.
1       1509
----------------------------------------------------------------------------
                  234.60   235.00      0.40   12.75    25.3   0.1       1481
----------------------------------------------------------------------------
                  255.88   256.28      0.40    2.21     9.8   0.0       1460
----------------------------------------------------------------------------
                  261.56   262.70      1.14    8.42    10.8   0.0       1455
----------------------------------------------------------------------------
                  290.90   291.40      0.50    5.56    25.7   0.1       1426
----------------------------------------------------------------------------
                  297.30   300.60      3.30    4.53    10.0   0.0       1420
----------------------------------------------------------------------------
                  324.70   326.00      1.30    3.25    10.3   0.0       1393
----------------------------------------------------------------------------
                  332.73   333.23      0.50    4.73    13.1   0.0       1385
----------------------------------------------------------------------------
                  337.75   338.15      0.40    3.42     6.4   0.0       1381
----------------------------------------------------------------------------
                  341.84   342.70      0.86    2.40     8.1   0.0       1377
----------------------------------------------------------------------------
                  425.00   426.00      1.00    4.45     4.7   0.0       1296
----------------------------------------------------------------------------
                  443.20   443.80      0.60    4.54     5.0   0.0       1278
----------------------------------------------------------------------------
                  453.00   453.95      0.95    9.07     5.4   0.0       1268
----------------------------------------------------------------------------
                  481.50   487.00      5.50    8.84    14.2   0.1       1241
----------------------------------------------------------------------------
incl.             484.50   485.50      1.00   17.00    19.1   0.0       1238
----------------------------------------------------------------------------
                  491.00   491.48      0.48    3.30     9.3   0.1       1231
----------------------------------------------------------------------------
                  498.49   499.50      1.01    4.78     5.9   0.1       1224
----------------------------------------------------------------------------
                  502.50   507.50      5.00    3.54    10.2   0.0       1220
----------------------------------------------------------------------------
                  524.50   526.00      1.50    4.26    10.5   0.0       1199
----------------------------------------------------------------------------
                  532.80   534.40      1.60    3.98     7.6   0.0       1191
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY311           235.55   237.60      2.05    0.50    84.9   1.1       1716
----------------------------------------------------------------------------
                  262.90   264.00      1.10    4.51    66.6   1.2       1694
----------------------------------------------------------------------------
                  287.35   288.50      1.15    1.35    21.6   1.2       1675
----------------------------------------------------------------------------
                  319.65   320.95      1.30    1.78   378.1   2.5       1650
----------------------------------------------------------------------------
incl.             319.65   320.05      0.40    3.56  1080.0   6.9       1650
----------------------------------------------------------------------------
                  364.90   365.35      0.45    0.73    15.2   0.6       1615
----------------------------------------------------------------------------
                  394.60   395.40      0.80    0.86    20.7   0.4       1593
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY313             4.70     5.70      1.00    0.68    86.4   0.0       1706
----------------------------------------------------------------------------
                   17.25    17.70      0.45    4.64   155.0   2.5       1694
----------------------------------------------------------------------------
                   83.77    84.70      0.93    2.10    84.4   0.1       1631
----------------------------------------------------------------------------
                  125.90   126.80      0.90    7.62    51.4   0.0       1591
----------------------------------------------------------------------------
                  132.25   133.40      1.15    2.17    29.2   0.0       1585
----------------------------------------------------------------------------
                  214.00   216.10      2.10    1.56    12.4   0.1       1507
----------------------------------------------------------------------------
                  222.00   223.18      1.18    7.42    10.7   0.1       1500
----------------------------------------------------------------------------
                  242.07   242.47      0.40    7.54    10.1   0.1       1481
----------------------------------------------------------------------------
                  255.80   256.90      1.10   12.05   231.0   0.1       1467
----------------------------------------------------------------------------
                  267.97   268.80      0.83    2.09     7.9   0.0       1456
----------------------------------------------------------------------------
                  276.45   277.90      1.45    3.02    30.4   0.1       1447
----------------------------------------------------------------------------
                  294.45   294.85      0.40    4.08     6.9   0.0       1430
----------------------------------------------------------------------------
                  308.00   309.50      1.50    1.57    46.6   0.1       1417
----------------------------------------------------------------------------
                  316.75   320.50      3.75    2.77     9.4   0.0       1409
----------------------------------------------------------------------------
                  332.00   333.00      1.00    3.68    12.1   0.2       1394
----------------------------------------------------------------------------
                  339.00   339.40      0.40    9.15    12.9   0.0       1387
----------------------------------------------------------------------------
                  341.50   344.00      2.50    5.43    15.5   0.0       1385
----------------------------------------------------------------------------
                  361.00   363.10      2.10    2.23   196.9   0.4       1366
----------------------------------------------------------------------------
