Continental Gold Announces Resignation of Gustavo Koch as Director and Executive Vice-President

TORONTO, ON--(Marketwired - January 08, 2016) - Continental Gold Inc. (TSX: CNL) (OTCQX: CGOOF) ("Continental" or the "Company") announces the resignation of Gustavo Koch as Executive Vice-President of the Company and as a member of its Board of Directors, effective immediately. Mr. Koch will remain as a consultant of the Company for a period of time to ensure a seamless transition.

"As a founding member of Continental, Gustavo was instrumental in assembling the various projects, including Buriticá, which form the Company today", commented Ari Sussman, President and CEO of the Company. "While we respect Gustavo's decision to return to Argentina to spend more time with his family, we will miss his senior leadership that has been present for almost a decade. I would like to personally thank him for his hard work and dedication over the years and wish him well."

"It is with mixed emotions that I step down from my role as a director and EVP of Continental, but I do believe it is the right thing to do at this particular stage of my life", stated Mr. Koch. "My participation in the creation and growth of Continental has been deeply satisfying on both a professional and personal level, and I look forward to the day that the Buriticá project declares commercial production and the Company becomes the largest precious metal producer in Colombia."

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 high-grade Buriticá gold project to production. On June 24, 2015, the Company announced an updated mineral resource estimate for the Buriticá project, prepared in accordance with National Instrument 43-101 ("NI 43-101"), based on 271,003 metres of drilling and sampling (as at May 11, 2015). This estimate covers the Yaraguá and Veta Sur vein systems, with a combined Measured mineral resource of 0.89 million tonnes of mineralized material containing 0.54 million ounces of gold grading 19 g/t gold, 1.58 million ounces of silver grading 55 g/t silver, and 13.4 million pounds of zinc grading 0.7% zinc, and a combined Indicated mineral resource of 12 million tonnes of mineralized material containing 3.94 million ounces of gold grading 10.2 g/t gold, 12.4 million ounces of silver grading 32 g/t silver, and 112.6 million pounds of zinc grading 0.4% zinc. The combined Inferred mineral resource is 15.6 million tonnes of mineralized material containing 4.5 million ounces grading 9.0 g/t gold, 14.7 million ounces of silver grading 29 g/t silver and 91 million pounds of zinc grading 0.3% zinc.