Continental Gold Drills 200-Metre High-Grade Step-Out Hole at La Estera, Buritica Project, Colombia

Continental Gold Drills 200-Metre High-Grade Step-Out Hole at La Estera, 
Buritica Project, Colombia 
TORONTO, ONTARIO -- (Marketwired) -- 04/03/13 -- Continental Gold
Limited (TSX:CNL)(OTCQX:CGOOF) ("Continental" or the "Company") is
pleased to announce results for 11 diamond drill-holes and
near-surface sampling in the La Estera and Yaragua areas, as part of
the Company's ongoing exploration program at the Buritica Project in
Antioquia, Colombia. Ten drills are currently on site as part of the
Company's Phase IV, minimum 95,000-metre diamond drill program for
2013. 
Highlights 
La Estera Area (Figures 1 and 2) 


 
--  Step out drilling in the La Estera area has extended the Laurel family
    of veins approximately 200 metres to the west. High-grade intercepts in
    BUSY332 include:
    
    --  9.83 metres @ 16.1 g/t gold and 50 g/t silver, including 3.34 metres
        @ 38.9 g/t gold and 111 g/t silver (elevation of 1,036 metres); and 
    --  1.75 metres @ 36.7 g/t gold and 182 g/t silver (elevation of 1,063
        metres).
        
--  BUSY333 and BUSY338 are interpreted to have intersected the Laurel
    family of veins 400-500 metres to the east of and at higher elevations
    than in BUSY332. Intercepts include: 
    
    --  0.3 metres @ 20.6 g/t gold and 29 g/t silver (BUSY333, elevation of
        1,313 metres); 
    --  0.4 metres @ 18.2 g/t gold and 7 g/t silver (BUSY338, elevation of
        1,574 metres); 
    --  1.23 metres @ 10.8 g/t gold, 97 g/t silver and 5.3% zinc (BUSY338,
        elevation of 1,459 metres); and 
    --  2.36 metres @ 9.2 g/t gold, 135 g/t silver and 9.0% zinc (BUSY338,
        elevation of 1,439 metres).
        
--  These drilling results are consistent with a lateral extent of the
    Laurel vein family of more than 500 metres and vertical extents of 500-
    1,000 metres, open to depth and to the east and west.
    
--  Further south, BUSY332 has extended mineralization in the La Estrella
    vein family to the west of previous drilling, whereas BUSY333 has
    intersected this vein system more than 1,000 vertical metres below
    related surface mineralization. 
    
--  In the northeast portion of the La Estera area, located just south of
    the Yaragua vein system, significant gold-silver 
mineralization has been
    encountered from both sampling of the Veta Sur decline ("Rampa Sur") and
    surface sampling in the vicinity of the decline portal. Assay results
    include: 
    
    --  1.5 metres @ 13.9 g/t gold and 5 g/t silver (Surface, elevation of
        1,729 metres); and 
    --  1.0 metres @ 7.9 g/t gold, 12 g/t silver and 8.5% zinc (Rampa Sur,
        elevation of 1,705 metres).
        
--  In the southeastern La Estera area, BUSY330 intersected several broad
    intervals of base metal-rich, gold-silver mineralization in the vicinity
    of the La Mano vein family, including:
    
    --  12.95 metres @ 3.8 g/t gold and 10 g/t silver, including 0.95 metres
        @ 13.4 g/t gold, 21 g/t silver and 2.5% zinc (elevation of 1,213
        metres); and 
    --  9.5 metres @ 2.7 g/t gold and 24 g/t silver (elevation of 1,182
        metres).
        
--  In the central-east part of the La Estera area, individual samples from
    two historic and narrow workings on the east-west trending La Mano vein
    family assayed 15.7 g/t gold, 254 g/t silver, 17.3% zinc and also 25.2
    g/t gold, 27 g/t silver and 2.7% zinc. These results, together with
    BUSY319 (see December 13, 2012 news release) confirm a minimum strike-
    length of 150 metres for this vein family, open laterally and to depth. 

