Continental Gold Limited (TSX:CNL)(OTCQX:CGOOF) ("Continental" or the "Company")
is pleased to announce that, further to its press release of May 13, 2014
announcing an updated mineral resource estimate for the Buritica project in
Colombia, the Company has filed with Canadian securities regulators an
independent technical report prepared in accordance with National Instrument
43-101 ("NI 43-101") entitled "Independent Technical Report and Resource
Estimate on the Buritica Gold Project 2013" (the "Technical Report"), containing
the updated mineral resource estimates. The Technical Report, dated June 25,
2014, with an effective date of December 31, 2013, was prepared for the Company
by Mining Associates Pty Limited. A copy of the Technical Report can be accessed
under the Company's SEDAR profile at www.sedar.com, or on the Company's website
at www.continentalgold.com.


The Technical Report covers two major vein systems - Yaragua and Veta Sur - with
a combined Measured mineral resource of 990,000 tonnes of mineralized material
containing 650,000 ounces of gold grading 20.4 g/t gold, 1,540,000 ounces of
silver grading 48 g/t silver, and 15,000,000 pounds of zinc grading 0.7% zinc,
and a combined Indicated mineral resource of 7,410,000 tonnes of mineralized
material containing 2,150,000 ounces of gold grading 9.0 g/t gold, 6,890,000
ounces of silver grading 29 g/t silver, and 75,100,000 pounds of zinc grading
0.5% zinc. The combined Inferred mineral resource is 16,700,000 tonnes of
mineralized material containing 4,200,000 ounces of gold grading 7.8 g/t gold,
13,100,000 ounces of silver grading 24 g/t silver and 111,000,000 pounds of zinc
grading 0.3% zinc.




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Combined Yaragua and Veta Sur Mineral Resources above a 3 g/t gold cut-off,
                          as at December 31, 2013                          
---------------------------------------------------------------------------
      Resource                 Grades                       Metal          
---------------------------------------------------------------------------
                                   AuEq                        AuEq        
Category  M tonnes Au g/t Ag g/t    g/t   Zn % Au Moz Ag Moz    Moz  Zn Mlb
---------------------------------------------------------------------------
Measured      0.99   20.4     48   21.4   0.7%   0.65   1.54   0.68    15.0
---------------------------------------------------------------------------
Indicated     7.41    9.0     29    9.6   0.5%   2.15   6.89   2.29    75.1
---------------------------------------------------------------------------
M & I         8.39   10.4     31   11.0   0.5%   2.80   8.43   2.97    90.1
---------------------------------------------------------------------------
Inferred      16.7    7.8     24    8.2   0.3%    4.2   13.1    4.4     111
---------------------------------------------------------------------------
Notes - Reported tonnage and grade figures have been rounded from raw      
estimates to reflect the order of accuracy of the estimate. Minor          
variations may occur during the addition of rounded numbers. There have    
been no assumptions made as to metal prices or recoveries in this mineral  
resource estimate other than in gold equivalents that are calculated for   
AuEq = Au+ Ag/50. M in Figures and Tables represents millions.             
---------------------------------------------------------------------------



In addition, the Company announces that it has engaged M3 Engineering &
Technology Corp. ("M3"), a full-service international engineering design company
headquartered in Tucson, Arizona, to oversee and complete a Preliminary Economic
Assessment ("PEA") of the Buritica project in Q4 2014. Since its inception in
1986, M3 has provided architectural, engineering and construction management
services, ranging from technical and financial conception to operational
startup, on numerous domestic and international mining and other projects with
unique technical challenges.


The PEA will be the first economic study for Buritica, to determine the
potential mining and processing parameters and associated capital expenditures
and operating costs for the project. The following table lists the contributors
that will be responsible for the various aspects of the PEA:




---------------------------------------------------------------------------
Component                     Contributor                                  
---------------------------------------------------------------------------
Geology                       Continental Gold Limited                     
---------------------------------------------------------------------------
Mineral Resource Estimate     Mining Associates Pty Limited (Australia)    
---------------------------------------------------------------------------
Mine Planning                 NCL Ingeneiria Y Construccion S.A. (Chile)   
---------------------------------------------------------------------------
Metallurgy and Process Plant                                               
Design                        Transmin (Peru)/M3 (US and Mexico)           
---------------------------------------------------------------------------
Geotechnical Studies          Ingeroc (Chile)                              
---------------------------------------------------------------------------
Hydrology and Hydrogeology    SAG (Colombia)                               
---------------------------------------------------------------------------
Tailings Storage              SVS Ingenieros (division of SRK (Peru))      
---------------------------------------------------------------------------
Power Supply                  HMV Ingenieros Ltda (Colombia)               
---------------------------------------------------------------------------
Environmental Baseline        SAG (Colombia)                               
---------------------------------------------------------------------------



The PEA is intended to be a preliminary step and is in addition to, and not a
replacement, substitute or proxy for the planned Pre-Feasibility Study ("PFS"),
which the Company still intends to complete on schedule in the second half of
2015. The PEA will be based off the updated mineral resource estimate contained
in the Technical Report.


"The track record of both M3 and NCL for project design and implementation in
Latin America is excellent," commented Ari Sussman, CEO. "We look forward to
delivering a realistic PEA in Q4 2014, providing a first-pass outline for the
Buritica project."


About Continental

Continental Gold Limited is an advanced-stage exploration and development
company with an extensive portfolio of 100%-owned gold projects in Colombia.
Spearheaded by a team with over 40 years of exploration and mining experience in
Colombia, the Company is focused on advancing its high-grade Buritica gold
project to production.


Additional details on the Buritica project and the rest of Continental's suite
of exploration properties are available at www.continentalgold.com.


The authors of the Technical Report, Mr. Andrew Vigar, BAppSc Geo, FAusIMM,
MSEG, and Mr. Martin Recklies, BAppSc Geo, MAIG, each of Mining Associates Pty
Limited, are each a "qualified person" (as such term is defined in NI 43-101)
and independent of the Company, and have prepared or supervised the preparation
of the technical information upon which the technical information contained in
this press release is based.


Forward-Looking Statements

This press release contains or refers to forward-looking information under
Canadian securities legislation, including statements regarding the estimation
of mineral resources, exploration results, potential mineralization, the
anticipated completion of a PEA and PFS, and exploration and mine development
plans, and is based on current expectations that involve a number of business
risks and uncertainties. Forward- looking statements are subject to significant
risks and uncertainties, and 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,
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
forward-looking statements are subject to significant risks and uncertainties,
and other factors that could cause actual results to differ materially from
expected results. These forward-looking statements are made as of the date
hereof and 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" 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Continental Gold Limited
+1.416.583.5610
info@continentalgold.com
www.continentalgold.com
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