Continent Announces Leachable Copper Zone Potential Estimate at Lone Mountain, New Mexico

February 27, 2009, Vancouver, British Columbia: Continent Resources Inc. (CNSX: CTT) is pleased to announce that its Potential Estimate for the leachable copper zone at Lone Mountain (Non NI43-101 compliant) shows a range between 110 and 160 million tonnes at between 0.20% and 0.29% copper. Based on all drill data (43 holes, 100-250m spacing) to date on Lone Mountain, including the recently reported drill program by Continent (February 17, 2008), the Company has modeled the near surface leachable copper zone and applied simple weighted averages of assays within modeled solids. The quoted figures are reported as an exploration target. The potential quantities and grades are conceptual in nature. Insufficient exploration has been done to define a mineral resource. It is uncertain if additional exploration will result in discovery of a mineral resource on the property.

Lone Mountain and Similar Properties

The Potential Estimate at Lone Mountain of 110 - 160 million tonnes with grades between 0.20% and 0.29% copper are well within the range of producing leachable copper mines in this region (see following table) including the Bagdad mine with an average grade of 0.12% copper or the Morenci mine with an average grade of 0.19% copper.

In other news, the Company is pleased to announce that bottle roll copper leach tests on Lone Mountain mineralization recorded total copper leach recoveries of between 67% to 84% within 96 hours based on calculated head values.
 

Continent Chief Geologist and President, Michael R. Pawlowski explains, "These results indicate excellent leach recovery. This is significant because Continent is focused on leachable copper which is the least expensive and most accessible copper to mine in big porphyry copper deposits. Today copper companies are expanding their low cost leachable copper projects and shutting down their higher cost sulfide projects, which require large capital costs in the form of mills and flotation plants."

 

Leach Test Details

The crushed drill core used in the test was from the thick copper oxide mineralization. The test was conducted by Mountain States Research and Development, Vail, AZ following standard QA/QC procedures.

 

Head assays from the thick copper oxide intervals range between 0.27% and 0.34% copper. A one kilogram sample of Lone Mountain crushed drill core was placed in a test bottle along with 1500 ml of raffinate solution. Extra acid was added to the stock solution bringing the H2SO4 solution content to 5.15 grams per liter and to adjust the pH down to 1.5, where it was maintained throughout the test. All samples were placed in mechanical rolls and agitated continuously for the duration of the test. Within the first five hours, about three quarters of the copper had been leached and by 24 hours the reaction was substantially complete. Gangue acid consumption had a range of values between 14.1 to 46.1 lbs/T for the four bottle leach tests.

 

About Continent Resources Inc.

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.

 

FOR MORE INFORMATION, PLEASE CONTACT:
Continent Resources Inc. Herrick Lau, CFO hlau@continentresources.com
604-688-9588
www.continentresources.com

 

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.

 
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