CNL Collective Mining Ltd

Continental Gold Inc. (TSX:CNL) (OTCQX:CGOOF) (“Continental” or the “Company”) is pleased to announce results from the initial seven diamond drill holes into the Veta Sur system and the Laurel target as part of its 2018 drilling program at its 100%-owned Buriticá project in Antioquia, Colombia. The Company currently has 14 diamond drill rigs in operation, working to increase and upgrade mineral resources to higher classification categories by testing for high-grade and broad mineralized zones within the mineral reserve and resource envelopes. In addition, high-impact targets along strike and below existing mineral resources, as well as grassroots targets proximal to existing and proposed infrastructure, are now being tested.

Figure 1 – Plan View of the Laurel and Veta Sur Systems Figure 2 – Cross Section of the Laurel and Veta Sur Systems Figure 3 – Long Section of the Veta Sur System with Mineral Resource Envelopes Figure 4 – Long Section A to A’ of Vein 39 from the Veta Sur System Figure 5 – Visible Gold in the Laurel System in Drill Hole BUUY374D03 beginning at 239.45 metres

“Without question, the results today confirm that the Veta Sur system, like the Yaraguá system to the immediate east, is world-class in size as we have not yet been able to define the limits of the sheeted veins system. Veta Sur, which has already been drilled over 1,100 metres of strike by 1,700 vertically, continues to expand with the discovery of new veins in the footwall northwest of the system at depth,” commented Ari Sussman, CEO. “Additionally, the Laurel system can now be confirmed as an important discovery, measured over 1,250 metres along strike by 1,250 metres vertically. A considerable amount of drilling will still need to take place at Laurel to prove up a mineral resource; however, with the discovery of high-grade visible gold in the system for the first time, we are prioritizing drilling to attack it aggressively.”

Laurel Target (referenced in Figures 1, 2 and 5)

Scout drilling of the greenfield Laurel target (“Laurel”) has confirmed that the potential exists for it to evolve into a third major high-grade vein system. Laurel is fortuitously located directly south of the Veta Sur system and a short distance south from the planned location of the Veta Sur ramp, which is currently under construction. The Laurel target has been sparsely traced by drilling and sampling over large dimensions measuring 1,285 metres along strike by 1,250 metres vertically and remains open in all directions for expansion.

High-grade results from drilling include:

• 1.65 metres @ 14.05 g/t gold and 11.4 g/t silver (BUSY374D03)
• 0.50 metres @ 59.20 g/t gold and 86.1 g/t silver (BUSY374D03)
• 1.55 metres @ 15.56 g/t gold and 15.9 g/t silver (BUSY374D03)

Given the close proximity of the Laurel target to the Veta Sur ramp currently under construction, the Company is prioritizing it for drilling as good potential exists for Laurel to be incorporated into the early years of the mine plan. A second diamond drill rig has arrived at site and is being set up to test for western extensions of the Laurel system over a myriad of vertical elevations with additional drilling currently in the planning phase.

Veta Sur System (referenced in Figures 1, 2, 3 and 4)

Seven diamond drill holes intersected the Veta Sur system (“Veta Sur”) at various elevations covering more than 1,100 vertical metres and once again proving that the system hosts excellent continuity of high-grade gold over large dimensions. Importantly, the system demonstrates clear metal zonation as depicted by the mineralogy with high-grades of gold and silver associated with zinc, lead and pyrite at shallow elevations, giving way at deeper elevations to gold, pyrrhotite and slightly elevated copper. This type of metal zonation suggests that the system is more proximal to a porphyry source at depth and deep drilling is planned to try and find a porphyry system.

