CONTINUUM RESOURCES LTD.
Suite 1200 – 1188 West Georgia Street
Vancouver, B.C.V6E 4A2
Phone (604) 629-0000
Fax (604) 669-2960
info@continuumresources.com

December 4, 2006
TSX Venture: CNU

NEWS RELEASE
$6,750,000
PRIVATE PLACEMENT

The Company announces that it has engaged Bolder Investment Partners as its lead Agent to conduct, on a commercially reasonable efforts basis, a private placement of up to 27,000,000 Units at a price of $0.25 per Unit for gross proceeds of $6,750,000. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.30 per share for a period of one year.

A cash commission of 7.5% of the total proceeds raised is payable to the Agent, which the Agent may elect to be paid in Units at the same price and having the same terms as the Units offered in the private placement. The Agent will also receive agent’s warrants entitling them to purchase common shares totaling up to 10% of the number of Units issued under the private placement. Each agent’s warrant will have the same terms as the warrants issued as part of the Units. The Company will also offer a 1.5% commission to any individuals raising funds other than the Agent.

This placement is subject to the approval of the TSX Venture Exchange Inc. The proceeds of the private placement will be used primarily for exploration, drilling and tunneling on the Company’s past-producing, Natividad Mine property. In addition, the Company will use the funds raised to maintain its 24% stake in the joint venture agreement on the San Jose – Taviche properties with Fortuna Silver Mines Ltd. (see our news release dated November 24, 2006) as well as for general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS

CONTINUUM RESOURCES LTD.
Per: “GREIG HUTTON”
Greig Hutton, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

Links to Independant Research and News Releases:
Fundamental Research Corporation – Analyst Report
Monday, November 21, 2006

Continuum and Fortuna complete acquisition of San Jose Ag-Au Project, Mexico
Monday, November 27, 2006