Source: DSA Corporate Services Inc.

Continental Precious Minerals Inc.-Board Resignation

TORONTO, ONTARIO--(Marketwire - Nov. 1, 2012) - Continental Precious Minerals Inc. (TSX:CZQ) (the "Company" or "Continental") announced the resignation of Herb Dhaliwal from its board of directors.

The board thanks Mr. Dhaliwal for his contribution during his term in office since December 2008 and is in the process of initiating a search for a highly qualified replacement.

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
President & CEO
(416) 805-3036
(905) 276-4862 (FAX)

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