Continental Gold Commences Exploration Drilling at the Buritica Project

TORONTO, ON--(Marketwired - July 24, 2017) - Continental Gold Inc. (TSX: CNL) (OTCQX: CGOOF) ("Continental" or the "Company") is pleased to report that it has commenced a 15,000-metre Phase 1 Expansion underground drilling program as part of the 2017 exploration program at its 100%-owned Buriticá project located in Antioquia, Colombia. Presently, there are three drill rigs operating at site, with two more rigs anticipated to arrive by the end of Q3 2017. The aim of the directional drilling program is multifold and will include infill drilling of both probable reserves and inferred resources in order to move them into higher classification categories. Additionally, step-out drilling is planned to target high-grade extensions along both probable mineable reserve blocks and inferred mineral resources located at or below the elevation of the Higabra Valley Tunnel. Lastly, multiple new targets with high-grade gold potential, identified from grassroots exploration conducted around the Buriticá project during the past two years, will be tested towards the end of the Phase 1 Expansion drilling program. The Company anticipates the first results of this drill campaign to be available in September.

"We are excited to have drills turning again for the first time in more than two years and expect that future results will continue to be positive," commented Ari Sussman, Chief Executive Officer. "With both the Yaraguá and Veta Sur deposits wide open for expansion, we are confident that drilling will drive shareholder value as we embark on our next phase of corporate growth."

About Continental Gold
Continental Gold Inc. is a development-stage gold mining company. With a first mover advantage in Colombia, the Company has a portfolio of high-grade and high impact exploration and development properties. The Company's flagship Buriticá project is a high-grade and multi-million-ounce precious metal project boasting mineral reserves of 3.7 million ounces at 8.4 g/t gold (13.7 million tonnes), with production scheduled for early 2020. Newmont Mining recently invested US$109 million at a 46% premium to market to purchase a 19.9% interest and, as a result, the Company is well-funded to initiate construction of the Buriticá mine and initiate aggressive drill programs throughout its portfolio of properties.