Pancontinental Uranium Corporation Press Releases

Pancon Completes Financing

Thu, 18 Apr 2013 10:39:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 18, 2013) -

NOT FOR DISSEMINATION INTO THE USA

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company") is pleased to announce that it has closed a non-brokered private placement (the "Offering") (see news release April 5, 2013).

The Offering consisted of 7,716,663 units (the "Units") of the Company at a price of $0.09 per Unit, for aggregate gross proceeds of $694,499.75. The Company plans to use the proceeds of the Offering to fund exploration and development work in its Joint Venture in NT, Australia and for general working capital purposes.

Each unit is comprised of one common share (a "Common Share") in the capital of the Company and one half of one Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each Warrant is exercisable to purchase one Common Share at a price of $0.15 per Common Share for a period of eighteen months following the closing of the Offering provided that if, at any time after the date that is more than four months and one day following the closing of the Offering, the Common Shares trade on a stock exchange at a volume weighted average trading price of $0.30, or greater, per Common Share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof. In such case, the Warrants will expire on the 30^th day after the date on which such notice is given by the Company.

In connection with the Offering, the Company paid certain finders cash commissions totalling $46,669.98 and issued an aggregate of 518,555 finder Warrants, each finder Warrant exercisable into one Common Share at an exercise price of $0.15 per share for a period of 18 months after the closing of the Offering, with identical provisions to the Unit warrant.

All of the Common Shares and Warrants issued pursuant to the Offering are subject to a four-month hold period and the Offering remains subject to final acceptance by the TSX Venture Exchange.

About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation ("Pancon") is a Canadian-based company focused on uranium and REE discovery and development. Through a joint venture with Crossland Uranium Mines Limited ("Crossland") of Australia, 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 and Crossland hold an impressive REE and uranium exploration portfolio with projects in prolific, mining friendly districts.

Exploration is ongoing or has occurred at three Australian projects which include Charley Creek, Chilling, and Kalabity. Charley Creek has the potential for large alluvial REE deposits, and large, lower-grade, Rossing-type, granite-hosted uranium deposits. 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 The Kalabity project is in a district of historic uranium/radium mining that contains a variety of known uranium deposit styles.

Pancon has a 45% participating interest in this significant REE and uranium project portfolio. Pancon and Crossland are also pursuing exploration beyond Australia through an international subsidiary company, Crosscontinental Uranium Limited, and plans include formulating an exploration program in Burkina Faso.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

Cautionary Language and Forward Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Pancontinental Uranium Corporation: Charley Creek REE Project Scoping Study Delivers Robust Economics for a Long-Life, Low Capital Cost Project

Tue, 16 Apr 2013 06:30:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 16, 2013) - Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company") is pleased to announce that its Joint Venture partner, Crossland Uranium Mines Limited (ASX:CUX) ("Crossland"), issued two press releases Monday in Australia. Both are related to the publication of the JV's JORC-compliant Charley Creek REE Scoping Study. The first is an extensive summary and review of the Scoping Study and the second is their latest investor presentation on Charley Creek. Both are accessible through the links provided in this release.

The JORC-compliant Charley Creek Scoping Study was conducted by MSP Engineering, an independent consultant, and was overseen by Crossland's Chief Operating Officer Tony Chamberlain. It details capital and operating cost estimates for all of the major facets of the Charley Creek REE Project including mining operations, wet and dry plant mineral concentration facilities, REO refinery, infrastructure, and water supply. The study assumes construction of a wet and dry mineral concentrator to produce a high grade (40%+) TREO concentrate followed by onsite refining to remove uranium, thorium and major gangue elements to yield a high purity mixed rare earth carbonate product.

Pancon President and CEO, Rick Mark states: "This is a major milestone that we believe ranks Charley Creek high amongst other REE development projects, worldwide. Charley Creek's alluvial deposits mean lower mining costs. We have a preponderance of HREEs, which means we can produce the Rare Earths that are in great demand. The composition of the ore is amenable to recovery by existing well-proven methods and these attributes contribute to construction costs of relatively low magnitude. The project is situated in close proximity to the necessary mining infrastructure in the Alice Springs area, including rail to the port of Darwin in the Northern Territory. And finally, Australia is a respected political jurisdiction for mining. We are looking forward to taking this report to the investment community as well as the Governments and Companies associated with Rare Earth production and consumption."