 
Yaragua Vein System (Figures 1 and 3) 


 
--  In eastern Yaragua, four drill-holes transected the central and northern
    vein families. Intercepts to the north of the October 2012 mineral
    resource estimate, prepared in accordance with National Instrument 43-
    101 ("NI 43-101"), include: 
    
    --  6.3 metres @ 7.0 g/t gold and 60 g/t silver, including 0.8 metres @
        35.2 g/t gold, 366 g/t silver and 9.3% zinc (BUUY099, elevation of
        1,325 metres); 
    --  0.7 metres @ 22.3 g/t gold, 750 g/t silver and 4.6% zinc (BUUY099,
        elevation of 1,279 metres); and 
    --  0.6 metres @ 10.8 g/t gold and 117 g/t silver (BUUY100, elevation of
        1,242 metres). 

 
These and other results add further definition to extensions of the
Vein A, Vein AD and Vein D packages, the most northerly in the
Yaragua vein system.  


 
--  The eastern Yaragua drill-holes otherwise intersected veins with grades
    and thicknesses generally consistent with the current mineral resource
    model, with the exception of the following intercepts, which exhibited
    substantially greater apparent grades and thicknesses than in the
    current mineral resource model, including: 
    
    --  1.0 metres @ 34.6 g/t gold and 4 g/t silver (BUUY099, PRE vein,
        elevation of 1,376 metres); 
    --  1.7 metres @ 2.1 g/t gold and 350 g/t silver, (BUUY099, VNC,
        elevation of 1,369 metres); and 
    --  2.0 metres @ 12.5 g/t gold and 9 g/t silver (BUUY100, HWV, elevation
        of 1,351 metres). 
        
--  BUUY101, drilled southwards through the central and southern Yaragua
    vein families into Yaragua South, encountered intercepts in the VNB, VNE
    and Murcielagos vein packages with apparent grade and thicknesses
    substantially greater than those in the current mineral resource model,
    including: 
    
    --  1.1 metres @ 66.7 g/t gold and 8 g/t silver (VNB, elevation of 1,504
        metres); 
    --  4.5 metres @ 6.2 g/t gold and 15 g/t silver (VNE, elevation of 1,491
        metres); and 
    --  34.7 metres @ 2.7 g/t gold and 10 g/t silver, including 0.5 metres @
        8.9 g/t gold and 18 g/t silver (MU2 and MU, elevations of 1,481
        metres and 1,468 metres, respectively). 

 
Otherwise, BUUY101 intersected veins with grades and thicknesses
generally consistent with the current mineral resource model until
terminating in the Yaragua South area with vein intersections outside
of the current mineral resource envelopes.  
"Step-out drilling along strike and at depth and surface sampling
continues to deliver encouraging results in the La Estera area,"
commented Ari Sussman, CEO. "Drilling at Yaragua continues to
increase the confidence level in the mineral resource estimate and
encounter mineralization outside of the current resource envelope. We
are excited that our exploration program has recently increased with
the addition of three new drill rigs as part of our Phase IV drill
program. Our aim is to continue to drill the Yaragua and Veta Sur
vein systems and to aggressively test the new exploration targets in
2013." 
Details 
Continental's 100%-owned, 57,588-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 op
en 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 vein
system and also results of additional drilling and near surface
sampling in the La Estera area to the south of the Yaragua and Veta
Sur vein systems. 
La Estera Area  
Significant new drill intercepts are listed below in Table I and are
referenced in Figures 1 and 2.  


