Continental Gold Reports on Third Quarter 2017 Activities - Seite 3

As at September 30, 2017, the Company had $127.3 million in cash and cash equivalents and working capital of $116.8 million. In addition, during the quarter, the Company amended its credit facility to provide an additional $25 million, resulting in a total revised credit facility of $275 million, subject to certain conditions precedent. As at September 30, 2017, the Company had drawn $50 million on the credit facility, leaving $225 million available. All dollar amounts are United States dollars.

Outlook

The Company expects to continue to advance the construction and development of the Buriticá project with the commencement of major earthworks in Q4 2017 and first concrete pour in early Q1 2018. Staffing levels are expected to ramp-up to accommodate the increase in site activity with first gold pour estimated in H1 2020.

Exploration drilling is expected to continue with a focus on: moving mineral resources into higher classification categories; step-out drilling to target high-grade extensions and testing of multiple new targets with high-grade gold potential; and drilling targets identified from grassroots.

About Continental Gold

Continental Gold Inc. is an advanced-stage exploration and development company with an extensive portfolio of 100%-owned gold projects in Colombia. Formed in April 2007, the Company - led by an international management team with a successful track record of discovering and developing large high-grade gold deposits in Latin America - is focused on advancing its fully-permitted high-grade Buriticá gold project to production with first gold pour on track for early 2020.

For information on the Buriticá project, please refer to the technical report, prepared in accordance with NI 43-101, entitled "Buriticá Project NI 43-101 Technical Report Feasibility Study, Antioquia, Colombia" and dated March 29, 2016 with an effective date of February 24, 2016, led by independent consultants JDS Energy & Mining Inc. The technical report is available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.continentalgold.com. Additional details on Continental Gold's suite of gold exploration properties are also available at www.continentalgold.com.