The first directionally drilled step-out hole in over three years into Veta Sur (BUUY349D02) successfully extended high-grade gold 300 metres below the deepest part of the inferred resource estimate above cut-off grade in the central portion of Veta Sur. Additionally, the same hole also stepped out at depth along strike and discovered multiple new high-grade veins with key highlights as follows:

• 3.10 metres @ 38.38 g/t gold and 57.3 g/t silver (BUUY349D02, elevation 635 metres above sea level (“ASL”); 200 metre extension below the lowest limit of the inferred mineral resource envelope above cut-off grade)
• 3.75 metres @ 51.39 g/t gold and 35 g/t silver (BUUY349D02, a new vein 20 metres to the northwest of the most northwesterly vein modeled at Veta Sur at an elevation of 501 metres ASL; 300 metres below the lowest limit of the inferred mineral resource envelope)

Drill holes BUSY374D01-03, intersected high-grade gold in the Veta Sur system within the inferred mineral resource envelope at elevations between 930-980 metres ASL as follows:

• 4.25 metres @ 28.35 g/t gold and 62.8 g/t silver (BUSY374D01)
• 10.05 metres @ 6.53 g/t gold and 37.3 g/t silver (BUSY374D02)
• 4.00 metres @ 22.44 g/t gold and 134.6 g/t silver (BUSY374D03)

Grades encountered in these three drill holes are generally much higher than the current inferred mineral resource estimate for this area of the block model with results as follows:

Hole ID	Intercept Interval* (m)	Gold** (g/t)	Silver** (g/t)	Vein	Block Model (g X m)	Drill Hole (g X m)	Difference(1)
BUUY374D01	4.25	28.35	62.8	VS42+VS39	0.2	120	59,900%
BUUY374D02	10.05	6.53	37.3	VS39+VS34	0.8	65.6	8,100%
BUUY374D03	4.00	22.4	51.1	VS39	0.5	89.9	17,880%

(1) Represents difference between block model and drill hole on a grams x metre basis

In the past, drill testing the depth potential of Veta Sur was limited due to lack of access. With underground development advancing at a productive rate and providing suitable drilling locations, the Company will be aggressive in looking to grow the mineral resources at Veta Sur over the balance of the year.

Infill drilling at much higher elevations from Veta Sur intersected grades that were generally in line with the mineral resource block model with significant results as follows:

• 3.30 metres @ 9.48 g/t gold and 104.9 g/t silver (BUUY368)
• 0.50 metres @ 100.5 g/t gold and 195 g/t silver (BUUY373)

