TSX-V: CNU

VANCOUVER, May 30 /CNW Telbec/ - Continuum Resources Ltd (TSXV: CNU) announces that it will raise up to $350,000 by way of the issuance of secured convertible debentures (the "Debentures"). Insiders and employees of Continuum have committed to a significant portion of the total amount proposed to be raised. The Debentures will have a two-year term and bear interest at 6% per annum, compounded monthly. The Debentures will be convertible into common shares of Continuum at a conversion price of $0.10 per share at any time prior to expiry. A fee, payable in common shares of Continuum, of 4% of the value of the Debentures issued will be payable on advance of the loan (up to 140,000�shares). The Debentures will be secured by the issued and outstanding shares of Continuum's wholly-owned Mexican subsidiary, Continuum Resources Mexico S.A. de C.V, and in a man-portable diamond drill owned by Continuum.

Up to 3,500,000 common shares of Continuum will be reserved for issuance as the maximum number of securities issuable upon conversion of the Debentures. This financing is subject to approval of the TSX Venture Exchange. Any securities issued upon conversion of the Debenture will be subject to a four month hold period.

Proceeds of this financing will be used to continue the Company's proposed work programs and for general working capital.

Background

Continuum is currently exploring 7 separate gold-silver projects in the state of Oaxaca, comprising approximately 125,000 hectares. Continuum is also a 24% joint venture partner with Fortuna Silver Mines Inc. (TSXV: FVI) on the San Jose silver project, on which drilling continues to expand on the resource estimate previously announced by the Company on March 12, 2007.

On behalf of the Board of Continuum Resources Ltd.

"Warren M. McIntyre"