CONTINENTAL GOLD

1 www.continentalgold.com

Corporate Presentation

February 2011


These presentation slides (the “Slides”) do not comprise a prospectus or other form of offering document relating to Continental Gold Limited (“the Company”), and do not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities of the Company or any other company. Your attention is drawn to the risk factors set out below.

The Slides and the accompanying verbal presentation are confidential and are being supplied to you solely for your information and may not be reproduced or distributed to any other person or published, in whole or in part, for any other purpose. No reliance may be placed for any purpose whatsoever on the information contained in the Slides and the accompanying verbal presentation or the completeness or accuracy of such information. No representation or warranty, express or implied, is given by or on behalf of the Company or its shareholders, directors, officers, or employees or any other person as to the accuracy or completeness of the information or opinions contained in the Slides and the accompanying verbal presentation, and no liability is accepted for any such information or opinions (including in the case of negligence, but excluding any liability for fraud).

The Slides contain forward-looking statements, which relate, inter alia, to the Company’s proposed strategy, plans and objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and the Company accepts no obligation to disseminate any updates or revisions to such forward-looking statements.

The Slides and their contents are directed only at persons who fall within the exemptions from applicable securities laws and persons to whom distribution may otherwise lawfully be made. Any investments, investment activity or controlled activity to which the Slides relate is available only to such persons and will be engaged in only with such persons. Mr Moller, Vice President Exploration for the Company, is a 'qualified person' under National Instrument 43-101 and has reviewed the technical information contained herein.

Important Notice


Investment Highlights

Colombia: pro-business environment

Focus on high-grade gold

Experienced management team

One of the first to enter Colombia

Stuart Moller, VP of Exploration


Capital Structure

Shares outstanding 98.5 million

Fully diluted 121.3 million

Cash* C$93 million

Options outstanding 6.4 million

Warrants outstanding 16.9 million

Insider ownership ~30%

* As of Jan 1, 2011

General Terrain in the Buriticá Region


Management

Stuart Moller, MSc, P.Geo

Vice President Exploration

30 years of Latin American focused experience

9 years as VP, Exploration for PanAmerican Silver Corp.

Greg Hall Technical Advisor

Over 35 years of experience in the mining industry

Chief geologist world-wide of Placer Dome until the Barrick takeover − credited discoveries include Granny Smith Mine (Barrick), Yandi Mine (Rio Tinto)

Mark Moseley-Williams Senior Vice-President of Operations

Mining engineer & MBA with over 16 years’ experience in mine construction, expansion projects and operations in Americas

Agnico Eagle, Kinross, Coeur d'Alene, Fortuna

Elina Chow Director of Investor Relations

10 years of investor relations/public relations experience

Previously with Colossus Minerals and Auryx Gold Corp.

Ari Sussman CEO, President and Director

15 years of experience in the mining industry

Co-founder and CEO of Colossus Minerals, 2006 – present

Raised over C$300 million since 2006

Vic Wall Special Advisor

Geologist with over 30 years of international experience

Co-winner of the Goldcorp challenge in 2001

Chief Geologist MIM Exploration Pty. Ltd (1989−1996)

Co-founder & VP, Exploration for Colossus Minerals Inc.

Gustavo Koch, MA

Executive Vice President

Lawyer with 17 years of experience managing extensive portfolio of mining licenses in Colombia including Continental’s portfolio

Keith McKay, CA

Chief Financial Officer

A chartered accountant; formerly served as CFO with Andina Minerals, Aurelian Resources; controller with Rio Algom, VP Finance with Potash Company of Canada


Board of Directors

Robert Allen Chairman of the Board

30 years of Colombian experience identifying, financing and developing mineral properties including Continental’s portfolio

Ari Sussman CEO, President and Director

15 years in the mining industry

Co-founder and CEO of Colossus Minerals, 2006 − present

Raised over C$125 million since 2006

Jim Felton Director

8 years of Colombian experience, including Vice President of Business Development for Grupo de Bullet (2006 − present)

Paul J. Murphy Director

Executive VP of Finance and CFO at Guyana Goldfields

Former National Mining Leader and West Cluster Leader in Canada at PriceWaterHouseCoopers LLP

Director of Alamos Gold

Jaime G. Gutiérrez Director

25 years of mining industry experience

General Manager of Colombian gold smelter company CIIGSA

Tim Warman, P.Geo

Director

President and CEO of Malbex Resources

Former Vice President of Corporate Development of Aurelian Resources Inc.