 
Table I: Drilling Highlights, La Estera Area                                
                                                                            
----------------------------------------------------------------------------
                     From       To  Interval    Gold  Silver  Zinc Elevation
Drill-hole            (m)      (m)       (m)   (g/t)   (g/t)   (%)       (m)
----------------------------------------------------------------------------
BUSY323            314.50   316.00      1.50    1.16     2.6   0.0      1622
                   404.54   405.75      1.21    0.83    48.0   1.2      1545
                   427.78   428.30      0.52    0.15    90.5   0.3      1526
                   439.50   441.11      1.61    0.17    36.0   0.7      1516
BUSY330            162.20   167.45      5.25    2.08    30.2   4.5      1247
                   177.40   180.20      2.80    1.86    28.3   6.6      1234
                   203.55   216.50     12.95    3.77     9.8   0.9      1213
  incl.            203.55   204.50      0.95   13.40    21.4   2.5      1213
  and              212.00   213.00      1.00   10.83    11.3   2.7      1205
                   233.00   233.80      0.80    3.60    16.9   3.3      1188
                   240.50   250.00      9.50    2.67    24.0   0.6      1182
                   367.50   368.36      0.86    2.06     1.0   1.2      1080
                   459.00   459.75      0.75    2.31     6.2   1.5      1010
                   461.22   461.70      0.48    2.36     3.9   0.6      1008
                   476.00   476.46      0.46    1.38     0.8   0.2       997
                   526.00   526.40      0.40    5.05     5.0   0.0       961
                   551.00   552.00      1.00    1.20     2.3   0.0       943
BUSY332            546.35   547.60      1.25    0.95    23.5   0.7      1400
                   863.10   863.45      0.35    1.66    13.1   1.1      1101
                   902.60   904.35      1.75   36.71   181.7   0.6      1063
                   923.65   924.50      0.85    2.43    48.0   0.1      1044
                   928.99   929.80      0.81    3.66    17.8   0.1      1039
                   932.17   942.00      9.83   16.12    49.6   0.0      1036
  incl.            938.66   942.00      3.34   38.92   111.4   0.0      1031
  incl.            939.00   940.60      1.60   66.65   184.0   0.0      1031
                  1129.45  1130.60      1.15    2.37     8.3   0.0       850
                  1152.80  1153.30      0.50    1.00     0.5   0.0       828
BUSY333            467.00   467.30      0.30    3.33     6.1   1.4      1368
                   533.50   533.80      0.30   20.60    29.1   1.3      1313
                   537.87   538.50      0.63    2.91    10.1   0.0      1307
                   715.60   715.90      0.30    1.08     7.3   2.2      1156
                   743.20   743.50      0.30    1.35     4.0   2.4      1133
                   763.40   763.80      0.40    7.62    38.3   1.2      1116
                  1176.70  1177.10      0.40    1.20     3.2   1.0       784
BUSY334            176.80   177.60      0.80    1.20     3.3   0.0      1232
BUSY338            202.80   203.20      0.40    4.67    34.3   5.8      1591
(incomplete)       215.90   216.30      0.40    2.90    13.3   0.0      1580
                   221.00   221.40      0.40   18.15     7.0   0.0      1574
                   273.00   273.30      0.30    1.52    25.0   1.3      1528
                   281.70   282.00      0.30    4.77    15.3   0.5      1520
                   349.95   351.18      1.23   10.83    96.5   5.3      1459
  incl.            350.28   350.88      0.60   17.40   141.5   7.7      1459
                   352.60   354.70      2.10    4.17    68.8   2.2      1456
                   372.09   374.45      2.36    9.23   134.7   9.0      1439
  incl.            373.45   374.45      1.00   14.39   233.9  15.2      1438
----------------------------------------------------------------------------
(i)Intercepts calculated at 1 g/t gold + 30 g/t silver cut-off grades for   
minimum intervals of 0.3 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. Assay results for BUSY338 received thus far are only for intervals 
between 183.5 metres to 416.65 metres down-hole.                            

