July 9, 2008, Vancouver, BC: Continent Resources Inc. (CNQ: CORE) (the "Company") wishes to announce that the Company has agreed to increase its previously announced non-brokered private placement. The Company will now propose to issue up to 8,400,000 units at a price of $0.25 per unit for gross proceeds of up to $2,100,000. All other terms of the non-brokered private placement remain the same as per the May 30, 2008 press release.
Proceeds from the private placement will be used to carry out geological, geochemical and geophysical studies on the properties being acquired, the initial phase of drilling on the Lone Mountain property and for general working capital. Drilling will initially focus on the near-surface copper oxide mineralization with specific holes deepened to probe the underlying, higher-grade copper-zinc-silver skarn mineralization discovered during previous, historical drilling campaigns.
Continent Resources Inc. holds a significant portfolio of copper properties in one of the world's most prolific copper-producing regions, in Arizona and New Mexico. This area is elephant country for copper, containing the greatest cluster of porphyry copper deposits anywhere in the world and making up over 10% of the world's copper production. Continent Resources Inc. is focused on the discovery of copper resources which are suitable for leaching. Lone Mountain, the Company's feature property is within sight of the large Tyrone and Chino porphyry copper deposits owned by Freeport-McMoRan.
For more information please visit: www.continentresources.com
In compliance with National Instrument 43-101, Michael R. Pawlowski, President of Continent Resource Inc., is the Qualified Person who prepared and supervised the preparation of the information that forms the basis for this news release.
On behalf of Continent Resources Inc.,
"Michael R. Pawlowski"
Michael R. Pawlowski
President and Director
Continent Resources Inc.
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Continent Resources Inc. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
The CNSX does not accept responsibility for the adequacy or accuracy of this release.