TORONTO, ONTARIO--(Marketwire - July 14, 2011) - Continental Precious Minerals Inc. (TSX:CZQ) (the "Company" or "Continental") is pleased to announce that the Inspectorate of Mines in Sweden has issued to Continental 14 mineral exploration licences in the southern part of the Billingen area of Vastergotland county, about 200 kilometres southwest of Stockholm.

The Company's newly acquired licences cover mineralized alum shale, or multi-metal sediment horizons. The licences are valid for three years and are renewable subject to satisfactory work programs having been carried out.

"We are pleased to add these licences to our position in Sweden," stated Ed Godin, President and CEO. "We are now positioned in several key alum shale regions of the country."

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.

Contact Information:

Continental Precious Minerals Inc.
Ed Godin
(416) 805-3036
(905) 276-4862 (FAX)

TMX / Equicom
Craig MacPhail
(416) 815-0700, ext. 290