Standard & Poor's Initiates Factual Stock Report Coverage on Continental Gold Limited

Standard & Poor′s announced today that it has commenced Factual
Stock Report coverage on Continental Gold Limited.

Continental Gold Limited (TSX: CNL), an advanced-stage exploration and
development company, engages in the acquisition, exploration, evaluation
and development of mineral properties, principally gold resource
properties in Colombia. The company's nine gold projects cover over
197,000 hectares in Colombia.

As of August 10, 2011, the company held the rights to explore and
develop nine properties in Colombia totaling approximately 95,242
hectares, has pending registration concessions totaling 39,919 hectares
and pending concession applications totaling 62,555 hectares. The
company's primary focus is on its Buriticá project.

Continental announced, on September 15, 2011, maiden gold, silver and
zinc resource estimates for the Yaragua and Veta Sur vein systems. The
company continues with a major 100,000-metre surface and underground
drilling program to expand and increase the level of confidence of these
resources in Yaragua and Veta Sur and to explore new targets at
Buriticá. The modeling confirms that the Buriticá project contains
multimillion ounce gold and silver resources and has the potential to
grow substantially. The company commented, 'the strength of the
Continental Gold team is the desire and effort to always achieve more.
This initial resource is a reflection of their dedication and puts the
company on track to achieve its goal of commercial gold production in
2014'.

S&P
Factual Stock Report coverage on Continental Gold Limited will also
be accessible on an ongoing basis to the investment community by scores
of buy-side institutions and sell-side firms that utilize S&P research
and information platforms daily. Millions of self-directed investors
also have access to the report via their e-brokerage accounts. Please
visit www.continentalgold.com
for additional information.

About Standard & Poor's Factual Stock Reports

This Standard & Poor′s service provides factual research coverage
enabling information about Continental Gold Limited and other
securities to reach a wide investor audience of Buy and Sell-side
investors, helping them understand a company′s fundamentals and business
prospects. Currently profiling over 500 issuers, S&P Factual Stock
Reports increase market awareness for issuers in the investment
community with insightful commentary and key statistics/information.
Updated weekly with the latest pricing, trading volume, and other data,
the reports include recent developments, a financial review, key
operating information, Industry and peer comparisons, institutional
holdings analysis, Street Consensus and opinions, performance charts,
business summary, fundamental data, and news. Because coverage of these
reports is sponsored by the issuer, S&P does not offer investment
opinions concerning the advisability of investing in these stocks.

Standard & Poor′s Factual Stock Reports are produced separately from any
other analytic activity of Standard & Poor′s. Standard & Poor′s Factual
Report research has no access to non-public information received by
other units of Standard & Poor′s. Standard & Poor′s does not trade on
its own account.

Note:All U.S. and Canadian Companies listed on a National
Exchange (not covered by S&P′s STARS research) are eligible to obtain
this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP),
is the world's foremost provider of financial market intelligence,
including independent credit ratings, indices, risk evaluation,
investment research and data. With approximately 10,000 employees,
including wholly owned affiliates, located in 23 countries, Standard &
Poor's is an essential part of the world's financial infrastructure and
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with the independent benchmarks they need to feel more confident about
their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

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Continental Gold Limited

Elina Chow, 416-583-5611

e.chow@continentalgold.com

or

Standard
& Poor's

Customer Contact:

Richard Albanese,
212-438-3647

richard_albanese@standardandpoors.com

or

Media
Relations:

Michael Privitera, 212-438-6679

michael_privitera@standardandpoors.com