TSX-V: CNU

VANCOUVER, Feb. 21 /CNW Telbec/ - Continuum Resources Ltd (TSXV:CNU) is pleased to announce additional drill results from the 2007 drill program at the silver-gold deposit located in Oaxaca, Mexico. The San Jose Project is being explored and developed under a joint venture between Continuum (24%) and Fortuna Silver Mines Inc. (76%).

Assay results have been received for 7 drill holes located in the Trinidad ZoneIgnacio ZoneSan Jose vein system). Highlights of the current results in the San Jose and Trinidad Zones include:

    <<
    - Hole SJO-108 intersected multiple high grade zones within the San Jose
      vein system:
        - 6.3 g/t Au and 391 g/t Ag (711 g/t Ag eq) over 6.85m from 428.80m,
          and
        - 2.8 g/t Au and 311 g/t Ag (452 g/t Ag eq) over 7.60m from 448.80m,
          and
        - 4.9 g/t Au and 503 g/t Ag (752 g/t Ag eq) over 18.20m from 459.90m.

    - Hole SJO-087 cut 1.1 g/t Au and 187 g/t Ag (242 g/t Ag eq) over 13.00m
      from 385.60m in the Trinidad Vein.

    Infill drill results at Trinidad continue to show consistent high grades
over broad widths in the main mineralized shoot. This zone remains open at
depth in at least two directions with high grade silver and gold values
returned by SJO-084 and SJO-056. The Company is waiting to receive complete
results for the drilling on the San Ignacio zone to plan a follow-up drill
campaign.
    Assay results from the 7 drill holes in the Trinidad Zone are summarized
below. An updated longitudinal section showing the location of the drill holes
will be posted on Fortuna's website at www.fortunasilver.com.

    -------------------------------------------------------------------------
    Hole No.    From       To     Interval          Au         Ag      Ag Eq
                 (m)       (m)       (m)(2)       (g/t)       (g/t)  (g/t)(1)
    -------------------------------------------------------------------------
    SJO-086    533.93    534.83       0.90        2.58  (less than)      134
                                                                 5
               544.25    545.85       1.60  (less than)        118       119
                                                  0.05
    SJO-087    385.60    398.60      13.00        1.10         187       242
    SJO-088    444.25    446.00       1.75        0.69          81       116
               449.30    450.95       1.65        0.49          78       103
               453.45    454.10       0.65        0.55          72       100
    SJO-089    199.44    201.10       1.66        2.14         191       300
               207.20    209.10       1.90        0.75         117       155
    SJO-105                 No significant mineralized intervals
    SJO-106    238.80    242.80       4.00        1.51         148       224
    SJO-108    393.65    395.00       1.35        1.22         191       253
               406.00    409.80       3.80        0.65         117       149
               417.05    420.65       3.60        0.64          83       115
               428.80    435.65       6.85        6.28         391       711
               448.80    456.40       7.60        2.76         311       452
               459.90    478.10      18.20        4.89         503       752
    -------------------------------------------------------------------------
    (1) Silver equivalency estimates were derived using a silver-to-gold
        ratio of 51:1. Metallurgical recoveries and net smelter returns are
        assumed to be 100% for purposes of estimating silver equivalency.

    (2) Length-weighted assay averages for the mineralized intervals in all
        drill holes reported in this release were calculated using a lower
        cut-off of 100 g/t Ag-equivalent. The true widths of the mineralized
        veins are estimated at approximately 75 to 90% of the drill
        intervals.

    In addition to the 43 drill holes completed in the Trinidad Zone during
2007, another 23 holes (8,910.2m) were completed to test an 800m long interval
of the San Ignacio Zone, the southern extension of the San Jose vein system.
Assay results have been received and accepted for 10 drill holes, with
selected results highlighted in the table below. Results for 7 other holes in
the San Ignacio Zone were previously released in Fortuna News Release dated
Jan. 16, 2008.

    -------------------------------------------------------------------------
    Hole No.    From       To     Interval          Au         Ag      Ag eq
                 (m)       (m)         (m)        (g/t)       (g/t)     (g/t)
    -------------------------------------------------------------------------
    SJO-094    224.05    224.60       0.55        0.71         143       179
    SJO-101    363.50    365.10       1.60        1.82           8       101
    SJO-109     56.90     58.90       2.00        1.42         110       182
    -------------------------------------------------------------------------
    >>

Drill holes SJO-093, SJO-096, SJO-097, SJO-098, SJO-102, SJO-107 and SJO-110 did not intercept significant mineralization.

Assay Delays

Final assay results remain pending for 2 drill holes in the Trinidad ZoneIgnacio ZoneSan Jose deposit is a low sulfidation epithermal system located within the Taviche Mining District in southern Oaxaca and is characterized by mineralized multiphase quartz-carbonate-sulfide veins, hydrothermal breccias and stockwork veining within a sequence of Tertiary andesitic volcanic and volcaniclastic rocks. Using a cut-off grade of 150 g/t Ag equivalent, 43-101 compliant indicated and inferred mineral resources for the Trinidad zone atSan Jose are currently estimated at (see Continuum's News Release dated March 12, 2007):

Indicated Mineral Resources: 1.47 million tonnes grading

262.6 g/t Ag + 2.19 g/t Au containing 17.7 million Ag equivalent oz

Inferred Mineral Resources: 3.9 million tonnes grading

260.6 g/t Ag + 2.57 g/t Au containing 49.1 million Ag equivalent oz.

The Continuum-Fortuna joint venture controls mining concessions covering approximately 47,500 hectares in the Taviche Mining District. Detailed geologic interpretation and modeling of the Trinidad deposit are being carried out and will lead to an updated resource estimate currently projected for completion in the 2nd quarter of 2008. The joint venture is advancing with various engineering studies including preliminary design work and initiation of an Environmental Impact Study. Underground development of the main access ramp to theTrinidad ZoneGuadalajara, Mexico . The remaining half core is retained on-site for verification and reference purposes. Following preparation, sample pulps are sent to ALS Chemex inVancouver where they are assayed for gold and silver by standard fire assay methods using a gravimetric finish. Multi-element analyses are also completed for each sample by ICP methods. The QA-QC program atSan Jose includes the blind insertion of certified reference standards for silver and gold at a frequency of approximately 1 per 15 normal samples and the insertion of assay blanks at a frequency of approximately 1 per 15 normal samples. All sample results reported in this news release correspond to HQ- or NQ-diameter core.

Qualified Person

Mr. Gregory Smith, P.Geo., is the Company's Qualified Person as defined by National Instrument 43-101 and is responsible for the accuracy of the technical information contained in this news release.

Background

Continuum currently owns 7 separate gold-silver projects in the state of Oaxaca, Mexico, comprising approximately 125,000 hectares.

On behalf of the Board of Continuum Resources Ltd.

"Warren M. McIntyre"

Warren M. McIntyre, Corporate Secretary and Director