 
Four holes were drilled to clarify the distribution of mineralization
in the La Estera area. The most westerly of these is south-drilled
BUSY323, which intersected (from 314.5 to 441 metres down-hole, Table
I) several veins, mainly with relatively high silver/gold. These vein
sets are interpreted to represent extensions, at high elevations
(1,500-1,600 metres above sea-level), of the Veta Sur system, some
300 metres to the southwest of the current Veta Sur resource envelope
(Figure 1). Deep intersections (850 and 828 metres above sea-level)
with high gold/silver in north-drilled BUSY332 may also be extensions
of the Veta Sur system (Figure 2).  
BUSY332 encountered a high silver/gold vein at an elevation of 1,400
metres (Table I), extending the La Estrella vein system 50 metres to
the west of previous intersections, whereas BUSY333 intersected the
La Estrella system at an elevation of 784 metres above sea-level,
around 1,000 metres below surface mineralization in this system. The
La Estrella system remains open to the east.  
Further down-hole, BUSY332 intersected multiple veins in the Laurel
family, extending this vein system approximately 200 metres to the
west of previous drilling. High-grade intercepts include: 


 
--  1.75 metres @ 36.7 g/t gold and 182 g/t silver (from 902.6 metres down-
    hole, elevation of 1,063 metres); and 
--  9.83 metres @ 16.1 g/t gold and 50 g/t silver, including 3.34 metres @
    38.9 g/t gold and 111 g/t silver (from 932.17 metres down-hole,
    elevations of 1,036 metres). 

 
Both of these intercepts are sulphide-rich, the former exhibiting
moderate zinc and lead contents, the latter exhibiting low base-metal
values but abundant pyrrhotite plus pyrite, similar to other deep
intercepts at the Buritica project.  
BUSY333 and BUSY338 are interpreted to have intersected the Laurel
vein family 400-500 metres to the east of and at higher elevations
than in BUSY332, with high-grade intercepts including:   


 
--  0.3 metres @ 20.6 g/t gold and 29 g/t silver (BUSY333, from 533.50
    metres down-hole, elevation of 1,313 metres); 
--  0.4 metres @ 18.2 g/t gold and 7 g/t silver (BUSY338, from 221.0 metres
    down-hole, elevation of 1,574 metres); 
--  1.23 metres @ 10.8 g/t gold, 97 g/t silver and 5.3% zinc (BUSY338, from
    349.95 metres down-hole, elevation of 1,459 metres); and 
--  2.36 metres @ 9.2 g/t gold, 135 g/t silver and 9.0% zinc (BUSY338, from
    372.09 metres down-hole, elevation of 1,439 metres).

 
These drilling results are consistent with a lateral extent of the
Laurel vein family of more than 500 metres and vertical extents of
500-1,000 metres, open at depth and to the east and west.
Demonstration of the continuity of individual vein sets within the
Laurel vein family requires more closely spaced drilling and the vein
family appears to contain both circa east-west and north-south
striking gold-silver vein mineralization.  
Surface sampling in and nearby Rampa Sur, the decline advancing
towards the Veta Sur vein system, encountered previously unknown
gold-silver vein mineralization in the northeastern La Estera area
located south of the Yaragua vein system. Sampling highlights are
summarized in Table II (below) and referenced in Figures 1 and 2. 


 
Table II: Sampling Highlights, Rampa Sur and nearby surface results         
                                                                            
----------------------------------------------------------------------------
                             Width(i)                              Elevation
Location           SampleID       (m)  Au (g/t)  Ag (g/t)  Zn (%)        (m)
----------------------------------------------------------------------------
Surface              225984       1.5     13.85      4.72    0.04       1729
Surface              225985       1.0     0.535      3.46    0.06       1729
Rampa Sur            227703       1.2      0.86       212    0.10       1712
Rampa Sur            227783       0.8      0.78      62.4    2.11       1708
Rampa Sur            227786       0.7      0.23      48.5    0.02       1707
Rampa Sur            227796       1.0      7.91     12.05    8.52       1705
Rampa Sur            227799       0.7      1.83       128    0.43       1702
----------------------------------------------------------------------------
(i)Intercepts calculated at 1 g/t gold + 30 g/t silver cut-off grades for   
minimum intervals of 0.3 metres, with up to 30% internal dilution. Tabulated
widths approximate true widths.                                             