The Crossland press release can be viewed using the following link: http://www.asx.com.au/asxpdf/20130415/pdf/42f7v06gx1svy4.pdf

Crossland's Charley Creek investor presentation can be viewed using the following link: http://www.asx.com.au/asxpdf/20130415/pdf/42f7v3g3cbz3nl.pdf

DISCLAIMER

This report was prepared for Crossland Uranium Mines Limited (Crossland) by MSP Engineering Pty Ltd (MSP) as an independent consultant and is partly based on information provided by Crossland and partly on information not within the control of either Crossland or MSP.

The May 15, 2012 JORC-compliant resource estimate is not independent and, therefore, is non 43-101 compliant.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain of the statements made and information contained in this report may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. The forward-looking statements in the report reflect the current expectations, assumptions or beliefs of MSP based upon information currently available to MSP. With respect to forward-looking statements contained in this report, assumptions have been made regarding, among other things, the reliability of information prepared and/or published by third parties that are referenced in this report or was otherwise relied upon by MSP in preparing this report. Although MSP believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unforeseen technology challenges and the level of global economic activity.

About Pancontinental Uranium Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

Don Whalen, Chairman & Director

Cautionary Language and Forward-Looking Statements: This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

Contact Information

Pancontinental Uranium Corporation
Rick Mark
President and CEO
604-986-2020 or 1-866-816-0118
604-986-2021 (FAX)
www.PanconU.com

PANCON ANNOUNCES PRIVATE PLACEMENT TO RAISE UP TO $1,000,000

Fri, 05 Apr 2013 13:11:00 -0400

NOT FOR DISSEMINATION INTO THE USA

Vancouver, B.C., April 5, 2013. Pancontinental Uranium Corporation (TSX-V: PUC) (“Pancon” or the “Company”) is pleased to announce that the Company is arranging a non-brokered private placement of up to 11,111,111 units at a price of $0.09 per unit for gross proceeds of up to $1,000,000 Cdn.

Each unit will be comprised of one common share (a “Common Share”) in the capital of the Company and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”) of the Company. Each Warrant is exercisable to purchase one Common Share at a price of $0.15 per Common Share for a period of eighteen months following the closing of the Offering provided that if, at any time after the date that is more than four months and one day following the closing of the Offering, the Common Shares trade on a stock exchange at a volume weighted average trading price of $0.30, or greater, per Common Share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof. In such case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company. The funds raised will fund exploration activities and general working capital.

The Company may close the private placement in tranches and the Company may pay certain finder's fees with respect to gross proceeds raised. The private placement and payment of any finder's fees are subject to acceptance by the TSX Venture Exchange.

About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation (“Pancon”) is a Canadian-based company focused on uranium and REE discovery and development. Through a joint venture with Crossland Uranium Mines Limited (“Crossland”) of Australia, 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 and Crossland hold an impressive REE and uranium exploration portfolio with projects in prolific, mining friendly districts.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President & CEO

For further information, please contact:

Rick Mark

President and CEO

604-986-2020 or 1-866-816-0118

For additional information, please visit our website at www.PanconU.com.

Cautionary Language and Forward Looking Statements

This press release may contain “forward-looking statements”, which are subject to various risks and uncertainties that could cause actual results

and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not

guarantees of future performance and results. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure documents filed from time to time with the Canadian securities authorities.

Pancontinental Uranium Corporation: Scoping Study at Charley Creek REE Project Due at End of February

Wed, 30 Jan 2013 03:30:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2013) - Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company") is pleased to report that today its Joint Venture partner, Crossland Uranium Mines Limited ("Crossland"), announced that the Scoping Study for a mining and processing operation at the Charley Creek Alluvial Rare Earth Project in Central Australia is proceeding well.

