Continental Gold Drills 6.9 Metres @ 97.8 g/t Gold and 238 g/t Silver in the Yaragua System at Buritica, Colombia

TORONTO, ONTARIO--(Marketwired - June 9, 2014) - Editors note: There are three graphics associated with this press release.

Continental Gold Limited (TSX:CNL)(OTCQX:CGOOF) ("Continental" or the "Company") is pleased to announce results for 27 diamond drill-holes from the Yaraguá vein system at the Company's 100%-owned Buriticá project in Antioquia, Colombia. Drilling will continue throughout 2014 with the goal of upgrading Inferred resources located at the elevation of the Higabra Valley Tunnel into the measured and indicated categories while simultaneously delivering robust overall mineral resource growth.

Highlights (referenced in Figures 1, 2 and 3)

• All 27 drill-holes were successful in infilling the May 2014 Yaraguá mineral resource envelope over a lateral extent of 600 metres and a vertical range of up to 600 metres. Nine of these drill-holes also extended the vein system, which remains open to the north, south, west and at depth.
   
• In eastern Yaraguá, drilling across all of the vein families commonly encountered vein grades X thicknesses significantly better than expected from the May 2014 Yaraguá mineral resource block model. Related intercepts and veins include:
  • 6.9 metres @ 97.8 g/t gold and 238 g/t silver (BUUY210, CNT, elevation of 1,404 metres);
  • 0.5 metres @ 72.3 g/t gold and 11 g/t silver (BUUY210, VND, elevation of 1,476 metres);
  • 2.2 metres @ 46 g/t gold and 71 g/t silver (BUUY210, SA, elevation of 1,418 metres);
  • 2.0 metres @ 12.7 g/t gold and 4 g/t silver (BUUY226, VNAD, elevation of 1,489 metres);
  • 2.1 metres @ 100.7 g/t gold and 53 g/t silver (BUUY226, FWV, elevation of 1,452 metres);
  • 1.0 metres @ 34.9 g/t gold and 35 g/t silver (BUUY226, HWV, elevation of 1,402 metres);
  • 0.5 metres @ 55.9 g/t gold and 5 g/t silver (BUUY226, MU3, elevation of 1,297 metres);
  • 1.15 metres @ 39.2 g/t gold and 27 g/t silver (BUUY254, CNT, elevation of 1,423 metres);
  • 5.5 metres @ 10.3 g/t gold and 25 g/t silver, including 1.7 metres @ 23.6 g/t gold and 49 g/t silver (BUUY254, MU4, elevation of 1,271 metres);
  • 5.4 metres @ 14.9 g/t gold and 62 g/t silver (BUUY254, MU, elevation of 1,204 metres);
  • 2.1 metres @ 40.1 g/t gold and 59 g/t silver, including 1.1 metres @ 72.5 g/t gold and 13 g/t silver (BUUY259, VNAD, elevation of 1,492 metres);
  • 2.8 metres @ 34.4 g/t gold and 194 g/t silver, including 1.3 metres @ 68.9 g/t gold and 337 g/t silver (BUUY259, HWV, elevation of 1,429 metres);
  • 4.7 metres @ 25.5 g/t gold and 54 g/t silver, including 1.2 metres @ 85.1 g/t gold and 189 g/t silver (BUUY259, SOF, elevation of 1,415 metres);
  • 2.0 metres @ 40.1 g/t gold and 24 g/t silver, including 1.0 metres @ 75.8 g/t gold and 16 g/t silver (BUUY259, VNC, elevation of 1,386 metres);
  • 0.5 metres @ 34.4 g/t gold and 810 g/t silver (BUUY259, MU11, elevation of 1,255 metres);
  • 0.55 metres @ 28.7 g/t gold and 37 g/t silver (BUUY259, MUS1, elevation of 1,185 metres); and
  • 0.5 metres @ 9.2 g/t gold and 932 g/t silver (BUUY238, N23, elevation of 1,321 metres).
     
