Vancouver, British Columbia, August 24, 2007: Due to the ongoing concerns in worldwide financial markets regarding asset-backed securities, Continuum Resources Ltd (TSXV: CNU) wishes to clarify that the Company currently has over $5,300,000 in cash and cash equivalents. These funds include $4,000,000 in Guaranteed Investment Certificates ("GICs"), with the Vancouver branch of the Bank of Montreal, with the balance sitting in the Company's current account. The GICs are short-term and convertible at any time without penalty. The Company wishes to ensure shareholders that it has not been impacted by the "sub-prime loan" difficulties of the past month, and that the Company holds sufficient cash available to maintain its currently budgeted work commitments and property payments.
Continuum is a major explorer in the state of Oaxaca, with over 200,000 hectares of land, comprising 11 projects, in a number of past-producing silver and gold districts. At the San Jose silver-gold deposit, Continuum and joint venture partner Fortuna Silver Mines Inc. have recently initiated an aggressive exploration drilling and pre-feasibility program to take the San Jose deposit towards production (refer to previous news releases).
On behalf of the Board of Continuum Resources Ltd.
"Warren M. McIntyre"
Warren M. McIntyre, Corporate Secretary and Director
Renmark Financial Communications Inc.
Barry Mire : bmire@renmarkfinancial.com
Dan Symons : dsymons@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
