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TORONTO, ONTARIO--(Marketwire - May 13, 2010) - Continental Gold Limited (TSX:CNL) ("Continental" or "The Company") is pleased to announce that Paul J. Murphy has been appointed to the Board of Directors of the Company. Additionally, it is anticipated that Mr. Murphy will be appointed the Chairman of the Audit Committee at the Company's next Board of Directors meeting.

Mr. Murphy is a retiring partner of PricewaterhouseCoopers LLP, where he has served as National Mining Leader and West Cluster Leader in Canada. Throughout his career, Mr. Murphy has worked primarily in the resource sector and his clients have included major international oil and gas, and mining companies. Mr. Murphy's professional experience includes financial reporting controls, operational effectiveness, international financial reporting standards and SEC reporting issues, financing, valuation, and taxation as they pertain to the mining sector. Mr. Murphy has a Bachelor of Commerce degree from Queen's University and has been qualified as a chartered accountant since 1975.

More recently, Mr. Murphy joined Guyana Goldfields as its Executive Vice President of Finance and its Chief Financial Officer and Alamos Gold as a director.

"On behalf of the Board of Directors and management, I am would like to welcome Paul to the Continental team," commented Ari Sussman, CEO. "He is an established role model in mineral accounting practices and his experience will play a key role in the Company's aggressive growth plans."

About Continental Gold Limited

Continental Gold Limited is an advanced-stage exploration company with eight gold projects covering 190,000 hectares in Colombia. Spearheaded by a management team with over 40 years of exploration and mining experience in South America, the Company plans to conduct an aggressive exploration program to its extensive portfolio with a focus on its flagship high-grade gold project, Buriticá and its drill-ready program, Berlin.