The study will produce capital and operating cost estimates for all of the major facets of the Charley Creek project including mining operations, wet and dry plant mineral concentration facilities, REO refinery, infrastructure, accommodation, water supply, and draft environmental scoping document (ESD).

Pancon President and CEO, Rick Mark, states: "The Scoping Study is an important early milestone in the Charley Creek Mine development process. The Project's alluvial mining techniques give us significant Capex advantage and we believe the preponderance of heavy REEs evident at Charley Creek can also give us a clear advantage over most REE projects."

The study assumes a staged development, commencing with the production of a high grade (40%+) TREO concentrate, followed by the construction of a refinery to remove uranium, thorium and major gangue elements to produce a high purity mixed rare earth carbonate product.

Progress on specific elements of the study is as follows:

MSP Engineering was awarded the engineering scoping study in November 2012 and is on track to deliver their final study report at the end of February. This study will provide a capital and operating cost estimate for the production of a high grade monazite/xenotime concentrate and associated infrastructure. ALS Metallurgy (Ammtec) has completed sulphuric acid bake and caustic 'crack' test work on a high grade Monazite/Xenotime concentrate sample from the Charley Creek project. Initial results indicate both process routes are technically feasible. Further optimisation test work on the production of concentrate and the refinery will be undertaken in the first half of this year.
Process design for the REO refinery has been awarded to a specialist consultant. A process design package is expected to provide to MSP Engineering to generate a +/-35% capital and operating estimate for the construction and commissioning of the REO refinery. The study flowsheet will consist of the following process steps:
Sulphuric acid pug roast --> Water leach --> Iron/Thorium precipitation --> Uranium IX --> RECO₃ Mixed Carbonate precipitation --> RECO₃ drying and packaging.
Capital and operating cost estimates for the REO refinery are expected to be available at the end of the first quarter of 2013.
GHD is progressing towards the draft EIS for the Charley Creek project. GHD is also undertaking hydrogeological studies across the Charley Creek project area to source sufficient underground water for mining and processing plants.

These studies are designed to generate the necessary data to allow economic assessment of the Charley Creek project to be quantified. The Scoping Study and economic assessment of the project will be made available to shareholders on completion. Crossland expects that the Scoping Study and financial analysis will provide a compelling business case and that the project will then proceed quickly to further resource drilling of starter pit areas, and a Feasibility Study.

About Pancontinental Uranium Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

Cautionary Language and Forward-Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

Crossland Appoints Dr. Tony Chamberlain as Chief Operating Officer to Advance the Charley Creek Project

Mon, 14 Jan 2013 08:40:00 -0500

Vancouver, B.C., January 14, 2013. Pancontinental Uranium Corporation (TSX-V: PUC) (“Pancon” or the “Company”) is pleased to announce that today its Joint Venture partner, Crossland Uranium Mines Limited (“Crossland”), announced the appointment of Dr. Tony Chamberlain as Chief Operating Officer.

Tony will be responsible for the management of the Charley Creek Alluvial REE Project [Crossland (55%)/Pancontinental Uranium Corporation (45%)] through the delivery of the Scoping Study currently in progress, and a Feasibility Study expected to proceed throughout 2013 to examine the development of a mining and processing operation at Charley Creek. Tony is familiar with the Charley Creek project having been previously involved in providing technical input to the current process flow sheet.

Tony has strong project management experience following 18 years in the petroleum and mineral resource sectors involved in strategic planning, project development and metallurgical flow sheet design associated with uranium, nickel, copper, cobalt, steel and gold projects for a range of companies including WMC, BHP and Clean TeQ Mining. He has been responsible for the delivery of several feasibility studies and implementation of capital projects including an expansion at Kwinana Nickel Refinery. He holds a PhD (Metallurgy) from Curtin University, in addition to graduate degrees in Metallurgy and Applied Chemistry.