 
Vein sets exhibit both high and low gold/silver and are steeply
dipping with circa east-northeast and also north-northwest strikes.
The surrounding area is largely undrilled, but is geochemically
anomalous in gold, silver and zinc. Further work is required to
establish vein extents and continuity.  
In the southeastern La Estera area, BUSY330 intersected several broad
intervals of base metal-rich, gold-silver mineralization including: 


 
--  5.25 metres @ 2.1 g/t gold, 30 g/t silver and 4.5% zinc (from 162.2
    metres down-hole, elevation of 1,247 metres); 
--  12.95 metres @ 3.8 g/t gold and 10 g/t silver, including 0.95 metres @
    13.4 g/t gold, 21 g/t silver and 2.5% zinc (from 203.55 metres down-
    hole, elevation of 1,213 metres); and 
--  9.5 metres @ 2.7 g/t gold and 24 g/t silver (from 240.50 metres down-
    hole, elevation of 1,182 metres). 

 
These intercepts appear to exhibit both circa east-west and
north-south vein orientations and contribute further to the view that
the vicinity of the La Mano vein system may contain areas of
potentially bulk mineable mineralization.  
Assays of samples from narrow openings on an east-west trending,
high-grade vein in the La Mano vein family are tabulated below.
Together with BUSY319 (see December 13, 2012 news release), these
results confirm a minimum strike length of 150 metres for this vein,
which remains open laterally and at depth.  


 
Table III: La Mano near-surface vein samples                                
                                                                            
----------------------------------------------------------------------------
                             Width(i)                              Elevation
Location           SampleID       (m)  Au (g/t)  Ag (g/t)  Zn (%)        (m)
----------------------------------------------------------------------------
Surface                                                                     
La Mano              227552       0.1     15.65     254.0   17.30       1524
Surface                                                                     
La Mano              227716      0.15     25.20      27.4    2.71       1526
----------------------------------------------------------------------------
(i) Tabulated widths approximate true widths for veins.                     

 
Yaragua Vein System  
Significant new drill intercepts are listed below in Table IV and are
referenced in Figures 1 and 3. 


