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Message: CZQ Encouraged by Swedish Government's Uranium Mining Comments

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CZQ Encouraged by Swedish Government's Uranium Mining Comments

posted on Oct 13, 09 03:32PM

October 13, 2009

Continental Precious Minerals Encouraged by Swedish Government's Uranium Mining Comments

TORONTO, ONTARIO--(Marketwire - Oct. 13, 2009) - Continental Precious Minerals Inc. (TSX:CZQ) (the "Company" or "Continental") today announced it is encouraged by Swedish Prime Minister Fredrik Reinfeldt's recent comments on uranium mining. Mr. Reinfeldt indicated his government is not against uranium mining, particularly as the nuclear power industry is likely to continue longer than first planned. Earlier this year, Mr. Reinfeldt supported replacing Sweden's 10 nuclear reactors, revoking a 1980 referendum decision to phase out nuclear power.

"Given the progress we have made advancing our Swedish assets, we are particularly encouraged by Prime Minister Reinfeldt's strong endorsement of the uranium mining industry," said Ed Godin, President and CEO of Continental. "The Prime Minister's recent comments have re-enforced our belief that Sweden is one of the best locations in the world for investment in uranium exploration."

Continental will continue its efforts to delineate the resource at the MMS Viken Licence and surrounding licences and continue its drill program in a cost effective manner.

The Company is continuing metallurgical studies with a view to publishing the results of a preliminary economic assessment at the MMS Viken Licence in 2010.

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