About Pancontinental Uranium Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President & CEO

Pancon Completes Second Tranche of Financing

Fri, 30 Nov 2012 14:16:00 -0500

NOT FOR DISSEMINATION INTO THE USA

Vancouver, B.C., November 30, 2012. Pancontinental Uranium Corporation (TSX-V: PUC) (“Pancon” or the “Company”) is pleased to announce that it has closed the second tranche of its non-brokered private placement (the “Offering”) (see news release September 26, 2012).

This second tranche consisted of 923,111 units (the “Units”) of the Company at a price of $0.09 per Unit, for aggregate gross proceeds of $83,080. The second tranche combined with the $668,399.67 raised under the first tranche, which was completed on October 30, 2012, brings the total amount raised under the Offering to $751,479.67. The Company plans to use the proceeds of the Offering to fund exploration and development work in its Joint Venture in NT, Australia and for general working capital purposes.

Each unit is comprised of one common share (a “Common Share”) in the capital of the Company and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”) of the Company. Each Warrant is exercisable to purchase one Common Share at a price of $0.15 per Common Share for a period of eighteen months following the closing of the Offering provided that if, at any time after the date that is more than four months and one day following the closing of the Offering, the Common Shares trade on a stock exchange at a volume weighted average trading price of $0.30, or greater, per Common Share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof. In such case, the Warrants will expire on the 30^th day after the date on which such notice is given by the Company.

In connection with the Offering, the Company paid certain finders cash commissions totalling $26,069.99 and issued an aggregate of 273,933 broker Warrants, each broker Warrant exercisable into one Common Share at an exercise price of $0.15 per share for a period of 18 months after the closing of the Offering, with identical provisions to the Unit warrant.

All of the Common Shares and Warrants issued pursuant to the Offering are subject to a four-month hold period and the Offering remains subject to final acceptance by the TSX Venture Exchange.

About Pancontinental Uranium Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President & CEO

Encouraging Results from Downstream Leach Testwork at Charley Creek REE Project in NT, Australia

Tue, 27 Nov 2012 03:30:00 -0500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2012) - Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company") is pleased to announce that on Friday November 23, 2012, its Joint Venture partner, Crossland Uranium Mines Limited ("Crossland"), announced positive initial test results from downstream hydrometallurgical test work and other initiatives to achieve early production.

The results confirm that the high grade TREO heavy mineral concentrate is amenable to conventional sulphuric acid digestion with over 95% recovery into solution. This is another important milestone in the technical program and enhances and expands the Charley Creek project's development options vis a vis the ability to produce and sell a heavy mineral concentrate to existing REO refineries.

Other efforts to fast track development of the Charley Creek project include the appointment of the following consultants to the project evaluation and development team:

MSP Engineering of Perth has been engaged to complete a Scoping Study that contemplates the production of Monazite/Xenotime mineral concentrates as the initial saleable product from the Charley Creek project.
GHD, a leading international environmental consultancy, has been engaged to commence base line surveys as part of an Environmental Impact Study (EIS).

By initiating important EIS base line studies now, the Joint Venture expects to start permitting an initial heavy mineral concentration plant starting in early 2014.

Following the release of the JORC compliant resource at Charley Creek in May 2012 (not NI 43-101 compliant), the Joint Venture has continued to review and interpret drilling and regional geochemistry data and is now investigating the potential for higher grade areas within the resource that could, potentially, represent high grade starter pits. Processing higher grade material in the early years of production should materially enhance the project economics and result in a relatively short payback period. More details on this will become available in coming weeks as work progresses on the Scoping Study.

The full Crossland Uranium press release is as follows:

Crossland has commenced downstream hydrometallurgical testwork on a recent high grade Monazite/ Xenotime concentrate generated from over 400kg of Heavy Mineral Concentrate prepared on site from 10 separate sample pits across the Cattle Creek and Cockroach Alluvial Deposits at Charley Creek. The objective of this testwork is to demonstrate that the Charley Creek TREO Concentrate is amenable to conventional sulphuric acid digest and caustic 'crack' processes, and is a suitable feedstock for existing REO refineries. The testwork results will also provide design input for a future engineering study for a rare earth refinery to produce a light and heavy rare earth carbonate or hydroxide products from Charley Creek concentrate.

