July 17, 2009, Vancouver, British Columbia: Continent Resources Inc. (CNSX: CTT) is pleased to announce that Mr. Patrick Highsmith has been appointed the chairman of the board of directors of the Company, effective July 17, 2009. The Company is also pleased to announce that Mr. Paul F. Matysek has accepted the role of advisor to the Company.
Mr. Matysek is the President and Chief Executive Officer of Potash One Inc., where he is leading the company to feasibility stage on its Legacy Project in Saskatchewan. He was a founder and CEO of Energy Metals Corporation, which he helped grow from a market capitalization of $10 million to acquisition by a larger uranium producer for $1.8 billion. Since 1999, he has been involved in obtaining over $200 million of exploration and development financing.
Mr. Matysek is a geologist/geochemist and has served in an Executive or Director capacity for several exploration and development companies including: First Quantum Minerals Ltd., First Majestic Resource Corp., Energy Metals Corp., and Lithium One Inc. He has a wealth of technical and financial experience as well as over 35 years of exploration and development experience.
Commenting about the changes to Continent's team, Michael R. Pawlowski, Continent's President and Chief Executive Officer, said "We are very pleased to have Paul Matysek join us as an advisor. He has an extraordinary track record in fund raising and value creation. Patrick Highsmith has only been with us for a little over a month, but we have worked closely together in the field and in the boardroom. He brings a great perspective on big copper systems from his experience at BHP Billiton and Newmont as well. Continent has a strong portfolio of advanced copper projects, and the insight and business development experience from our new team members are the perfect complement to our organization."
The Company has also granted 800,000 incentive stock options to certain directors and consultants. The options are exercisable at $0.64 per share and will expire on July 17, 2014.
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.