EXHIBIT 99
PRESS RELEASE DATED NOVEMBER 28, 2006
EXHIBIT 99
Continental Minerals Corporation Great China Mining Inc.
1020 - 800 West Pender Street (formerly China NetTV Holdings Inc.)
Vancouver, BC World Trade Centre
Canada V6C 2V6 Suite 536-999 Canada Place
Tel 604 684 6365 Vancouver, BC V6C 3E2
Fax 604 684 8092 Tel 604 641 1366
Toll Free 1 800 667 2114 Fax 604 641 1377
www.continentalminerals.com www.greatchinamining.com
NEW COPPER-GOLD DISCOVERY AT XIETONGMEN
Drilling intersects 302 meters grading 0.82% CuEQ
November 28, 2006, Vancouver, BC - Continental Minerals Ltd. ("Continental")
(TSX Venture: KMK; OTCBB: KMKCF) and Great China Mining Inc. ("Great China
Mining") (OTCBB-GCHA) announce that drilling of exploration targets has resulted
in the discovery of a new copper-gold deposit at the Xietongmen property. The
Xietongmen property is located 240 kilometers from the city of Lhasa in Tibet,
People's Republic of China.
A drill discovery, indicating potential for new high-grade porphyry copper-gold
deposit, has been made in two holes in the Newtongmen area. Newtongmen is
located 3 km northwest of the Xietongmen deposit. The Newtongmen discovery is
hosted by the same alteration zone as the Xietongmen deposit and lies within a
high copper-gold anomaly, 1.5 square kilometers in area, outlined during a rock
chip sampling program completed earlier this year.
Long intervals of strong copper and gold grades were intersected in both holes,
which are spaced about 100 meters apart. Hole 6213N intersected 302.2 meters
grading 0.82% CuEQ, including an 85.0-meter interval of 1.25% CuEQ and a
43.0-meter interval grading 1.39% CuEQ. Hole 6203N intersected 210.6 meters
grading 0.82% copper equivalent (CuEQ).
Newtongmen has the potential to add substantially to the resource base on the
Xietongmen property. An aggressive multi rig drilling program is planned to
commence in April 2007 to delineate this new discovery.
Most of the other holes from this series are from the Langtongmen copper-gold
zone, located 1.5 kilometers along strike to the northwest of the Xietongmen
deposit. Langtongmen is defined by coincident copper and gold anomalies from
rock chip samples. Exploration hole 5057 drilled near the anomalous area in 2005
returned a 135.5 meter interval grading 0.28% copper and 0.31 g/t gold. The 2006
holes at Langtongmen are spaced at 100 to 300 meter intervals over an area of
approximately 1.5 square kilometers. These holes intersected multiple intervals,
ranging from 12 to 131 meters in length, of anomalous copper and gold assays.
Highlights include hole 6185L that intersected 43.4 meters grading 0.41% CuEQ
and hole 6205L that intersected 130.9 meters grading 0.39% CuEQ.
A five kilometer long northwest trending corridor has been outlined on the
property, extending from the Xietongmen deposit in the southeast to the
Newtongmen zone in the northwest. A Property Location Map and maps showing the
current drill holes in relation to copper and gold anomalies in the Xietongmen,
Langtongmen and Newtongmen areas are posted on the website at
www.continentalminerals.com and www.greatchinamining.com. A cross section of the
Newtongmen discovery, showing the two discovery drill holes, is also provided.
The 2006 detailed drilling program at the Xietongmen deposit was completed in
September. The program successfully expanded the substantial copper-gold deposit
in all directions. The results from the final hole, number 6201, drilled on the
northeastern perimeter of the Xietongmen deposit are also shown in the attached
table and on an updated drill plan. Engineering, environmental and socioeconomic
studies for the Xietongmen feasibility study and environmental and social impact
assessments continue, as well as community and stakeholder engagement activities
at site.
Steps required to complete the merger between Continental and Great China
Mining, and unify 100% ownership in the Xietongmen property in Continental (see
joint news release of June 12, 2006), are also proceeding. The merger is
expected to be finalized in the fourth quarter of 2006, or shortly thereafter.
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") programs 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.
Gerald Panneton
President & CEO
Continental Minerals Corporation
For further information:
Continental Minerals Corporation Great China Mining Inc.
Tel 604 684 6365 Tel 604 641 1366
Toll Free 1 800 667 2114 www.greatchinamining.com
www.continentalminerals.com
No regulatory authority has approved or disapproved
the information contained in this news release.
The TSX Venture Exchange has neither approved nor disapproved
the information contained in this 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, continuity of
mineralization, exploration drilling, exploitation activities and events or
developments that the companies expect are forward-looking statements. Although
the companies believe that 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 form those in the forward looking statements. The likelihood of
future mining at Xietongmen is subject to a large number of risks, including
changes in and the effect of laws, regulations and government policies affecting
mining and natural resource exploration and exploitation and will require
achievement of a number of technical, economic and legal objectives, including
obtaining necessary mining and construction permits, completion of
pre-feasibility and final feasibility studies, preparation of all necessary
engineering for underground workings and processing facilities as well as
receipt of significant additional financing to fund these objectives as well as
funding mine construction. Such funding may not be available to the companies on
acceptable terms or on any terms at all. There is no known ore at Xietongmen and
there is no assurance that the mineralization at Xietongmen will ever be
classified as ore.
For more information on Continental Minerals Corporation, Investors should
review the Company's annual Form 20-F filing with the United States Securities
and Commission at www.sec.gov and its home jurisdiction filings that are
available at www.sedar.com.
For more information on Great China Mining Inc., Investors should review the
Company's annual report on Form with the United States Securities Commission at
www.sec.gov.