Continental Precious Minerals Inc. announced that it has received preliminary bench scale metallurgical results from Alum Shale core samples taken at the Companys 100% owned multi-metal sediment (MMS) deposit located on the Viken and adjacent Licences in Sweden. Bench scale metallurgical studies were conducted on core samples by Process Research ORTECH Inc. of Mississauga, Ontario, a leader in extractive metallurgy and process technology. After completing a combination of different leaching and roasting tests (47 in total) ORTECH was able to report test results indicating potential recoveries of approximately 90% for uranium, approximately 90% for molybdenum and about 70% for vanadium. A National Instrument 43-101 Technical Report, titled Third Updated Technical Report on Viken MMS Licence Area, Jamtland, Kingdom of Sweden, and filed March 19, 2009 on SEDAR, estimated an inferred resource on the MMS Viken Licence and surrounding MMS licences of 2.8 billion tonnes containing approximately 1.0 billion pounds of uranium oxide (0.33 lbs/ton), 16.7 billion pounds of vanadium pentoxide (5.36 lbs/ton) and 1.5 billion pounds of molybdenum (0.49 lbs/ton).

Continental Precious Minerals Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2009. For the quarter, the company reported net loss of CAD 542,492 or CAD 0.01 per share compared to net loss of CAD 487,823 or CAD 0.01 per share for the same quarter a year ago. Net operating loss before extraordinary items was CAD 547,032 compared to CAD 479,848 for the same quarter a year ago. Net cash used in operating activities was CAD 570,335 and expenditures on mineral properties of CAD 518,851 compared to net cash used in operating activities of CAD 526,054 and expenditures on mineral properties of CAD 791,866 for the same quarter a year ago. For the six months, the company reported net loss of CAD 850,262 or CAD 0.02 per share compared to net loss of CAD 754,482 or CAD 0.02 per share for the same period a year ago. Net operating loss before extraordinary items was CAD 865,656 compared to CAD 984,610 for the same period a year ago. Net cash used in operating activities was CAD 824,233 and expenditures on mineral properties of CAD 961,536 compared to net cash used in operating activities of CAD 750,071 and expenditures on mineral properties of CAD 1,708,537 for the same period a year ago.

Continental Precious Minerals Inc. announced it is expanding its mineral exploration focus at its Swedish mineral properties to include vanadium. A National Instrument 43-101 technical report, released March 19, 2009, estimated an inferred resource at the Company's 100% owned multi-metal sediment ('MMS') Viken License and surrounding MMS licenses of 2.8 billion tones containing approximately 16.7 billion pounds of vanadium pent oxide (5.36 lbs/ton).