 
Table IV: Drilling Highlights, Yaragua Vein System                          
                                                                            
----------------------------------------------------------------------------
                     From       To  Interval    Gold  Silver  Zinc Elevation
Drill-hole            (m)      (m)       (m)   (g/t)   (g/t)   (%)       (m)
----------------------------------------------------------------------------
BUUY099             11.00    12.00      1.00    8.37     1.1   0.0      1377
                    13.00    14.00      1.00   34.60     3.7   0.0      1376
                    29.30    31.00      1.70    2.11   350.2   0.0      1369
                    38.00    40.00      2.00    1.79     2.0   0.0      1365
                    57.00    59.10      2.10    0.77    29.8   0.4      1356
                    75.30    76.00      0.70    0.56   105.2   0.4      1349
                    97.00    99.00      2.00    4.41     9.7   0.0      1339
                   125.00   126.00      1.00    2.22    61.9   0.2      1327
                   130.80   137.10      6.30    7.03    59.8   3.2      1325
  incl.            130.80   131.60      0.80   35.20   366.0   9.3      1325
                   138.50   141.00      2.50    1.32    41.8   0.2      1321
                   154.00   155.00      1.00    0.94    17.2   0.4      1315
                   170.50   171.00      0.50    9.71   273.0   0.8      1308
                   236.30   237.00      0.70   22.32   749.9   4.6      1279
BUUY100              4.50     6.00      1.50    1.36     0.9   0.1      1380
                    36.00    37.00      1.00    1.13    31.7   0.1      1359
                    46.00    48.00      2.00   12.47     9.3   1.6      1351
  incl.             47.00    48.00      1.00   22.90     1.7   0.0      1350
                   112.25   113.00      0.75    3.28     1.7   0.1      1307
                   118.00   119.00      1.00    3.83   101.7   1.2      1303
                   163.00   163.50      0.50    1.00     9.9   0.1      1273
                   208.50   212.00      3.50    3.37   110.2   0.2      1242
  incl             209.45   210.05      0.60   10.80   116.5   0.2      1242
BUUY101              0.80     1.90      1.10   66.73     7.9   0.6      1504
                     2.80    11.00      8.20    2.47     7.4   0.5      1503
                    17.00    18.00      1.00    3.91    14.7   2.3      1495
                    25.50    30.00      4.50    6.17    14.7   1.1      1491
                    45.35    80.05     34.70    2.65     9.9   1.2      1481
  incl              70.00    70.50      0.50    8.92    18.0   2.7      1468
                   119.10   119.40      0.30   27.60    31.2   4.9      1441
                   134.45   135.00      0.55    2.58    17.7   0.2      1433
                   146.00   147.50      1.50    1.59    58.2   0.3      1427
                   161.50   162.20      0.70    5.32     6.2   0.0      1419
                   163.70   164.90      1.20    2.03    78.7   0.3      1417
                   172.20   174.00      1.80    1.39     7.1   0.5      1413
                   199.30   199.70      0.40    3.82    81.4   0.2      1399
                   205.30   205.70      0.40    3.02   112.0   0.1      1396
                   211.00   213.00      2.00    1.25    15.2   0.4      1392
                   241.60   242.10      0.50    7.90     3.8   0.0      1377
                   264.70   265.80      1.10    2.62     5.3   0.0      1365
BUUY102              4.00     4.80      0.80    1.32     3.1   0.1      1378
                    54.40    54.70      0.30    2.67     1.5   0.5      1337
                   100.00   100.50      0.50    2.26     1.1   0.1      1301
                   111.40   111.70      0.30    5.41   161.0   1.2      1291
                   114.50   114.95      0.45    1.90     2.8   0.2      1288
                   120.65   121.60      0.95    2.35   121.6   0.2      1284
                   213.37   213.77      0.40    9.91    15.3   0.6      1210
                   216.00   217.00      1.00    7.06     5.9   0.2      1207
                   234.40   236.50      2.10    1.11    89.8   0.3      1192
                   242.90   243.70      0.80    7.81    15.7   0.4      1186
                   246.60   247.85      1.25    0.55    22.9   0.1      1185
                   254.08   254.38      0.30    0.19   166.0   0.0      1178
                   307.00   307.40      0.40    3.92    16.0   0.9      1136
                   405.80   406.20      0.40    0.46    78.5   0.2      1060
BUUY103              4.50     5.10      0.60    2.78     9.0   0.0      1378
                    92.00    92.50      0.50    3.84     1.4   0.2      1301
                   101.10   101.45      0.35    3.28     1.5   0.2      1293
                   103.00   104.40      1.40    1.19    14.9   0.1      1290
                   120.10   120.45      0.35    7.29   104.0   0.2      1276
                   128.25   128.65      0.40    1.52     4.5   0.0      1269
                   143.67   144.10      0.43    3.64    10.6   0.0      1256
                   208.90   209.42      0.52    1.25     0.3   0.0      1199
                   262.20   262.50      0.30    1.33     3.1   0.0      1153
                   275.50   275.90      0.40    0.51    74.4   0.4      1142
                   284.00   284.30      0.30    0.49    37.7   0.1      1134
                   303.20   303.60      0.40    3.07    31.8   1.8      1118
                   323.20   323.70      0.50    1.11     5.2   0.5      1101
                   409.30   409.70      0.40    0.89     9.3   1.7      1028
----------------------------------------------------------------------------
(i)Intercepts calculated at 1 g/t gold + 30 g/t silver cut-off grades for   
minimum intervals of 0.3 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.                                                                    

 
In eastern Yaragua, four drill-holes transected the central and
northern vein families. Intercepts to the north of the current
Yaragua mineral resource envelope include: 


