TORONTO, ONTARIO -- (MARKET WIRE) -- 05/30/08 -- Pancontinental Uranium Corporation ("Pancon" or the "Company") (TSX VENTURE: PUC) announces that options to acquire 100,000 common shares of the Company have been granted to an employee of the Company. The options have a term of five years, are exercisable at Cdn $0.48 per common share, and vest as follows: one-third immediately, one-third after one year and the final one-third after the second year.

About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation ("Pancon") is a Canadian-based company focused on uranium discovery and development. Through a joint venture with Crossland Uranium Mines Limited ("Crossland") of Australia, Pancon has established one of the strongest management teams in the uranium industry. This management and operating team has unparalleled experience from exploration, through development to operations, and includes people who were instrumental in the discovery of two of the largest uranium deposits in the world. Pancon holds an impressive exploration portfolio with projects in prolific, mining friendly districts. Active exploration is ongoing at four Australian projects which include Chilling, Charley Creek, Kalabity and Crossland Creek. The Chilling project has the potential to host a mirror image of a portion of the renowned Alligator Rivers Uranium Field containing the large Jabiluka, Ranger and Koongarra deposits. Pancon is earning a 50% interest in this significant uranium project portfolio through the joint venture with Crossland through the expenditure of A$8 million. Pancon and Crossland are also pursuing exploration beyond Australia through international subsidiary company, Crosscontinental Uranium Limited, and immediate plans include formulating an exploration program in Burkina Faso.

Shares Outstanding: 49,806,492

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contacts:
Pancontinental Uranium Corporation
Richard Mark
President and CEO
(604) 986-2020 or 1-866-816-0118
(604) 986-2021 (FAX)

Pancontinental Uranium Corporation
Ashleigh Meyer
Manager, Investor Relations
(416) 867-8073
Email: info@PanconU.com
Website: www.PanconU.com