Continental's Xietongmen Project Receives Two More Important Approvals-Environmental Impact Assessment and Conservation Plan
09 1월 2008 - 10:30PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: KMK)(OTCBB: KMKCF)
announces government approval of two more reports required for its
mining license application for the Xietongmen Project (the
"Project") in the Tibet Autonomous Region, People's Republic of
China ("PRC").
The State Environmental Protection Administration ("SEPA") has
approved the Environmental Impact Assessment and the Ministry of
Water Resources has approved the Soil and Water Conservation Plan.
These two reports were completed by certified Chinese design
institutes working in accordance with Chinese rules and
regulations. Continental has now received approvals for all but one
of the reports required for the mining license application (see
background information posted on Continental's website). The Land
Reclamation Plan is scheduled for completion in January, and will
be submitted as part of the mining license application.
The Xietongmen porphyry copper-gold deposit was discovered by
drilling in 2005. A comprehensive program for the Project commenced
in 2006, designed to collect the data necessary for the completion
of all reports required by the Chinese government to apply for a
mining license, as well as the positive feasibility study
(announced in August 2007). These technical studies have also
provided data for a social and environmental impact assessment
("SEIA") that is being completed by internationally recognized
consultants in accordance with International Finance Corporation
("IFC") standards. The SEIA is scheduled to be completed in the
coming months and, together with the feasibility study, will play
an important role in the financing of the Project.
President and CEO, Gerald Panneton, said: "Excellent progress
continues to be made toward our mining license application and
completion of the technical, environmental and social studies for
Xietongmen. Our goal is to fulfill all requirements for a mining
license, design and build an operation that meets international
standards, and contributes positively to the economic development
of the region. With our major shareholder, the Jinchuan Group
(which recently increased its position in KMK to 14% through
exercising warrants (C$2.25) at a premium of 36% to the current
market), we look forward to developing this excellent project."
For additional details, please visit the Company's website at
www.continentalminerals.com or contact Investor Services at (604)
684-6365 or within North America at 1-800-667-2114.
On behalf of the Board of Directors
Gerald Panneton, President and Chief Executive Officer
Forward Looking and other Cautionary Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities and events or developments that Continental expects are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, changes in and the effect of government
policies with respect to mining and natural resource exploration
and exploitation and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and those actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, Investors should
review the Company's annual Form 20-F filing with the United States
Securities and Exchange Commission at www.sec.gov and its home
jurisdiction filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor any other regulatory
authority accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Continental Minerals Corporation Shawn Wallace
Investor Services (604) 684-6365 or North America Toll Free:
1-800-667-2114 (604) 684-8092 (FAX) Website:
www.continentalminerals.com
Continental Minerals Corp (TSXV:KMK)
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Continental Minerals Corp (TSXV:KMK)
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