Continental Precious Minerals Inc. announced that it has received all of the outstanding assay results from previous diamond drilling programs conducted on its Viken Uranium and Polymetallic Project, located in central Sweden. Results included strong multi-element values over considerable widths from holes MYR-12-143 and 149 which were located respectively 600 and 850 metres north-northeast of the current proposed pit limits outlined in the 2010 PEA. In addition holes MYR-10-137 and MYR-11-143, that were drilled 9.5 kilometres and 8.0 kilometres respectively north of the 2010 resource area both encountered encouraging, near surface, uranium and polymetallic mineralization.

Upon completion of the current bio heap leach test work which is expected to be completed by the end of the calendar second quarter of 2013 it is the intent of the Company to update the 2010 PEA anticipating the use of a bio heap leach scenario and incorporating the recent drill hole assay results. The assay and sample information as well as geological descriptions are taken from drill logs as prepared by the project geologist for the drill program except for drill holes MYR-12-140, 141 and 142 which were shipped to Saskatchewan Research Council in Saskatoon for geological logging and sampling. For holes MYR-12-140, 141, and 142 assay samples were subjected to analysis at SRC Geoanalytical Laboratories, in Saskatoon, an accredited assay laboratory.

Samples were run for multi-element geochemical analysis using a total digestion with an ICP-MS finish. In addition inorganic carbon and organic carbon, as well as total sulphur content were analyzed. The core was logged and sampled in Sweden by personnel employed by Geoforum and sent to ALS Chemex in Ojebyn, Sweden for analyses.

For the remaining holes the core was logged and sampled in Sweden by personnel employed by Geoforum. The sampled core was sent to ALS Chemex an accredited assay laboratory in Öjebyn, Sweden. The samples were run for multi-element geochemical analysis using a total digestion with an ICP-MS finish.

In addition total carbon and inorganic carbon were analysed. As part of the standard protocol of the laboratory, a series of blanks and standards are inserted in every shipment for quality control purposes.