Hole ID	From (m)	To (m)	Intercept Interval* (m)	Gold** (g/t)	Silver** (g/t)	Gold Equivalent** (g/t)	Mid-Point Elevation (m)	Vein
BUUY349D	506.10	506.60	0.50	6.80	22.8	7.13	840	Laurel System
BUUY349D01	Not complete
BUUY349D02	289.20	291.80	2.60	3.24	1.1	3.25	664	VS62
incl	289.20	289.85	0.65	7.37	3.3	7.42	665
	334.10	337.20	3.10	38.38	57.3	39.20	635	VS43
incl	334.70	335.20	0.50	212.00	99.0	213.41	636
and	336.55	337.20	0.65	9.98	132.0	11.87	635
	372.10	372.80	0.70	10.75	6.8	10.85	613	VS39
	377.90	378.40	0.50	20.90	22.7	21.22	609	VS34
	443.40	447.00	3.60	3.13	3.0	3.17	568	Unmodeled Vein
	448.40	448.90	0.50	5.02	22.1	5.34	566	Unmodeled Vein
	533.25	537.00	3.75	3.05	5.2	3.13	515	VS16
	545.80	547.20	1.40	2.33	2.0	2.36	509	Northwest of Model
	548.90	549.50	0.60	5.47	1.2	5.49	507	Northwest of Model
	559.45	563.20	3.75	51.39	35.0	51.89	501	Northwest of Model
incl	560.90	562.20	1.30	141.00	89.8	142.28	500
and	559.45	560.15	0.70	8.06	12.5	8.24	501
	613.20	615.45	2.25	3.36	1.6	3.39	469	Northwest of Model
incl	614.85	615.45	0.60	6.45	1.7	6.47	469
	637.45	639.00	1.55	2.57	1.6	2.59	455	Northwest of Model
BUSY374D	182.50	183.50	1.00	3.96	4.6	4.03	1240	Laurel System
	211.10	211.60	0.50	4.03	17.7	4.28	1226	Laurel System
	348.65	349.55	0.90	5.05	1.9	5.08	1160	Laurel System
	367.50	368.60	1.10	7.11	3.8	7.16	1152	Laurel System
BUSY374D01	241.85	242.35	0.50	14.65	22.0	14.96	1009	Laurel System
	286.80	287.30	0.50	29.60	21.6	29.91	999	Laurel System
	303.10	303.70	0.60	3.78	77.0	4.88	995	Laurel System
	308.30	310.10	1.80	8.36	204.2	11.28	994	VS185
incl	309.50	310.10	0.60	23.00	529.0	30.56	994
	396.20	398.20	2.00	4.34	17.1	4.59	974	VS170
incl	397.20	397.70	0.50	8.58	26.4	8.96	974
	420.60	421.10	0.50	10.95	7.5	11.06	970	VS160
	496.00	496.50	0.50	5.22	4.3	5.28	957	VS120
	517.30	517.80	0.50	14.95	13.0	15.14	954	VS90
	536.10	537.20	1.10	6.75	5.1	6.83	951	VS62
	540.70	541.80	1.10	3.83	8.6	3.95	950
	556.00	556.70	0.70	9.47	4.1	9.53	948	VS48
	564.85	569.10	4.25	28.35	62.8	29.25	947	VS42+VS39
incl	566.20	567.90	1.70	68.32	139.1	70.31	947
	593.90	594.40	0.50	5.95	7.0	6.05	944	VS34
BUSY374D02	137.10	140.50	3.40	3.76	9.1	3.89	1028	Laurel System
	255.20	255.70	0.50	4.21	10.3	4.36	996	Laurel System
	292.40	293.20	0.80	3.51	0.05	3.51	986	Laurel System
	309.00	310.45	1.45	20.10	0.9	20.11	982	VS185
	327.20	329.10	1.90	13.76	7.2	13.86	977	VS180
incl	327.20	327.70	0.50	46.90	16.1	47.13	977
	333.50	334.45	0.95	3.77	5.6	3.85	975	VS170
	397.20	398.30	1.10	30.03	15.3	30.25	961	VS160
incl	397.20	397.70	0.50	51.60	27.6	51.99	961
	537.95	548.00	10.05	6.53	37.3	7.06	935	VS39+VS34
incl	541.30	542.00	0.70	12.20	97.0	13.59	936
and	542.60	543.10	0.50	26.00	154.0	28.20	936
and	546.00	546.50	0.50	51.90	117.0	53.57	935
	557.30	558.00	0.70	6.09	5.7	6.17	934	VS31
	565.80	566.50	0.70	24.40	13.4	24.59	932	VS30
	568.55	569.20	0.65	9.75	7.1	9.85	932
BUSY374D03	60.20	60.70	0.50	4.15	66.1	5.09	1035	Laurel System
	99.20	100.70	1.50	2.11	3.3	2.16	1023	Laurel System
incl	100.20	100.70	0.50	4.93	6.0	5.02	1022	Laurel System
	107.75	108.55	0.80	3.68	5.9	3.76	1020	Laurel System
	169.95	171.10	1.15	1.91	19.0	2.18	1002	Laurel System
	180.60	181.10	0.50	4.17	6.5	4.26	1000	Laurel System
	185.20	185.80	0.60	9.25	13.6	9.44	999	Laurel System
	210.15	210.65	0.50	6.27	9.1	6.40	992	Laurel System
	215.70	217.35	1.65	14.05	11.4	14.21	991	Laurel System
incl	215.70	216.25	0.55	11.80	6.6	11.89	991	Laurel System
and	216.85	217.35	0.50	33.20	27.8	33.60	991	Laurel System
	219.00	219.50	0.50	6.16	9.6	6.30	990	Laurel System
	226.40	227.45	1.05	6.10	4.1	6.16	989	Laurel System
	235.25	235.75	0.50	59.20	86.1	60.43	987	Laurel System
	239.45	241.00	1.55	15.56	15.9	15.79	986	Laurel System
incl	239.45	240.00	0.55	40.30	30.9	40.74	986	Laurel System
	278.10	278.60	0.50	10.80	4.7	10.87	978	VS185
incl	292.10	292.80	0.70	4.83	6.0	4.92	975
	339.00	339.55	0.55	4.00	1.9	4.03	966	VS170
	362.10	362.60	0.50	8.91	3.5	8.96	962	VS160
	497.65	501.65	4.00	22.44	134.6	24.37	934	VS39
incl	498.85	500.55	1.70	47.63	296.4	51.86	934
and	499.35	499.95	0.60	65.80	250.0	69.37	934
	503.15	505.75	2.60	5.52	18.1	5.78	933	VS34
incl	503.15	503.65	0.50	19.95	74.2	21.01	933
	506.25	507.85	1.60	8.09	4.4	8.15	932
incl	506.85	507.35	0.50	12.85	6.0	12.94	932
	519.60	520.20	0.60	6.76	6.8	6.86	930	VS32
	521.70	522.20	0.50	4.18	8.6	4.30	929	VS31
BUUY368	81.70	82.60	0.90	4.23	0.9	4.24	1630	VS170
	198.40	201.70	3.30	9.48	104.9	10.98	1581	VS75+VS70
incl	198.40	200.05	1.65	17.32	195.4	20.12	1582
and	199.50	200.05	0.55	44.70	532.0	52.30	1581
	202.35	204.25	1.90	3.60	35.3	4.11	1579	VS65
	219.75	220.25	0.50	10.55	17.0	10.79	1573	VS48
	230.65	231.85	1.20	3.39	58.6	4.22	1569	VS43
	234.20	238.00	3.80	3.58	15.0	3.79	1567	VS42+VS41
	241.85	242.35	0.50	10.30	34.1	10.79	1565	VS39
BUUY372 (Stopped short of target)	87.60	88.20	0.60	5.40	4.7	5.47	1619	VS170
	122.30	122.80	0.50	4.30	33.5	4.78	1601	VS150
	124.70	125.20	0.50	3.87	14.6	4.08	1600	VS140
	165.20	165.90	0.70	8.45	7.7	8.56	1579	VS123
	172.50	173.00	0.50	4.12	90.5	5.41	1576	VS120
	194.00	194.50	0.50	3.83	20.2	4.12	1565	VS110
BUUY373	112.50	113.50	1.00	23.12	3.4	23.16	1612	VS170
incl	113.00	113.50	0.50	45.60	3.5	45.65	1612
	130.50	132.10	1.60	1.96	5.5	2.04	1604	VS160
	198.00	198.50	0.50	100.50	195.0	103.29	1575	VS120

