February 17, 2009, Vancouver, British Columbia: Continent Resources Inc. (CNSX: CTT) (the "Company") is pleased to announce the results of the first phase of reverse circulation drilling from its Lone Mountain Project located near Silver City, New Mexico. Drill hole LM-42, intersected 600 feet grading 0.205% oxide copper between 200 and 800 feet, with 50 feet grading 0.498% copper and with the last 30 feet grading 0.43% copper.
This limited, first phase drill program focused on near surface oxide copper mineralization which has become a valuable target with the advent of SX-EW technology which is able to treat lower-grade oxide copper.
"An average sample grade of 0.20% oxide copper provides an excellent foundation to continue to develop the Lone Mountain property. The oxide portion of porphyry copper systems in the SW USA has cut-off grades from 0.04% Cu to 0.10% Cu, depending on leach characteristics. The Lone Mountain project has excellent leach characteristics from recently completed bottle roll test work by Mountain States Research and Development." commented Continent's Chief Geologist and President, Michael R. Pawlowski.
"The completed Phase One drill program provides valuable geological information with which to base more detailed drilling in the one mile by one mile mineralized area. We are working to outline a large tonnage mineralized area to complete a Scoping Study."
The following table shows the significant intervals of oxide copper mineralization representing a small part of the overall system:
The Lone Mountain copper prospect has been historically drilled by numerous large mining companies as a porphyry copper system, discovering significant zones of copper and zinc at depths beneath the zone of oxide copper. At the time, the copper oxide mineralization was not considered a target since more modern, SX-EW technology had yet to be developed to treat the lower-grade oxide copper mineralization which typically overlies the deeper sulfide copper mineralization.
Assaying of historic drill holes, however, have shown a significant accumulation of oxide copper to exist at shallower depths in the Lone Mountain system, many intersections which are equal to or greater than the grade of drill hole LM-42. Below are listed selected intersections of copper oxide mineralization from historic drilling, illustrating the potential of the Lone Mountain copper oxide zone:
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.