Continuum Options Exploration Lands Adjoining La Calentana Gold Mine, Guererro State, Mexico.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 15, 2003

Continuum Resources Ltd. (TSX VENTURE:CNU) is pleased to announce that it has signed a binding Letter of Intent with an arm's length party to acquire a 70% undivided interest in 3,552 hectares of prospective exploration lands in the Pinzan Morado gold district (the La Pompeya project), adjoining the La Calentana gold-zinc mine in the State of Guererro, Mexico. In addition, a Right of First Refusal has been granted by the owners of the La Calentana mine for an option to purchase a minimum of a 50% interest in the deposit. The same owners control both the La Calentana mine and the adjacent exploration lands.

The Pinzan Morado gold district is located 35 km southwest of the city of Altamirano, and is accessible by paved highway. The district contains numerous, shale-hosted, gold-zinc-bearing mesothermal quartz vein systems, one of which (the La Calentana deposit) has returned very high grade gold values from recent drilling by the owners. With this agreement, Continuum has acquired exploration lands adjacent to the La Calentana deposit, on which numerous vein systems are known to occur in a similar geological environment. No modern exploration, including diamond drilling, is known to have been conducted on the option claims, despite the presence of numerous small shafts, adits and shallow underground developments on gold-bearing quartz vein systems. One of the principal prospects, the La Pompeya vein system, can be traced on surface for over 600 meters along strike.

To acquire a 70% interest in the claims, Continuum must spend US$ 750,000 on exploration and issue 800,000 shares of the Company over a period of three years. During the first year, the Company commits to expend a minimum of US$100,000 on exploration. If the Company elects to proceed after the first anniversary, then 100,000 common shares must be issued to the vendor, and a minimum of US$ 200,000 in expenditures must be committed towards exploration during the ensuing 12 months.

The most significant deposit in the Pinzan Morado district, serving as the model for Continuum's exploration on the adjacent lands, is the La Calentana mine, developed on the Pinzan mesothermal gold-zinc vein system. Current work at the deposit by the owners includes the construction of a ramp from surface to access shallow ore. The Pinzan vein is E-W-striking, approximately 1 km long, and varies between 0.5 and 2.0 meters wide. Mineralization consists of gold, sphalerite, and minor galena and is hosted by Jurassic-age black shales and slates on the edge of an Upper Cretaceous-age granite batholith. As part of the present agreement, Continuum has secured a Right of First Refusal on the La Calentana deposit.

Recent diamond drilling, carried out by the present owners of La Calentana, intersected very high-grade gold values. Assays, carried out by ALS Chemex Labs, range up to 161.7 grams of gold per ton over a core length of 1.05 meters. Mineralization is open along strike and to depth, and has been tested to a maximum depth of approximately 200 meters below surface.

The Qualified Person for this project, under the definition established by National Instrument 43-101, is Lawrence Dick, Ph.D., P.Geo. Additional assistance in the field, including sample collection, was provided by Chris Osterman, Ph.D., registered professional geologist in the State of Arizona.

On behalf of Continuum Resources Ltd.

Lawrence Dick, Ph.D., P.Geo.