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. The 100% owned Viken Project is the Company's most important exploration property. It consists of 30 mineral exploration licences covering 24,132 hectares (241) square kilometres.

The Viken Project was the subject of a positive Preliminary Economic Assessment with an effective date of September 10th, 2010. Subsequent to the release of the 2010 PEA the Company has drilled nineteen (19) holes (MYR-10-131 to 133, MYR-11-134 to 143, and MYR-12-144 to 149) totalling 2603.4 metres on the Viken Deposit and the surrounding exploration licences. holes MYR-11-140, 141 and 142 were metallurgical drill holes that are being used in the current investigation under the direction of Hatch on the potential viability of bio heap leaching for the production of uranium, nickel, zinc and copper from the Viken Deposit.

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, 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.