Key Highlights

Bulk TREO Concentrate containing 44% TREO has been generated for downstream test work and to provide samples for potential off-take partners.
Preliminary results using sulphuric acid digest and water leach on this TREO Concentrate has resulted in 95.5% TREO extraction.
Water leach solution contained 35 g/L rare earth sulphates.

The downstream hydrometallurgical testwork is being undertaken at ALS Metallurgy in Perth under the direction of Crossland. Caustic 'crack' test work using sodium hydroxide and hydrochloric acid is now being progressed and these results will be released during the current quarter.

Crossland also advises that MSP Engineering of Perth is engaged on a Scoping Study of production of Monazite/ Xenotime mineral concentrates as the initial saleable product of the project. This study is slated for completion during January 2013. Additionally, GHD have commenced base line surveys as part of an Environmental Impact Study of an initial 20 year mine, and potential Dry Plant site areas. The EIS is targeted for completion by the end of 2013 to allow permitting to proceed in 2014.

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Geoffrey S Eupene CP, a Fellow of the Australasian Institute of Mining and Metallurgy. He is a director of the Company and a full time employee of Eupene Exploration Enterprises Pty Ltd. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Geoffrey S Eupene has consented to the inclusion in this report of the matters based on this information in the form and context in which it appears.

About Pancontinental Uranium Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

For additional information, please visit our website at www.PanconU.com.

Cautionary Language and Forward Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

Pancon Announces Extension of Non-brokered Private Placement

Fri, 02 Nov 2012 14:09:00 -0400

NOT FOR DISSEMINATION INTO THE USA

Vancouver, B.C., November 2, 2012. Pancontinental Uranium Corporation (TSX-V: PUC) (“Pancon” or the “Company”) announces that, further to its press releases dated September 26, 2012 and October 30, 2012, it has extended its previously announced non-brokered private placement for 30 days from today’s date.

About Pancontinental Uranium Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark

President & CEO

For further information, please contact:

Rick Mark

President and CEO

604-986-2020 or 1-866-816-0118

For additional information, please visit our website at www.PanconU.com.

Cautionary Language and Forward Looking Statements

This press release may contain “forward-looking statements”, which are subject to various risks and uncertainties that could cause actual results

and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not

PANCON COMPLETES FIRST TRANCHE OF FINANCING

Tue, 30 Oct 2012 13:28:00 -0400

Vancouver, B.C., October 30, 2012. Pancontinental Uranium Corporation (TSX-V: PUC) (“Pancon” or the “Company”) is pleased to announce that it has closed a first tranche of its non-brokered private placement (the “Offering”) (see news release September 26, 2012).

This first tranche consisted of 7,426,663 units (the “Units”) of the Company at a price of $0.09 per Unit, for aggregate gross proceeds of $668,399.67. The Company may close a second tranche of the Offering shortly and will provide an update in due course. The Company plans to use the proceeds of the Offering to fund exploration and development work in its Joint Venture in NT, Australia and for general working capital purposes.

In connection with the Offering, the Company paid certain finders cash commissions totalling $26,069.99 and issued an aggregate of 195,667 broker Warrants, each broker Warrant exercisable into one Common Share at an exercise price of $0.15 per share for a period of 18 months after the closing of the Offering, with identical provisions to the Unit warrant.

All of the Common Shares and Warrants issued pursuant to the Offering are subject to a four-month hold period and the Offering remains subject to final acceptance by the TSX Venture Exchange.

About Pancontinental Uranium Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark

President & CEO

For further information, please contact:

Rick Mark

President and CEO

604-986-2020 or 1-866-816-0118

For additional information, please visit our website at www.PanconU.com.

