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Press release from Marketwire

Continental Precious Minerals Provides Update on Economic Scoping Study

Thursday, April 08, 2010

Continental Precious Minerals Provides Update on Economic Scoping Study09:01 EDT Thursday, April 08, 2010TORONTO, ONTARIO--(Marketwire - April 8, 2010) - Continental Precious Minerals Inc. (the "Company" or "Continental") (TSX:CZQ) today provided an update on the economic scoping study on its MMS Viken Licence and surrounding licences which is planned to be completed in 2010."This study is an important milestone in the development of our Swedish mineral exploration properties and has been much anticipated by our shareholders," said Ed Godin, President and CEO. "Working with our teams in Canada and Sweden, we have drawn up a timeline of focused activity with the view to releasing an economic scoping study before the end of 2010."To achieve the release of the results of the study before the end of 2010 the following steps are planned: 1. Focusing on the recovery of three metals only (uranium, vanadium and molybdenum), Al Hayden of EHA Engineering Ltd. and Process Research Ortech (Ortech) will follow up on the metallurgical research completed by Ortech, announced in January of this year. The purpose of the research will be to determine if the results achieved from Ortech's preliminary tests can be reproduced under typical process plant conditions. Bench scale flotation, leaching and roasting tests will take place with results expected by August 2010. Alum Shale metallurgy is complex and does not respond well to pre- concentration processes such as flotation. Recovering the targeted metals will require the application of hydrometallurgical techniques and the integration of many unit operations to produce marketable products and environmentally acceptable residues. The research program will address important aspects of the potential production flowsheet with a view to supporting a scoping level study. Future detailed testwork will be required as the project is advanced. 2. With the results of the Ortech metallurgical program, it is anticipated that P&E Mining Consultants Inc. will be in a position to complete the economic scoping study. The study is expected to provide information on mine design, mine production schedule, process recovery, capital and operating costs and a cash flow model. "The Alum Shale deposit at MMS Viken presented us with many opportunities which we explored thoroughly. We examined designing a program that would exploit the polymetallic content of the shales to the largest extent, including recovering precious metals indicated," noted Mr. Godin. "The shales also contain a significant quantity of organic carbon which we considered extracting for its potential oil production. While these may still have potential, we have determined that the best way to add shareholder value and advance MMS Viken to production is by focusing on mining three key minerals. This will also serve our goal of partnering with a major mining company on the property."Cautionary Statement Regarding Forward-Looking StatementsThis news release contains forward-looking statements regarding metallurgical studies and a preliminary economic assessment of the MMS Viken Licence and surrounding licences in Sweden. There is no assurance that the Company will be successful in extracting metals from the Company's mineral exploration licences in Sweden on a commercial scale, or at all, thereby enabling the Company to complete a preliminary economic assessment. The forward looking statements contained in this news release represent the Company's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date.About Continental Precious Minerals Inc.: Continental Precious Minerals Inc. is a multi-mineral exploration company with multiple interests and exploration licences in Sweden. Since March 2005, Continental's primary goal has been to advance its Swedish assets. The Company is also evaluating other opportunities as they emerge in current market conditions.FOR FURTHER INFORMATION PLEASE CONTACT: Continental Precious Minerals Inc. Ed Godin President (416) 805-3036 (905) 276-4862 (FAX) or Continental Precious Minerals Inc. Craig MacPhail Investor Relations Consultant (416) 367-5000 (416) 367-5390 (FAX)