• In western Yaraguá, drilling through most of the vein families commonly encountered vein grades X thicknesses significantly above those expected from the current mineral resource block model. Related intercepts and veins include:
  • 2.0 metres @ 22.0 g/t gold and 11 g/t silver (BUUY223, MU, elevation of 1,447 metres);
  • 4.2 metres @ 11.0 g/t gold and 47 g/t silver (BUUY223, PRE, elevation of 1,321 metres);
  • 2.2 metres @ 4.8 g/t gold and 1,124 g/t silver (BUUY223, SA, elevation of 1,068 metres);
  • 2.15 metres @ 161.2 g/t gold and 14 g/t silver (BUUY232, MU5, elevation of 1,435 metres);
  • 1.9 metres @ 13.6 g/t gold and 51 g/t silver (BUUY232, SA, elevation of 1,231 metres);
  • 1.5 metres @ 14.3 g/t gold and 5 g/t silver (BUUY240, VNE, elevation of 1,441 metres);
  • 0.9 metres @ 16.5 g/t gold and 12 g/t silver (BUUY250, PRE, elevation of 1,456 metres);
  • 1.1 metres @ 15.8 g/t gold and 5 g/t silver (BUUY255, MU5, elevation of 1,440 metres);
  • 1.6 metres @ 9.6 g/t gold and 7 g/t silver (BUUY255, VNBC, elevation of 1,362 metres);
  • 1.5 metres @ 7.6 g/t gold and 1,009 g/t silver (BUUY255, HWV, elevation of 1,268 metres);
  • 0.5 metres @ 39.4 g/t gold and 167 g/t silver (BUUY255, SA, elevation of 1,243 metres);
  • 0.5 metres @ 37.3 g/t gold and 128 g/t silver (BUUY255, N24, elevation of 1,091 metres);
  • 9.9 metres @ 9.1 g/t gold and 6 g/t silver, including 3.4 metres @ 16.8 g/t gold and 8 g/t silver (BUUY266, MU4, elevation of 1,467 metres);
  • 0.55 metres @ 122.0 g/t gold and 75 g/t silver (BUUY266, VNC2, elevation of 1,407 metres); and
  • 1.0 metres @ 11.7 g/t gold and 122 g/t silver (BUUY266, VNAD, elevation of 1,339 metres).
     
• A series of short, horizontal holes were drilled from the underground mine in central Yaraguá with a primary aim of infilling between the major vein packages. These drill-holes generally confirmed the existence of lower grade material between the main veins but also commonly demonstrated higher grades in the veins than for comparable areas in the current Yaraguá block model. Significant intercepts (approximately true widths) and related veins include:
  • 0.5 metres @ 30.0 g/t gold and 52 g/t silver (BUUY224, FWV elevation of 1,506 metres);
  • 0.5 metres @ 188.0 g/t gold and 42 g/t silver (BUUY224, NWSE, elevation of 1,506 metres);
  • 1.1 metres @ 10.2 g/t gold and 5 g/t silver (BUUY231, VNC2, elevation of 1,506 metres);
  • 0.5 metres @ 21.4 g/t gold and 20 g/t silver (BUUY248, VNC, elevation of 1,501 metres);
  • 0.5 metres @ 22.9 g/t gold and 21 g/t silver (BUUY252, VNE, elevation of 1,502 metres);
  • 1.5 metres @ 7.9 g/t gold and 5 g/t silver (BUUY257, VND, elevation of 1,443 metres);
  • 1.8 metres @ 19.5 g/t gold and 11 g/t silver (BUUY257, VNAD, elevation of 1,442 metres);
  • 0.5 metres @ 50.8 g/t gold and 45 g/t silver (BUUY257, N15, elevation of 1,441 metres);
  • 1.25 metres @ 12.7 g/t gold and 63 g/t silver (BUUY257, VNAD, elevation of 1,444 metres);
  • 0.5 metres @ 139.0 g/t gold and 41 g/t silver (BUUY262, VNBC, elevation of 1,444 metres); and
  • 1.7 metres @ 7.9 g/t gold and 5 g/t silver (BUUY265, VNAD, elevation of 1,444 metres).
     