Patrick Anderson Director

CEO of Dalradian Resources

Former president and CEO of Aurelian Resources

Co-credited with discovery of FDN Deposit in Ecuador

The Northern Miner’s Mining Man of the Year (2009)

Director of Colossus Minerals


Continental’s Projects

Concessions owned: 166,207 ha

Concessions pending application: 145,656 ha

Highly prospective gold regions

Buriticá high-grade flagship gold project

Over 40 years combined Colombian

experience

Joint venture on Dojura property

with AngloGold Ashanti

Santander

Frontino

Berlin Buriticá

Lunareja

Dojura

Dominical

N

COLOMBIA

0 100 200

Kilometres

Continental Gold Projects

Medellin

Bogotá


Colombia: Gold Belts

Miocene belt in Colombia’s central cordillera

Major gold deposits include La Colosa & Marmato

Countrywide exploration only just beginning

METALLOGENIC BELT AGE

0 75 150

Kilometres

N

VENEZUELA

ECUADOR

COLOMBIA

Jurassic

Late Cretaceous Early Tertiary

Eocene (?)

Miocene

DEPOSIT TYPE

Porphyry Gold

Intermediate Sulfidation

Oxidized Pluton Related

PANAMA

Segovia Belt

Antioquia Batholith

Middle Cauca Belt

Choco Belt

Western edge of the craton

La Colosa

Marmato

Buriticá

California District

General Terrain in the Buriticá Region


Buriticá: Overview

31,257 hectares (5,551 ha registered; 13,320 ha pending registration; 12,386 ha pending application), 100% owned

Two hour drive from Medellin

Mining license and EIA in place – only amendment required

Excellent infrastructure: road, power and water to site

30 tpd plant processing development ore

High grade, carbonate base metal type vein/breccia system

60,000m drill program for 2010-11 30% complete; over 45,000m drilled since 2008

Multiple untested targets to be drilled

Visible gold in hole Busy-79

Native gold on the gravity table


Buriticá: Exploration Targets

Significant additional high-

grade vein potential in

several areas

Lower grade disseminated

Au potential on north and

south edges of Buriticá

complex and in the

Guacamaya breccia area

Pajarito

Guacamaya

Breccia

Yaragua

La

Estera

Town of Buritica

Town of El Naranjo

500m

Alluvium

Black siltstones

Tonalite

Basalt (Cretaceous)

