Continental Appointed New Interim CEO and New Director

TORONTO, ONTARIO--(Marketwired - Oct. 21, 2016) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.

Continental Precious Minerals Inc. (TSX:CZQ) (the "Company" or "Continental") today announced that Grant Sawiak has resigned as the Chief Executive Officer and a director of Continental effective immediately. As Mr. Sawiak's successor, the board of directors of the Company (the "Board") has appointed Norman Brewster, who has been a director of the Company since November 2013, as Interim Chief Executive Officer.

"During the search process for a new CEO, which process will include both internal and external candidates, Norman will provide stability and direction for the Company. The Company wishes to thank Mr. Sawiak for his service as the CEO of Continental and wishes him the best of luck in his new endeavors," commented Dave Pryce, the Chairman of the Board.

In addition, the Company announced that effective immediately Mr. Ram Ramkumar has been appointed as a director of Continental. Ram Ramkumar background includes extensive experience as President and CEO with public companies in the manufacture of office furniture. He was part of a team that lead the growth of these companies in the North American market with facilities in Canada and the US.

Over the last 10 years he has been an investor in a number of business ventures ranging from flexographic printing to technology development in the area of extracting metals from minerals.

He has served on the boards of numerous public companies listed on the TMX and Nasdaq. He is currently Chairman of the board of Snipp Interactive Inc, a public company offering promotional and loyalty platform and services to consumer product companies.

Mr. Ramkumar has a Bachelor of Technology (Metallurgical Engineering) and Master of Business Administration (University of Toronto) degrees and was a Chartered Accountant.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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