Cautionary Language and Forward Looking Statements

This press release may contain “forward-looking statements”, which are subject to various risks and uncertainties that could cause actual results

and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not

CHARLEY CREEK REE PROJECT SCOPING/PRELIMINARY ECONOMIC ASSESSMENT STUDY MOVES AHEAD

Thu, 25 Oct 2012 10:07:00 -0400

October 25, 2012 - Vancouver, British Columbia - Pancontinental Uranium Corporation (“Pancon” or the “Company”) (TSXV: PUC) is pleased to announce that its Joint Venture partner, Crossland Uranium Mines Limited (“Crossland”), issued the following press release today in Australia, regarding the Charley Creek REE project in NT, Australia:

HIGHLIGHTS:

- A contract has been signed with ALS Metallurgy to conduct acid leach testwork on Xenotime-Monazite concentrate from Charley Creek alluvials.

- Contractors are being engaged to undertake the various elements of a Scoping Study (Preliminary Economic Assessment-PEA) that will investigate the capital and operating costs of a mining and processing REE project to produce 7,000 tonnes of contained TREO per annum.

- Crossland’s confidence that the Charley Creek Project can be an early starter and long-term producer of valuable rare earth products is firming. Compared with many competing projects, most of which are based on hard-rock deposits, the Charley Creek alluvial project enjoys important advantages. Some of these advantages are presented in the diagrams below.

The leach testwork is intended to confirm that the Xenotime and Monazite minerals in the concentrate behave as expected under hydro-metallurgical conditions. The leach tests will be conducted on samples of final concentrate grading greater than 40% TREO produced by AML Laboratories from Charley Creek alluvial ore. This testwork will be the final link in the metallurgical scoping testwork chain to confirm that the Charley Creek ore can be processed from mining through to the production of saleable REE products, using well understood and low cost technology.

Negotiations with an engineering company to provide a Scoping Study on a 7,000 tonnes per annum of contained TREO mining project and mineral processing plant are at an advanced stage. The study will estimate likely capital and operating costs for the project and will embrace all engineering issues including infrastructure, mining and processing plant. Negotiations are also in train with consultants to provide an Environmental Impact Study planned to commence with baseline flora, fauna and hydrology studies in November 2012.

Before the Mine Gate. The key point for comparison of Charley Creek with typical hard-rock projects is at the Mine Gate, at which stage Charley Creek will be producing material with competitive TREO grades following low cost, heavy mineral sands style mining and wet plant processing.

After the Mine Gate. The mine and wet plant product has two very important qualities;

· High HREO. The proportion of the critical Heavy REO in concentrates to be produced from Charley Creek alluvial mine is about 17% of TREO and substantially higher than many other known advanced REE resource projects. Charley Creek contains a mixture of all of the Rare Earth Elements, but more than half of the contained value is in the critical Heavy REO.

· Favourable mineralogy. The rare earth minerals in the concentrate produced from the alluvium are Xenotime and Monazite. These minerals are regarded as preferred feedstock for REE production, with few of the problems that may confront more complex silicate REE mineralogy contained in many other prospective REE deposits.

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Geoffrey S Eupene CP, a Fellow of the Australasian Institute of Mining and Metallurgy. He is a director of the Company and a full time employee of Eupene Exploration Enterprises Pty Ltd. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Geoffrey S Eupene has consented to the inclusion in this report of the matters based on this information in the form and context in which it appears.

About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation (“Pancon”) is a Canadian-based company focused on uranium and REE 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 and Crossland hold an impressive uranium and REE exploration portfolio with projects in prolific, mining friendly districts.

Exploration is ongoing or has occurred at three Australian projects which include Chilling, Charley Creek, and Kalabity. 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. Charley Creek has the potential for large alluvial REE deposits, and large, lower-grade, Rossing-type, granite-hosted uranium deposits. The Kalabity project lies in a district of historic uranium/radium mining that contains a variety of known uranium deposit styles.

Pancon has a 45% participating interest in this significant uranium and REE project portfolio. Pancon and Crossland are also pursuing exploration beyond Australia through an international subsidiary company, Crosscontinental Uranium Limited, and plans include formulating an exploration program in Burkina Faso.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President & CEO