SOURCE: Pan African Mining Corp.

June 01, 2006 08:00 ET

Pan African Mining Corp. Commences Core Drilling at Mountain of Gold

VANCOUVER, BC -- (MARKET WIRE) -- June 1, 2006 -- PAN AFRICAN MINING CORP. (TSX-V: PAF) (FRANKFURT: P2A) (the "Company") is pleased to announce that it has now commenced Phase 2 core drilling on its Mountain of Gold Project located in the Dabolava region of Madagascar's Central-West Plateau. The Company's license area encompasses approximately 1825 sq. km. in the region, situated in the provinces of Toliary and Antananarivo.

The Company previously announced that it had successfully concluded field operations on its Phase 2 Exploration Program on the Mountain of Gold Project. Eight zones have now been targeted for core drilling. The initial phase of approximately 3000 m. of core drilling now underway is designed to examine and expand the zone of initial discovery at Dabolava East. Subsequent drilling will examine other similarly permissive zones of dilation potentially hosting high-grade gold mineralization along the 10 km. northwest trending Mountain of Gold shear system.

The Dabolava East zone contains numerous east-west, steeply dipping, shear-zone hosted, gold-bearing quartz veins. Phase 1 diamond drilling in that zone conducted in 2005 yielded significant discovery intercepts, including 0.9 meters @ 32.23 g/t Au, 4.3 meters @ 10.52 g/t Au, and 17.2 meters @ 4.04 g/t Au, in holes DE-D-001, DE-D-004 and DE-D-006, respectively. The zone is open in all directions and will be drilled with holes averaging 100 to 200 m. with hole spacing of 20 to 40 m. Drilling will be done with the Company's new Atlas Copco Products CS14 wireline core drill manufactured in Sweden. The drill is operated by the Company's own crew of seasoned drilling professionals.

About Pan African

The Company is an exploratory resource company with approximately 10,000 square kilometres of diversified mineral properties and 2,500 square kilometres of uranium properties in Madagascar. The Company is exploring these properties for gold, uranium, precious stones, base metals and industrial commodities. Its operations in Madagascar are carried out through its operating subsidiary, PAM Madagascar Sarl, and its uranium activities are carried out through its 80% owned subsidiary PAM Atomique Sarl. The Company has offices in Vancouver, Canada and Antananarivo, Madagascar. More information about the Company is available at www.panafrican.com

ON BEHALF OF THE BOARD OF DIRECTORS OF
PAN AFRICAN MINING CORP.

"Irwin Olian"
Irwin Olian
Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

Contact Information

  • For more information, contact:
    Irwin Olian
    President and CEO
    E-mail: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Tom Kinakin
    Corporate Communications - Vancouver
    Email: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Carrie Howes
    Corporate Communications - London
    Email: Email Contact
    Phone: +44-7780-602-788

    Marlies Studer
    Corporate Communications - Europe
    Email: Email Contact
    Phone: +41-44-215-2803