Buritica Andesite Fault

Area of soil sampling

N

Yaragua

North

Veta Sur

San

Augustine

La Mano


Buriticá: Soil Sampling

0 300

metres

0 300

metres

0.15

12 g/t

1500 x 2500 m grid 1560 samples Multi-element ICP 100 x 20-25 m grid

GOLD LEAD

0.2%

150

Yaragua Mine

Veta Sur

La Estera

La Mano

Yaragua North

Yaragua Mine

Veta Sur

La Mano La Estera

Yaragua North

To

nu

sco

Fa

ult

To

nu

sco

Fa

ult


Buriticá: Soil Sampling

0 300

metres

0 300

metres

5

>45 g/t

SILVER ZINC ZINC

0 300

metres

150

>0.2%

Yaragua Mine

Veta Sur

La Estera

La Mano

Yaragua Mine

Veta Sur

La Estera

La Mano

Yaragua North Yaragua North

To

nu

sco

Fa

ult

To

nu

sco

Fa

ult


Buriticá: Yaragua Zone

Diatreme Fault

Tonusco Fault

0 100

Metres

E W

View is to the South

Yaragua Mine

Portals

Breccia


Buriticá: Major Vein Systems

Veta Sur

System

Diatreme

Fault

Tonusco

Fault

Yaragua

System

Yaragua

North

100m

Drill hole

10 – 30g/t Au

Road

Fault

Veta Sur Drill Intersects

>30g/t Au

3 – 10g/t Au

N

FW Vein HW Vein

Sofia

Vein C

Vein B

Mafic volcanics

Breccia Buritica

Breccia Volcanic-Sed

Sediments

Buritica intrusions

Busy-66 8.5m @ 23.67 g/t Au & 149 g/t Ag

Busy-79 14.3 m @ 446 g/t Au & 166 g/t Ag

Busy-131 17.9 m @113.82 g/t Au & 112 g/t Ag

Busy-11 7.0 @ 88.29 Au & 155.2 Ag

Busy-63 1.5m @ 64.82 g/t Au & 20 g/t Ag

Busy-23 5.9m @ 52.42 g/t Au & 20 g/t Ag

D

C

A

B

Buuy-130 9.9 m @ 53.11 g/t Au & 109.9 g/t Ag

Buuy-48 3.5 m @ 76.72 g/t Au & 216.4 g/t Ag

Buuy-51 2.7 m @ 60.53 g/t Au & 55 g/t Ag

Buuy-44 9.8 m @ 13.93 g/t Au & 69.6 g/t Ag

Yaragua

Mine

Portals


Buriticá: Stage II Gold Mineralization

Cuts Stage I banded gold - base metal mineralization

Free gold - carbonate +/- stibnite, Te, As

Low base metal content

Identified to date in San Antonio, Sofia, B, and Veta Sur veins (ie., high grade veins) and on Diatreme Fault

Program of oriented core drilling to determine structural relationship to Stage I


Buriticá: Yaragua Zone Cross-section A-B

Murc

iela

gos 2

Level 1

Level 2

Level 0

Level 3

N S

Section Line 1129 540mE

50m

>30

10−30

5−10

3−5

1−3

0.5−1

<0.5

Gold Assay

Results (g/t))

4.0m @ 30.0

8.8m @ 71.1

0.3m @ 117.9

1.5m @ 110.9

1.4m @ 65.3

0.3m @ 11.7

0.6m @ 634.5 0.7m @ 28.2

0.3m @ 11.2

0.2m @ 53.5

Yaragua Breccia

20m @ 3.0

1500 m

1400 m

1300 m

1600 m

A B


Buriticá: Longitudinal Section of San Antonio Underground Channel Sampling

Drill hole intersect

of San Antonio Vein

(cutoff of 1g/t)

1 – 10

10 – 30

>30

Gold (g/t)

100m

0.4m width @ 23.4 g/t

(38m length)

0.5m width @ 212.8 g/t

(57m length)

0.5m width @ 63.8 g/t

(27m length)

0.3m width @ 35.5g/t

(33m length)

0.1m width

@ 63.9g/t


(108m length)


(50m length) 1.4m width @ 105.2g/t

(55m length)


(200m length)

1.0m width @ 108.1g/t

(115m length)

1700m

1500m

1300m

Channeled interval

with length of

interval, average

grade and thickness

W E

Note: Channeled widths are

less than the vein width in some

areas as sampling is limited by

the width of the tunnels


1500m

1800m

1300m

1700m

1600m

1400m

50m

3.4m @

12.4

1 – 10

10 – 30

30 - 100

Results

Gold (g/t)