*     Intercepts calculated at a composite 2 grams X metre gold equivalent (70:1 Au/Ag) for minimum intervals of 0.5 metres, with up to 20% internal dilution. True widths are estimated to be between 80-100%. **   Grades herein are reported as uncapped values.Note: Drill holes designated “BUUY” were collared from underground.

Geological Description of the Buriticá Project

Continental’s 100%-owned, 70,678-hectare project, Buriticá, contains several known areas of high-grade gold and silver mineralization, of base metal carbonate-style (“Stage I”) variably overprinted by texturally and chemically distinctive high-grade (“Stage II”) mineralization. The two most extensively explored of these areas (the Yaraguá and Veta Sur systems) are central to this land package. The Yaraguá system has been drill-outlined along 1,100 metres of strike and 1,700 vertical metres and partially sampled in underground developments. The Veta Sur system has been drill-outlined along 1,000+ metres of strike and 1,800 vertical metres and has been partially sampled in underground developments. Both systems are characterized by multiple, steeply-dipping veins and broader, more disseminated mineralization and both remain open at depth and along strike, at high grades.

Management Appointment

The Company is pleased to announce the appointment of Luis German Meneses as Country Manager, responsible for the management and administration of the Company’s Colombia operations. Mr. Meneses is the former Executive Vice-President and COO of Cerrejón, Colombia’s largest private coal producer and exporter and one of the largest integrated mining companies in the world, with mine-railway-port and marketing operations. With over 37 years of senior management experience, he led operations and business teams in Colombia and North America, including as Vice-President, Operations with Intercor (a subsidiary of ExxonMobil that merged into what is now the current Cerrejón).

