http://www.mendhak.com/68-the-legend-of ... ri-la.aspxhttp://en.wikipedia.org/wiki/Shambhala
Not a lost continent but a lost city. Many parallels b/t the two legends. Of interest is the belief that the city held mankind's secret knowledge, and the founders will someday return to usher in a golden age, when man is ready.
Michael Wood's In Search Of episode on Shangri-La is a great doc. On the subject as well.