0.7m @ 18.5

1.4m @ 9.4

0.9m @ 27.2

1.4m @ 14.3

2.0m @ 23.3

1.9m @

12.6

2.0m @ 6.5

1.1m @ 7.6

4.3m @ 16.1

3.2m @ 4.6

2.5m @ 9.6

5.1m @ 4.3

1.1m @ 8.6

3.7m @

4.2

1.3m @ 14.2

2.1m @ 4.1

3.2m @ 3.5

2.6m @ 20.9

1.25m @ 23.9

12.1m @ 4.8

Inc

2.05m @ 11.3

2.7m @ 12.2

6.1m @ 8.9

14.3m @ 446g/t

Inc 3.0m @ 2105.1g/t

Drill traces

Previous

results

Awaiting

results

>100

A

[cutoff of 1g/t]

B C

D

0.65m @ 365.3g/t

0.9m @ 428.7g/t

17.9m @ 113.8g/t

Inc 1.2m @ 1432g/t

And 1.8m @ 127.0g/t

A

C

D

Buriticá: Veta Sur Longitudinal Section C-D

C D

E

B E

0.80m @ 121.3g/t


Buritica: Gold Distribution

All drill traces (Total 45km)

Gold intersect (>30ppm)

Drill traces (Awaiting Assay results)



Combined Veta Sur – Yaragua longitudinal section looking north. +10 g/t Au intercepts along 900m of strike open below the 600 vertical meters currently drill tested

Yaragua

Veta Sur

1700m

1600m

1500m

1400m

1300m

1200m

1100m

1000m

100m

Crosscut off of tunnel from Naranjo Valley

W E

(scheduled for 2012 – 2013)


Buritica: Preliminary Ramp Design

Plan View

Section looking West

Buuy-22

1300 m

1500 m

Buuy-46

Preliminary ramp access design accesses large open valley

1km ramp at 1200m level starting Q1 2011

Resource definition drilling below 1500m level ~Q2/Q3 2011

Will become main haulageway for production

Buuy-22 189 g/t Au intersection at 1220m elevation

0 300 metres

0.15

12 g/t

Veta Sur

La Estera

La Mano

Yaragua North

To

nu

sco

Fa

ult


Buriticá: Aggressive Time Line

Milestone Target

Complete 45,000 m Phase 1 drill program

Complete 1500m of development on vein

Initiate baseline environmental program

Initiate metallurgical & geo-mechanical testing

Amend Mining License & EIA 2011

Commence 60,000m & Phase 2 drill program Q1 2011

Initiate exploration/production ramp Q2 2011

Complete Phase 2 drill program Q4 2011

Underground drilling at Buriticá – June 2010


Berlin: Overview

100% owned, 27,000 hectare project

Large-scale mesothermal gold vein system

Over 11 kilometres of mineralized strike to test

0 5 10

Kilometres

N

Trend of Mineralization

Known Mines / Prospects

Current Road

Proposed Road

El Rosario Mine

Berlin Mine El Troncal

10 km

Pescadero Ituango Hydroelectric Plant

N Pescadero Ituango power plant:

• US$2.3 billion estimated cost

• 2400 megawatts

• Completion planned for 2018


Berlin: History

2135 Level

2100 Level

2070 Level

2035 Level

2000 Level

1960 Level

1930 Level

1900 Level

1860

Level

1800 Level

1830 Level

1730 Level

1700 Level

1760 Level

1660 Level

North

Orebody

South

Orebody

Orebody ‘C’’ ‘B’ Orebody

‘D’

Orebody

Orebody ‘A’

Berlin mining operation circa 1942 (photo and left image source: “A Lode Gold Mine in Colombia”, Engineering & Mining Journal, April 1942)

Berlin Mine operated 1930-1946

Produced 413,000 oz Au

Production from 20m thick lens

Production grade @ 16g/t Au

Historical Au recoveries of 94%


Berlin: Geochemistry

Rosario

Berlin

1km

El Troncal Approximately 5 metres

Non Carbonaceous Pelites

License

Vein

Gneiss

Quartz sericitic schists

Tonalite

Carbonaceous Pelites

Stream Sample Rock Sample Soil Sample

>30 10−30 5−10 3−5 1−3 0.5−1 <0.5

Gold Assay Results (g/t)