incl.             362.00   363.10      1.10    3.81   353.2   0.7       1365
----------------------------------------------------------------------------
                  366.80   367.40      0.60    6.52   258.0   0.2       1360
----------------------------------------------------------------------------
                  378.10   380.20      2.10    0.86    28.9   0.1       1349
----------------------------------------------------------------------------
                  383.25   383.65      0.40    2.07    84.1   0.2       1344
----------------------------------------------------------------------------
                  403.00   404.00      1.00    1.99    16.6   1.5       1325
----------------------------------------------------------------------------
                  429.00   432.00      3.00    1.45    59.5   0.1       1300
------------------------------------------------------------------
----------
                  441.90   444.30      2.40    1.94    41.9   0.0       1288
----------------------------------------------------------------------------
                  449.65   451.50      1.85    4.32   330.4   0.2       1280
----------------------------------------------------------------------------
incl.             449.65   450.60      0.95    8.22   596.8   0.1       1280
----------------------------------------------------------------------------
                  491.00   496.00      5.00    3.03    44.9   0.1       1241
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY314           403.60   404.20      0.60    1.05     5.4   1.3       1561
----------------------------------------------------------------------------
                  413.90   414.50      0.60    1.35    24.2   1.7       1553
----------------------------------------------------------------------------
                  417.40   418.90      1.50    1.86    17.5   4.2       1550
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY315            28.30    28.90      0.60    0.39    72.2   2.5       1683
----------------------------------------------------------------------------
                   67.80    69.00      1.20    1.08     1.6   0.2       1646
----------------------------------------------------------------------------
                   78.50    79.60      1.10    0.33    45.8   0.0       1636
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BUSY318            57.95    59.55      1.60    0.08    99.1   0.3       1735
----------------------------------------------------------------------------
                  110.95   111.35      0.40    8.50     6.0   0.3       1692
----------------------------------------------------------------------------
                  115.10   117.80      2.70    0.89    35.8   3.0       1688
----------------------------------------------------------------------------
                  133.45   134.45      1.00    2.07     4.1   0.1       1673
----------------------------------------------------------------------------
                  139.35   140.63      1.28    3.81     9.4   0.4       1668
----------------------------------------------------------------------------
                  151.85   152.33      0.48    9.39    76.4   0.1       1658
----------------------------------------------------------------------------
                  153.95   154.43      0.48    3.39    47.4   0.0       1656
----------------------------------------------------------------------------
                  165.50   182.00     16.50   20.70    40.5   0.2       1647
----------------------------------------------------------------------------
incl.             172.25   173.37      1.12  198.97   345.6   0.1       1641
----------------------------------------------------------------------------
and               181.15   182.00      0.85   63.67    30.2   0.1       1634
----------------------------------------------------------------------------
                  184.05   187.00      2.95    1.78     8.4   0.1       1631
----------------------------------------------------------------------------
                  189.29   192.30      3.01    1.49    11.8   0.2       1627
----------------------------------------------------------------------------
                  193.92   195.35      1.43    1.68    34.9   0.3       1623
----------------------------------------------------------------------------
                  208.00   210.35      2.35    1.36    20.6   0.1       1611
----------------------------------------------------------------------------
                  239.22   240.06      0.84    2.45    15.0   0.1       1585
----------------------------------------------------------------------------
                  245.63   247.29      1.66    2.92     8.9   0.1       1580
----------------------------------------------------------------------------
                  251.78   252.28      0.50    2.64    32.1   0.4       1575
----------------------------------------------------------------------------
                  261.13   261.80      0.67    7.89    16.4   0.1       1567
----------------------------------------------------------------------------
                  266.60   267.45      0.85  137.00    20.1   0.0       1563
----------------------------------------------------------------------------
                  273.86   275.00      1.14    5.04     2.4   0.0       1557
----------------------------------------------------------------------------
                  297.28   298.85      1.57    1.30    19.9   0.1       1537
----------------------------------------------------------------------------
                  317.48   317.89      0.41    2.45    44.5   0.5       1520
----------------------------------------------------------------------------
                  328.15   329.00      0.85    1.38     9.6   0.0       1511
----------------------------------------------------------------------------
                  365.30   366.25      0.95    2.76    18.7   0.5       1481
----------------------------------------------------------------------------
                  417.80   418.40      0.60    9.61     8.9   0.4       1438
----------------------------------------------------------------------------
                  458.80   459.22      0.42   59.70   644.0   0.3       1405
----------------------------------------------------------------------------
(i)Intercepts calculated at 1 g/t gold + 30 g/t silver cut-off grades for   
minimum intervals of 0.4 metres, with up to 30% internal dilution. True     
widths not accurately known but generally are between 30% and actual true   
width of the down-hole interval.                                            

 
Three drill-holes (BUSY302, BUSY315 and BUSY306) targeted
northeasterly extensions of the Veta Sur vein system into the area of
Yaragua South (Figure 1).  