 
--  6.3 metres @ 7.0 g/t gold and 60 g/t silver, including 0.80 metres @
    35.2 g/t gold, 366 g/t silver and 9.3% zinc (BUUY099, from 130.80 metres
    down-hole, elevation of 1,325 metres); 
--  0.7 metres @ 22.3 g/t gold, 750 g/t silver and 4.6% zinc (BUUY099, from
    236.30 metres down-hole, elevation of 1,279 metres); 
--  0.6 metres @ 10.8 g/t gold and 117 g/t silver (BUUY100, from 209.45
    metres down-hole, elevation of 1,242 metres); and 
--  1.0 metres @ 7.1 g/t gold and 6 g/t silver (BUUY102, from 216 metres
    down-hole, elevation of 1,207 metres). 

 
These and previous drilling results add further definition to
extensions of the Vein A, Vein AD and Vein D packages, the most
northerly in the Yaragua vein system. 
The eastern Yaragua drill-holes otherwise intersected veins with
grades and thicknesses generally consistent with the current mineral
resource model. Drill-hole intercepts exhibiting substantially
greater apparent thicknesses and/or higher grades than in the current
resource model include: 


 
--  1.0 metres @ 34.6 g/t gold and 4 g/t silver (BUUY099, PRE vein,
    elevation of 1,376 metres); 
--  1.7 metres @ 2.1 g/t gold and 350 g/t silver, (BUUY099, VNC, elevation
    of 1,369 metres); and 
--  2.0 metres @ 12.5 g/t gold and 9 g/t silver (BUUY100, HWV, elevation of
    1,351 metres). 

 
BUUY101, drilled southwards through the central and southern Yaragua
vein families into Yaragua South, encountered intercepts in the VNB,
VNE and Murcielagos vein packages with apparent grade and thicknesses
substantially greater than those in the current mineral resource
model, including: 


 
--  1.1 metres @ 66.7 g/t gold and 8 g/t silver (VNB package, elevation of
    1,504 metres); 
--  8.2 metres @ 2.5 g/t and 7 g/t silver (VNB package, elevation of 1,503
    metres); 
--  4.5 metres @ 6.2 g/t gold and 15 g/t silver (VNE, elevation of 1,491
    metres); and 
--  34.7 metres @ 2.7 g/t gold and 10 g/t silver, including 0.5 metres @ 8.9
    g/t gold and 18 g/t silver (MU2 and MU, elevation of 1,481 metres and
    1,468 metres, respectively). 

 
Otherwise, BUUY101 intersected veins with grades and thicknesses
generally consistent with the current mineral resource model. The
drill-hole terminated in the Yaragua South area with vein
intersections at 1,377 metres (0.5 metres @ 7.9 g/t gold and 4 g/t
silver) and also 1,365 metres above sea-level, outside of the Yaragua
and Veta Sur mineral resource envelopes. 
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 1
00%-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. A Phase IV drill program
is underway at the Buritica project to further delineate the mineral
resource and drill new target zones identified within its
concessions. 
An animation video providing an overview of the Buritica project and
the exploration potential is available in the following link:
http://bit.ly/Z6HBh9. Please note that any future production decision
will be based on the positive outcome of a pre-feasibility study in
2014. 
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 differ 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/CNL_Fig1_040313.pdf. 
To view Figure 2 - Long Section of the La Estera Area and Yaragua
Vein System, Showing New Drilling Highlights, Near-Surface Sampling
Results and Interpreted Vein Families, please visit the following
link: http://media3.marketwire.com/docs/CNL_Fig2_040313.pdf. 
To view Figure 3 - Long Section of the Yaragua Vein System, Showing
New Drilling Highlights, Against the October 2012 Mineral Resource
Envelope, please visit the following link:
http://media3.marketwire.com/docs/CNL_Fig3_040313.pdf.
Contacts:
Continental Gold Limited
Nisha Hasan
Director, Investor Relations
+1.416.583.5611
info@continentalgold.com
www.continentalgold.com
 
 
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