• All of the above and other significant intercepts will either extend or consolidate higher grade sub-domains within most of the Yaraguá veins in eastern, central and western Yaraguá. The higher grade sub-domains occur in coherent packages across several vein families (see Figure 3, for western Yaraguá), constituting favourable scenarios for future underground development.
   
• Drillholes in eastern and western Yaraguá intersected veins outside of the current mineral resource model. In eastern Yaraguá, significant intercepts below the current mineral resource envelope include:
  • 0.5 metres @ 21.1 g/t gold and 86 g/t silver (BUUY226, elevation of 1,123 metres); and
  • 1.1 metres @ 5.3 g/t gold and 11 g/t silver (BUUY259, elevation of 1,075 metres).
     
• Significant intercepts to the north of the mineral resource envelope include:
  • 0.77 metres @ 8.5 g/t gold and 4 g/t silver (BUUY238, elevation of 1,242 metres; eastern Yaraguá); and
  • 2.1 metres @ 15.7 g/t gold and 90 g/t silver (BUUY266, elevation of 1,238 metres; western Yaraguá).

"I am most pleased that our 60,000-metre drill program for 2014 is yielding robust precious metal intercepts that for the most part, either correlate well to - or are better than - the related grades projected in specific areas of our latest mineral resource estimate," commented Ari Sussman, CEO of Continental.

Details

Continental's 100%-owned, 59,095-hectare project, Buriticá, 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 Yaraguá and Veta Sur systems) are central to this land package. The Yaraguá system has been drill-outlined along 1,100 metres of strike and 1,300 vertical metres and partially sampled in underground developments. The Veta Sur system has been drill-outlined along 1,100 metres of strike and 1,400 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 précis of updated mineral resource estimates for the Buriticá project prepared in accordance with NI 43-101. This release documents the results of mainly infill drilling (completed after the December 31, 2013 closure of the database for the May 2014 mineral resource estimate) through broad extents of the Yaraguá system. Significant new drill intercepts are listed below in Table I and are referenced in Figures 1, 2 and 3.

Table I: Drilling Highlights

* Intercepts calculated at 1 g/t gold + 50 g/t silver cut-off grades for minimum intervals of 0.5 metres, with up to 30% internal dilution. True widths not accurately known but generally are between 30% of the down-hole interval and near true width (e.g. BUUY224, BUUY230, BUUY231, BUUY235, BUUY237, BUUY248, BUUY252, BUUY256, BUUY257, BUUY262 and BUUY265). Drill-holes designated "BUUY" were collared from underground.

Seven holes (BUUY210, BUUY221, BUUY226, BUUY230, BUUY254, BUUY259 and BUUY263) were south-drilled in eastern Yaraguá to transect and infill most of the vein system in this area (Figure 1). This infill drilling (Table 1) of a previously sparsely-tested area generally encountered vein grades and thicknesses comparable with those of the May 2014 Yaraguá mineral resource block model. However, for several of the vein families, grade X thicknesses were significantly higher than expected from the block model (Figure 3). Related intercepts and veins include:

• 6.9 metres @ 97.8 g/t gold and 238 g/t silver including 2.85 metres @ 222.3 g/t gold and 524 g/t silver (BUUY210, CNT, elevation of 1,404 metres);
• 0.5 metres @ 72.3 g/t gold and 11 g/t silver (BUUY210, VND, elevation of 1,476 metres);
• 2.2 metres @ 46.0 g/t gold and 71 g/t silver including 1.1 metres @ 88.9 g/t gold and 112 g/t silver (BUUY210, SA, elevation of 1,418 metres);
• 2.0 metres @ 12.7 g/t gold and 4 g/t silver (BUUY226, VNAD, elevation of 1,489 metres);
• 2.1 metres @ 100.7 g/t gold and 53 g/t silver (BUUY226, FWV, elevation of 1,452 metres);
• 1.0 metres @ 34.9 g/t gold and 35 g/t silver (BUUY226, HWV, elevation of 1,402 metres);
• 0.5 metres @ 55.9 g/t gold and 5 g/t silver (BUUY226, MU3, elevation of 1,297 metres);
• 4.2 metres @ 11.1 g/t gold and 39 g/t silver including 2.0 metres @ 20.1 g/t gold and 69 g/t silver (BUUY226, MU4, elevation of 1,288 metres);
• 1.2 metres @ 15.7 g/t gold and 16 g/t silver (BUUY254, FWV, elevation of 1,449 metres);
• 1.15 metres @ 39.2 g/t gold and 27 g/t silver (BUUY254, CNT, elevation of 1,423 metres);
• 5.5 metres @ 10.3 g/t gold and 25 g/t silver, including 1.7 metres @ 23.6 g/t gold and 49 g/t silver (BUUY254, MU4, elevation of 1,271 metres);
• 5.4 metres @ 14.9 g/t gold and 62 g/t silver (BUUY254, MU, elevation of 1,204 metres);
• 2.1 metres @ 40.1 g/t gold and 59 g/t silver, including 1.1 metres @ 72.5 g/t gold and 13 g/t silver (BUUY259, VNAD, elevation of 1,492 metres);
• 2.8 metres @ 34.4 g/t gold and 194 g/t silver, including 1.3 metres @ 68.9 g/t gold and 337 g/t silver (BUUY259, HWV, elevation of 1,429 metres);
• 4.7 metres @ 25.5 g/t gold and 54 g/t silver, including 1.2 metres @ 85.1 g/t gold and 189 g/t silver (BUUY259, SOF, elevation of 1,415 metres);
• 2.0 metres @ 40.1 g/t gold and 24 g/t silver, including 1.0 metres @ 75.8 g/t gold and 16 g/t silver (BUUY259, VNC, elevation of 1,386 metres);
• 0.5 metres @ 34.4 g/t gold and 810 g/t silver (BUUY259, MU11, elevation of 1,255 metres);
• 0.55 metres @ 28.7 g/t gold and 37 g/t silver (BUUY259, MUS1, elevation of 1,185 metres); and
• 0.5 metres @ 9.2 g/t gold and 932 g/t silver (BUUY238, N23, elevation of 1,321 metres).

Intersections in BUUY210 (from 503 metres down-hole), BUUY226 (from 421.8 metres downhole, including 0.5 metres @ 21.2 g/t gold and 86 g/t silver), BUUY254 (from 437.66 metres down-hole, including 0.62 metres @ 5.1 g/t gold and 14 g/t silver) and BUUY259 (from 516.5 metres downhole, including 1.1 metres @ 5.3 g/t gold and 10 g/t silver) are below the current mineral resource envelope and represent extensions of Murcielagos South vein families down to elevations of 1,100 to 1,000 metres.

Northernly-angled drilled holes (BUUY233, BUUY238, BUUY244 and BUUY251) examined the northern-most vein families in Yaraguá east into the San Agustin area (Figure 1). Intercepts within the current mineral resource envelope encountered vein grades and thicknesses similar to those in the Yaraguá block model, however, BUUY238 intersected vein N38 at considerably higher precious metal grades (0.5 metres @ 9.2 g/t gold and 932 g/t silver, elevation of 1,321 metres) than in the block model. Intersections in BUUY233 (from 254.2 metres down-hole), BUUY238 (from 275.2 metres down-hole, including 0.77 metres @ 8.5 g/t gold and 4 g/t silver, elevation of 1,242 metres), BUUY244 (from 164.15 metres down-hole) and BUUY251 (from 257.0 metres down-hole, including 3.05 metres @ 5.2 g/t gold and 3 g/t silver, elevation of 1,296 metres) are to the north of the current mineral resource envelope.

