TORONTO, ONTARIO — (Marketwire) — 12/05/12 — Continental Precious Minerals Inc. (TSX: CZQ) (the „Company“ or „Continental“) wishes to assure shareholders that it will not be pressured into hasty, irresponsible actions by a dissident shareholder pre-occupied with unpredictable, short-term swings in the company-s share price.
Ed Godin, chief executive officer, notes that Continental is one of only a handful in the junior mining exploration sector that has survived the ups and downs of the global commodity cycle for a quarter of a century.
Mr. Godin said: „Our cash reserves now total more than $12 million, giving us a cushion that few other junior exploration companies can match.“ Continental has advanced its Swedish properties on a budget of just $19.7 million (as of August 31, 2012) with minimal dilution to shareholders.
Continental shareholders are due to elect directors for the coming year at the annual meeting on December 20, 2012. Shareholders are urged not to cast their votes in favour of the dissident-s nominees.
„Should the dissident nominees succeed in seizing control of Continental, your investment will be entirely at the mercy of a group with highly questionable motives and credentials,“ Mr. Godin said.
Furthermore, none of the dissident nominees owns Continental common shares except Mr. Mistry, who owns or controls a paltry 0.3% stake. Despite such meagre holdings, the dissidents are seeking to take over the entire board.
The company poses three pertinent questions to Continental shareholders:
About Continental Precious Minerals Inc:
Continental is a multi-mineral exploration company with multiple interests and exploration licences in Sweden. Since March 2005, our primary goal has been to advance its Swedish assets. We are also evaluating other opportunities as they emerge in current market conditions.
Contacts: Continental Precious Minerals Inc. Ed Godin President & CEO (416) 805-3036 (416) 848-0790 (FAX)
Kingsdale Communications Inc. Bernard Simon Vice-President (416) 867-2304 (416) 867-2271 (FAX)
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