Continental Gold Reports on 2014 Activities

TORONTO, ONTARIO--(Marketwired - March 6, 2015) - Continental Gold Limited (TSX:CNL)(OTCQX:CGOOF) ("Continental" or the "Company") is pleased to report the following highlights for the year ending December 31, 2014 for the Buriticá project in Antioquia, Colombia.

2014 Highlights and Significant Events

• On May 13, 2014, the Company announced an updated mineral resource estimate for the Buriticá project (the "2014 mineral resource estimate"), 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;
  
  
• On November 17, 2014, the Company released an independent Preliminary Economic Assessment ("PEA") for the Buriticá project, set out in the Company's technical report entitled "Buritica Gold Project, NI 43-101 Technical Report Preliminary Economic Assessment, Antioquia, Colombia", dated December 22, 2014 with an effective date of November 17, 2014 (the "Technical Report"). The PEA was completed utilizing the 2014 mineral resource estimate and was led by M3 Engineering and Technology Corporation ("M3") of Tucson, Arizona, with contributions from other independent consultants including Chilean-based NCL Ltda., who was responsible for the development of the underground mine plan for the project. Results included:
  
  
  • An 18-year mine life based on 20,055,000 tonnes grading 7.80 g/t gold and 19.35 g/t silver, resulting in 4,777,000 ounces of recovered gold and 7,088,000 ounces of recovered silver. Throughput will begin at a rate of 2,000 tonnes per day ("tpd") and will ramp up to 3,500 tpd in the third year;