The most easterly of these drill-holes, BUSY306, intersected 20
auriferous veins (with low silver/gold), over 390 metres vertical and
120 metres horizontal strike lengths, respectively. All intercepts
(Table II) are outside of the current mineral resource model but
apparently align with modeled veins to the southwest. Several broad
and/or high-grade intercepts, including 5.5 metres @ 8.8 g/t gold and
14 g/t silver (containing 1.0 metres @ 17 g/t gold and 19 g/t silver,
from 484.5 metres down-hole, elevation of 1,238 metres) will
facilitate the northeasterly extension of several Veta Sur vein sets
at grade-thicknesses above 3 g/t gold cut-off. All veins are open
laterally and to depth.  
BUSY302, drilled with a northwest azimuth, encountered a high-grade
base metal-rich vein (2.25 metres @ 21.9 g/t gold, 68 g/t silver and
7.0% zinc, from 29.65 metres down-hole, elevation of 1,682 metres).
This intercept is outside of the current mineral resource envelope
for the more southerly Veta Sur vein sets. After intersecting a high
silver/gold vein further down-hole, BUSY302 was abandoned because of
drilling problems prior to reaching its prime targets.  
BUSY315, after intersecting several veins with high silver/gold, was
also abandoned at shallow depths prior to attaining its main targets. 
Drilled from north to south across central Veta Sur, BUSY318
intersected (around elevations of 1,734 metres) high silver/gold
veins that appear to align with high-grade gold intercepts in BUSY291
(see October 29, 2012 news release) more than 800 metres below and
also outside of the c
urrent mineral resource envelope.  
Between 100 metres and 300 metres down-hole, BUSY318 intersected
eighteen veins, with intercepts mostly exhibiting gold and silver
grades comparable with corresponding domains in the current mineral
resource model in this area. The high-grade intercept of 16.5 metres
@ 20.7 g/t gold and 41 g/t silver (from 165.5 metres down-hole,
elevation of 1,647 metres ) included two very high grade intervals
(1.12 metres @ 199.0 g/t gold, 346 g/t silver and 0.85 metres @ 63.7
g/t gold and 30 g/t silver) of Stage II mineralization. The true
horizontal width of this intercept (estimated as 10 metres) is
greater than the corresponding domains in the mineral resource model
and is at elevations more than 30 metres higher than the nearest
high-grade intercepts in BUSY079 (see August 31, 2010 news release).
From 266.6 metres down-hole, BUSY318 intersected 0.85 metres @ 137.0
g/t gold and 20 g/t silver (elevation of 1,563 metres). This
intercept is of substantially higher grades than the related mineral
resource domain and interpreted to be part of a steeply plunging,
high-grade (Stage II mineralized) subzone, separate from that further
up-hole.   
From 300 metres down-hole, BUSY318 intersected four auriferous veins
to the south of the Veta Sur mineral resource envelope. These
intercepts are interpreted to represent a southern family of yet to
be modeled veins in Veta Sur, which will be drilled from the Veta Sur
ramp in 2013. The BUSY318 intercept of 0.42 metres @ 59.7 g/t gold
and 644 g/t silver (from 458.8 metres down-hole, elevation of 1,405
metres) is the most southerly and deepest high-grade intercept so far
encountered in the southern Veta Sur vein family.  
