Reclamation Report for Continental's Xietongmen Project Approved
August 18 2008 - 9:00AM
Marketwired
Continental Minerals Corporation ("Continental" or the "Company")
(TSX VENTURE: KMK)(OTCBB: KMKCF) announces agency approval has been
received for the Land Reclamation Report for the Xietongmen Project
in the Tibet Autonomous Region, China.
Finalization of the Land Reclamation Report moves Continental
one step closer to achieving the legal authorization and social
license required to successfully develop the Xietongmen Project.
Returning affected lands to a productive public use after mining is
an important facet of Continental's commitment to develop a project
that creates meaningful benefits for local communities, while
protecting important environmental and cultural values.
The Xietongmen porphyry copper-gold deposit was discovered by
drilling in 2005. A comprehensive program for the Project commenced
in 2006, designed to collect the data necessary for the completion
of all reports required by the Chinese government to apply for a
mining license and feasibility study. Seven reports, including the
positive feasibility study announced in August 2007, for the mining
license application were completed by January 2008. The final
report - the Land Reclamation Plan - has been approved. The mining
license application is currently being compiled and is planned for
submission in the third quarter of 2008.
The technical studies for these reports have also provided data
for a social and environmental impact assessment ("SEIA") that is
being completed in accordance with international standards and will
play an important role in the financing of the Project.
Consultation on the preliminary SEIA findings, mitigation and
management strategies was conducted with government officials and
local communities in late 2007. Engagement activities included
presentations, site tours and informal discussions as well as
workshops were held in the local communities. Feedback from the
sessions has been incorporated into the SEIA. The final
international SEIA report is currently under review and is expected
to be completed in the third quarter. Results will be summarized in
English, Mandarin and Tibetan in a document that is available to
stakeholders.
President and CEO David Copeland said: "We are currently working
on engineering design and carrying out geotechnical drilling at
site. Although this phase of the project does not lend itself to
ongoing release of results, we continue to make good progress
toward our mining license application and completion of technical,
environmental and social studies for the Project."
For additional details, please visit the Company's website at
www.continentalminerals.com or contact Investor Services at (604)
684-6365 or within North America at 1-800-667-2114.
David J. Copeland, President and Chief Executive Officer
Forward Looking and other Cautionary Information
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 Continental expects are
forward-looking statements. Although the Company believes 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, changes in and the effect of government
policies with respect to mining and natural resource exploration
and exploitation 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 those actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, Investors should
review the Company's annual Form 20-F filing with the United States
Securities and Exchange Commission at www.sec.gov and its home
jurisdiction filings that are available at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Continental Minerals Corporation Investor Services
(604) 684-6365 or North America: 1-800-667-2114 (604) 684-8092
(FAX) Website: www.continentalminerals.com
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