TESORO GOLD LTD — Board/Management Information 2012

Mar 7, 2012

CONTINUATION INVESTMENTS LIMITED

Continuation Investments (ASX:COT) is pleased to announce the appointment of Mr Jeremy King and Mr Andrew Worland as directors of COT, effective immediately.

Mr King is a corporate advisor with over 12 years experience in domestic and international legal, financial and corporate matters.

Mr Worland has 15 years experience specialising in corporate, product marketing and operational functions for listed public companies focussed on natural resource development.

Ms Sarah Smith shall join the company as its Company Secretary. Ms Smith is a chartered accountant with Grange Consulting.

Mr Andrew Brown and Mr Stephen Roberts have resigned as board members and in Mr Brown’s case as Company Secretary, effective immediately. The Company thanks each of them for their contribution. Mr Richard Ochojski continues as a director of the Company.

Following the appointment of Mr King and Mr Worland, the Board intends to conduct a strategic review of COT and its investment strategy. This review shall include the consideration of the Company’s capital structure and the existing cash equivalent reserves of the Company. In order to gain scale to improve its investment prospects, it is likely that the Board shall consider in due course a capital raising initiative. Provided this scale can be successfully achieved the Company will be in a significantly better position to actively attract and review investment opportunities as they arise. The Board is also cognisant that following buy-back programmes the Company has a very low number of shares on issue which limits liquidity and shareholders’ ability to commercialise their investment.

For further information:

Richard Ochojski Director Continuation Investments Limited

Phone: 0414 345 018

______________ Continuation Investments Limited Suite 7.06 2-14 Kings Cross Road POTTS POINT NSW 2011 ABN 91 106 854 175 phone: (02) 9380 9001 fax: (02) 9380 9001 email: admin@tidewater.com.au