Two drill-holes (BUSY311 and BUSY314), located some 550 metres to the
southwest of BUSY318, tested for extensions of the Veta Sur system in
this area (Figure 1). Each drill-hole encountered multiple intervals
of high silver/gold mineralization and moderate to high base metal
contents at relatively high elevations between 1,550 and 1,700 metres
elevation to the southwest of the Veta Sur mineral resource model.
The two higher grade intercepts in BUSY311 (1.10 metres @ 4.5 g/t
gold and 67 g/t silver, from 262.9 metres down-hole and also 1.30
metres @ 1.8 g/t gold and 378 g/t silver, including 0.4 metres @ 3.6
g/t gold, 1,080 g/t silver and 6.9% zinc, from 319.65 metres
down-hole, elevation of 1,650 metres) are interpreted as potential
extensions of central Veta Sur vein sets. BUSY210 (see November 23,
2011 news release) drilled the potential vertical extensions of these
veins some 800 metre lower in elevation and 100 metres to the
northeast along strike and exhibited much higher gold grades with low
silver/gold. Further drilling will clarify the depth extensions of
vein sets encountered in BUSY311 and BUSY314 in due course.  
BUSY304 intersected several veins with high silver/gold about 200
metres to the southwest of intercepts in BUSY311. These vein sets may
represent far southwesterly extensions of Veta Sur or westerly
extensions of the Laurel vein system within the La Estera area (see
December 13, 2012 news release). 
Technical Information  
Vic Wall, PhD, special advisor to the Company and a qualified person
for the purpose of NI 43-101, has prepared or supervised the
preparation of, or approved, as applicable, the technical information
contained in this press release. Dr. Wall is a geologist with 35
years' experience in the minerals mining, consulting, exploration and
research industries. Following a career in Australian and North
American academes, he held senior positions in a number of
multinational major and junior minerals companies. A Fellow of the
Australian Institute of Geoscientists, Dr. Wall is Principal of Vic
Wall & Associates, a Brisbane-based consultancy that provides
geoscientific services to mineral companies and government agencies,
worldwide.  
The Company utilizes a rigorous, industry-standard QA/QC program.
Core is sawn in half with one-half shipped to a sample preparation
lab in Medellin run by ALS Colombia Limited ("ALS") in Colombia.
Samples are then shipped for analysis to an ALS-certified assay
laboratory in Lima, Peru. The remainder of the core is stored in a
secured storage facility for future assay verification. Blanks,
duplicates and certified reference standards are inserted into the
sample stream to monitor laboratory performance and a portion of the
samples are periodically check assayed at ACME Analytical
Laboratories in Vancouver, British Columbia and/or Inspectorate
America Corp. in Reno, Nevada.  
The Company does not receive assay results for drill-holes in
sequential order; however, all assay results are publicly reported. A
complete listing of assay results to date for the Buritica project is
available on the Company's website at www.continentalgold.com.  
For additional technical information on the Buritica project, please
refer to the Company's technical report (the "Technical Report")
entitled "2012 Mineral Resource Estimate of the Buritica Gold
Project, Colombia" dated November 15, 2012 with an effective date of
October 22, 2012, prepared by Andrew J Vigar, BAppSc Geo, FAusIMM,
MSEG, and Martin Recklies, BAppSC Geo, MAIG, each of Mining
Associates Pty Limited, available on SEDAR at www.sedar.com, on the
OTCQX at www.otcmarkets.com and on the Company website at
www.continentalgold.com.  
About Continental Gold  
Continental Gold Limited is an advanced-stage exploration and
development company with an extensive portfolio of 100%-owned gold
projects in Colombia. Spearheaded by a team with over 40 years of
exploration and mining experience in Colombia, the Company is focused
on advancing its high-grade Buritica gold project to production. On
October 1, 2012, the Company announced an updated mineral resource
estimate for the Buritica project prepared in accordance with NI
43-101 which covers two major vein systems, with combined Measured
and Indicated mineral resource of 3,740,000 tonnes of mineralized
material containing 1,640,000 ounces of gold grading 13.6 g/t gold,
4,600,000 ounces of silver grading 38 g/t silver, and 55,800,000
pounds of zinc grading 0.7% zinc. The combined Inferred mineral
resource is 13,330,000 tonnes of mineralized material containing
3,760,000 ounces of gold grading 8.8 g/t gold, 14,200,000 ounces of
silver grading 33 g/t silver and 156,500,000 pounds of zinc grading
0.5% zinc.  
