Continental Gold Reports on Third Quarter 2017 Activities

TORONTO, ON--(Marketwired - November 09, 2017) - Continental Gold Inc. (TSX: CNL) (OTCQX: CGOOF) ("Continental" or the "Company") is pleased to report the following highlights for the third quarter ending September 30, 2017 for the Buriticá project in Antioquia, Colombia.

Construction and Development

During the quarter, the Company continued to advance the development of the Buriticá project with a focus on detailed engineering, mill and infrastructure procurement, site construction progress, mine construction procurement, mine operations personnel and training and mine development.

Highlights

• Engineering - Detailed engineering continued with initial focus on long-lead mill equipment and associated infrastructure, as well as completing initial site excavation drawings to begin construction;
• Mill and Infrastructure Procurement - Purchase orders continued to be issued for additional long-lead equipment and for items required to advance detail engineering;
• Site Construction Progress - The Company remains on track to complete the second phase of the six-kilometre access road, connecting the Buriticá property entrance to the future mill and infrastructure site in the Higabra valley, in Q4 2017. The second phase includes upgrading the road to accommodate mill and infrastructure equipment deliveries; site preparations are progressing as planned, with first concrete pour anticipated in early Q1 2018. A modular building supply contract for the majority of the infrastructure facilities was signed with a well-qualified local fabricator. Work is underway on a 3.2-km low-voltage transmission line to provide additional power for mine development and construction activities;
• Mine Equipment Procurement - Major development equipment continued to arrive at site and the mining fleet at the end of October 2017 included three jumbos, three LHD loaders, two mechanized bolting machines and one 30-tonne truck. Equipment deliveries are planned to meet requirements for mine development ramp-up and personnel training to ensure pre-production development meets milestone objectives;
• Mine Operations Personnel and Training - The Company continues its local hiring focus, including comprehensive training and safety programs for employees as they transition from the existing small-scale conventional mine to mechanized mining related activities; and
• Mine Development - Development has been ongoing since the start of 2017 and continued to ramp-up well ahead of schedule, mitigating the potential risk of work not being completed in time for planned production start-up in H1 2020; development advance will continue to increase in 2017 as additional mining equipment arrive.

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