Sample Type

Fault

Berlin vein with abundant stringers of host black schist


Berlin: Large-scale Veins Longitudinal Section

On-going sampling program continues to find gold along +11km of strike

Historical mine levels

Historical mined-out areas

+10g/t Au mineralization

LEGEND

La Lluvia Mine

El Rosario Mine El Pescaito

Berlin Mine

Mined ore bodies

413,000 ounces of gold production

Metres

1000 m

1000 m 0

North South


Berlin: Initial Exploration Plan

Historical mine levels

Historical mine working LEGEND

3 km length of a 12 km major structure

North South

No drilling North of this point along strike of structure

340m

+1,000 m development level (no historic mining)

1500RL 1600RL

No drilling vertically below this point along entire structure

1860RL

*2km of the structure

undrilled. Last drilling was

pre-1945

135m zone

last 23m 22 samples

Av. grade 16.6 gt Au

Open vertically and

S horizontally

50m zone 28

samples Av.

grade 9 gt Au

Open vertically

and N horizontally

25m zone 24

samples Av. grade

11.7 gt Au Open

vertically and

S horizontally

10m zone 5

samples AV.

grade 223gt Au

Open all directions

500 m


Dominical

100%-owned, 6,500 hectare project

Rock and stream sediment sampling

Grass roots discovery of epithermal/mesothermal vein systems with strike extents of 400−1,500 metres

Chip samples: 12m @ 1.15g/t Au

24m @ 1.00g/t Au

30m @ 0.86g/t Au

Near-term drill targets

Las Pilas vein discovery


Dojura: AngloGold Ashanti joint venture

37,235 hectares

Located in Chocó Department

Large area of porphyry-style alteration with significant historical alluvial gold production

Airborne geophysics completed

AngloGold Ashanti can earn up to a 75% interest over 3 years by spending US$6.9 million in combined option payments and on exploration and development


Other Projects: Santander

100% owned, 6,000 hectares of concessions

Located near Ventana Gold’s La Bodega property

California and Vetas districts host to historical high grade production

LEGEND

Continental Gold

Greystar Resources

Ventana Gold

Galway Resources

Ore Controlling Structure

Major Orebody

Surata

California

La Bodega Angostura

0 2.5 5

Kilometres

N

Vetas District


Grupo de Bullet Option

First right of refusal to acquire any precious or base metal concessions held by Grupo de Bullet

Option expires January 2013

+60 properties ≈ 4 million hectares

Dr. Vic Wall, Special Advisor & Mauricio Castañeda, Exploration Manager


Number of Warrants* Exercise Price (Cdn) Expiry Date

74,243 $0.35 Feb 5, 2011

6,242,112 $2.25 Mar 30, 2011

28,750 $1.50 Mar 30, 2011

164,395 $0.35 Apr 21, 2011

90,153 $0.94 July 27, 2011

169,699 $0.94 Aug 5, 2011

3,428,872 US$0.98 Mar 30, 2012

6,000,000 $7.50 Sept 16, 2012

720,000 $5.70 Sept 16, 2012

Total 16,918,224 $67.0 million

Warrants

* As of November 9, 2010


Number of Options Exercise Price (Cdn) Expiry Date

10,606 $0.94 Sep 22, 2011

10,606 $0.94 Dec 19, 2011

10,606 $1.60 Sep 7, 2012

42,425 $0.84 May 9, 2013

84,849 $0.41 May 4, 2014

2,790,625 $1.50 Mar 30, 2015

565,422 $0.98 Jan 29, 2019

800,000 $2.35 May 10, 2015

350,000 $2.70 May 11, 2015

150,000 $5.80 Sept 1, 2015

50,000 $6.11 Sept 14, 2015

150,000 $6.64 Nov 1, 2015

100,000 $10.42 Dec 1, 2015

Total – 5,667,197 $10.90 million

Options


A Unique Gold Exploration and Development Opportunity

Elina Chow, Investor Relations Office: +1.416.643.7638

Email: [email protected]

CONTINENTAL GOLD

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