Continental Gold Provides Buriticá Project Construction Update

Toronto, Aug. 7, 2019 – Continental Gold Inc. (TSX:CNL; OTCQX:CGOOF) (“Continental” or the “Company”) is pleased to announce the release of photos showing construction advancements at its flagship Buriticá project in northwestern Antioquia, Colombia. The project remains on schedule for construction completion and first gold pour in H1 2020.

Click here for progress photos

“Overall construction of the Buriticá project continues to advance on schedule and is entering the home stretch with the 75% completion milestone recently surpassed. Underground development continues to advance rapidly on all headings and is anticipated to average more than 1,000 metres per month until first gold pour is achieved in H1 2019,” commented Ari Sussman, CEO.

About Continental Gold Inc.

Continental Gold is the leading large-scale gold mining company in Colombia and is presently developing it’s 100% owned Buriticá project in Antioquia. Buriticá is one of the largest and highest-grade gold projects in the world and is being advanced utilizing best practices for mine construction, environmental care and community inclusion. Led by an international management team with a successful record of discovering, financing and developing large high-grade gold deposits in Latin America, the Buriticá project is on schedule with first gold pour anticipated during the first half of 2020. For information on the Buriticá project, please refer to the technical report, prepared in accordance with NI 43–101, entitled “NI 43‐101 Buriticá Mineral Resource 2019‐01, Antioquia, Colombia” and dated March 18, 2019 with an effective date of January 30, 2019, led by independent consultants Ivor Jones Pty Ltd. The technical report is available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.continentalgold.com. Additional details on Continental Gold’s suite of gold exploration properties are also available at www.continentalgold.com.

Forward-Looking Statements

This news release contains or refers to forward–looking information under Canadian securities legislation—including statements regarding the development and construction of the Buriticá project, timing of production start-up, advancing the Buriticá project and future plans and objectives of the Company—and is based on current expectations that involve a number of significant business risks and uncertainties. Forward–looking statements are subject to other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward–looking statements. Specific reference is made to the most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward–looking statements. All the forward–looking statements made in this news release are qualified by these cautionary statements and are made as of the date hereof. The Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.