In August 2012, Continental achieved an important milestone,
receiving formal approval for the modification of its existing
Environmental Impact Assessment. The amendment allows the Company to
build a six-kilometre switchback road and begin underground
development by constructing a one-kilometre access tunnel. With a
goal of being the newest hard rock gold producer in Colombia,
Continental has commenced the construction of the access tunnel,
which will initially provide access for underground drilling and
eventually used for commercial production. The objective of the drill
program underway at the Buritica project is to further delineate the
mineral resource and drill new target zones identified within its
concessions.  
Additional details on the Buritica project and the rest of
Continental's suite of gold exploration properties are available at
www.continentalgold.com. 
Forward-Looking Statements  
This press release contains or refers to forward-looking information
under Canadian securities legislation, including statements regarding
the estimation of mineral resources, exploration results, potential
mineralization, exploration and mine development plans, and timing of
the commencement of operations, and is based on current expectations
that involve a number of business risks and uncertainties.
Forward-looking statements are subject to significant risks and
uncertainties, and other factors that could cause actual results to
differ materially from expected results. Readers should not place
undue reliance on forward-looking statements. Factors that could
cause actual results to di
ffer materially from any forward-looking
statement include, but are not limited to, failure to convert
estimated mineral resources to reserves, capital and operating costs
varying significantly from estimates, the preliminary nature of
metallurgical test results, delays in obtaining or failures to obtain
required governmental, environmental or other project approvals,
political risks, uncertainties relating to the availability and costs
of financing needed in the future, changes in equity markets,
inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects and the other risks
involved in the mineral exploration and development industry
forward-looking statements are subject to significant risks and
uncertainties, and other factors that could cause actual results to
differ materially from expected results. Readers should not place
undue reliance on forward-looking statements. These forward-looking
statements are made as of the date hereof and the Company assumes no
responsibility to update them or revise them to reflect new events or
circumstances other than as required by law. 
Differences in Reporting of Resource Estimates  
This press release was prepared in accordance with Canadian
standards, which differ in some respects from United States
standards. In particular, and without limiting the generality of the
foregoing, the terms "inferred mineral resources", "indicated mineral
resources", "measured mineral resources" and "mineral resources" used
or referenced in this press release are Canadian mining terms as
defined in accordance with National Instrument 43-101 - Standards of
Disclosure for Mineral Projects under the guidelines set out in the
Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM")
Standards on Mineral Resources and Mineral Reserves (the "CIM
Standards"). The CIM Standards differ significantly from standards in
the United States. While the terms "mineral resource", "measured
mineral resources", "indicated mineral resources", and "inferred
mineral resources" are recognized and required by Canadian
regulations, they are not defined terms under standards in the United
States. "Inferred mineral resources" have a great amount of
uncertainty as to their existence, and great uncertainty as to their
economic and legal feasibility. It cannot be assumed that all or any
part of an inferred mineral resource will ever be upgraded to a
higher category. Under Canadian securities laws, estimates of
inferred mineral resources may not form the basis of feasibility or
other economic studies. Readers are cautioned not to assume that all
or any part of measured or indicated mineral resources will ever be
converted into reserves. Readers are also cautioned not to assume
that all or any part of an inferred mineral resource exists, or is
economically or legally mineable. Disclosure of "contained ounces" in
a resource is permitted disclosure under Canadian regulations;
however, United States companies are only permitted to report
mineralization that does not constitute "reserves" by standards in
the United States as in place tonnage and grade without reference to
unit measures. Accordingly, information regarding resources contained
or referenced in this press release containing descriptions of our
mineral deposits may not be comparable to similar information made
public by United States companies. 
To view "Figure 1 - Plan View of new drilling highlights, showing the
surface projection of veins in the October 2012 mineral resource
model on geology-topography", please visit the following link:
http://media3.marketwire.com/docs/FIG1846763.jpg.  
To view "Figure 2 - Yaragua Long Section, showing new drilling
highlights against the outlines of the October 2012 mineral resource
envelope", please visit the following link:
http://media3.marketwire.com/docs/FIG2846763.jpg.  
To view "Figure 3 - Veta Sur Long Section, showing new drilling
highlights against the outlines of the October 2012 mineral resource
envelope.", please visit the following link:
http://media3.marketwire.com/docs/FIG3846763.jpg.
Contacts:
Continental Gold Limited
Nisha Hasan
Director, Investor Relations
+1.416.583.5611
info@continentalgold.com
www.continentalgold.com
 
 
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