A series of short horizontal holes (BUUY224, BUUY231, BUUY235, BUUY237, BUUY248, BUUY252, BUUY256, BUUY257, BUUY262 and BUUY265) were drilled from underground mine openings in central Yaraguá primarily aimed at infilling between the major vein packages. These drillholes generally confirmed the existence of lower-grade material between the main veins but also commonly demonstrated higher grades in these veins than for comparable areas in the current Yaraguá mineral resource block model. Significant intercepts (approximately true widths) and related veins include:

• 0.5 metres @ 30.0 g/t gold and 52 g/t silver (BUUY224, FWV, elevation of 1,506 metres);
• 0.5 metres @ 188.0 g/t gold and 42 g/t silver (BUUY224, NWSE, elevation of 1,506 metres);
• 1.1 metres @ 10.2 g/t gold and 5 g/t silver (BUUY231, VNC2, elevation of 1,506 metres);
• 0.5 metres @ 21.4 g/t gold and 20 g/t silver (BUUY248, VNC, elevation of 1,501 metres);
• 0.5 metres @ 22.9 g/t gold and 21 g/t silver (BUUY252, VNE, elevation of 1,502 metres);
• 1.5 metres @ 7.9 g/t gold and 5 g/t silver (BUUY257, VND, elevation of 1,443 metres);
• 1.8 metres @ 19.5 g/t gold and 11 g/t silver (BUUY257, VNAD, elevation of 1,442 metres);
• 0.5 metres @ 50.8 g/t gold and 45 g/t silver (BUUY257, N15, elevation of 1,441 metres);
• 3.35 metres @ 5.4 g/t gold and 26 g/t silver, including 1.25 metres @ 12.7 g/t gold and 63 g/t silver (BUUY257, VNAD, elevation of 1,444 metres);
• 0.5 metres @ 139.0 g/t gold and 41 g/t silver (BUUY262, VNBC, elevation of 1,444 metres); and
• 1.7 metres @ 7.9 g/t gold and 5 g/t silver (BUUY265, VNAD, elevation of 1,444 metres).

Six holes (BUUY223, BUUY232, BUUY240, BUUY250, BUUY255, and BUUY266) were northwest-drilled into western Yaraguá to transect and infill most of the vein system in this area (Figure 1). This infill (Table 1), of a previously sparsely-drilled area, generally encountered vein grades and thicknesses comparable with those of the May 2014 Yaraguá mineral resource block model. However, for several of the vein families, grade X thicknesses were significantly higher than expected from the block model. Related intercepts and veins include:

• 2.0 metres @ 22.0 g/t gold and 11 g/t silver (BUUY223, MU, elevation of 1,447 metres);
• 4.2 metres @ 11.0 g/t gold and 47 g/t silver (BUUY223, PRE, elevation of 1,321 metres);
• 2.2 metres @ 4.8 g/t gold and 1,124 g/t silver (BUUY223, SA, elevation of 1,068 metres);
• 2.15 metres @ 161.2 g/t gold and 14 g/t silver (BUUY232, MU5, elevation of 1,435 metres);
• 9.25 metres @ 4.9 g/t gold and 15 g/t silver, including 1.9 metres @ 13.6 g/t gold and 51 g/t silver (BUUY232, SA, elevation of 1,231 metres);
• 1.5 metres @ 14.3 g/t gold and 5 g/t silver (BUUY240, VNE, elevation of 1,441 metres);
• 0.9 metres @ 16.5 g/t gold and 12 g/t silver (BUUY250, PRE, elevation of 1,456 metres);
• 1.1 metres @ 15.8 g/t gold and 5 g/t silver (BUUY255, MU5, elevation of 1,440 metres);
• 1.6 metres @ 9.6 g/t gold and 7 g/t silver (BUUY255, VNBC, elevation of 1,362 metres);
• 1.5 metres @ 7.6 g/t gold and 1,009 g/t silver, including 0.5 metres @ 39.4 g/t gold and 167 g/t silver (BUUY255, HWV, elevation of 1,268 metres);
• 0.5 metres @ 39.4 g/t gold and 167 g/t silver (BUUY255, SA, elevation of 1,243 metres);
• 0.5 metres @ 37.3 g/t gold and 128 g/t silver (BUUY255, N24, elevation of 1,091 metres);
• 9.9 metres @ 9.1 g/t gold and 6 g/t silver, including 3.4 metres @ 16.8 g/t gold and 8 g/t silver (BUUY266, MU4, elevation of 1,467 metres);
• 0.55 metres @ 122.0 g/t gold and 75 g/t silver (BUUY266, VNC2, elevation of 1,407 metres); and
• 1.0 metres @ 11.7 g/t gold and 122 g/t silver (BUUY266, VNAD, elevation of 1,339 metres).

BUUY266 (from 423 metres down-hole) intersected a high grade vein (2.1 metres @ 15.7 g/t gold and 90 g/t silver, elevation of 1,238 metres) outside of the current Yaraguá mineral resource envelope.

All of the above and other significant intercepts will either extend or consolidate higher grade sub-domains within most of the Yaraguá veins in eastern, central and western Yaraguá. The higher grade sub-domains occur in coherent packages across several vein families (for example, Figure 3, for western Yaraguá) constituting favourable scenarios for future underground development.

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. HQ core is sawn or split with one-half shipped to a sample preparation lab in Medellín run by ALS Colombia Limited ("ALS") in Colombia, whereas BQ core samples are full core. 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 significant assay results are publicly reported. A complete listing of assay results to date for the Buriticá project is available on the Company's website at www.continentalgold.com.

For additional technical information on the Buriticá project, please refer to the Company's technical report (the "Technical Report") entitled "2012 Mineral Resource Estimate of the Buriticá 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 (to be superseded), 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 Buriticá gold project to production. On May 13, 2014, the Company announced an updated mineral resource estimate for the Buriticá project prepared in accordance with NI 43-101. This estimate covers the Yaraguá and Veta Sur vein systems, with a combined Measured mineral resource of 0.99 million tonnes of mineralized material containing 0.65 million ounces of gold grading 20.4 g/t gold, 1.54 million ounces of silver grading 48 g/t silver, and 15.0 million pounds of zinc grading 0.7% zinc, and a combined Indicated mineral resource of 7.41 million tonnes of mineralized material containing 2.15 million ounces of gold grading 9.0 g/t gold, 6.89 million ounces of silver grading 29 g/t silver, and 75.1 million pounds of zinc grading 0.5% zinc. The combined Inferred mineral resource is 16.7 million tonnes of mineralized material containing 4.2 million ounces grading 7.8 g/t gold, 13.1 million ounces of silver grading 24 g/t silver and 111 million pounds of zinc grading 0.3% 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 achieved major advances with the access tunnel, which is providing access for underground drilling and will eventually be used for commercial production. A Phase V drill program is underway at the Buriticá project to further delineate the mineral resources and drill new target zones identified within its concessions.

Additional details on the Buriticá 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, and exploration and mine development plans, 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. 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 highlights of new drilling, please visit the following link:
http://www.marketwire.com/library/20140609-950839-F1g.jpg.

To view Figure 2 - Long Section, Yaraguá, please visit the following link:
http://www.marketwire.com/library/20140609-950839-F2g.jpg

To view Figure 3 - Cross Section, western Yaraguá, please visit the following link:
http://www.marketwire.com/library/20140609-950839-F3g.jpg

Continental Gold Limited
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