Ronald W. Thiessen, President and CEO of Continental Minerals Corporation
(TSX.V-KMK; OTC.BB-KMKCF) and Anthony Garson, President and CEO of China NetTV
Holdings Inc. (OTC.BB-CTVH) are pleased to announce that ongoing core drilling
continues to intersect long intervals of high-grade copper and gold
mineralization at the Xietongmen project, located 240 kilometres southwest of
Lhasa in Tibet, People's Republic of China.
Through a venture with China NetTV, Continental can earn a 60% interest in the
Xietongmen property by making payments and project expenditures of US$10 million
prior to November 9, 2007. Continental is the operator of the exploration
programs on the property. The Xietongmen property hosts porphyry-like copper and
gold mineralization within a four kilometre long alteration zone. Six drill rigs
are on site and systematically delineating the new deposit discovery which is
open to expansion in all lateral directions.
New results from drill holes numbered 5015, 5016 and 5018 are reported below.
Assay results continue to show strong continuity of mineralization. A Property
Location Map, a Drill Hole Plan and Cross Sections are posted on the partners'
websites at www.continentalminerals.com & www.ctvh-holdings.com.
XIETONGMEN ASSAY TABLE
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Drill From To (metres) Intercept Intercept Cu1 Au1 CuEQ2 AuEQ2
Hole (metres) (metres) (feet) % g/t % g/t
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5015 48.3 363.9 315.6 1035 0.61 1.11 1.26 2.16
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5015 Incl. 182.0 232.0 50.0 164 0.79 1.49 1.65 2.84
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5015 Incl. 253.3 344.0 90.7 298 0.62 1.53 1.51 2.59
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5016 87.0 339.0 252.0 827 0.55 0.79 1.01 1.73
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5017 Assays Pending
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5018 12.0 208.0 196.0 643 0.59 0.81 1.06 1.82
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5018 Incl. 22.0 167.0 145.0 476 0.63 0.84 1.12 1.91
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1 Copper capped at 5%, gold capped at 10 g/t for all calculations.
2 Copper and gold equivalent calculations use metal prices of US$1.00/lb for
copper and US$400/oz for gold.
Adjustment factors to account for differences in relative metallurgical
recoveries for gold and copper will depend upon the completion of definitive
metallurgical testing.
CuEQ = Cu % + (Au g/t x 12.86/22.046)
AuEQ = (Cu % x 22.046/12.86) + Au g/t
As part of its commitment to responsible mineral development, the
Continental/China NetTV venture has initiated a community engagement program.
Active dialogue with the local residents in the Tibetan villages and the various
authorities in the region will be ongoing in order that the project proceeds in
a manner that respects local socio-economic priorities and provides benefits
within the region as well as incorporating a high standard of environmental
management.
-2-
Infrastructure for the project site includes a paved highway and a hydroelectric
transmission line that pass near to the southern boundary of the property. The
highway provides access to the city of Xigaze (population 130,000),
approximately 53 kilometres to the east, where fuel, food, lodging and office
facilities are available. Other supplies, heavy equipment, equipment operators
and vehicles are readily obtainable in Lhasa.
Mark Rebagliati, P.Eng., a Qualified Person as defined under National Instrument
43-101, is supervising the drilling program and quality assurance and quality
control ("QAQC") on behalf of Continental Minerals Corporation. The program
includes rigorous QAQC procedures. Acme Analytical Laboratories of Vancouver,
BC, an ISO 9001:2000 accredited laboratory, performs the sample preparation and
assaying for the project. Gold analysis is by 30 g Fire Assay fusion with an
Inductively Coupled Plasma-Emission Spectroscopy (ICP-ES) finish. Copper assays
are done by four acid digestion with an ICP-ES finish. Continental includes
standards, blanks and duplicates in addition to the laboratory's internal
quality control work.
For further information:
Continental Minerals Corporation China NetTV Holdings Inc.
Tel: 604 684o 6365 Tel: 604 641 1366
Toll Free 1 800 667 2114 www.ctvh-holdings.com
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www.continentalminerals.com
No regulatory authority has approved or disapproved the
information contained in this news release.
This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that the companies expect are
forward-looking statements. Although the companies believe the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements.
For more information on Continental Minerals Corporation, Investors should
review the Company's annual Form 20-F filing with the United States Securities
Commission and its home jurisdiction filings that are available at
www.sedar.com.
For more information on China NetTV Holdings Inc., Investors should review the
Company's annual Form with the United States Securities Commission at
www.sec.gov.