The project is located approximately 240 kilometers southwest of the city of Lhasa in the Tibet Autonomous Region (TAR), People's Republic of China.

Continental initiated exploration at Xietongmen in April 2005. In two years, the Company has outlined a large porphyry-like copper-gold-silver deposit, with 220 million tonnes of mineral resources, that is amenable to open pit mining.

In mid 2007, the positive results of a feasibility study on a 40,000 tonnes per day open pit operation on the Xietongmen deposit were announced. The mine would have a 14 year life with an annual average production of 116 million pounds of copper, 190,000 ounces of gold and 1.73 million ounces of silver.

In February 2007, Continental entered into a framework agreement with Jinchuan Group Ltd., a large, integrated metal mining and fabricating company, for equity financing, capital financing, concentrate off-take and other mine building support for Continental's Xietongmen copper project. Continental and Jinchuan have also settled the principal terms of a concentrate off-take arrangement in connection with the Project to be incorporated into the formal agreements in due course.