Technical Information

Mauricio Castañeda, Vice-President, Exploration of the Company and a qualified person for the purpose of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43‑101”), has prepared or supervised the preparation of, or approved, as applicable, the technical information contained in this press release.

The Company utilizes a rigorous, industry-standard QA/QC program. HQ and NQ core is sawn or split with one-half shipped to a sample preparation lab in Medellín run by ALS Colombia Limited (“ALS”) in Colombia, whereas BQ core samples are full core. Samples are then shipped for analysis to an ALS-certified assay laboratory in Lima, Peru. The remainder of the core is stored in a secured storage facility for future assay verification. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance and a portion of the samples are periodically check assayed at SGS Colombia S.A., a certified assay laboratory in Medellín, Colombia.

The Company does not receive assay results for drill holes in sequential order; however, all significant assay results are publicly reported.

For information on the Buriticá project, please refer to the technical report, prepared in accordance with NI 43‑101, entitled “Buriticá Project NI 43–101 Technical Report Feasibility Study, Antioquia, Colombia” and dated March 29, 2016 with an effective date of February 24, 2016, led by independent consultants JDS Energy & Mining Inc. The technical report is available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.continentalgold.com.

About Continental Gold

Continental Gold Inc. is an advanced-stage exploration and development company with an extensive portfolio of 100%-owned gold projects in Colombia. Formed in April 2007, the Company – led by an international management team with a successful track record of discovering and developing large high-grade gold deposits in Latin America – is focused on advancing its fully-permitted high-grade Buriticá gold project to production with first gold pour on track for H1 2020. Additional details on Continental Gold’s suite of gold exploration properties are also available at www.continentalgold.com.

For further information, please contact:

Paul BeginChief Financial OfficerContinental Gold Inc.+1.416.583.5610info@continentalgold.com www.continentalgold.com

Forward-Looking Statements

This press release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding the Laurel system, timing of a production decision, advancing the Buriticá project, exploration results, potential mineralization, potential development of mine openings, potential improvement of mining dilution grades, increasing the drill program and amount of equipment and exploration and mine development plans and is based on current expectations that involve a number of significant business risks and uncertainties. Forward-looking statements are subject to other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, an inability to advance the Buriticá project to the next level, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Specific reference is made to the most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. All the forward-looking statements made in this press release are qualified by these cautionary statements, and are made as of the date hereof. The Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.

Differences in Reporting of Resource Estimates

This press release was prepared in accordance with Canadian standards, which differ in some respects from United States standards. In particular, and without limiting the generality of the foregoing, the terms “inferred mineral resources,” “indicated mineral resources,” “measured mineral resources” and “mineral resources” that may be used or referenced in this press release are Canadian mining terms as defined in accordance with National Instrument 43‑101 – Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves (the “CIM Standards”). The CIM Standards differ significantly from standards in the United States. While the terms “mineral resource,” “measured mineral resources,” “indicated mineral resources,” and “inferred mineral resources” are recognized and required by Canadian regulations, they are not defined terms under standards in the United States. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. Readers are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into reserves. Readers are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, United States companies are only permitted to report mineralization that does not constitute “reserves” by standards in the United States as in place tonnage and grade without reference to unit measures. Accordingly, information regarding resources contained or referenced in this press release containing descriptions of our mineral deposits may not be comparable to similar information made public by United States companies.

Photos accompanying this announcement are available athttp://resource.globenewswire.com/Resource/Download/dfa9cea6-d31d-48dd-83d1-2a9be4dd482bhttp://resource.globenewswire.com/Resource/Download/b4c40d79-2195-4a9c-ae39-bf0c555f7e91http://resource.globenewswire.com/Resource/Download/dec2f1a6-17f3-4bcb-8832-ed8db30be97dhttp://resource.globenewswire.com/Resource/Download/c9330137-3ca1-459e-b3f0-91ce2987e1edhttp://resource.globenewswire.com/Resource/Download/9135bf6b-ed97-4e21-a598-5cfdef7040b9